Shark Tank season 12 episode 1 Recap and FAQ

Episode Summary

TouchUp Cup, a paint storage solution by Carson and Jason Grill, impresses the Sharks with its unique design, securing a deal with Blake Mycoskie. Blake shares his journey from laundry service to Toms Shoes, emphasizing the power of storytelling in business. SparkCharge presents the Roadie, a modular EV charger, and snags a deal with Mark Cuban and Lori Greiner. GarmaGuard, a fabric cleanser by Pete and Bianca Badaway, fails to secure a deal due to its early stage and lack of EPA registration for COVID claims. Wylie's Rumpl, offering outdoor blankets, leaves without a deal, facing valuation and equity challenges.

Full Episode S12E01 Recap

### "Shark Tank" Season Premiere: Innovations and Determination - **Introduction** - Narrator highlights "Shark Tank" as a platform supporting innovators and small businesses. - Special collaboration with the Venetian Resort in Las Vegas for a COVID-safe environment. - **Impact of COVID-19** - Pandemic's impact on Americans and small businesses. - Entrepreneurs' stories of struggle and adaptation during COVID-19. - **Blake Mycoskie Joins the Tank** - Introduction of Blake Mycoskie, founder of Toms Shoes, as a guest Shark. - Mycoskie's focus on storytelling and perseverance in business. - **First Pitch: TouchUp Cup** - Presenters: Carson and Jason Grill from Cincinnati, Ohio. - Seeking $150,000 for 10% equity in TouchUp Cup, a paint storage solution. - Features: stainless-steel blending sphere, airtight seal, can keep paint fresh for over 10 years. - Current Sales: In 4,000 locations, $220,000 in sales over two years. - Offers: - Blake Mycoskie offers $200,000 for 25%. - Daymond John offers $200,000 for 17.5%. - Deal: Carson and Jason accept Blake's offer. - **Blake Mycoskie's Story** - Career journey from a laundry service to founding Toms Shoes. - Inspiration from a trip to Argentina and witnessing children without shoes. - Toms Shoes' one-for-one model and global impact. - Post-Toms ventures and focus on well-being. - **Second Pitch: SparkCharge** - Presenters: Chris and Josh, co-founders of SparkCharge. - Seeking $1 million for 6% stake in portable, modular EV charger, the Roadie. - Features: Charges at a rate of one mile every 60 seconds. - Sales and Funding: Over half a million in sales, $5 million raised in total. - Offers: - Mark Cuban and Lori Greiner offer $1 million for a 12% stake (6% each). - Deal: Chris and Josh accept the offer. - **Third Pitch: GarmaGuard** - Presenters: Pete and Bianca Badaway. - Seeking $100,000 for 10% in GarmaGuard, a garment and fabric cleanser. - Product: Eliminates odor and bacteria, not yet EPA-registered for COVID claims. - Sales: $476,000 in total sales. - Outcome: No deal, Sharks advise them to focus on EPA registration. - **Fourth Pitch: Rumpl** - Presenter: Wylie, founder of Rumpl, outdoor blankets. - Seeking $600,000 for 4% stake. - Product: Made with new-age materials, includes 60 recycled bottles. - Sales: $8 million projected, with a dip in previous year. - Funding: Raised $4.8 million, with $3.5 million in the bank. - Outcome: No deal, valuation and equity issues.

Frequently Asked Questions

What is TouchUp Cup?

A paint storage solution designed to keep paint fresh for over 10 years with a stainless-steel blending sphere and airtight seal.

Who is Blake Mycoskie?

The founder of Toms Shoes, known for its one-for-one business model, and a guest Shark on "Shark Tank."

How did COVID-19 impact "Shark Tank"?

The show collaborated with the Venetian Resort in Las Vegas to create a COVID-safe environment and highlighted the pandemic's impact on businesses.

What are the key features of the Roadie by SparkCharge?

It is a portable, modular EV charger that charges at a rate of one mile every 60 seconds.

What is GarmaGuard?

A natural garment and fabric cleanser that eliminates odor and bacteria, currently not EPA-registered for COVID claims.

What are Rumpl blankets made of?

Durable, weatherproof, lightweight materials, each blanket using 60 recycled plastic bottles.

How much equity did Carson and Jason Grill offer for TouchUp Cup?

They initially offered 10% equity.

What was SparkCharge's funding before "Shark Tank"?

They raised about $5 million in total, with $3 million from investors and $2 million from awards.

What was the sales performance of GarmaGuard before "Shark Tank"?

They made $476,000 in total sales.

What was Rumpl's projected sales for the current year?

They projected $8 million in sales.

How did Blake Mycoskie start his entrepreneurial journey?

He started with a pickup-and-delivery laundry service, which led to founding Toms Shoes.

What is the significance of Toms Shoes' business model?

Toms Shoes has a one-for-one model, donating a pair of shoes for every pair sold.

How did COVID-19 affect entrepreneurs on "Shark Tank"?

Many entrepreneurs shared stories of adapting and struggling during the pandemic.

What was the purpose of the GarmaGuard product?

To provide a way to clean and sanitize clothes on the go, targeting bacteria and odors.

Why did Wylie from Rumpl appear on "Shark Tank"?

He sought investment and partnership to expand into sports licensing and grow his outdoor blanket company.

Shark Tank season 12 episode 1

Rumpl Blankets, Touch Up Cup, GarmaGuard, SparkCharge