'Shark Tank' contestants were convinced Mark Cuban was out — then he offered a life-changing deal

The entrepreneurs might have had to give up a third of their company if Cuban did not save them.

PUBLISHED 1 HOUR AGO

Screenshots showing Mark Cuban and the entrepreneurs on "Shark Tank" (Cover image source: YouTube | Sony Pictures Television)

Entrepreneurs who come to "Shark Tank" often don't get the deals that they're hoping for, but sometimes, things turn around when they least expect them to. Among investors on the show, Mark Cuban is one of the toughest to impress, but he can also be unpredictable. Nate Barbera and Desiree Stolar probably believed that they’d have to do either one of those two things on the show. But Cuban ended up being their saviour as he came in last minute to give them what they wanted.

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The entrepreneurs sought $150,000 for a 10% stake in their company, Unshrinkit. They had only sold 500 units and generated $35,000 from sales at the time of taping. But this product was unlike anything in the market. Unshrinkit is a chemical solution to return woolen clothes to their original shape after they’ve shrunk.

Stolar even wore a cashmere sweater to the show, which had shrunk earlier and was fixed using the product. It was unique, and the entrepreneurs seemed credible. In a couple of years, they predicted to hit sales worth $1.5 million. The problem was that a lot of the sharks did not believe that there was a market for the product.

Screenshot showing the product on "Shark Tank." (Image source: YouTube | Sony Pictures Television)

Lori Greiner was the first to say no, as she just did not believe that there was a big enough market for it. Kevin O’Leary had no idea how to make this one go big, but he liked the fact that it was a credible and unique product. He offered the entrepreneurs $150,000 to become a third partner in the company. But this was way more than what Stolar and Barbera were willing to give up.

Daymond John had another offer for them, but it was not great either. He, too, had no clue how to make Unshrinkit a household name. So, instead of growing the business, he wanted to get a licensing deal done. The shark offered $150,000 for 25% of the company, contingent upon securing a licensing deal. This wasn’t good news for the entrepreneurs, as they wanted to focus on the company's growth.

Screenshot showing the sharks. (Image credit: YouTube | Sony Pictures Television)

When all hope seemed lost, Mark Cuban swooped in with the perfect offer for a growing company. “You’re smart. You know what you are doing. You’ve obviously thought this through. So, I will do the $150,000 for 15%,” he said. This was by far the best offer Stolar and Barbera had received. It did not take them long to say yes to that deal. “I thought Mark was going out,” Barbera said after leaving the stage. “This is it, he gave us what we asked for. I mean, are you kidding me? This is fantastic.”