Shark Tank USA Season 15 Episode 01 Companies

Season 15 of Shark Tank premiered on ABC on September 29, 2023, and wrapped up on May 3, 2024, with a total of 22 episodes. Each episode featured entrepreneurs pitching their innovative business ideas to a panel of "Sharks" and hoping to secure the funding they need to grow their startups. In return, the Sharks offered deals and sometimes valuable pieces of advice along the way.

Episode 1 of Season 15 kicked off with exciting new pitches from talented entrepreneurs, each with unique business concepts. Let’s dive into what happened in this first episode of Shark Tank USA Season 15, all about the standout pitches and the deals that made it all the way to the negotiation table.

The panel of Sharks for season 15 episode 01 of Shark Tank USA include:

Mark Cuban:  Owner of Dallas Mavericks and the author of How to Win at the Sport of Business 

Daymond John: Founder, President, and Chief executive officer of FUBU

Lori Greiner: Known for the QVC show Clever & Unique Creations 

Kevin O'Leary: Founder of O'Leary Ventures

Candace Nelson (Guest Judge): Co-founder of Sprinkles, the world's first cupcake bakery and ATM, and Pizzana, a fast-growing chain of award-winning Neo-Neapolitan pizzerias.

Contestant No. 01 of Shark Tank USA S15 Ep01: Gatsby Chocolates

The episode 01 of season 15 of Shark Tank USA kicked off with the pitch of Bouton Brother.

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What does Gatsby Chocolates do?

Gatsby Chocolates sells low-sugar (75% less), high-fibre, keto-friendly, vegan, dairy-free, gluten-free chocolates with half the calories of traditional Chocolate bars. Gatsby Chocolates are a substitute for traditional chocolates and come in different flavours like fudge brownie, sea salt, extra dark and more.

What did Sharks say?

Sharks were impressed with the taste of the chocolates. But Shark Lori and Candace were not impressed with the packaging of the Gatsby chocolates. They said the packaging doesn’t reflect the true value and genuineness of the chocolate. Moreover, they said that the name of the brand doesn’t contribute to the presentation and marketing of the chocolate.

Shark Lori made an offer of $250K in equity and $250K as a loan with 6% interest for 20% stakes.

Shark Cuban and Daymond figured that it wasn’t the right investment for them and opted out for that reason.

Shark Kevin liked the business and offered $500K as a venture debt for 12% equity.

The duo expressed that they were there not only to seek funding but also to have a Shark on board who could help them with the branding and marketing of the chocolates.

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Shark Lori revised the same offer for 25% as she was ready to contribute to the branding and marketing of the product.

Later, Shark Cuban joined hands with the Shark Lori and made an offer of $250K loan for 6% interest + $250K for 20% equity which increases to 30% at $10 Million in sales and 40% at $50M and closed the deal.

Contestant No. 02 of Shark Tank USA S15 Ep01: Pie Wine

Next up to pitch on Shark Tank USA Season 15, Episode 1, was a startup called Pie Wine.

 What does Pie Wine do?

Pie Wine sells "The OG Pizza Wine". Their wine is sweet and lightly sparkling wine which is crafted to be the perfect pairing for pizza. Pie Wine offers three expertly crafted flavours. Each flavour is designed to complement a variety of pizza styles which delivers an unparalleled pairing experience for pizza enthusiasts. The company's tagline proudly states, "Born in Italy, Perfected in California."

What did Sharks say?

Shark Lori said that the packaging of wine doesn’t showcase what it actually is. Moreover, the company was just 8 weeks old, so it was too early for her to invest in the company as she didn’t know anything about it.

Shark Kevin opted out as he was launching his own sparkling wine at the time.

Shark Cuban said he had already invested in a similar company called B Box and it is doing great, so this wasn’t the right investment for him.

Shark Daymond opted out saying that there is enough competition in the market as his own Shark friends are in the same business.

Shark Candace said it was not the right investment for her as she was not the target market for the product and opted out for that reason.

Contestant No. 03 of Shark Tank USA S15 Ep01: Worthy Brands

Next in line to pitch on Shark Tank USA Season 15, Episode 1, was a startup called Worthy Brands.

 What does Worthy Brands do?

Worthy Brands is the parent company of See Worthy Patches, Wound Worthy and Port Worthy Patches. Worthy Brands now offers a wide range of adhesive patches in various colors and designs. The company specializes in medical patches and bandages for people of all ages which include patches to help with amblyopia (lazy eye) and chemotherapy ports. All of their products feature gentle adhesives and fun, creative designs that make them suitable for both kids and adults.

What did Sharks say?

All the Sharks appreciated the work Page has done to help children cheer up and get comfortable with eye patches while struggling with certain conditions.

Page expressed that she isn’t in need of funding as the company is doing great but she’s looking for someone who can help with marketing and managing the business.

Shark Kevin opted out saying that as much as he appreciates entrepreneur’s work but it isn’t the sector of investment for him. Shark Lori withdrew for the same reason.

Meanwhile, Sharks Cuban, Candace and Daymond said that Page is doing a great job running the company on her own and doesn’t need a partner, as she’s fully capable of handling it by herself.

Contestant No. 04 of Shark Tank USA S15 Ep01: Gently Soap

The next and final contestant to pitch on Shark Tank USA Season 15, Episode 1, was a startup called Gently Soap.

 What does Gently Soap do?

Gently Soap is a line of bath products. The company makes soap for people with sensitive skin. The company removes essential oils, synthetic fragrances and any ingredients that could irritate conditions like eczema. Their soaps have a mild, natural scent and are gentle enough for those with ultra-sensitive skin. Gently Soap is an all-natural, botanical soap company that uses eco-friendly packaging for its products.

What did Sharks say?

Shark Lori opted out as it was the right sector of investment for her. Meanwhile, Shark Cuban said he couldn’t connect to the brand and opted out. Shark Daymond withdrew by stating that he didn’t think he could offer any help to the product.

Shark Kevin made an offer of $75K for 10% equity, along with a $1 royalty per unit until he recoups $500K, after which the royalty would drop to 20 cents per unit for perpetuity.

Shark Candace was impressed by the entrepreneur's passion and the quality of the product. She offered $75K for 30% equity and promised to fully support the startup in every way.

Kristen was hesitant at first but eventually countered with an offer of $75K for 15% equity. After some back and forth, she revised her offer to 25% equity and sealed the deal to join hands with Shark Candace Nelson.

Conclusion

In conclusion, Episode 1 of Shark Tank Season 15 was an exciting ride, showcasing creative ideas and passionate entrepreneurs determined to bring them to life. Two of the four contestants walked away with deals, while the other two gained valuable advice to help move their businesses forward. Shark Tank has done a fantastic job highlighting incredible startups. Let’s see what exciting pitches and deals await in the next episode of Season 15.