'Shark Tank' judge Kevin O'Leary invests in firm promoting bats as pets — even agrees to wear Batman suit
Kevin O’Leary might be one of the most brutal judges on "Shark Tank" and a ruthless negotiator who sticks to numbers, but he can identify the potential in unconventional ideas, as well. In an earlier episode of the show, he was willing to invest a ton of money in an unusual company that encouraged keeping bats as pets to fight bugs and pests. Turns out that these bugs are a favorite meal of the bats commonly found in the US, and the entrepreneurs decided to cash in on the opportunity.
The business was called Bat BNB, and the entrepreneurs were Harrison and Chris. They sell wooden structures that replicate a bat’s natural habitat, which one could keep around their property. The entrepreneurs claimed that each BNB could house 80 to 100 bats, which is kind of a scary thought.
The sharks were definitely intrigued by the unique business idea, but everyone was surprised by the immense wealth of knowledge that O’Leary had about bats. He even knew of a tradition in which one has to cut off a bat’s head, place it in a bag, and keep it beside the left arm at night to avoid falling asleep. Unfortunately for the entrepreneurs, none of the other sharks shared that enthusiasm.
Harrison and Chris even brought a rescue bat to prove to the sharks that they truly were misunderstood animals, but that did not help. Lori Greiner was creeped out throughout the pitch. There was no doubt that she was going to say no. Mark Cuban, Robert Herjavec, and Daymond John simply did not believe that the market for such a product was big enough for the amount of work that had to be done.
For this to be a million-dollar business, customers would have to be brought out of their stigma of the animals being dangerous, and they’d also have to be convinced to keep a whole lot of bats on their property. The sharks who said no did not believe that it was a risk worth taking.
Mr. Wonderful, on the other hand, was highly passionate about bats. He was the only one who made an offer, but it did not come cheap, as he asked to be a third partner in the business. This was too much for the entrepreneurs to give up, and they countered with 25% equity. Unfortunately, it was to no avail. Harrison and Chris eventually ended up accepting O’Leary’s terms. They did, however, ask if he’d be willing to put a Batman suit on if the deal was done, which the celebrity investor happily agreed to.
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