November 8th, 2014 by Jay
November 8th, 2014 by Jay
“Myself Belts” a velcro belt specially designed for young children.
Myself Belts offers a one-handed, easy-to-fasten belt for kids and adults. Myself Belts promote independence by allowing children to easily fasten and unfasten their belt on their own. No more droopy drawers, and a frustrating problem is solved for both parent, child and teacher! Great for potty training, preschoolers, school uniforms, and kids who just love to accessorize. Sized for kids 2-12, Myself Belts are available in leather and solid colors as well as adorable designs like airplanes, hearts, and trucks. Myself Belts can even be personalized with a name or school logo! Myself Belts are also available for teens and adults with hand-dexterity difficulties stemming from physical or cognitive challenges. With its faux buckle, it looks like a regular belt!
Talia from Myself Belts was the final contestant in Friday night’s episode of Shark Tank. Seeking a 60K investment for 10% of her company, the Sharks were intrigued by the idea. Myself Belts is the first belt that is created for children and designed so that they can fasten it themselves. The sharks were very concerned about the sales trends that MySelf Belts had shown (220K in 2012, 205K in 2013), but Daymond John was willing to make an offer.
Mark: “I want you to be successful, but you’re not a killer.” – He was out.
Lori: “lacking drive and determination” – Lori was out.
Robert: “The worst lies you tell in life are the ones you tell yourself.” – He’s out.
Daymond: Loved the idea, offered 75K for 25%
Kevin: “Market spoke to me.” – No offer from Kevin
Deal with Daymond John! 75K for 25% equity.
November 8th, 2014 by Jay
“SingTrix” a karaoke system with pitch correction and various vocal effects.
Everyone can be the lead singer! From the creators the first Guitar Hero® game comes Singtrix Karaoke — the most revolutionary singing experience ever created. Singtrix technology instantly makes bad singers sound good & good singers sound amazing! Singtrix will rock your house with the same professional quality studio effects that the pro’s use like live vocal harmonies (instant back up singers), natural voice-tuning & insanely funny extreme sound effects that will push the limits if reality.
Singtrix makes everyone sound like their favorite rock stars and works with any music & any audio device. Experience the thrill of singing and get the voice you’ve always dreamed of.
The duo from New York was next up in the tank with their revolutionized karaoke machine. Asking for 1.5M for 5% equity in the company, the business showed strong sales over the past 6 months selling over 4,000 units. The $1.2M in sales got Lori, Daymond, and Mark all giving offers to the guys. The team from SingTrix was looking to ”get involved with someone who will make them better”. However, founders Erik and John were unable to give up any more equity than 7%. Due to this, the sharks immediately withdrew offers and SingTrix was left without a deal. With over 350 effects, SingTrix could revolutionize karaoke parties forever! Best of luck to this team.
Mark: “I don’t see it working” – He was out.
Lori: Offered 1.5M for 30%, then equity goes down to 15% once paid back.
Robert: Offered 1.5M for 20%, eventually goes in on deal with Lori
Daymond: Offered 1.5M for 25%, but will finance orders
Kevin: 1.5M for 50%, but once paid back his equity goes to 10%, with a $2.5 royalty deal after.
The guys came back with 1.5M offer for 7%. Sharks are stunned and all bail!
No deal for SingTrix.
MAKE FIERCE WORKOUTS EVEN MORE POTENT.
TITIN: The world’s only weighted compression gear. TITIN challenges the status quo with everything we design, using disruptive technology and changing the way people train. TITIN is patented form-fitting weighted compression gear using gel weights as inserts. Our gel inserts can also be Heated or Frozen maintaining temperature up to 30-45 minutes for post workout recovery. Train Harder, Recover Faster.
Patrick Whaley founded TITIN Tech in the basement of his home. The idea for weighted training gear came to him as a skinny little boy in elementary school. During that time, Patrick would load up his backpack with books and wear it around to help build muscle. He thought weighted clothing of some sort would be more comfortable and more efficient than a bulky backpack. During his high school years, sketches were drawn and not too long after that, prototypes were being made, all funded by money Patrick earned while working in his spare time.
While studying mechanical engineering at Georgia Tech, Patrick’s idea was abruptly put on hold. In 2009, this young entrepreneur was shot in the chest at point blank range during an armed robbery. A bullet entered his chest, piercing his right lung, his liver and nicking a major artery before exiting his back. He survived the shooting, but was left greatly weakened by the incident. Once he was home from the hospital, Patrick used his prototypes to help speed his recovery. The weighted gear he had fashioned worked and soon he was back to work, more determined than ever, to bring his idea to life.
Armed with several patents, Patrick officially launched TITIN Tech in 2010. Today he continues to work on developing new products for TITIN and is heavily involved in the production of the Force. He travels the world demonstrating the benefits of training with TITIN weighted gear, which he is living proof of how well it works.
Presentation PITCH: TITIN
Titin Tech founder Patrick Whaley was first up in the tank looking for a 500K investment for 5% stake in his company. By using gel inserts that form with your muscle build, his new technology promises advancements in many areas of athletic performance. While Mark was having trouble deciphering the product from traditional ankle weights, I really was impressed with Patrick and his idea. This is an innovative product that could very well become extremely popular within organizations such as Crossfit and traditional athletic programs alike. Additionally, Patrick showed strong trends in sales of Titin and the future looks bright for his company.
Comments of Sharks:
Mark: “My BS meter is through the roof” – He was out.
Lori: “not hitting me as something I want to invest in” – Lori was out.
Robert: feels “uncomfortable” – Mr. Herjavec was out.
Daymond: Offered 500K for 20%,, and would be willing to handle production.
Kevin: Offered 500K for a 15% stake in the company.