"Absolutely no sense" - When Barbara criticized Kid's Luv' entrepreneur in Shark Tank

Barbara Corcoran Visits FOX Business
Shark Tank investor Barbara Corcoran (Image via Getty)

In Shark Tank season 11 episode 15, KidsLuv founder Ashi Jelinek sought $200,000 for 8% equity in her sugar-free vitamin drink company. The pitch revealed her spending of $200,000 in personal funds plus $1 million from friends and family through a convertible note at a $3.5 million valuation.

Jelinek disclosed spending $150,000 on legal protections, $57,000 on manufacturing, with only $50,000 remaining in the bank and $50,000 in total sales since February 2018. Hearing this, Sharks voiced concerns about investor money mismanagement. When Jelinek stated that she accepts her mistakes and will improve, Barbara Corcoran delivered a sharp critique:

"You're not owning your own mistakes really. The investors that gave you their money are really owning your mistakes and then you come here and you're asking us to follow your other investors down that little yellow path. It makes absolutely no sense. It's amazing to me that you don't see what's wrong with that picture. For all of those reasons, I'm out."

All five Shark Tank investors rejected KidsLuv. The company later reached $5 million in annual sales and 2000 retail locations before closing in 2022.


KidsLuv founder's financial choices led to rejection on Shark Tank

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The KidsLuv Shark Tank presentation exposed detailed spending patterns that created immediate concern. The financial structure included a $1 million investment from friends and family, structured as a convertible note with a $3.5 million valuation cap. Company records showed significant expenditures in several areas.

The largest allocation went to legal protection, consuming $150,000 for securing formula rights across domestic and international markets. Manufacturing costs took another $57,000 chunk of the capital.

The revenue picture showed $50,000 in sales across 16 months of market presence. This amount came from 21 stores in southern California and four locations in San Francisco, plus online sales through Amazon. The company priced its 16-pack at $37.99, making each serving cost $2.40. The remaining bank balance of $50,000 marked a substantial reduction from the initial funding pool.

Mark Cuban examined the sales and declined the deal based on insufficient product testing and market validation data. Kevin O’Leary stepped away from the deal citing limited sales numbers against the proposed valuation. Following the suit, Barbara also exited with the statement about investor money mismanagement.

Shark Tank investor Robert Herjavec (Image via Getty)
Shark Tank investor Robert Herjavec (Image via Getty)

When it came to Robert, he also cited investor money mismanagement and exited by saying:

“It makes me nervous about giving you more money.”

Lori Greiner, as the final Shark to respond, referenced her entrepreneurial background with similar spending patterns. She marked the fifth rejection, completing the unanimous panel decision against investment in KidsLuv.


Post-Tank performance

As per Shark Tank Blog, the aftermath of the Shark Tank rejection showed unexpected market success for KidsLuv. The company secured placement in major retail chains. Walmart added the product line to its shelves. Target followed with nationwide distribution. The retail footprint expanded to over 2000 stores across the United States.

Sales growth matched the retail expansion. Annual revenue reached $5 million at its peak. Online sales through Amazon and other platforms supplemented retail presence. KidsLuv maintained its original pricing strategy throughout this growth phase.

Despite strong revenue performance and retail presence, business operations ceased in 2022. The shutdown came after reaching $5 million in annual sales. The closure followed successful retail partnerships and product line expansion.

During this span, Shark Tank company achieved a substantial market presence. The company expanded from 25 initial stores to over 2000 locations. Distribution agreements included major national retailers. The product line grew from two flavors to four options. While the company's website is still live, it no longer has any presence on any social media channels.


New episodes of Shark Tank are airing on ABC network.

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Edited by Niharika Dabral
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