The first company seen on Shark Tank season 5 episode 11 was was yours truly, SpiritHoods. Marley Marotta and Alexander Mendeluk did a great job representing the company. We were asking $450,000 for a 15% stake in SpiritHoods. It was especially hilarious to see Kevin O’Leary wearing a multi-colored original SpiritHood. Seriously, it looked like a furry rainbow was perched on his head.
We then tried to get Mark Cuban to wear one that was in the colors of the Dallas Mavericks, but he wasn’t feeling it, haha.
What gave the Sharks pause was the fact that there were a large number of imitators out there and us having non patent protected product. The net result was no Sharks buying in – though Daymond John did make an offer for 50% of the company, but we tried to renegotiate, which offended his sensibilities and he withdrew, which we were ok with.