When LaTangela Newsome appeared on “Shark Tank” (Season 8, Episode 13) to pitch her product, she had but to promote a single unit. Although she had no gross sales, Newsome had lately discovered a producer to make the luggage, and deliberate to promote packs of three for $12.99. Regardless of the excessive value of the luggage, every set of three would solely value the corporate $2.34. Newsome confirmed the Sharks a pattern of the prototype, displaying how the padding inside absorbed grease that had cooled. Nonetheless, she hoped a shark would make investments $75,000 for 25% fairness in her firm.
A number of of the Sharks discovered points with the product, together with that it was not able to dealing with scorching grease. Although Mark Cuban, Lori Greiner, Kevin O’Leary, and Robert Herjavec have been out on the invention, Barbara Corcoran supplied Newsome $75K for 50% fairness so long as the founder lowered the worth of the luggage by half. The Grease Baggage inventor took the deal, regardless of that it might sacrifice half of her possession.