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Shark Tank Season 14 Episode 4, which aired on Friday, October 14, featured aspiring entrepreneurs presenting their respective business pitches to a panel of investors called sharks.
The companies that were welcomed in the latest episode were Ghia, Woosh, Expedition Subsahara, and Storage Scholars. The panel of sharks included Mark Cuban, Daymond John, Kevin O’Leary, Lori Greiner, and Robert Herjavec.
While Ghia and Expedition Subsahara’s founders didn’t get any deals, the remaining two got offers. The official synopsis of Episode 4 reads:
“First into the Tank are entrepreneurs from Austin, Texas, who introduce their all-inclusive solution to make moving to and from college as easy as ever. An entrepreneur from Florissant, Missouri, presents her handmade, African-inspired home-decor line; while an entrepreneur from Los Angeles hopes to give all the highs of life without the booze with her natural nonalcoholic beverage. An entrepreneur from San Francisco is in the business of improving air quality with his smart product designed to bring clean air into homes.”
Read on to find out what deals were made in the latest episode.
Shark Tank Season 14 Episode 4 deals
Four business pitches were made in Shark Tank Season 14 Episode 4. Take a look at how much the founders offered and whether they got a deal with a shark.
Storage Scholars
Young entrepreneurs, Sam Chason and Matt Gronberg, came into the show with an offer of $2,50,000 for 5% equity in their company, Storage Scholars.
The company provides services to college students to move all their items from one university/one dorm room to another. Storage Scholars collaborate with the universities to help students by packing all their items, storing them in a locked facility, and delivering them to the next address.
Sam, 24, and Chason, 20, told the sharks on Shark Tank that they charge $559 for the entire service. Their current year sales were over $1.8 million. The business was initially started by Sam from his dorm room at Wake Forest University. Matt later joined Sam and the two dedicated themselves full-time to the company. They started the business to pay off their student loans, but since the company began making profits, they decided to continue running it.
The sharks were pretty impressed with their pitch on Shark Tank’s latest episode. While Lori was out, Kevin and Daymond respectively offered $2,50,000 for 20% stake. Robert also gave a deal of $5,00,000 for 20%. But the founders were waiting for Mark’s offer as the billionaire too had a similar backstory when he started his first business to pay off his student loans. Mark initially offered $2,50,000 for 12%, then the founders counter proposed to bring the equity down at 10%. Mark agreed and thus Storage Scholars got a deal in Episode 4.
Expedition Subsahara
Sofi Seck, founder of Expedition Subsahara, came in the tank with an offer of $5,00,000 for 10% stake. Her business is about making and selling handwoven and handcrafted baskets that celebrate her Senegalese culture and craftsmanship.
Sofi told the sharks that she started her business with $500 and it has now turned into a multi-million company with no debts. With 95% sales happening through social media and online website, the company’s lifetime sales are $3.6 million. Last year, Sofi made $1.6 million in sales with a gross profit of over millions.
While the sharks were impressed with her backstory, they were not convinced to invest in the company after Sofi mentioned she wanted to go into retail. Kevin and Lori said no for retail reasons, and Mark was out, stating Sofi would operate better as a sole proprietary. Kevin and Daymond too politely declined the founder’s offer. Hence, Expedition Subsahara didn’t get any deal on Shark Tank Season 14 Episode 4.
Woosh
Woosh founder Winston Mok appeared on Shark Tank to present his smart air purifiers’ business. He came with an offer of $5,00,000 for 10% stake. The former Google employee tried his level best to convince the sharks that the product he sells is a necessity.
Robert, Daymond, and Lori mentioned that the type of business Winston was in was not their cup of tea. So, the three sharks were out. Mark predicted that Woosh products were a “hard sale in the market” and for that reason, he declined Winston’s offer.
Kevin was the only shark interested in investing in the company, but he came in with his famous royalties. He initially offered $5,00,000 for 12.5% equity, plus 50 cent royalty per unit. But when the rest of the sharks backed out, Kevin increased the equity percentage at 15%, plus a royalty of 50 cents for every unit sold in perpetuity. Winston was reluctant to take the offer, but said yes after Kevin agreed to lower the equity stake at 10%. Hence, Woosh got a deal on Shark Tank’s latest episode.
Apart from the aforementioned three businesses, there was another one. Melanie Masarin, founder of Ghia, was the only entrepreneur to get two offers but went home empty-handed. Shark Robert wanted to make a deal with her with the exact offer she asked for. But he backed out when she decided to listen to Kevin O’Leary’s proposition. Unfortunately, Melanie was not convinced to accept Kevin’s offer and thus, left the tank with no deal.
Meanwhile, viewers can watch a new episode of Shark Tank Season 14 every Friday on ABC at 8.00 PM ET.
