Shark Tank USA Season 15 Episode 02 Startups

Shark Tank USA Season 15 Episode 02 featured some interesting pitches. The episode aired on Hulu at the time of release. Let’s dive into the exciting pitches from the episode and explore the entrepreneurs' ideas and whether they were able to impress the Sharks enough to secure a deal.

The panel of Sharks for season 15 episode 02 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

Daniel Lubetzky: Founder and executive chairman of snack company Kind LLC., philanthropist and author

Contest No. 1 of Shark Tank Season 15 Episode 02: StormBag

Episode 02 of season 15 of Shark Tank kicked off with the pitch of a father-son duo named Maurice and Miles.

What does StormBag Do?

StormBag-the original SANDLESS sandbag. Their product is a convenient alternative to traditional sandbags as it is easy to deploy the StormBag with no sand and no shovel.  Dry StormBag weighs around one pound and can absorb up to four gallons of water in 3 to 5 minutes and increase its weight to between 30 and 35 pounds upon fully soaking water. It helps in flood protection, water damage mitigation and disaster preparedness. It also soaks spills and contains leaks with ease. These sandless bags are made of absorbent polymers which makes them lightweight and easy to handle. They can also be used in everyday household chores of watering plants and soaking leakages and splashes.

What did Sharks say?

Shark Kevin said that the StormBag was competing against traditional sandbags, which are freely available and he didn’t want to compete against something that costs nothing and opted out for that reason.

On the other hand, Sharks Daymond and Daniel saw the potential in the product and recognised the value it could bring to the market. They offered $200k for a 40% stake in the company.

Shark Lori and Cuban offered $200k for 30% and they suggested that the entrepreneurs can expand the product market by selling the product in different types of packaging at premium prices by targeting various market segments.

Later Shark Daymond and Daniel revised the offer for $200k for 30%.

The duo discussed the deal with each other and accepted the offer and joined hands with Shark Lori and Cuban as they had a vision for their startup.

The duo discussed the deal and ultimately decided to accept the offer of Shark Lori and Cuban. They felt that their vision and business strategy for the Storm Bag could elevate the future growth of their startup.

After their appearance on Shark Tank, Maurice and Miles Huffman ultimately chose to walk away from the deal with Lori Greiner and Mark Cuban.

Contest No. 2 of Shark Tank Season 15 Episode 02: Return Home

What does Return Home do?

Return Home offers a compassionate end-of-life service. The company uses the Natural Organic Reduction (NOR) process to convert human remains into nutrient-rich soil. Afterwards, Families can use this soil to plant a tree or scatter it in a meaningful location to honour their loved one's memory. Any unclaimed soil is donated to local land conservation initiatives.

Return Home is dedicated to providing families with an accessible, inclusive and transparent approach to death care. The company believes not only celebrates the continuity of life but also supports environmental sustainability by giving back to the earth.

What did Sharks say?

Shark Cuban opted out as he wasn’t convenience by the reasoning Micah presented to showcase his business.

Shark Kevin said the start-up is losing money as they don’t have a business plan that can help them make a profit. He also noted that the startup was offering funeral services at prices 30 to 40% below the industry average, which made it unsustainable and opted out for that reason.

Shark Daymond acknowledged the positive impact Return Home was making but he didn’t feel passionate enough about the business to make an investment.

Shark Lori and Daniel said that the valuation of the business is unrealistic and should be reconsidered as their numbers don’t match the proposed valuation of the business.

Contest No. 3 of Shark Tank Season 15 Episode 02: Matador Meggings

What does Matador Meggings do?

Matador Meggings are designed with men’s needs in mind. The company offers high-performance leggings that feature a soft, molded crotch cup for added comfort. Their No-VPL Technology ensures a smooth and discreet fit with every movement. The company makes stylish and functional leggings for men with quality materials for comfort and durability.

What did Sharks say?

Shark Kevin said that the company doesn’t have any strong backup as the founder Valentine is one one-man army. He opted out for that reason.

Shark Cuban said that the company has some tough competition in the market, though Valentine’s meggings has a strong visual appeal but he isn’t focusing on the quality of the pads he is using which is the core selling point of the product. He further added that buyers of the product are athletic men who prioritize both quality and comfort and established companies have already built a strong reputation among them.

Shark Lori said that she was unsure, as she didn’t know if men would use it or not and opted out.

Shark Daymond praised Valentine’s agility and entrepreneurial spirit but felt the business wasn’t a fit for him as an investor and withdrew from the deal.

Shark Daniel said that the entrepreneur doesn’t know his target customers and if he tries to be everything for everyone then he will end up being nothing for anyone. Daniel advised Valentine to first define his consumer base more clearly and opted out. 

Contest No. 4 of Shark Tank Season 15 Episode 02: Toast It Foods

What does Toast It Foods do?

Toast It sells frozen Venezuelan delicacies that can be prepared in just 5 minutes. The company brings ready-to-toast options while maintaining the traditional flavours from Venezuela. Toast It celebrates the incredible richness and diversity of Latin American culture. Toast It sells a variety of delicious products including Arepas in multiple flavours, Pandebono Bites and more.

What did Sharks say?

Shark Kevin was impressed with the taste of the product and offered $100k for 20% stakes.

Shark Cuban said that the sisters are doing a great job and their product tastes fantastic but he wasn’t passionate enough about the business to invest and opted out.

Shark Lori said she liked the taste of the product but felt it wasn’t the right investment for her and decided to pass.

Shark Daniel said he liked the commitment and passion of the sisters towards their business, but he wasn’t impressed with the profit margins.

The sisters tried to persuade by sharing the strategies to cut costs and improve margins.

Daniel offered $100k for 20% stakes to which sisters negotiated for $100k for 15% stakes. So he revised the offer for $150k for 20% and closed the deal successfully.

Conclusion

Shark Tank USA Season 15, Episode 2, was truly exciting. The show continues to showcase startups and entrepreneurs who are making a difference with their innovative products and services. Out of the 4 contestants, 2 secured the deals they had dreamed of, which was thrilling to see. The other 2 may not have closed a deal, but they left with valuable advice that can help them move forward. It’s clear that the Sharks are selective when it comes to investments, as seen in their tough questioning during the pitches. Looking forward to seeing what the next episode brings!

Explore the Shark Tank USA: Season 16 Episode 1.