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Don’t Get Stuff Stuck In Your Nose

Shark Tank Entrepreneur Joe Moore developed a product called First Defense Nasal Screens which keeps germs and allergens from getting in your nose. Anywhere Allergies affect people, a simple screen over your nostril protects foreign objects from getting into your nose.

At first look the Shark Tank Investors thought that Joe Moore was kidding but when they realized the potential business First Defense Nasal Screens would generate plus the 8 million dollar contract from the United Arab Emirates, caused the Shark Tank Investors to wake up and pay attention.

Kevin O’Leary initially offered him a million dollars for his whole company but Joe Moore declined. That set all the investors on Shark Tank into a bidding frenzy and with Robert Herjavec steps up and offers him 4 million dollars, Joe counters with 5 million dollars and Robert Herjavec says he’s out.

Ultimately the deal is done with Kevin O’Leary, Mark Cuban and Daymond John for $750,000 plus a 30% stake and a 10% perpetual royalty.

Shark Tank Investors know that this opportunity was something that they needed to jump on because they can see this product going crazy in the Middle East.

Should Joe Moore have taken the four million dollar deal from Shark Tank Investor Robert Herjavec? Maybe, but he was passionate about the company and his potential upside offers him chance to make more. Most importantly, Joe Moore  wanted to say with First Defense Nasal Screens and with the deal he made, he got what he wants most.

Shark Tank is a great show, it shows deals go down very accurately, in fact, I’ve had some pretty savvy investors make decisions as fast as they do on the show. You can watch prior episodes online, which makes a great education for people that are looking to raise capital.

This episode aired a while back, and it appears that the company is marketing the product online through the website. I would be interested to know if the Shark Tank deal completed or if a better deal came Joe Moore’s way. If you have any additional information about First Defense Nasal Screens, feel free to leave it in a comment here.

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