Shark Tank season 16 episode 4 recap- Lori and Kevin clash over a deal while Robert Herjavec shows up as guest shark

Shark Tank season 16 released episode 4 on November 8, 2024 on ABC. The reality show features investors, known as sharks, who help entrepreneurs seeking funding to reach the next step in their entrepreneurial journey.

Shark Tank was first launched in America on August 9, 2009, as a remake of a British show, Dragon's Den. As the show's concept became famous, it has seen successful spin-offs in different countries worldwide.

The sharks of the season are Kevin O'Leary, Lori Greiner, Mark Cuban, and Daymond John. In episode 4, FYSH Foods, Terrashroom, NineteenTwenty, and Moonies pitched in front of sharks. Croatian-Canadian businessman Robert Herjavec was the guest shark in this episode. Kevin O'Leary shut down Lori Greiner as the latter tried to look out for the Terrashroom founder by advising the latter not to take up a deal by giving up a large percentage of the firm.

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What happened in Shark Tank season 16 episode 4?

Season 16 episode 4 of Shark Tank featured two entrepreneurs, Zoya Biglary and Alix Traeger, who sought $150,000 for 10% of FYSH Foods, their vegetarian sushi business. Despite generating $50,000 in sales, the Sharks were unimpressed. Kevin O'Leary and Robert Herjavec declined to invest, citing concerns about the frozen food industry.

Mark Cuban expressed concerns about scaling the business, given the challenges in the frozen food sector. However, Daniel Lubetzky saw potential in FYSH Foods' innovative products and offered $150,000 for 40% of the company. After negotiations, they settled on 30%.

The second pitch in Shark Tank came from McKay and Karisa Winkel, presenting Moonies Swimwear, their innovative men's swimwear line featuring a large hole in the back. Seeking $150,000 for 35% of their company, they revealed $1,000 in lifetime sales. The sharks were skeptical, questioning the viability of the business.

Mark Cuban acknowledged a potential market for Moonies but declined to invest, citing a lack of understanding. Daniel Lubetzky felt the company wasn't progressing, and Robert Herjavec found it entertaining but declined. Kevin O'Leary compared Moonies to Rounderbum and offered $150,000 for 100% of the company.

Lori Greiner appreciated Kevin's offer but believed the Winkels felt they deserved more. The couple countered with a royalty request and a $500,000 patent sale, which Kevin rejected. They left the Tank, seemingly frustrated with Kevin's "greedy" approach.

Third to go was Jared Steele, founder of Terrashroom, who revolutionized home mushroom cultivation with a computer-controlled grow chamber. This innovative product requires minimal effort, yielding a harvest in just one week.

Jared sought $175,000 for 2.5% of Terrashroom on Shark Tank, valuing the company at $7 million. Despite 6,500 pre-orders and $780,000 in pre-sales, Terrashroom has not delivered any products since its inception in 2022.

The company's production timeline included 130 units arriving on November 13, 2024, and 1,040 units arriving on December 15, 2024. Each grow chamber was priced at $499 ($399 with launch discount) and included a free mushroom cake. An additional HEPA Filter Pack is available for $24.99.

Mark Cuban and Robert Herjavec declined to invest, citing unpreparedness and distrust. Lori Greiner appreciated the concept but felt the product was over-engineered. Kevin O'Leary offered $175,000 for 15% of Terrashroom, sparking a debate with Lori.

Lori believed Jared should not be releasing any product to the market as it is not completely ready. The latter refused to surrender more than 5% equity, citing prior funding at a higher valuation. As negotiations stalled, Jared left the Tank empty-handed.

The last ones to pitch were Ashley and Zach Sankar, founders of NineteenTwenty. They presented their convertible apparel brand on Shark Tank. They sought $250,000 for 10% equity, showcasing versatile clothing with strong sales potential. Lifetime sales of the company had reached $505,000, with a profit of $97,000.

However, Mark Cuban questioned their financial understanding, citing inconsistencies. Kevin O'Leary offered $250,000 for 30% equity, contingent on full-time commitment. Robert Herjavec proposed $250,000 for 25%, which the couple accepted after an emotional appeal where the owners disclosed the sudden loss of their mother.

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Watch the next episode of Shark Tank on November 8, 2024 on ABC.