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Shark Tank: Misfit Foods, Chill Systems, Tandem Boogie, and Totes Babies

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Guest Shark, Daniel Lubetzky, joined Mark Cuban, Lori Greiner, Robert Herjavec, and Kevin O’Leary in the Shark Tank to review four businesses that are hoping to land a financial and strategic partnership with one of the famous Shark investors. Misfit Foods, Chill Systems, Tandem Boogie, and Totes Babies showcased their products while pleading their business case with the Sharks in hopes of going home with a deal in tow. Although all of the businesses sparked great conversation and ideation in the Shark Tank, only three of these businesses left the Shark Tank with a deal.

Misfit Foods Land a Deal With Two Sharks

Following recent culinary trends, Phil Wong has noticed that consumers are trying to balance the amount of meat and plant-based food products they consume. His signature sausage blends contain half meat and half veggies. Misfit Foods boast lower sodium and cholesterol values than other better-for-you sausage products. Seeking $250,000 in exchange for 5% equity, Phil is looking for a partner that can help him grow his business through their initial success and beyond.

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    Impressed with the flavors of Misfit Foods’ sausage blends, multiple Sharks were interested in partnering with Phil. Lori Greiner, Mark Cuban, and Daniel Lubetzky all extended financial investment offers to Misfit Foods in hopes of capitalizing on the $1.2 million in sales that Phil is projecting to close out the year. Mark and Daniel decide to partner together for the first time in the Shark Tank and come to an agreement with Misfit Foods. The pair will invest $300,000 in exchange for 15% shared equity.

    Chill Systems Strikes Out in the Shark Tank

    Big tech alums, Chase Mitchell and Brian Bloch, came to the Shark Tank to showcase their sustainable cooler alternative Chill Systems. Their specially designed chiller keeps cans and bottles cold for up to 6 hours, simply by cooling it off in a residential freezer before use. On a mission to eliminate single-use plastics (as are used in ice bags) and reduce potable water waste, Chase and Brian are hoping to partner with a Shark who is passionate about their social mission of sustainability and is willing to invest $150,000 in exchange for 15%.

    The Sharks are very hard on Chase and Brian about their product and their business strategy not aligning with their core values. They also don’t believe that the pair have a solid value proposition and are hiding behind their social mission to acquire customers. Aside from flaws with their business model, the Sharks also question the need for the product as there are other sustainable style coolers on the market who may be able to hold more beverages than Chill Systems. Ultimately, none of the Sharks decided to extend an offer to Chill Systems and they left the Shark Tank without a deal.

    Tandem Boogie Snags a Partnership With Two Sharks

    The Clark family came to the Shark Tank to showcase their boogie board system that allows two people to catch waves together, Tandem Boogie. Their patent-pending product features a special air-dynamic design and compact packaging to ensure that it can easily be packed and transported to the beach. Each of the family members are accountable for a part of the business. Through Kickstarter The Clarks have successfully sold $43,000 in Tandem Boogie Boards as a brand new startup company. The Clark’s are hoping to find a Shark willing to invest $100,000 for 10% equity in Tandem Boogie.

    Although Watersports products can be a tough market, Robert really likes the Clark family. He also believes that the pandemic has pushed families into more outdoor fun, so Tandem Boogie needs the help to get to market quickly to capitalize on that trend. Because there is a lot of work to do in a short amount of time, Robert Herjavec offers Tandem Boogie $100,000 in exchange for 35% equity. The Clark family excitedly accepted his offer.

    Totes Babies Accepts Lori Greiner’s Partnership Offer

    Lindsey Fleischhauer and Stan Valiulis, a father/daughter duo from Illinois, are on a mission to make shopping with infants easier and safer. Their patented product, Totes Babies, is an adjustable sling that fits over the top of a shopping cart to easily and safely place your infant carrier without losing cart space. Totes Babies is compatible with all major shopping cart designs and allows new parents or parents of infants to easily accommodate an infant carrier while able to still fill their carts and easily complete their shopping trips.

    Several of the Sharks are interested in investing in Totes Baby. Daniel Lubetzky and Robert Herjavec partnered together to offer Lindsey and Stan $100,000 in exchange for 25% equity. Lori Greiner, who already has a suite of baby products in her portfolio, would like to license the product to a Major baby brand. Lori also offered to invest $100,000 in exchange for 25% equity. Totes Babies accepted Lori Greiner’s offer.

    If you were a Shark, which of these businesses would you have invested in? Do you think that any of the Sharks missed out by not investing in Chill Systems? Are there any businesses you were surprised to receive an investment offer from the Sharks? Start the conversation in the comments below.


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