Andrew Feld went into the tank looking for $150,000 for 10% fairness in Contemporary Patch. Earlier than showing on “Shark Tank,” Contemporary Patch had already reached $1 million in gross sales, and Feld hoped that an funding from the Sharks would enable him to open one other distribution middle to decrease delivery prices. Feld defined to the Sharks that every Contemporary Patch price $5 to provide and $7 to $15 to ship, whereas prospects paid solely $25 for every patch.
Kevin O’Leary made Contemporary Patch its first supply, $150K for 33.3% of the corporate, however Feld was involved that this was an excessive amount of fairness to surrender. Barbara Corcoran jumped in to suggest a deal of $150K for 20%, so long as Feld agreed to carry his product into retail shops. O’Leary lowered his supply to match Corcoran’s however with out the added contingency. Mark Cuban was and requested Corcoran if he may companion together with her, and the 2 joined in on Corcoran’s unique supply. Feld took the deal, strolling away with an funding from the 2 Sharks.