Shark Investors Hearing the Pitches On Shark Tank Season 16 Episode 5
Shark Tank Season 16 Episode 5 brought about the perfect boost to its growth rate with fresh faces on the investors’ panel. From Barbara Corcoran appearing for the first time this season to Rashaun Williams returning after the pilot episode, new entrepreneurial perspectives were added.
Another key highlight of the day, which was not seen in the previous four episodes, was that all four entrepreneurs bagged deals from the Shark investors. The product range was wide, from creative craft tools for kids to sports-based products for athletes, insightful edtech programs for children, and delectable sweet tea for tea lovers.
Each of the pitches in the fifth episode, as seen on November 15, kept the viewers of Shark Tank glued to their TV screens with last-minute deals. Some earned praise for their enthusiastic presentation style. However, a few saw the furious side of the panelists due to the entrepreneurs’ reluctance to answer certain questions.
The update segment of Shark Tank Season 16 Episode 5 was Buttercloth, which appeared in the tenth season.
Shark Tank Season 16 Episode 5 Pitches
The latest Shark Tank episode is an ideal example of how the simplest products, like cardboard cutters and tea, can bag deals if entrepreneurs can convince the judges based on their previous background and sales.
The other two pitches showed how a seemingly falling deal could turn around if, after all the intense Q&A and thrilling offers and counteroffers, entrepreneurs agree to reach a mutual conclusion with the Sharks.
ChompShop
Kausi Raman and Max Leichty, an entrepreneur duo from Philadelphia, presented ChompShop in Shark Tank Season 16 Episode 5. Their product was a creative cardboard cutter for kids offered through ‘ChompSaw.’ The ChompShop cardboard cutter helps in cutting cardboard and building 3D models with ease.
Coming up with the first pitch of the day, the entrepreneurs sought $250K for 5% equity in their company.
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Chalkless
Greg Pope and James Pidhurney appeared on Shark Tank with a grip enhancer, Chalkless. It is used to absorb oil on the skin and shoes for athletes, the military, and even for daily uses. The entrepreneurs explained that the Chalkless grip enhancer is a powder-like compound that is non-toxic and works even underwater.
The entrepreneur duo approached the judges on Shark Tank, seeking $400K for 4% equity.
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Creator Camp
Entrepreneurs Cazden Morrison, Kai Forman, and Jacky Chao came on Shark Tank Season 16 with Creator Camp. Offering a solution for kids with excessive screen time, this edtech summer program teaches kids content creation, filmmaking, animation, music production, and game design using their tablets.
The entrepreneur trio came up with this third pitch, seeking an investment of $350K for 5% equity in their company.
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Y’all Sweet Tea
The most interesting and final pitch in the fifth episode was Y’all Sweet Tea brought by Darien Craig and Brandon Echols. They brought along ‘Mama Sue,’ a social media star, to describe their many Y’all tea flavors and their amazing taste. The entrepreneurs tried to capture the Sharks’ attention through their whopping sales figures.
The duo made their way to the panelists seeking $500K for 5% equity in their company.
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Entrepreneurs Featured In Shark Tank Season 16 Episode 5
The fifth episode saw four entrepreneur duos bring up the most enthusiastic pitches of the sixteenth season. It was for the first time that all the entrepreneurs managed to bag deals after intense discussions over sales and future projections. They brought about their best negotiation skills to secure offers.
1. Kausi Raman and Max Leichty
Business Name: ChompShop
Product:
- The business offers useful and safe cardboard cutters for kids through its Chomp Saw section.
- This creative cardboard cutting tool product allows kids to prepare anything, including a sword, a fish, and a castle.
- Through this product, ChompShop emerges as an ideal pick for parents looking to improve the STEM concepts of their young ones.
Deal Status: The ChompShop Shark Tank journey ended with the entrepreneurs cutting a deal with Mark Cuban and Lori Greiner. While Kausi Raman and Max Leichty received three offers, they decided to choose Mark and Lori for their offer of $250K for 15% equity.
Net Worth: The latest update about the ChompShop net worth is that based on a 10% growth rate, its current value is around $3.96 million.
2. Greg Pope and James Pidhurney
Business Name: Chalkless
Product:
- As the name suggests, the Chalkless grip enhancer improves the grip of athletes and military persons by removing excess oil from hands and shoes.
