The largest deal so far this season was made with Breathometer, $1,000,000 in exchange for 30% of the company. The company's founder, Charles Michael Yim, explained his business succinctly and clearly while remaining calm, cool, and collected throughout his duration in the Shark Tank. He started off asking for $250,000 in exchange for a 10% stake in his business, but ultimately got more than what he came for - a final one million dollar round of investment along with a very powerful group of investors.
Obviously this deal will go down as one of the few businesses to seal a deal from all five Sharks on the panel. But what made this deal so interesting to watch were the two turning points which were rather unexpected and somewhat atypical.
The first of these turning points was the transition in Mark's attitude from being obstinate and unrelenting to being more cooperative. Mark Cuban is known to be aggressive and extremely competitive, traits which were both exemplified in the beginning of the discussions. But once Kevin took charge and joined together with the other Sharks to try and raise the full round of $1,000,000, Mark had to acquiesce and join as well because he knew he would not stand a chance against the other offer. Seeing Mark change his stubborn mind is not something which happens often in the Tank, or anywhere quite frankly.
The second turning point in this pitch occurred after Yim requested permission to step outside and call his CFO, Matt Ackerman. Stepping out of the Tank is a brave move, as it gives time for the Sharks to collude and share their thoughts without the entrepreneurs hearing. It also gives them time to project what the entrepreneurs will say when they walk back in. In this case, Kevin O'Leary and Daymond John were both certain that Yim would counter asking for a reduction in the equity percentage to 25%. As viewers, we have the privilege of seeing both sides of the fence, and I think we were all surprised with the end result: The Sharks did not collude and ask for more, and Yim did not give a counter offer (even though his CFO made it sound like he should continue negotiating). Instead, Yim came back with a "yes" and accepted the deal.
There is one more point worth mentioning, which is a role we've all seen Robert Herjavec assume in the Tank. That is, when Yim stepped back in, Robert immediately began summarizing the deal as they left it, and made sure to highlight the fact that all the Sharks were in as the deal stands. Robert is almost always the one to do this, and the reason is crystal clear. He knows how to make any deal sound good, and how to almost subconsciously convince the entrepreneur that the deal on the table is one worth taking, and not one worth losing over another few percentages of equity. That's what makes him a Shark.
Overall Performance: Presentation: 48/50. Strategy: 21/25. Product: 24/25