Shark Tank's Mark Cuban Calls Out THE SLEAZIEST FRAUD!Let me know what New Movies and TV Shows you would like me to debunk. Expect weekly videos as this cont. Mark Cuban is known for outbidding his co-stars at the last second, but at the end of the Kombucha Shop's pitch, it was Cuban who got out-Sharked.Entrepreneur Kate Field blew the Sharks away with. That Gary RI Albion one time there was copper is used it to trim your hair now like what he's Walt and have known. So you just does the taking. 'Shark Tank's Mark Cuban reveals his biggest.
The Longhairs is a company from San Diego, CA, that wants to address the longstanding issue of what men with longhair should use to tie up their locks. And, while the hair ties are the main product, they are also tip-toeing into hair care with a hair serum to keep long hair lively.
The hair ties are a series of scrunchies designed specifically for men and, presumably, forego patterns such as butterflies or unmasculine flowers. The product is produced for $1.60 per unit and retail on Amazon for $12. While women's hair ties can cost as little as $2 for a pack of 100, the entrepreneurs claim that no one is specifically marketing to men with long hair nor are those package much more than fancy rubber bands.
Needless to say, the two entrepreneurs who appeared in the tank to pitch had very long, very well maintained hair. They market to new customers through podcasts, articles, and viral videos, capturing 5,000 customers thus far through this method.
This deal aired on Episode 9.16.
Making A Deal
Mark Cuban saw the appeal behind this business and offered The Longhairs $100,000 for 20%. Originally, the entrepreneurs asked for only $95,000 for 10% equity so this represented a little bit more money for a much larger ownership position and a bite of $450,000 from the original value.
Given that the business is selling hair ties to men and that they got an offer from Mark Cuban, the entrepreneurs took the deal.
Mark Cuban Dying Hair Color
Episode 9.16: Joe's Gourmet Fish Fry - G.O.A.T Pet Products - Duderobe - The Longhairs
Shark Tank host Mark Cuban surprised a pair of entrepreneurs--and all four sharks--by offering to buy 100 percent of a struggling small business during Tuesday's special episode.
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Sisters Ellie Brown and Becca Nelson came to the tank seeking $100,000 for 30 percent of their wearable fabric sticker company evREwares. The company's flagship product, Sticky Ties, is a collection of reusable stickers consumers can wear on clothing to make it look like they're wearing bow ties and neckties.
Mark Cuban Dyed Hair
While the company has generated $600,000 in revenue since debuting in 2011, sales have tanked recently, with just $50,000 in projected revenue for 2014.
The problem with the business, according to the sharks, is the price of the stickers, which sell for between $4.99 and $7.99. Brown and Nelson made the case that Sticky Ties's reusability is what warrants a higher price than all other party stickers on the market, but the sharks weren't biting.
'Ninety-nine percent of the market doesn't care that it's going to last a lifetime,' said shark Kevin O'Leary. 'I think the market has spoken. They don't like it.'
One by one, sharks Barbara Corcoran, Lori Greiner, Robert Herjavec, and O'Leary all passed on investing in the business.
Cuban, however, offered $200,000 for 100 percent of the mismanaged company, and pledged to keep Brown and Nelson involved as contracted designers.
Mark Cuban Dying Hair Gray
'You guys are lost,' he said. 'You have a nice little business, [but] you have no idea what you're doing.'
Mark Cuban Dying Hair White
After a very emotional conversation that saw both Brown and Nelson burst into tears, the pair initially took Cuban's offer, but then apparently changed their minds after the show.
'I promise to take good care of your baby and do the best I can to raise it from the dead,' Cuban said during the show, trying to cheer them up. 'I sold my company for $5.7 billion, and I was sad when I sold it. For about a minute.'