'Shark Tank' investors break a major show rule to offer a $500,000 deal for a knife business

Every entrepreneur on Shark Tank dreams of securing a deal with multiple investors to double the advantage. While some trigger a shark fight, there is an elite list of people who make the investors break the show's rules. One such company was the mail-in knife sharpening service, "Knife Aid", which made not two but four investors rush out of the show's set to secure a deal.

Swedish entrepreneurs Mikael Soderlindh and Marc Lickfett brought Knife Aid to Shark Tank Season 11. The episode featured the regular panel of investors including Mark Cuban, Lori Greiner, Barbara Corcoran, Kevin O'Leary, and guest Shark, Rohan Oza. Pitching their service, the co-founders explained that they saw a gap in the U.S. market for the service which already existed in their home country. They made a knife sharpening demonstration, bringing O'Leary and Oza to the stage to test a dull and sharp knife.

They then explained how the company works. Knife Aid provides customers with a pre-paid envelope that they mail back a minimum of 4 knives for sharpening. The company charges $10 for sharpening each blade, including shipping, regardless of the size and shape.

While they sought $400,000 in exchange for 15% equity, the entrepreneurs explained that they needed American expertise to market the company and the "power of the tank" to back their service. In terms of numbers, they shared that they had $120,000 in sales in the current year and $37,000 in the month prior to filming. 

This was all the sharks needed to see before bidding started to ensue. As the first to make a move offering  $200,000 as an investment, and another $200,000 as a line of credit, for 20% equity. O’Leary jumped if offering  $400,000 for 20% straight equity. Oza decided to team up with to make the same deal as Kevin, $400,000 for 20% equity. 

Corcoran also teamed up with O'Leary to go in with $500,000 for 20% equity, a higher offer than the competing team of Sharks. Meanwhile, Cuban decided to sit out and see what goes on before making a deal. 

After some back and forth, the two entrepreneurs step away in the hallway to discuss their options. To prove her commitment and passion, Greiner follows them out of the set asking them to make a decision. "I thought this was against the rules, you know?" Corcoran said as the Greiner left the set. 

"No. There's no rules," said O'Leary as he left his chair to go into the hallway. Soon, Oza followed in as the entrepreneurs asked Greiner to raise their investment to $500,000. Once Oza and Greiner agreed, the deal was done leaving O'Leary and Corcoran trying to make a last bid in the hallway. 

As per a 2023 update from Shark Tank Recap, Knife Aid is still kicking strong. The outlet reported that the company generated an estimated annual revenue of $2 million and was active on all its channels.

Currently, their Instagram handle has more than 16,000 followers and they offer discounts and schemes regularly through their posts.