Shark Tank Episode 2 Recap
photo credit: makelessnoise
In The Shark Tank has up a recap of Episode 2 of ABC’s The Shark Tank.
You can watch the full episode online, for free.
One highlight from the recap:
The last in front of The Sharks was Marc Furigay and his product Classroom Jams. Classroom Jams is an educational record label and publishing house. He was looking for $250k for 10% equity in his company. Marc is a teacher who was having a hard time relating Shakespeare to his class. He composed songs that helped his class relate to Shakespeare. The song was actually pretty good, a class set with 30 CD’s and a teachers guide would sell for $499. Shakespeare is the most taught playwright in the English language but Marc had plans to expend to different subjects. The Sharks talked about the deal together, and offered $250k and 5% royalties, but he would have to give up 100% of his company. Marc wanted to be one of the partners. Robert then offered $250k for 100% with an option to buy 49% back with the profits from the business, but there would be no royalties. Marc still wanted to have a deal with all five sharks so Robert sweetened the deal for the same price but this time lowered what he wanted to 51%. Marc rejected Roberts deal and wanted the royalties from the first deal increased to 8.5%, The Sharks said no but agreed to let him use his royalties to buy into the company and become a partner with The Sharks. This was one of the best deals of the season, I have no dough this company will be a success.
Links to all of the companies after the jump.
A Perfect Pear
Creators of Extraordinary Gourmet Food Products. Their products help the home cook prepare delicious healthful meals quickly and make them look like a 5 star chef to family & friends.
Crooked Jaw
Crooked Jaw is a up and coming action sport/streetwear brand from Long Island, NY. We have worked with many professionals athletes and bands and are looking to be the next big brand in the clothing industry.
http://www.crookedjaw.net
Attach Noted
AttachNoted is the solution to that irritating problem of loosing those sticky notes while working at your computer. AttachNoted will keep all your sticky notes in place and organized. Also, place your precious pictures or favorite business cards in the 3 slots, that are provided on the front sheet. Now one can securely take all those important sticky notes to their next appointment without having to reposition them.
Lifebelt
LifeBelt is a safety device that prevents the car engine from starting unless the drivers seat belt is buckled. It can also control other seat belts within the vehicle.
Classroom Jams
Classroom Jams is an educational record label & publishing house. We produce popular music that turns kids on to school curriculum. Our concept albums and teacher’s guides are the cutting edge in high-interest, high-minded teaching tools.
Rich Whittle on August 19th, 2009 9:34 pm
My call on The Shark Tank is that it’s all about control. And this was very evident in episode 2.
Did you notice how the sharks want at least 51% of a business. And the entrepreneur doesn’t want to give up the control because it’s their baby.
The woman with the AttachNoted should not have been on the program. She had no patent and had not sold a single unit and had priced it at $9.50! I’m surprised that she has a web site. BTW, if the product is even patentable, she lost all foreign rights by displaying it publicly and the clock on her U.S. rights are ticking (1 year with a provisional patent)
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