"You have 15 seconds to answer me" — When Shark Tank's Daymond John started a bidding war with Line Cutterz's founder

Shark Tank season 8 episode 9 was aired on November 18, 2016, showcasing different entrepreneurs seeking investments from the Sharks. Among them was Vance Zahorski, who sought $120,000 for 20% of his company, Line Cutterz, a fishing gear business. He got into a bidding war with Daymond John, the only investor who presented him with an offer, proposing $120,000 for 40% equity.

Daymond refused to negotiate and gave Vance an ultimatum for making him wait with his offer while listening to the other Sharks. The duo went back and forth, while Vance tried to reduce the equity ask.

"I'm not going to counter on it. I need to know that you believe in me and I will believe in you. I'm not here to take advantage of you. You got 15 seconds to answer me," Daymond said.

Even then, Vance countered, first with 28% and again with 30% but in vain. When Daymond refused, Vance stated he could not go any higher. However, his last offer of 33% convinced the Shark Tank investor and the duo finalized the deal.

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"I think it's genius" — Shark Tank panelist Lori Greiner praises Line Cutterz

During the demonstration, Vance revealed he created Line Cutterz to replace the obsolete and unsafe gear fishermen and fishing enthusiasts used. The rings he had designed to cut fishing lines were not only efficient but also safe for the users. While it could easily cut lines designed for catching sharks weighing up to 300 pounds, it could not cut through the user's skin.

He stated that besides the rings, their flagship products included flat mounts and zipper pulls. Each gear was made with stainless steel blades encased in ABS plastic. The tools were sharp enough to cut braided and monofilament lines.

The Shark Tank investors were impressed by the product's practicality and saw potential in its marketability. Vance then mentioned that Line Cutterz had sold products worth $280,000 within one year. He added that the products were priced at $12 while they cost him $1.60 to make. Interested customers could purchase them from the 100 stores he had across the States or from their official website.

The Shark Tank panelists were surprised to learn that Vance had rejected Walmart's offer because they asked him to sell his products for $4.99. Vance's desire to expand into the clothing business was another factor that received criticism from the investors.

Mark Cuban and Robert Herjavec were the first investors to remove themselves from consideration. While Mark feared the business lacked proprietary features, Robert disapproved of Vance's wish to venture into clothing. He advised the entrepreneur to remain focused on fishing gear. Daymond, however, was interested in Vance's business and offered $120,000 for 40% of his company.

Vance made Daymond wait while he listened to Kevin O'Leary's feedback. Daymond urged the entrepreneur to reconsider his decision, implying he could change his offer and increase the equity ask. However, the issue concluded when Kevin backed out, saying he was "not interested" in investing.

With that, Lori was the sole investor remaining to comment. When she spoke, she said:

"I think it's genius. I really like it."

However, she advised Vance to reconsider Walmart's offer, saying it was "scary" to hold onto a high price point because it would allow his competitors to "undercut" him. Lori refused to invest, although she appreciated the product.

After all the Sharks bowed out, Daymond was the only one remaining. After a heated negotiation, he finalized the deal at 33%.

The deal with Daymond successfully closed, bringing in a significant surge in sales within a month after the Shark Tank episode aired. In 2020, Line Cutterz opened a store in West Columbia, Texas, after which they expanded their product range and introduced fishing rods, reels, and more. As of October 2024, the company makes around $2 million annually in revenue.

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Episodes of Shark Tank can be streamed on ABC.com.