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Shark Tank: Electra Beverages, ALL33, His & Hers Bar and TrophySmack

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Lori Greiner, Daymond John, Mark Cuban, Kevin O’Leary, and Barbara Corcoran came to the Shark Tank to hear business pitches from four companies who are looking to land a strategic partner and investor. Electra Beverages, ALL33, His & Hers Bar and TrophySmack each came with unique asks, and sometimes high valuations, in hopes of landing a Shark. Ultimately, only two businesses, Electra Beverage and TrophySmack went home with offers from the Sharks.

Electra Beverages Lands a Deal With Barbara Corcoran

Former WNBA player, Fran Harris, came to the Shark Tank to showcase her new sports drinks, Electra Beverages. Because so many of the sports drinks on the market are filled with sugar, artificial dyes, and salt, Fran decided to create a better-for-you alternative to the traditional functional hydration beverages. Seeking $250,000 in exchange for 20% equity in Electra Beverages, Fran came to the Shark Tank in hopes of landing a Shark that can help her break into the brutal beverage industry as her product has just launched this year.

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    Because of the competitive nature of the beverage industry, coupled with a lack of sales data to justify their investment, the Sharks are very concerned about investing in Electra Beverages. Although they love Fran and her confidence, they see the business as too much of a risk. After all of the other Sharks went out, Barabara decided to make a contingent offer of a $100,000 cash investment with a $250,000 line of credit. The contingency is that Fran has to land a prominent sports figure to also invest and promote the product. Fran and Barbara come to an agreement and make a deal.

    ALL33 Leave The Shark Tank Without A Deal

    Bing Howenstein, CEO of ALL33, came to the Shark Tank to find a Shark willing to invest $500,000 for 2.5% of his company. ALL33 offers an alternative to traditional desk chairs that help workers to continually move, combatting sedentary lifestyles in the office. Their patented ergonomic sit-motion technology helps to engage all 33 vertebrae and keep them moving to prevent posture and fatigue issues. The chair also helps to engage core muscle groups, promoting increased fitness.

    Although the company has done well through a kickstarter campaign, the Sharks do not agree with the companies valuation. Because the sales don’t justify their valuation, and they are asking for such a low equity transaction, the risk is too great for the Sharks. They feel that the likelihood of them recouping their investment is not great. They also felt that the product lacked credibility, despite a video endorsement from Justin Beiber. The Sharks all decline to extend an offer to ALL33 which caused Bing to leave the Shark Tank without a deal.

    His and Hers Bar Strike Out In The Shark Tank

    After experiencing career loss and failed entrepreneurship, Jennifer and Michael Gallagher, decided to try their hand at creating a consumable product that would change people’s lives. The couple created a recipe for an aphrodisiac snack that combines 7 superfoods known for increasing libido in men and women. With 220 calories per bar, this snack boasts a blend of earthy, nutty, and spicy flavors and claims to help spark intimate moments naturally.

    Since launching in June of 2020, His and Hers Bars have generated about $2,000 in sales, however, they are asking for an investment of $50,000 in exchange for 10% equity in their company. Because the Sharks are concerned with their equity calculations, sales numbers, and business model, they don’t believe that the company is an investible business yet. The Sharks strongly encouraged them to get additional jobs outside of His and Hers Bar which would allow them to continue to grow their brand while not relying on the product to sustain their livelihood. Michael and Jennifer left the Shark Tank without a deal from the Sharks.

    TrophySmack Partners With Mark Cuban

    Business partners Matt Walsh and Dax Holt came to the Shark Tank in hopes of securing $600,000 in exchange for 8% equity in their company, TrophySmack. With a background in logistics and a naturally competitive nature, Matt came up with the idea for their customizable trophy business after winning during a fantasy sports league with his friends. After trying to find customizable trophies to celebrate his win and failing, Matt and Dax decided to create their own company.

    Because they are one of the only trophy companies that have figured out how to reduce logistics costs to fully customize trophy options, they have seen explosive growth year-over-year and are already drawing a profit. In the last year alone they have sold $1.9 million in trophies and are not seeing a drop in sales due to Covid-19. The Sharks are very impressed with their numbers and business model. Several Sharks make them an offer, seeing clear ways that they can help them to expand their business. Ultimately, they decided to partner with Mark Cuban who offered to invest $600,000 in exchange for 17% equity.

    What did you think about the businesses featured in this episode of Shark Tank? If you were a Shark, which of these businesses would you have invested in? Do you think the Sharks missed an opportunity by not investing in ALL33 or His and Hers Bar? Start the conversation in the comments below!


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