ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / NEWS

A mom and son duo were so impressive on 'Shark Tank' that Lori Greiner gave them her Golden Ticket

The entrepreneurs who followed Greiner's book to scale their business got the ultimate reward.
PUBLISHED MAY 6, 2025
Screenshots showing Lori Greiner presenting her 'Golden Ticket' to the founders of Rinseroo (Cover image source: YouTube/Shark Tank Global)
Screenshots showing Lori Greiner presenting her 'Golden Ticket' to the founders of Rinseroo (Cover image source: YouTube/Shark Tank Global)

Even if entrepreneurs make an impressive pitch on "Shark Tank," it doesn't guarantee that the sharks will hand them the investment that they seek, on their terms. But while the celebrity investors are very hard to please, Lori Greiner does give entrepreneurs exactly what they ask for if the pitch is the best that she has seen all season, and she calls this her Golden Ticket. So far, only a few have managed to bag it, and the founders of "Rinseroo," who flattered the shark right from the start of their pitch, are among them. In the end, the mom and son duo of Lisa and Jake Lane got the ultimate reward of $343,000 on the show. 

Screenshot showing Lisa and Jake making their pitch (Image source: YouTube/Shark Tank Global)
Screenshot showing Lisa and Jake making their pitch (Image source: YouTube/Shark Tank Global)

In the episode, Lisa and Jake entered the tank seeking $343,000 in exchange for 5% of their company, "Rinseroo." They began their pitch with a demonstration that stressed how difficult it was to rinse shower walls and bathe pets with a simple bucket. To solve this problem, Jake pulled out the Rinseroo, a slip-on hose that makes rinsing and bathing much easier. The product came with a sprayer nozzle attached to any water outlet including a shower using a stretchy rubber attachment. The device then acts like a hose to make rinsing easy. 

Screenshot showing teh duo demonstarting the product (Image source: YouTube/Shark Tank Global)
Screenshot showing teh duo demonstarting the product (Image source: YouTube/Shark Tank Global)

Lisa shared that she got the inspiration for Rinseroo while she was vacationing at their beach house. Instead of enjoying herself at the beach, Lisa often found herself cleaning the family's dogs and the shower with a bucket. Determined to find a better way, she recruited Jake and the two came up with the idea of Rinseroo, a quick-connect, no-installation hose. After making a successful prototype, Lisa shared that they bought Greiner's book "Invent It, Sell It, Bank It!" which guided them to scale their business. "We read about how to check if your product is a hero or a zero, and we found out that ours was a hero. It is a mass market, demonstrable, and it solves so many problems!" Lisa said. This instantly impressed Greiner, who was flattered by the compliment. “You know your stuff. I love it," she told the duo.

Screenshot showing Greiner talking to the entrepreneurs (Image source: YouTube/Shark Tank Global)
Screenshot showing Greiner talking to the entrepreneurs (Image source: YouTube/Shark Tank Global)

When Kevin O'Leary questioned the company's $6.8 million valuation, Lisa explained that there was good reason behind it. She shared that in the first year itself, they sold more than $1 million worth of products, and they were on track to make $5 million from sales by the end of that year.

Furthermore, they had a healthy 85% profit margin, which made them $1 million in cash profits. Another impressive quality was that the business was run by them alone, and they only sold directly to customers. Lisa shared that their customer acquisition cost was $2.50, and their return on ad spend was 10 to 1 on Amazon.

Screenshot showing O'Leary talking to Lisa and Jake (Image source: YouTube/Shark Tank Global)
Screenshot showing O'Leary talking to Lisa and Jake (Image source: YouTube/Shark Tank Global)

After this, O'Leary raised a concern about knockoffs, which was acknowledged by Jake. The co-founder shared that while there are many knockoffs, they have a patent and a protection service that instantly takes them down. With everything laid out, the Sharks began making offers. Daymond John was the first to make a move, as he offered $343,000 for 20% equity. O'Leary quickly countered by offering the same deal for 15% equity. However, Lisa wasn't willing to give up so much of the company as she stated that it was for the future of her kids.

In response to this, John adjusted his offer to 15% while O'Leary proposed a royalty deal that would take away only 5% equity, "So, I'll give you $343,000 for 5% equity, but with a $2.50 per-unit royalty until I make a million bucks," he said. Since the royalty was hefty, Lisa hesitated to move forward, which is when Greiner jumped in. 

The Shark surprised everyone with the line "I don't do this often," prompting Lisa to say, "Is it the Golden Ticket? We wished that you would give us the ticket!". Greiner then pulled out her Golden Ticket.

Screenshot showing Greiner presenting the Golden Ticket (Image source: YouTube/Shark Tank Global)
Screenshot showing Greiner presenting the Golden Ticket (Image source: YouTube/Shark Tank Global)

She complimented Lisa and Jake for building a successful business, saying, “You followed my book. You did everything right. You are the perfect entrepreneur. You were successful." With this, Greiner agreed to give them $343,000 for 5% equity. 



 

In the end, Lisa said that her goal from the get-go was to partner with Greiner as she believed together they could get Rinseroo into every home in America.

MORE ON MARKET REALIST
The guest who collected the items over 40 years was delighted by the nearly six-figure appraisal.
11 hours ago
The guest broke down in tears after finding out that her favorite memorabilia was a rare artifact.
13 hours ago
The guests were astonished to find out how valuable their father's memorabilia was.
1 day ago
Gibbons was shocked to see the suit that he had lost on an airplane decades ago.
1 day ago
Many who didn't like Seacrest at first seemed to have come around through the season.
3 days ago
The guest couldn't believe her ears when she heard that her old gift from a friend was worth $10,000.
3 days ago
The presentation from the founders of "Bear Minimum" managed to move multiple Sharks.
3 days ago
While the expert on the BBC show did his duty of sharing an appraisal, the guest did not budge.
3 days ago
Fans couldn't believe how quickly the contestant solved the Bonus Round puzzle.
4 days ago
The entrepreneur was called a clever negotiator by all sharks although most of them dropped out.
4 days ago
The guest was in tears after learning that her family's prized possession was worth over $100,000.
4 days ago
The guest got incredibly lucky to find a Benny Andrews painting while looking at junk.
4 days ago
The guest was shocked to learn that someone would pay $20,000 for Queen Victoria's undergarments.
5 days ago
The guest's family heirloom turned out to be exactly as valuable as he thought.
5 days ago
The guest who assumed it was an ancient Chinese artifact said it felt like 'a stab to the heart'
5 days ago
While all the sharks burned calories, most were unwilling to burn their money.
6 days ago
In an interview with CNET's Patrick Colin, Harrison showed off his vintage tech items.
6 days ago
The item, which didn't seem too useful as a cup, turned out to be a significant piece of history.
6 days ago
The player had everyone on the edge of their seats as time was running out.
7 days ago
The member complained that the store had half-eaten boxes of food on the shelves for customers.
7 days ago