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Shark Tank season 16 episode 18 aired on May 2 on ABC, featuring four products. Two businesses secured deals that included royalties, while the others left empty-handed.
Jaju Pierogi shared traditional Eastern European dumplings from a family recipe. Permaplug offered a charger that’s always ready to use. Fanion introduced a product to stop onion tears, and Rocco showed off a drink-only fridge for easy access.
Mark Cuban, Kevin O'Leary, Lori Greiner, and Robert Herjavec returned to the investor panel and were joined by the new main shark, Daniel Lubetzky.
What happened on Shark Tank season 16 episode 18?
Jaju Pierogi
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Sibling duo Casey and Vanessa were the first contestants to pitch their product on Shark Tank season 16 episode 18 and sought $300,000 for 8% of their company. Called Jaju Pierogi, the business offered Eastern European dumplings made using a family recipe passed down through generations.
The founders shared in their pitch that Pierogi were Eastern European dumplings that were traditionally made with potato, cheese, and dough, later boiled and fried in butter.
"We use the same ingredients our grandfather used. Our dough tastes like it was rolled out on the kitchen table. Our pierogi are pre-boiled, flash frozen and ready to eat in 10 minutes. They're great for families and individuals alike," the Shark Tank entrepreneurs said in the pitch
While all of the sharks liked the taste of the samples, most were hesitant to invest. Lori and Mark felt that the profit margin was too low for them to consider, so they took their exit from the deal, followed by Daniel, who had already invested in a similar category product.
Kevin offered $300,000 for 20% of their company. However, after a brief discussion, the founders chose not to take the investment and left empty-handed.
Permaplug
Founder Zak introduced his company, Permaplug, with the promise of a product that would ensure that the user always has a phone charger when they need it. He sought $350,000 for 15% of his company.
Zak explained in his Shark Tank pitch that their Permaplug Charger Lock was a proprietary, fully patented locking system that secured the user's charger and cables into place so it can't be "moved, stolen, or accidentally unplugged".
Permaplug had already made more than $400,000 in sales, and the founder shared that he needed the investment to increase his float and maintain a proper size of inventory.
Zak made a deal with Shark Lori, who offered $350,000 for a 20% stake. She also asked for a $1 royalty per piece until the full investment is paid back.
Fanion
Founding father-daughter duo, Glenn and Madison Smith, introduced their company, Fanion, which promised to "blow away a common cooking hazard." They sought $90,000 for 15% of their company.
"The Fanion is a countertop cute cordless fan which simply blows away the fumes and vapors of eye-irritating vegetables such as onions, shallots, peppers, garlic, et cetera. You'll only cry tears of joy. It really is that simple. So come on, Sharks. Who's ready to chop it up with the Fanion?" the Shark Tank entrepreneurs pitched.
The sharks felt that the product was targeting a very niche market, and Mark even said that most people won't spend $19 just for the ease of cutting onions. Additionally, the company was in the loss and wasn't making any profits, so one by one, all the sharks took their exit from the deal.
Rocco
Founders Alyse and Sam introduced their product, Rocco the super smart fridge, which was labeled as a "stylish upgrade to an everyday appliance." They sought $600,000 for 3% of their company.
"Sharks, as you can see, kitchen fridges are crowded. They're cluttered. They're just plain chaotic. That's why we created the Rocco Super Smart Drinks Fridge. It's designed as furniture so you can keep all of your favorite drinks away from those leftovers... And where you actually drink them in the living room," they pitched.
Separating from the usual freezers, Rocco offered a "one-of-a-kind shelving system" that accommodates all sizes of bottles and cans. The top doubles as a pour, serve, and store station, and with their patent-pending sight system, users could keep track of their drink storage.
The Shark Tank entrepreneurs made a deal with Lori, who offered $600,000 for a 4% stake, with a $50 royalty on each fridge until she gets her money back, plus another $300,000.
Shark Tank season 16 episodes air every Friday on ABC.
