Episode 3 of Shark tank Season 14, which aired on Friday, October 7, features aspiring entrepreneurs from four respective companies.
They presented their business pitches in front of a group of sharks, including Lori Greiner, Daymond John, Mark Cuban, Kevin O’Leary and guest Kendra Scott. The Sharks have made deals with two companies – Stakt and Create A Castle. The remaining two parts, Mama O’s Premium Kimchi and Halloween Moments, did not receive any offers from investors in the program.
Shark Tank season 14 episode 3 also features a business update from Season 13. Shark Lori Greiner has invested in co-founder Emily Castro and Melissa Harrington’s seafood delivery service, Fish Fixe, in its thirteenth season. The entrepreneurs appeared on the latest episode to give an update on their business, which they claim has hit $8,20,000 in sales since they landed a deal on the show.
Who gets the offer in Episode 3?
In Shark tank Season 14 Episode 3, entrepreneurs Stakt and Create A Castle are the lucky ones to receive trades from the sharks.
Are from Stakt, co-founders Taylor Borenstein and Millie Blumka appear in the tank. They made an offer of $1,00,000 for 10% equity in their company. Their company makes foldable yoga mats, which can also be used as a tool for repeated workouts.
It’s thicker than regular carpet for extra support and is made with premium, non-toxic materials. In the new episode of Shark tank, the entrepreneurs mentioned that they have been best friends for more than 10 years and are also roommates, fitness enthusiasts. They started building the idea of starting a company together during COVID-19. In six and a half months, they had $1,00,000 in revenue.
Stakt was a part-time job for the founders as Millie worked in sales marketing and Taylor in financial services. They say that the salary they receive from their respective full-time jobs will be used to build their businesses. They want to expand the company and operate full time, that’s why they come to the program looking for an investor.
All the sharks refuse to invest in their companies, except Lori Greiner. She felt that entrepreneurs had potential and, therefore, decided to give them a chance. The founders of Lori and Stakt made a $1,00,000 deal for a 15% stake, plus “75 percent royalties on each unit sold until $100k payout.” “.
Create a castle
Married couple Kevin and Laurie Lane appear on Shark tank to convince the sharks to invest in their companies, Create a castle. As the name suggests, the company makes tools that make it easy to create sand or snow castles.
The founders decided with a $3,50,000 deal for 10% equity. They say they have 12 patents worldwide and made $6,00,000 last year. They said that they have not yet made much profit because they previously faced inventory problems due to the lockdown.
The sharks love their business concept, but not all are interested in investing in the company. Kevin calls it “unprofitable”, while Lori and Mark object to stating the same reason. Guest Shark Kendra was impressed with the product from the start and, therefore, offered to do a $3,50,000 deal for a 20% stake. Daymond also offered $3,50,000 for a 25% stake. After much thought and discussion, founders Kevin and Laurie have decided to come to the Kendra deal.
More details about Shark tank Season 14, Episode 3
In episode 3 of Shark tank Season 14, four pitches were introduced. While Stakt and Create A Castle get the offer, Mama O’s Premium Kimchi and Halloween moment had to leave empty handed.
The official synopsis of the latest episode read:
“Founder, executive chairman and creative director Kendra Scott, LLC, returns to Tank! First to join Tank was an entrepreneur from Fairview, Texas, who came up with a solution for carving pumpkins with his unique tool designed to remove slimy messes. Entrepreneurs from New York City present their foldable 2-in-1 fitness product, opening a new level of versatility in your workout regimen; while businessmen from Glendale, New York, bring some spice to the Tank with traditional Korean food. “
“A couple from New Milford, Connecticut, are sure to spark the imagination with their sculptural set of plays designed to give children year-round fun. In their ‘Shark Tank’ update, Melissa Harrington and Emily Castro from Sugarland, Texas and their investor Lori Greiner updated us with Fish Fixe, their simple seafood delivery service. The sharks in this episode are Mark Cuban, Daymond John, Kevin O’Leary, Lori Greiner and guest Shark Kendra Scott. “
Meanwhile, viewers can follow the latest episode on ABC or Hulu. They can also check local listings for playback.
Shark tank Season 14 airs new episodes every Friday at 8 p.m. ET on ABC.