Shark Tank season 16: Which products appeared in episode 5? Details explored

Modified Nov 20, 2024 07:02 GMT

Shark Tank season 16 features inventive entrepreneurs seeking life-changing investments. Episode 5, aired on November 15, 2024, showcased products like a kid-friendly cardboard cutter, a creative content camp, an athletic grip enhancer, and a Southern tea brand.

The four distinct companies that were featured in the episode—Chomp Shop, Creator Camp, Chalkless, and Y'all Sweet Tea—all succeeded in landing partnerships.

Barbara Corcoran, Lori Greiner, Mark Cuban, Kevin O'Leary, and guest Shark Rashaun Williams were among the Sharks on the panel for this episode. Here is a thorough examination of the companies highlighted and the agreements they were able to negotiate.

Products and businesses on Shark Tank season 16 episode 5

Chomp Shop

Chomp Shop, founded by Max Liechty and Kausi Raman, is designed to ignite creativity in children using cardboard.

The ChompSaw, a kid-friendly tool that helps children cut and shape cardboard into 3D objects, aims to promote STEM skills and creativity. Max and Kausi pitched the product on Shark Tank, seeking $250,000 for 5% equity. While the Sharks liked the product's educational value, they were put off by the large equity ask. Mark Cuban and Lori Greiner offered $50,000 for 75% ownership, which the entrepreneurs accepted.

Creator Camp

Creator Camp is an edtech initiative that introduces children aged 6–13 to media arts. The summer camp, which was started by Jacky Chao, Kai Forman, and Christopher Cazden Morrison, provides classes in entrepreneurship, animation, filmmaking, game design, and music production.

The goal is to help kids build technical skills and creative confidence through active creation. The creators sought a $350,000 investment for 5% equity to expand their camps and improve accessibility. While most Sharks passed over scalability concerns, Barbara Corcoran saw potential in the idea.

After several rounds of negotiation, she offered $350,000 for 18% equity, a proposal the founders accepted. Barbara envisioned a franchise model to grow Creator Camp, with plans to scale to 250 locations by 2030, projecting $25 million in revenue.

Chalkless

Chalkless Grip Enhancer, created by Greg Pope and James Pidhurney, is a solution designed to enhance grip for athletes and fitness enthusiasts. In addition to offering a reliable grip for demanding tasks like lifting and climbing, the product attempts to lessen the mess and residue that come with conventional chalk.

The creators asked for $400,000 for 4% equity in their Shark Tank proposal. Their $740,000 in revenue and 67% blended profit impressed the Sharks, but there were issues with their unwillingness to provide production expenses.

Despite this, Kevin O’Leary and guest Shark Rashaun Williams saw the product’s potential and offered $400,000 for 4% equity, along with a $2.50 royalty per unit until $4 million was repaid. Afterward, the royalty would drop to 25 cents per unit. Greg and James accepted the deal, recognizing the value of Rashaun’s marketing expertise.

Y’all Sweet Tea

Y’all Sweet Tea, founded by Darien Craig and Brandon Nichols, brought authentic Southern tea flavors to the Shark Tank, including Georgia Peach, caffeinated, and decaffeinated options. Based in Alabama, the company emphasizes customizable sweetness, allowing customers to sweeten their tea to their preference.

Before appearing on Shark Tank, Y’all Sweet Tea had already achieved $4 million in sales with a 20% profit margin. The founders sought $500,000 for 10% equity to further grow the brand.

Lori Greiner and Rashaun Williams made a joint offer of $500,000 for 15% equity after other competitive offers, which Darien and Brandon accepted. The goal of the collaboration is to increase the brand's visibility by utilizing Rashaun's marketing skills and Lori's product knowledge.

ABC broadcasts new Shark Tank episodes every Friday at 8/7c, and Hulu streams them the next day.

Edited by Divya Singh