@ BagBowl

The BagBowl is an exoskeleton-type product which essentially transforms a Ziploc bag into the shape of a bowl, by providing structure for it, as shown to the left. As the BagBowl is flexible and lightweight, it doesn't really take up any space and is therefore especially useful when travelling and easy to store. The product is also fairly inexpensive, as it only costs $3.99 for a pack of two reusable pieces.

BagBowl owners, Brian and Kevin Fleming, started off their presentation full of energy. They were clearly well-rehearsed as they plowed through lines and switched off paragraphs explaining the details of their product. Their presentation was very creative and each and every Shark (yes, even Kevin) was seen with a smile on his/her face. But then the important stuff started to spill out. How much revenue? None. How many orders? None. These answers were quick to turn off Kevin O'Leary from investing. And then we saw something which was rather interesting. The Fleming brothers referred to Mark Cuban as "Cubes", which instantly earned them an "I'm out" from the Mavericks owner who apparently isn't fond of being called nicknames, at least by people asking him for an investment. Lori Greiner however did see value in the company. She said that it's a clever idea and that BagBowl's easiness to use will be enough to sell on QVC. She then gave them $40,000 in return for 33% equity in the company, which in my opinion is a bit pricy for a start-up company without any sales. Lori though clearly has plans for BagBowl and feels she can make it work. Overall Performance: 7

(BagBowl owner, Brian Fleming, has brought to my attention that the correct website for BagBowl is in fact www.buybagbowl.com.)

Jeff HopkinsComment