Every Friday, Shark Tank features five self-made investors seeking to invest in product ideas people pitch on the show. If multiple Sharks believe the product has potential they bid against each other for the right to invest.
David & Nique Mealey’s, Back 9 Dips is a perfect chip and dip company for sports fans. Their products are dip creations with buffalo chicken inside. It is a protein-based dip.
Right away, Kevin O’Leary laughed himself to tears when he heard that the couple’s signature dip has blended chicken in it. Daymond Johns called it the “Chicken Slurpee.” Kevin, Mark Cuban and Lori Greiner pointed out their weak knowledge of the food distribution industry causing them to decline the offer.
Robert Herjavec saw the venture as a tad bit too risky and bowed out. Lori ended up changing her mind and tried to partner with Daymond. She wanted to invest $150,000 in exchange for 25% equity which Daymond declined. In another odd move during this pitch, Robert decided to take Lori’s offer and jump back in.
In the end, Robert and Lori got the deal and went into business with the Mealey’s. Another company that is sure to have success with two Sharks riding its waves. If you or anyone you know needs help with their idea or business, please contact us at New Product Consulting.