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Shark Tank: SwipenSnap Accepts $120,000 From Kevin O’Leary and Lori Greiner

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As a single mother Alina Kravchenko knew how difficult it was to quickly and easily apply diaper ointment onto her baby during each diaper change. While keeping one hand safely on the baby, the other hand would be fighting with the ointment tube leaving diaper ointment all over herself and her baby. Alina knew that she could not be the only parent struggling with this and so she developed SwipenSnap, the world’s first and only one-hand ointment tube. Using a patented double screw lid, SwipenSnap can connect to any commercially available diaper ointment and allows the user to remove the cap and apply the ointment with only one hand.

Although Alina developed this product ten years ago, she has taken her time to read and study books on how to file for patents. She took all the necessary steps in applying for patents for SwipenSnap so that she could be fully covered when she took the product to market. Because she has just recently begun promoting her business, her sales are very low and she would like to partner with a Shark that is able to help expand her product sales through licensing deals. Alina is seeking an investment of $120,000 in exchange for 10% equity in SwipenSnap.

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    Daniel Lubetzky was quick to be the first Shark to make an offer, as he was very interested in the double screw top technology, not necessarily the SwipenSnap as a product. He wanted to partner with Lori Greiner and invest $120,000 in exchange for 33.3% of SwipenSnap, but would like 100% of any other applications they may stumble upon with the lid. Kevin O’Leary also asked Lori Greiner to partner with him and they offered to invest $120,000 in exchange for 50% equity (25% for each of them). They would be focusing strictly on licensing deals which would be the easiest way for Alina to get paid from SwipenSnap. She agrees to Kevin and Lori’s offer.

    What did you think of this product? Would you purchase and use the SwipenSnap? If you were a Shark would you have been willing to invest in the company? Comment below to start the conversation!


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