Andrew Feld went into the tank searching for $150,000 for 10% fairness in Recent Patch. Earlier than showing on “Shark Tank,” Recent Patch had already reached $1 million in gross sales, and Feld hoped that an funding from the Sharks would permit him to open one other distribution middle to decrease delivery prices. Feld defined to the Sharks that every Recent Patch value $5 to supply and $7 to $15 to ship, whereas clients paid solely $25 for every patch.
Kevin O’Leary made Recent Patch its first supply, $150K for 33.3% of the corporate, however Feld was involved that this was an excessive amount of fairness to surrender. Barbara Corcoran jumped in to suggest a deal of $150K for 20%, so long as Feld agreed to deliver his product into retail shops. O’Leary lowered his supply to match Corcoran’s however with out the added contingency. Mark Cuban was and requested Corcoran if he may associate along with her, and the 2 joined in on Corcoran’s authentic supply. Feld took the deal, strolling away with an funding from the 2 Sharks.