I predicted Litter Jewelry would not get funded on last night’s Shark Tank. That was Monday’s prediction. On Tuesday, I learned from a reliable source their website was to be re-launched Thursday night in anticipation of the show and the web traffic that would ensue. That information made me change my mind, but I opted not to do a “spoiler” type prediction.
Last week, I made a spoiler prediction for the Heat Helper. During the week, I had reservations about making that prediction because it could have caused some contractual problems for the entrepreneur. Here at the Shark Tank blog, we are squarely on the side of the entrepreneurs and, even though we like to predict who will win and we have the resources to get spoiler info, we don’t want to jeopardize any deals that get made.
Reality TV shows, like the Shark Tank, demand a certain amount of secrecy. It’s in the contract that the entrepreneurs NOT reveal the outcome until after the show. I am not sure if there are any penalties for the entrepreneurs if they reveal information, but my guess is there are. It must be very hard to keep things under wraps for six or seven months after the show is taped!
Rachel and Mackenzie, the Litter Jewelry designers, will take some heat for the deal they struck. Barbara Corcoran said they were “like lambs led to slaughter” last night. They gave up 70% of their business to Mark Cuban and Daymond John for $80,000. It was what Daymond called “a designer deal.” The ladies will focus on their creations while Mark and Daymond handle the business end. In addition to the 30% of their company they will share, Daymond said they would also receive a salary- how much of a salary is anyone’s guess. They seemed happy after the show, so at least they felt they got a good deal. 30% of something is better than 100% of nothing. I am sure they will have much success.
In the following video, Daymond John is impressed with the Litter Jewelry’s designs.
When one of your investors was proposing to the sisters that was selling the litter jewelery collection it really upset me alot! I think it was very selfish of him to have made that offer and go on to say he would employee people in China instead of right here in the good ol USA without even trying to make it here in the USA. No research, no nothing,Just move it to China! What a slap in the Americans faces.I guess that he didn’t get the memo that there are millions of Americans without jobs.
That’s why I am glad Kevin didn’t make the deal! He’s an SOB about manufacturing in China!
These two women were stupid. Should have listen to Barbara. She would have come in better and even Kevin was trying to give them what they wanted.
Agreed. These ladies got eaten by the sharks. Incredibly disappointed in how they represented women entrepreneurs; so stereotypical. It’s a shame it was viewed by so many. Set us back. Do your homework ladies and go into business interactions prepared and professional. Bambi act is not cool in the boardroom. Not cool for your wallet anyway.
I admire the creativity of these two wonderful individuals and wish them the best.