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Episode 3 of Shark Tank season 14, which aired on Friday, October 7, featured aspiring entrepreneurs from four respective companies.
They presented their business pitches to a panel of sharks, including Lori Greiner, Daymond John, Mark Cuban, Kevin O’Leary, and guest shark Kendra Scott. The sharks made deals with two companies — Stakt and Create A Castle. The remaining two, Mama O's Premium Kimchi and Halloween Moments, didn’t get any offers from the investors on the show.
Shark Tank season 14 episode 3 also featured a business update from Season 13. Shark Lori Greiner invested in co-founders Emily Castro and Melissa Harrington’s seafood delivery service, Fish Fixe, in the thirteenth season. The entrepreneurs appeared in the latest episode to give an update about their business, which they stated has done $8,20,000 in sales since they got a deal on the show.
Who got deals in episode 3?
In Shark Tank season 14 episode 3, Stakt and Create A Castle entrepreneurs were the lucky ones to get deals from the sharks.
Stakt
From Stakt, co-founders Taylor Borenstein and Millie Blumka appeared in the tank. They came with an offer of $1,00,000 for 10% equity in their company. Their company creates foldable yoga mats, which can also be used as a tool for multiple workouts.
It is thicker than regular mats to provide extra support and is made of non-toxic, premium material. In the new episode of Shark Tank, the entrepreneurs mentioned that they have been best friends for over 10 years and are also roommates who are fitness enthusiasts. They started building the idea of starting a company together during COVID-19. In six and a half months, they had $1,00,000 sales.
Stakt is a part-time for the founders as Millie works in sales marketing and Taylor in financial services. They said that the salary they receive from their respective full-time jobs goes into building their business. The pair wanted to expand their company and go full-time, which is why they came on the show looking for an investor.
All the sharks refused to invest in their company, except for Lori Greiner. She felt that the entrepreneurs had the potential and thus, decided to give them a chance. Lori and Stakt founders made a deal of $1,00,000 for 15% stake, plus “$75 cent royalty per unit sold until $100K is paid.”
Create A Castle
Married couple Kevin and Laurie Lane appeared on Shark Tank to convince sharks to make an investment in their company, Create A Castle. As the name suggests, the company creates tools that help create sand or snow castles easily.
The founders came in the tank with a deal of $3,50,000 for 10% equity. They mentioned that they had 12 patents worldwide and had made $6,00,000 in sales last year. The duo mentioned that they didn’t have much profit yet as they faced inventory issues previously due to lockdown.
The sharks liked the concept of their business, but not all were interested in investing in the company. Kevin called it “not profitable,” while Lori and Mark backed out stating similar reasons. Guest shark Kendra was impressed with the product from the start and thus, offered to make a deal of $3,50,000 for 20% stake. Daymond, too, offered $3,50,000 for 25% stake. After much thought and discussion, founders Kevin and Laurie decided to go with Kendra’s deal.
More details on Shark Tank season 14 episode 3
In episode 3 of Shark Tank season 14, four business pitches were featured. While Stakt and Create A Castle got deals, Mama O's Premium Kimchi and Halloween Moments had to go home empty-handed.
The official synopsis of the latest episode reads:
“Founder, executive chairwoman and chief creative officer Kendra Scott, LLC, returns to the Tank! First into the Tank is an entrepreneur from Fairview, Texas, who pitches a solution to carving pumpkins with his unique tool designed to get rid of the slimy mess. Entrepreneurs from New York City introduce their foldable 2-in-1 fitness product which unlocks a new level of versatility in your exercise regimen; while entrepreneurs from Glendale, New York, bring some spice to the Tank with their take on a traditional Korean dish.”
It continued:
“A husband and wife from New Milford, Connecticut, guarantee to ignite imaginations with their sculpting playset designed to bring children year-round fun. In a ‘Shark Tank’ update, Melissa Harrington and Emily Castro from Sugarland, Texas, and their investor Lori Greiner update us on Fish Fixe, their simple seafood delivery service. The Sharks in this episode are Mark Cuban, Daymond John, Kevin O’Leary, Lori Greiner and guest Shark Kendra Scott.”
Meanwhile, viewers can catch up on the latest episode on ABC’s site or Hulu. They can also check local listings for reruns.
Shark Tank season 14 airs new episodes every Friday at 8:00 PM ET on ABC.
