Tonight on Shark Tank Australia, memorable entrances led to shock exits, with one entrepreneur facing the wrath of the Sharks. So, who survived the Shark Tank?
Madi Stefanis from Melbourne was hoping to grab the Sharks attention with a modern spin on an old classic. The 23-year-old is the founder of reusable film camera company, 35MM CO.With the camera already being sold on Australian online retailers, she was hoping to break into the US market, seeking $300,000 for 10% equity. Impressed with Madi’s sales to date, and knowing they can bring their international experience to the table, Sharks Robert and Jane settled for a shared $300,000 for 17.5% equity.
Next up, was budding entrepreneur Nevada Smith from Queensland, who was hoping to gain more than just money from the Tank. Seeking $28,000 for 40% equity for his patented interconnecting earphone business, Nevabuds. With Robert, Davie, Sabri and Jane not seeing the business as commercially viable, backed with a lack of sales, they were out. It was all down to A.I guru Catriona, who parted with $28,000 of her own money for a 49% stake in the business.
American imports, Regan and Nathan were next to dive into the Tank. The husband and wife team are hoping to transform beach trips for families everywhere, with the Burleigh Wagon. With an inbuilt esky, Bluetooth speaker, USB charging ports, and seats and seatbelts for children to ride on, they were seeking a whopping $450,000 investment for 10% equity of the business. Unfortunately impressive sales margins, weren’t enough to hook Sabri, Catriona, Jane and Robert. After some counter-offering, Davie jumped on the bandwagon, securing 25% equity for $450,000, plus a $10 royalty until the money is paid back.
Unfortunately, missing out on an investment after some sharky counter-offering, was Vanable, one of Australia’s leading custom van conversion companies.
