'Shark Tank' judge Robert Herjavec tells founders 'I'm suing you' after their product made him bleed
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Investors on “Shark Tank” may be ruthless while they closely scrutinize the numbers before investing in a business, but they are good sports when it comes to trying out products as part of a pitch. But it's very rare for one of them to sustain an injury and bleed because of a product, and Robert Herjavec was the shark who faced that misfortune during an episode. The worst part is that he offered a deal to the entrepreneurs but didn’t manage to close it. At the end of the segment, he even threatened legal action against the contestants.
The company that was in the spotlight on this occasion was Hug Sleep, founded by the husband-wife duo of Matt and Angie. The company sold a product designed to wrap around a person completely to give them a cozy and comfortable sleeping experience. The material was pitched as lightweight, breathable, and one that didn't retain heat. It even had a pocket at the bottom from where users could stick their feet out for temperature regulation.
Hug Sleep, Sleep Pod The Original Cooling Machine Washable Wearable Blanket + Weighted Blanket Alternative As Seen on Shark Tank for Men, Women, and Teens | Shopee Philippines https://t.co/i8R0ivKeRD pic.twitter.com/nJEvMn2KQk
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Herjavec was asked to try it on a bed and while he seemed comfortable at first, he rolled off the bed and landed on his face on the floor while attempting to push his foot out. The celebrity investor sustained a small cut on his nose and said, “I’m bleeding people.” Amidst the chaos Mark Cuban chimed in saying, “Get a lawyer.” "I'm suing you for making me bleed. I'm not gonna sleep at night now," Herjavec trolled the couple.
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The entrepreneurs had asked for $150,000 for 10% equity and every single shark offered them a deal in a rare occurrence on the show. Lori Greiner and Mark Cuban teamed up to offer $300,000 for 20% while the other three teamed up and offered the same deal. In the end, Matt and Angie decided to go with Cuban and Greiner, since they were the ones that the entrepreneurs wanted to work with before coming to the show. "I'm suing you," Herjavec said after the deal was struck.
This is not the first time Robert Hervajec had to experience some discomfort while testing out a product on “Shark Tank.” In an earlier episode of the show, the founders of a company called Plunge pitched a tub that regulates temperature and filters the water continuously for those who take cold plunges. The entrepreneurs Michael Garrett and Ryan Duey, asked Herjavec to take a cold plunge on set and he happily obliged. When he first got inside the tub, the celebrity investor was not comfortable at all. He shrieked and screamed but after taking a few deep breaths, he seemed much more settled and was quite happy when he got out. “It’s incredible,” he said, before adding “You feel your blood flowing…like I am ready to go.”
Garrett and Duey had asked for $1.2 million for 5% equity but Herjavec liked the product so much that he offered $2.4 million for 12% of the company. This was a good enough deal for the entrepreneurs and they accepted it.