Shark Tank Season 12 Episode 3 introduces an adult swaddle design; inventive approach to fish luring; a retail franchise that serves a variety of cereal-centric treats; a product designed to relieve back pain; an update on Bala Bangles.
Season 12 Episode 3 in depth
Guest sharks this season include Blake Mycoskie, founder of TOMS and co-founder of Madefor, and Kendra Scott, founder and CEO of Kendra Scott LLC. Returning guest Sharks include Alex Rodriguez, baseball player and founder and CEO of A-Rod Corp, and Daniel Lubetzky, founder and executive chairman of Kind.
I’m not trying to make friends. You want a friend? Buy a dog. I’m trying to make money.Kevin O’Leary
We listed below every entrepreneur and business who has appeared on Shark Tank Season 12 Episode 3. Many scammers claim they’ve received big investments from the Sharks or they have been on the show. They were not actually on Shark Tank if you don’t see a business on this list. Some of the top places you can use to check are on Wikipedia and also ABC’s episode guide.
List with all the appearances in season 12 episode 3:
- Sleep Pod Blanket by Hug Sleep
- Chirp Wheel – Exercise Wheel for Back Pain Relief
- Cereal Killerz Kitchen
- Animated Lure – Motorized Fishing Lure
Shark Tank Air Date: 10/30/20 – Season 12 – Episode 3
|$150,000 for 10%||$150,000 for 20%||Mark Cuban and Lori Greiner|
Entrepreneurs: Angie Kupper and Matt Mundt
Hug Sleep, a company founded by Angie Kupper and Matt Mundt, presented their Sleep Pod Blanket product to the sharks in Season 12 Episode 3. Sleep Pod Blanket is lightweight, machine washable cacoon-shaped sleep pods that replicate deep touch pressure by applying gentle pressure around your entire body, simulating the feeling of being hugged.
A soft, specialized breathable 4-way stretch fabric material, made of 89% polyester and 11% Lycra that keeps you warm and comfortable. There are multiple sizes available for the Sleep Pod Move: Kids (7 to 10), Tween (10 to 14), and 4 sizes for adults (small, medium, large, XL).
The husband and wife team shared that they started the business with just $2,500 and in a little over a year generated $490,000 in sales. You can purchase Sleep Pod Blanket for adults and kids on their website or Amazon. The Hug Sleep founders were able to reach a deal and accepted an offer for 20% of their business, from Lori Greiner and Mark Cuban.
|$900,000 for 2%||$900,000 for 2.5% to be repaid in 2 installments within 18 months||Lori Greiner|
Entrepreneurs: Tate Stock
Chirp Wheel is a back pain relief product developed by Tate Stock and introduced in Season 12 Episode 3. This is the second-highest company to enter the show at a $45,000,000 valuation. The twenty-eight-year-old entrepreneur invented this roller that is designed to fit perfectly between your shoulder blades, putting pressure on the muscles around the spine.
The Chirp Wheel massages those muscles, relaxing your back and relieving all of the pain. The Chirp Wheel is FDA-Registered as a Class 1 Medical Device as the only wheel on the market. The year of the filming the show has sold $12,000,000 in sales while projected till end of the year to sell over $40,000,000.
In the beginning, Tate Stock with his Chirp Wheel launched a Kickstarter campaign and was able to raise over $1.5 million passing his goal of $10 000. The wheel is available in three different sizes and can be purchased from their website or Amazon.
|$125,000 for 10%||NO DEAL||NO SHARK|
Entrepreneurs: Jessica Burns and Jason Burns
On Shark Tank Season 12 Episode 3, Jessica and Jason Burns pitch their cereal breakfast bar and cafe business offering 10%. They offer over 100 different cereals, milkshakes, waffles, iced coffees, and ice cream and plan to open more cereal bars. Currently, they have three locations in Arizona and Las Vegas, Nevada, at the time of the show they said they have one and are in a process of opening another two.
$25,000 cost them to open a new location and this is including remodeling and equipment expenses. According to the website, “cupcake, cookies, and chocolate syrup” as well as “peanut butter, Nutella, fresh fruit” or even “Pop-Tarts and ice cream” can be mixed by guests.
The Cereal Killerz Kitchen was not able to attract the sharks to invest in their business but that didn’t stop them from continuing expanding their business.
|$325,000 for 10%||$325,000 for 10% + royalty of $3 per unit until $1 million is repaid||Kevin O’Leary|
Entrepreneurs: Sobhan Sanaee and Kanz Kayfan
Animated Lure founded by Sobhan Sanaee and Kanz Kayfan makes fishing easy with its patented mechanized fishing lure. The motorized fish system was finalized in 2015. As many other startups, Animated Lure that is electronically programmed to swim like a real fish from a crowdfunding platform like Kickstarter campaign where was able to pledge $22,041 to help bring this project to life.
The Animated Lure is available in three models: Mini, Classic and Salt Water. This rechargeable fishing lure can hold a charge up to 2 hours. In most of 2020, Animated Lure has done $247,000 in sales while their projections for 2021 is to triple the sales.
The sharks were attracted by their great margins for selling each lure for $29.95-$79.95 while it only cost them $8-16 to manufacture. Kevin O’Leary offered them a deal they gladly accepted.
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