'Shark Tank' contestants won't take no for an answer — end up with $100,000 deal against all odds

While being stubborn on "Shark Tank" isn't usually great for entrepreneurs, sometimes it works out, like in the case of the co-founders of Baubles + Soles. The entrepreneurial couple, Duc and Lisa Nguyen, dug in and refused to leave the show without a deal. Impressed by their tenacity, Fubu founder Daymond John decided to extend a helping hand by investing $100,000 in their company. 

In the episode, Duc and Lisa were seeking $100,000 for 15% equity in their company. Lisa began the pitch by sharing a problem that moms across the world face. She explained how quickly kids grow out of the lovely shoes their parents buy, leaving them disheartened. Thus, to solve this problem, she came up with Bauble + Soles, a line of shoes with attachable, interchangeable decorations that can grow with children. As they handed out the samples, the Sharks were impressed by the quality and feel of the products. The couple shared they were looking to get a strategic partner, apart from the investment. 

When the investors asked Lisa about her background, she shared that she left Vietnam on a fishing boat with her mother when she was a child and spent three years in a refugee camp. She then grew up in Australia and helped refugees pro bono in the Philippines, before moving to America. 

While all five Sharks were visibly moved by Lisa's story and impressed by the product, they didn't think it was the next big innovation in the industry. Furthermore, when they shared that the company had only $150,000 in sales, the judges weren't convinced. John was the first to doubt the product, expressing that inventory would be a nightmare, before dropping out.

Next to express concerns was Robert Herjavec, who didn't see enough potential for online sales, so he dropped out as well. Even when the Sharks critiqued the company, Lisa kept pitching and interjecting stats and information to entice them. However, Mark Cuban still decided to drop out as he thought the product was too similar to others in the market. Soon, Kevin O’Leary and Lori Greiner followed the lead and dropped out as well. 

Even with all the Sharks out, Lisa and Duc refused to leave the Tank without a deal. After trying hard to convince them, Lisa proposed to "de-risk" the investment. She floated the idea of paying the investment back with profits a few years down the line. Impressed by her tenacity, John extended an offer of $100,000 for 25% equity. Without much discussion, Lisa and Duc accepted the deal. 

Unfortunately, Baubles + Soles failed to become a Shark Tank success. According to Looper, the company initially saw traction and growth, but it soon went silent in the public eye. Years later, in 2023, they announced their official closure on social media.

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