![]() ![]() ![]() This deal required a royalty of $2 per straw until he recoups $1.8 million. The first offer, from Kevin O'Leary, is an investment of $625,000 for a 10 percent stake. Kevin O'Leary and Mark Cuban see opportunity but the founders' flubbed negotiations tank those deals, leading to some of the episode's most tense moments. I like a product to be in-hand and know that it's really working." "You haven't sold them and gotten them into people's hands yet. "There's really dozens and dozens of straws out there to do what yours is doing," she says. The Kickstarter campaign will not fulfill until November and Daymond John, for instance, struggled to believe people would pay $20 for a straw. Several sharks weren't sure the founders truly had a market yet. These numbers, while impressive, did not persuade the sharks to give the founders what they came for: a $625,000 investment in exchange for a five percent company stake. ![]() As of this writing, FinalStraw's Kickstarter campaign page touts 38,443 backers and pledges of $1,894,878. At times during the campaign, the company has drawn $15,000 a day in pre-sales on its website, according to Cohen. The company made headlines this spring when it smashed its Kickstarter goal of $12,500, reaching $550,000 in seven days. To illustrate their point, the founders had 5,700 plastic straws rain down from the "Shark Tank" ceiling to represent the number of straws used every second in the United States.įinalStraw launched in April on Kickstarter. ![]()
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