Shark Tank: Bridal Buddy Accepts $75,000 Offer from Kevin O’Leary and Lori Greiner
By Erica Abbott
Last into the tank for the season is Pennsylvania-native Heather Stenlake of Bridal Buddy, seeking $75,000 for 10 percent equity.
Bridal Buddy is a must-have accessory for brides on their big day. Friends and family are no longer needed when brides have to use the bathroom. Bridal Buddy’s net-like product holds the wedding gown perfectly in place, making it easy for brides to use the bathroom. The sheer Bridal Buddy, which costs $39.95, is put on under the gown and pulled up into a handy dress holder for that unavoidable wedding-day bathroom trip. According to their website, their mission is “to save the brides of the world from having a horrible bathroom bridal experience.”
The sharks seem very impressed with the concept, but “King of Weddings” Kevin O’Leary jokingly worries about breaking the bridesmaid tradition of helping brides go to the bathroom at their wedding. They have done $195,000 in sales. David’s Bridal has told them it does not go with their merchandise.
Mark Cuban congratulates Stenlake on chasing her dreams, but does not want to go into the wedding industry. He goes out, followed by Robert Herjavec, who believes selling online would be too challenging. Lori Greiner resonates with Stenlake’s fighting spirit and offers a deal with O’Leary for $75,000 for 50 percent, contingent on bringing in Marissa, her Bridal Buddy model, at 25 percent to help with sales. That would leave Stenlake with only 25 percent of her business.
Barbara Corcoran then jumps in and offers $75,000 for 33 percent. That causes O’Leary and Greiner to revise their offer for 40 percent without the contingency. She counters Greiner and O’Leary at 30 percent, which Corcoran says she will accept. Ultimately, however, she accepts the deal with O’Leary and Greiner.
Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging business to six multi-millionaire and billionaire investors, known as sharks: Mark Cuban, owner of the Dallas Mavericks; Daymond John, fashion mogul and founder of FUBU; Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group; Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC; and Robert Herjavec, technology guru and founder/CEO of the Herjavec Group. Venture capitalist Chris Sacca is also slated to appear as a guest shark this season.
“Shark Tank,” which is based on “Dragons’ Den,” is produced by Mark Burnett and first debuted in 2009. To date, the sharks have invested more than $87 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Friday at 9 p.m. on ABC.
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