'Shark Tank' contestant calls the judges 'serial killers' to their face and still gets $300,000 deal
Investors on “Shark Tank” can be ruthless when it comes to negotiating deals, and some of them are known for sharp criticism. But despite that, none of the entrepreneurs have accused the sharks of being serial killers, except one person. The entrepreneur named Aabesh De was looking for $300,000 for a 10% stake in his company, Flora, and suggested that the sharks might be serial killers.
“Sharks, I’ve got a confession to make. I’m a serial killer,” he said. “But before you judge me, here’s the thing. I’m guessing that some of you might be serial killers, too.” He even showed police mugshots of himself and the sharks before explaining himself. The entrepreneur was trying to bring to light the fact that most people did not know how to take care of their plants, which led to the deaths of their leafy friends.
As a result, De created something called a Flora Pod. The pod went directly into the pot in which one has their plants, and through an app, it showed exactly what the plant needed to thrive, such as moisture, heat, light, and humidity. When it came to sales, the entrepreneur revealed that he had earned $192,000 in gross sales the year before and $100,000 year-to-date at the time of recording.
While everyone wants their plants to thrive, plant care is a niche industry. Not a lot of people have the time or money to put into the task of taking the best care possible of their potted friends. A lot of the sharks had no idea what the industry was even like. Robert Herjavec and Mark Cuban were two such people, and they both backed out pretty quickly. Kevin O’Leary had a more direct approach.
“I was totally blown away by your presentation. You are the guy. The problem with this space is I simply don’t give a ****,” he said. Barbara Corcoran liked the idea, but since the app required the user to pay a subscription fee after purchasing the pod, she said no to offering a deal. The whole business model did not sit well with the veteran investor. The only person left was Lori Greiner.
She liked the idea and the business, but 10% was too little for the shark to bite. So, when De asked what she’d want ideally, she said 30%. This was way more than what the entrepreneur was willing to give up. However, he was smart enough to find a way around the problem. He proposed a 15% stake plus 5% in advisory shares and a $2 royalty fee per product until the $300,000 was paid.
The sharks were impressed by his intelligence, and that’s what got him over the line. “I think you are smart as hell, and I like to invest in people that are smart as hell, and you got a deal,” she said. The entrepreneur jumped into the air in celebration of his victory at that point.
