'Shark Tank' offers a massive deal to founders who made the judges snuggle on a couch in wild moment
Although the atmosphere on "Shark Tank" is jovial and, at times, hilarious during the pitch, things change quickly as soon as sharks start scrutinising the numbers and the negotiations begin. The investors could be seen having a laugh together minutes before ruthlessly competing to seal the deal with a promising startup. This is what the co-founders of "The Original Comfy" brought out while demonstrating their blanket hoodie. The duo, Brian and Michael Speciale, not only made Kevin O'Leary, Barbara Corcoran, and Robert Herjavec snuggle on a couch, but they also made the sharks fight for a deal as well.
The Speciale brothers entered "Shark Tank" in Season 9, seeking $50,000 for 20% equity in their company. They introduced one of the coziest products to ever feature on the show called 'The Original Comfy,' a sherpa-lined, wearable blanket that makes the user feel like they're living in a "giant hug." Sharing the backstory, the brother told the Sharks that the idea came to them when Michael saw his nephew wearing Brian's sweatshirt on the couch like a blanket. With his knees tucked in, the kid looked incredibly comfy, so the brothers thought of bringing that feeling to the world.
As they handed out samples, all of the Sharks except Lori Greiner quickly put the hoodies on. O'Leary, Corcoran, and Herjavec even walked up to the couch to get a taste of the feeling that Michael's nephew experienced. As the three Sharks snuggled together on the couch, the brothers shared that they intended to sell their product for $39.99.
While they got a few chuckles and applause from the sharks, Greiner cited a major concern with the product. She claimed that the sweatshirt was similar to another product called "Snuggy," which was already available in the market. However, the Speciales stressed that their hoodies were different as Snuggie is more like a giant robe that has to be taken off once people get off the couch. Although they seemed to make a point, trouble mounted when the sharks asked for the sales numbers. The brothers shared that they were still pre-sales and they have only got one order for their brand-new product. With this out in the open, the Sharks started dropping one by one. Greiner was the first to go out, saying that she does a lot of business with Snuggy, so she can't invest.
Mark Cuban also backed out, stating that the brothers weren't ready for an investment yet and that they may burn through a lot of cash while trying to figure out what works for them. O'Leary cited similar reasons and dropped out as well. However, there were two Sharks left who were eager to make a deal. Herjavec made the first move, offering the duo $50,000 for a whopping 50% of their company. "I'll take a flyer. I'll do the $50,000 for 50%. That offer makes me comfy," he said.
Corcoran then revealed that Herjavec's offer had upset her as she was hoping to make a joint offer. "You know what I really don't like about Robert? He said let's do this deal together. I'm like okay and then he makes the offer without me," she said.
To get back at Herjavec, Corcoran made a sweeping offer of $50,000 for 30% equity. "I'll of course underbid him. I want to just to get rid of him and get even," she said. As the two Sharks squabbled, Michael countered Corcoran's offer by putting 25% equity on the table, which was declined.
The duo then accepted their fate and took the original deal offered by Corcoran. Thus, in the end, the brothers left with a comfy deal with a Shark that appreciated their product.