- Its powder-like formula is toxin-free and environmentally friendly.
- The entrepreneur duo claims that the product can be used underwater as well.
Deal Status: Although initially it appeared that Greg and James would have to walk out empty-handed, the Chalkless Shark Tank journey culminated with a deal. The duo received Kevin O’Leary’s only offer, a royalty deal. Rashaun Williams, too, joined him later on, and the two Sharks then sealed the deal.
Net Worth: With an estimated yearly growth rate of 10%, Chalkless’ current net worth is calculated to be a whopping $16.1 million.
3. Cazden Morrison, Kai Forman, and Jacky Chao
Business Name: Creator Camp
Product:
- This edtech summer program helps kids gain a broad range of skills through activities in content creation, filmmaking, animation, music production, and game design using their gadgets.
- According to the entrepreneurs, Creator Camp is driven towards promoting creativity and collaboration among kids through the enhancement of technical skills.
- Started in 2020, Creator Camp’s team is focused on reducing the screen time of children aged between 8 to 12.
Deal Status: The entrepreneur trio received their only offer from Barbara Corcoran on the condition that they turn Creator Camp into a franchise. After a lot of discussions and negotiations, the Creator Camp Shark Tank pitch ended with a deal.
Net Worth: The net worth of Creator Camp is currently estimated to be $3.1 million.
4. Darien Craig and Brandon Echols
Business Name: Y’all Sweet Tea
Product:
- The Alabama-based entrepreneur duo presented a range of sweet and ‘unsweet’ tea through Y’all Sweet Tea.
- As listed by ‘Mama Sue,’ some of their top flavors include mango, strawberry, raspberry, watermelon, and Georgia peach flavored tea.
- Starting in 2021, its many tea flavors can be found in retail on the Y’all Sweet Tea website.
Deal Status: The Y’all Sweet Tea Shark Tank pitch reflected a classic bidding war, with Lori Greiner and Kevin O’Leary fighting for a joint deal with Rashaun Williams. After several rounds of offers and negotiations, Darien and Brandon decided to proceed with Rashaun and Lori’s deal of $500K at 15% equity.
Net Worth: According to the Y’all Sweet Tea founders, the company’s net worth is about $5 million as of 2024.
Shark Tank Season 16 Episode 5: Buttercloth Update
The update segment on the fifth episode of season 16 saw a lookback into Buttercloth, a business that appeared in Shark Tank’s tenth season. Through it, Danh Tran had bagged a deal from Robert Herjavec for his ‘comfortable’ apparel company. After six years of the Buttercloth Shark Tank journey, the company’s sales skyrocketed to $58 million.
In the segment, Danh revealed that Buttercloth is now available in brick-and-mortar stores across the nation. He also mentioned his invention, ‘Icy Cotton,’ which propelled the company’s growth in the competitive market. Plus, Buttercloth shirts are now available for women as well.
Towards the end of the segment, Robert shared his admiration for Danh and his unwavering commitment as a ‘classic immigrant entrepreneur.’ Additionally, Danh shared his piece of advice for the budding entrepreneurs.
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Shark Tank Season 16 Episode 5: Rashaun Williams and Barbara Corcoran
Previously seen in the pilot episode of Season 16, the Rashaun Williams Shark Tank stint witnessed a comeback in the fifth episode. The episode began with a brief introduction of Rashaun, the venture capitalist who made two investments on the launch date of season 16.
As seen earlier, he brought forth a calm demeanor and invested only when he related to the vision of the entrepreneur. Rashaun was also open to joint deals with fellow Sharks and locked two offers with Lori Greiner and Kevin O’Leary.
Apart from these, Rashaun did not shy away from expressing his honest opinions. This was particularly evident in the ChompShop pitch, where he openly said that he ‘hates’ SAFE Agreement.
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Other than Rashaun Williams, Barbara Corcoran made her first appearance in the sixteenth season through the fifth episode. As in her previous Shark Tank seasons, Barbara prioritized quality over quantity. She locked just one deal but demonstrated her expertise as a Shark by convincing the entrepreneurs to pursue a franchise model.
Apart from this, Barbara expressed her admiration for entrepreneurs who demonstrated passion for their business, as seen in the ChompShop pitch.
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