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Shark Tank season 16 released its eighth episode on January 18, 2025, on ABC. In the latest episode, four new businesses were featured, namely Bro Glo, TripleLite, Hiccup, and PhoLicious.
Bro Glo presented a self-tanning product for men and TripleLite introduced an improved flashlight. Meanwhile, Hiccup offered a reusable cup service for marathon runners, and PhoLicious showcased an instant pho noodle soup.
For the unversed, Shark Tank first premiered in the US on August 9, 2009. Connecting entrepreneurs with investors, known as sharks, the show was based on a British show called Dragon's Den. As the concept became popular, it led to spin-offs in many countries.
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The main sharks on the show include Kevin O'Leary, Lori Greiner, Mark Cuban, and Daymond John. In the recent episode, Daniel Lubetzky, the founder of Kind LLC, joined as a guest shark.
What happened in Shark Tank season 16 episode 8?
The latest episode of Shark Tank kicked off with Bro Glo founders Jaron, Tom, and Joe, who introduced their product in the tank. They revealed that they were seeking $200,000 for 5% interest for their water-based formula which didn't feel sticky or greasy. Although all the sharks loved the product, including Robert Herjavec, they were worried about the valuation of the company.
The self-tanner founders mentioned that they launched in 2021, and garnered $107,000 in the first year, $482,000 in the second year, and $3.1 million in the previous year. Lori offered $100,000 cash and $100,000 as a loan for a 10% stake plus 50 cent royalty until $200,000 is paid. Mark chimed in with $200,000 for a 10% stake and the founders accepted the deal despite Daniel offering the same at 8%
"I'm just overrun with emotion. We worked nights and weekends, and Tommy's working. It was very, very difficult. There was a lot of sacrifices," Jaron said after their pitch.
Second to enter the Shark Tank set were TripleLite co-owners, Ronnie and Nancy Pritchett. Based in San Diego, California, they sought $400,000 for 10% equity. They explained that the TripleLite 180º patented flashlight consisted of 3 LED lights that helped the user see what's in the front, on the left, and on the right.
Nancy revealed that she was the one who had to take charge of the idea business-wise as Ronnie had another job as a golf professional. They impressed the sharks with their $5 million lifetime sales.
The TripleLite founders shared that in 2015, they found an investor for mentorship. Things took a turn, as in 2018, the investor sued the founders for the control of the company. Eventually, they accepted an offer made by Mark and Lori of $400,000 for a 25% stake.
The owner of Hiccup, Kristina, was next to pitch to the sharks. She presented a reusable cup service with a mission to eliminate single-use cup waste. She asked for $200,000 in exchange for 10% of the company.
"I came up with the idea when I ran a marathon in California, and when I flew home, I drank coffee and water every time the beverage cart came through," Hiccup founder Kristina shared.
By the end of her pitch, none of the sharks were interested in investing in the company with Kevin even remarking that the idea was "horrible". This led to the last entrepreneurs to pitch on the Shark Tank set. PhoLicious co-owners, Joseph and Anh, were seeking $500,000 in exchange for 10% of the company. PhoLicious products included instant pho, a traditional Vietnamese rice noodle soup.
All the sharks enjoyed the food and Joseph revealed that in the first year, they made $68,000. The next year, they earned $438,000 and then in the previous year, they made $2.1 million. They also projected around $5-6 million in sales for this year. The product was available in over 133 Sam's Clubs and 250 Walmarts.
The sharks were also impressed by their story as they revealed they sold their house to get the business going. Ultimately, Mr. Wonderful Kevin O'Leary was able to sway a deal with the founders when he offered $500,000 for a 15% stake in the company.
New Shark Tank episodes get released on ABC on Fridays at 8 pm ET.
