"Just doesn't resonate" — When Shark Tank's Lori Greiner refused to invest in BoomBoom

Season 10 episode 4 of Shark Tank saw John and Chelsea Pinto seek $300,000 for a 10% stake in their product, BoomBoom, an all-natural nasal inhaler, designed to enhance breathing and refresh the user. Like the other Sharks, Lori Greiner was impressed with the product's utility and performance. However, she feared it was a one-time purchase. Consequently, Lori refused to make them an offer.

"But $300,000 for 10% for something that I'm concerned is a one-time buy just doesn't resonate. So, I'm out," she said.

One by one, the Sharks backed out of making offers, citing issues with their $3 million valuation and customer reach. Robert Herjavec was the sole investor who presented the Pintos with an offer. However, the founders declined it due to its high equity rate and left the Tank without a deal.

Despite walking away empty-handed, BoomBoom grew quickly after its appearance on Shark Tank. In a post shared on their official Instagram handle on March 14, 2024, John Pinto revealed they sold "a quarter of a million dollars" worth of products within days after their appearance. As of 2024, they have done $20 million in sales and are available in some of "the biggest retailers" in the U.S.

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Shark Tank: Robert Herjavec asks for 36% of BoomBoom

During their Shark Tank presentation, the Pintos explained that BoomBoom was the "best friend" for their noses. Like eye drops, mouthwashes, and lip balms, BoomBoom was a product made out of essential oils, menthols, and other stimulating scents intended for "intense refreshment" and "rejuvenation."

"It's like gum for your nose but ten times more minty fresh," John said.

The Sharks praised the product and its effectiveness after testing out some samples. Although there were two similar products in the market, BoomBoom stood out since it was more "vibrant" than medicinal. When the investors inquired about their sales, John revealed they did $754,000 the past year and were currently on track to do $1.1 million.

John then shared that the inhalers cost 70 cents to produce and were sold at $7.95 on their official website. Although the Sharks were impressed by the price on its official website, they were not too pleased with its wholesale price, which was $1.50.

"That's not a good margin," Kevin O'Leary said.

Kevin believed they were undercutting themselves by selling at a much lower retail price ($3.99). Although intrigued by the product, he refused to make them an offer based on their $3 million valuation and stepped out of consideration. Shark Tank investor Charles Barkley claimed BoomBoom was a "neat thing," but did not know if he would use the product daily. Consequently, he refused to offer a deal.

Mark Cuban followed suit, echoing Kevin's sentiments, saying that their margins were too low, and questioned their decision to venture into retail.

Robert, on the other hand, had a different perspective. While the other Sharks doubted their valuation, he believed he could change that. However, he wanted more than 10% equity. The founders of BoomBoom were left debating their choices when Robert stated he wanted 36% of their business for the $300,000 investment.

The Shark Tank investor refused to accept their 20% counter-offer, leaving them with no choice but to exit the Tank empty-handed.

"It's definitely a bummer not getting a deal with Robert but that's not gonna stop us from really making this happen. We know there's a place for BoomBoom and we look forward to everybody trying it out," John said.

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Shark Tank season 16 airs every Friday at 8 pm ET exclusively on ABC.