'Shark Tank' judge Robert Herjavec calls a product 'crap' — but still wants to 'invest in it somehow'
The investors on "Shark Tank" are good sports and candid during the pitch, but as soon as numbers come into play, and they have to make a decision about funding a business, they are incisive in their scrutiny. Entrepreneurs need great products, a strong business model, cash flow, and a great pitch to impress the sharks. However, one can also do it simply by being eccentric, just like 'Copy Keyboard' founder Scotty Trujillo, who nearly compelled a Shark to invest in his product while describing it as crap.
The young entrepreneur came to "Shark Tank" with an energetic presentation for his 'Copy Keyboard,' and asked for $40,000 in exchange for 25% equity in his company. The product was a simple two-button USB device that allowed users to copy and paste by easily using the two buttons. Trujillo explained how reaching across the keyboard hundreds of times in a day cramped up his hand and left it looking like a lobster claw.
Thus, he had to invent the product that made his life easier. He explained that the Copy Keyboard can be plugged directly into a USB port and works with both Mac and PC without any software to run it. He further shared his viral success in 2021, right after launching his company, when the product got more than 20 million views on social media platforms, fetching him orders worth $20,000. He added that he had faced trouble keeping up with inventory, and at the time of his pitch, the product was only available on the company’s website, and some of the models had a 2-3 week long waitlist. Thus, he explained that the investment would help him fix the inventory issues and ship products faster.
While the pitch went well, the sharks weren't amused as they considered the product to be pointless. Things took a turn for the worse, when Kevin O'Leary, asked if the product was patented. Trujillo said that it wasn't, and this spooked the sharks, causing concerns about rip-offs.
One by one, everyone including Mark Cuban, Lori Greiner, Daymond John, and Kevin O' Leary dropped out of a deal citing various concerns. However, there was one Shark who wanted to invest in the idea although he didn't love the product. Robert Herjavec, who is a known tech mogul, said he liked Trujillo’s personality and the idea. “Hey, you’re captivating, you’re a little bit eccentric in a very nice way," he said. However, he addressed the harsh reality saying, "The product is crap.”
Even though Herjavec felt the product didn't make sense, he was nearly compelled to invest in it. "But I want to invest in it somehow…I just can’t own a copy of the keyboard product, Scotty. Seriously, all joking aside, I actually think you could do brilliant and great things," Herjavec said. However, in the end, he chose to copy the other sharks and dropped out of the deal.
In the end, Trujillo walked out of the tank empty-handed but he wasn't disappointed. “Ultimately, I’m so happy because I showed myself that I could do all this by myself," he reflected after walking out.
