Barbara Lampugnale got what she came for. The mother of six daughters and the creator of NailPak went into the Tank seeking an investment of $50,000 for 20% of her company. It was clear from the start that this is solely a women's product, and it therefore made a lot of sense for a woman to invest in it. Now I personally think that if Barbara Corcoran were there that segment, she would have made an offer, but Lori Greiner was there, and she did just that. She offered the $50,000 for a 51% stake in the company, which would mean she would have control. Although that's not necessarily a bad thing to give up, if you are capable and qualified of being in control yourself, there is no reason to give it up. Lori knew that she really wanted the product and that it can be a huge success on QVC, but she was wrong for trying to rob you of the majority of your company.
Kevin O'Leary played it smart. He waited to see if Lori was interested in it, and only then did he decide to make an offer, which was better than hers. He offered the same amount of money for only 40% of your company, which in my books is the perfect offer. Now in these types of situations, there is a very difficult decision that has to be made. On one hand, giving up 10% less of your company seems much more appealing and the better offer. But on the other side of the scale was Lori Greiner, who is not only a woman with loads of experience in these types of products, but who has the instant connection with QVC, a deal alone which can make you pretty wealthy. In the end Lori matched Kevin's offer and you went with her, but I think that even if she hadn't lowered the stake she was the right one to go with on this one.You definitely made the right decision, and yes I checked, the product is already on QVC.
The only critique I have is that you should have been tougher and not let Lori push you around so much. She pressured you into rushing into the deal, when you were really not forced to accept hers at all. You should have taken your time making one of the biggest decisions of your life, because you had Kevin's offer as well. And it should have been obvious to you that Lori wasn't going anywhere too soon, and that you therefore could have thought about your decision more. Overall performance: 7