'Shark Tank' judge Mark Cuban offers better deal to contestant just to cut off 'greedy' Kevin O'Leary

"Shark Tank" investors are known to be ruthless while dealing with entrepreneurs on the show, but at times, they even fight it out with other sharks. They do collaborate to offer lucrative joint deals, but sometimes things might turn sour. Cracking a deal with Kevin O'Leary, a.k.a Mr Wonderful, isn't an easy feat. The royalty king of the Tank often puts up steep offers with no wiggle room for entrepreneurs. While his methods work sometimes, they often backfire, like the time when Mark Cuban swooped in to steal a $100,000 deal with ProtoBev as O'Leary was being too greedy.

Alexander Simone, the founder of ProntoBev, was seeking $100,000 for 5% of his business. During his pitch, he explained how important it is to cool down wine to the right temperature before consuming and how difficult it is to do so quickly. He claimed chilling wine with ice waters down its taste, and to solve this problem, he came up with ProntoBev. He told the Sharks that his device chills wine in just 30 seconds without diluting it or compromising its taste.

He explained that the product uses a special “pronto gel” under the stainless steel to quickly transfer heat, and it can chill a bottle of any drink, including coffee, juice, and whiskey. "Experts recommend that each variety of wine be chilled to its specific temperature, which truly unlocks the flavors within," Simone explained.

When asked about the numbers, Simone shared that the product was still in the production phase and he had raised $54,000 to fund the cycle. He shared that he initially sold ProntoBev on IndieGoGo for $89, and it cost him $22 to make. He further planned to take the retail route and sell each unit for $129.

With no substantial sales, the Sharks weren't keen on making a deal. Daymond John dropped out first as he wasn't comfortable with the valuation. Cuban followed his lead, and Robert Herjavec went out too, saying that it was too early for him to invest. On the other hand, O'Leary seemed interested in making a deal. Sensing that all the Sharks were out, he floated an opportunistic deal worth $100,000 for 50% equity.

The path seemed clear for Mr  Wonderful as Lori Greiner dropped out shortly after he made the offer. Coming back to O'Leary, Simone countered the offer with 20% equity. However, O'Leary wasn't willing to budge, and the other Sharks weren't happy. "Give him $200,000 or 250,000. Give him the extra $100,000, if you want 50%," Cuban said. Simone then reasoned that he needed equity to raise another $100,000 for production.

Cuban then jumped in again to say, "You know, he owes less than 50%. It's not his company anymore." "Well, cry me a river, Mark," O'Leary responded before asking Simone to just say yes or no to the deal. Annoyed by his greed, Cuban jumped back in, asking Simone about his next product and the $100,000 he was going to raise. Satisfied with his answers, Cuban offered him $100,000 for 25%, contingent on raising the additional $100,000. Simone agreed in a blink, and they left Mr. Wonderful in the dust.

According to "Shark Tank" Recap, the deal with Cuban never closed. Furthermore, ProntoBev struggled to bring its products to the market, and its website and social media handles are currently inactive.

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