Tonight on Shark Tank, entrepreneurs from Berkeley, California, make a pitch for their plant-based protein company UMARO.
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Founded by Beth Zotter and Amanda Stiles, UMARO Foods develops plant-based protein from ocean-farmed seaweed. Plant-based bacon will be the brand’s first product to market.
Beth and Amanda face five hungry Sharks in the Tank: Mark Cuban, Kevin O’Leary, Lori Greiner, Robert Herjavec and guest Shark Emma Grede.
The Ask
Beth and Amanda kicked off negotiations by offering 2 percent of their company for an investment of $500,000.
Kevin O’Leary offered $500,000 for an 8 percent stake in the company. Beth and Amanda responded by asking for $1,000,000 for 8 percent. Mark Cuban jumped in and said “I’ll do that deal!” Lori Greiner offered $500,000 for 4 percent.
Beth and Amanda asked Mark if he would go to 7 percent for $1,000,000. Mark agreed and accepted the deal.
Lori Greiner responded with “bummer… bummer.”
A Closer Look
Image via WDTV