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'Shark Tank' contestants convince Mark Cuban to close $150,000 deal after he initially rejected them

Mark Cuban pressed for an instant yes, but the entrepreneurs waited to hear other Sharks’ offers, and it turned him off.

BY NILAVRO GHOSH

PUBLISHED 3 HOURS AGO

Screenshots showing Mark Cuban and the entrepreneurs on "Shark Tank" (Cover image source: YouTube | Shark Tank Global)

Mark Cuban is usually quite steadfast when it comes to his role on "Shark Tank." If he says no to offering a deal, the chances of him coming back and making that same deal are as slim as it gets. Yet that is exactly what he did in an earlier episode of the show. The Shark was impressed by the product and believed the entrepreneurs had decent margins, but he did not have a lot of patience.

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The entrepreneurs were Steven Mazur and Eric Huang, and they sought $100,000 for a 12.5% stake in their company, Ash & Anvil. It is a clothing brand that sells specialized clothes for customers under the height of 5’8”. That’s what the entrepreneurs considered to be short, at least by American standards. Both of them were short and believed that mainstream shirts did not suit shorter men, as the clothes would often look baggy.

Of course, one could shop at the kids' section if they wanted smaller clothes, but no one wants to have that embarrassing experience. Ash & Anvil’s shirts are designed specifically for shorter men who like to wear their shirts without tucking them in. These shirts are suited for the 5’8” and under height range and would not look baggy. It was something that one doesn’t know they need until they’re shown.

Screenshot showing the shirts. (Image credit: YouTube | Shark Tank Global) — Screenshot showing the shirts. (Image source: YouTube | Shark Tank Global)

The entrepreneurs argued that there were clothing sections for women with different body types, but for men, the only specialized clothing products were for those who are taller and bigger than the rest. The clothing market for shorter men seemed to have a vacuum. That’s what the entrepreneurs hoped to fill. Within nine months of launching, they recorded $130,000 in sales and sold out twice. It was not a huge figure, but for such a new company, it seemed good enough.

Getting an offer was tough, though. Robert Herjavec was the first to back out of offering a deal, as he did not believe he would be the right investor for this type of clothing. Lori Grenier also did not believe that she would be the right fit. Daymond John, who is not very tall himself, also said no to making an offer because he simply did not want to accept the fact that he was short. The only two left were Cuban and Kevin O’Leary.

Screenshot showing the sharks. (Image credit: YouTube | Shark Town Global) — Screenshot showing the sharks. (Image source: YouTube | Shark Town Global)

Cuban liked the entrepreneurs and offered them a deal worth $150,000 for 25% equity. However, he wanted the founders to immediately accept it without waiting for Mr. Wonderful's offer. The entrepreneurs waited as O’Leary offered $100,000 for 15% equity. At that point, Cuban said he was out as the entrepreneurs were taking way too long.

However, they did not want him to back out. “If you are in, we will take the offer,” Mazur said. “Okay, you are lucky I like you,” the response came from the Shark. The two of them almost lost out on the deal thanks to their lack of decisiveness, but you can’t blame an entrepreneur for assessing all their options.