When Desirée Stolar and Nate Barbera pitched to the Sharks, they only had $35,000 in sales. That translated to only 5,000 bottles of Unshrinkit sold. It wasn't a lot to show for their business, but the investors were interested in the laundry solution. Kevin O'Leary offered the pair $150,000 for 33.3% equity. That would make the trio equal partners. Luckily, that wasn't their only offer. Fashion guru, Daymond John, wanted in. He undercut O'Leary by proposing $150,000 for 25%. However, his deal was contingent on Stolar and Barbera licensing their formula.
In the end, O'Leary's high-equity ask and John's contingency were beaten by Mark Cuban's million-dollar evaluation. The Dallas Mavericks owner was willing to pay $150,000 for 15% of Unshrinkit. The entrepreneurs left the tank having accepted Cuban's offer. However, the ink never met paper.
"We did not close our deal with Mark Cuban," Stolar told A Nibble of Business. "We learned a great deal from engaging with his business team during the negotiations though. The experience of briefly working with them made us wiser about retail relations, due diligence and product quality." Despite releasing their Shark back into the water, Unshrinkit was successful without the TV investors.
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