Shark tank: Detrapel

Shark tank: Detrapel

Learn about business and negotiations with the following clip.


Discuss:

1. What´s the product like? What are its main features?

2. Do you think it´s a good product? Why? Why not?

3. Do you think David got a good deal? Did he make the right choice in terms of partners?

4. What do you think about Robert´s move as a last intent to persuade David? (Discuss the concept of a "Hail Mary" and the "immigrant card")


Transcript:

Broadcaster: Next up is an added layer of protection for some everyday items

David: Oh my God. This is the worst possible time for this to happen. Hi my name is David Zamarin and my company is Detrapel. I'm here today seeking a $200,000 investment in exchange for a 20% equity stake in my company. You see, a coffee spill like this could seriously ruin a chance to make an amazing first impression like I'm trying to do right now and luckily for me, I came prepared. Now, this is a super shirt, a shirt that won't let you down and won't let you walk into a situation looking like a mess because this special shirt has been treated with my product Detrapel. Detrapel is a super hydrophobic liquid repellent spray that is made to keep your things clean. Our formula shields your belongings from any liquid based substance aka super hydrophobic. Say you're watching TV with a glass of wine and you accidentally spill it all over your carpet. Watch as it beats immediately off. 

Shark: Wow got to be kidding me

David: Or maybe your kids step into a mud puddle with their brand-new shoes. I know. Good as new because you've got Detrapel. Or say you're at a backyard barbecue when all of a sudden you get a glob of ketchup all over your t-shirt. Or maybe you're someone who likes mustard (don't do it). How about some relish you see no matter what you prefer the shirt always stays clean because you've got Detrapel

Lori: And that's water?”

David: That's water. Now, the best part is that one easy application lasts a whole year with no glossy barrier, no white discoloration and it's completely non-toxic. Our formula is so safe that you could even do this. No need to worry about carcinogens or the need for protective gear. Sharks we're a young growing brand that needs your help ramping up production. So if you want to keep your dorsal fins clean and spray them with Detrapel. 

Barbara: How did you come up with the idea?

David: I grew up as a kid who comes from very low-income background. My parents are both immigrants. My dad's from Moscow, my mom's from Kiev and I came up with this idea ´cos I really cared about my stuff because I didn't have that much money. Then I got these two brand new Jordans that I was so psyched about and I was so scared of getting them dirty or messed up so I had this idea that I want to come up with some kind of spray that you can put on and peel off whenever it got dirty. But I wasn't a chemical engineer, I was a freshman in high school so I actually pivoted my idea and did a shoe cleaning business for all the local university sports teams in Philadelphia. I ran that for about four months. We did about 25,000 a month in revenue. Cleaning shoes  basketball shoes cleats, you name it. 

Mark: Why didn't you keep that business going? Cuz that's easy money. 

David: So, I stopped the business because I got an offer to sell my first business and I sold it for $150,000.

Mark: While you were in highschool?

David: I took almost all of it and I put it into  this.

Shark: This is all while you were in highschool.

Shark: This is all while I was still in highschool

Shark: How old are you?

David: I´m 19 years old. 

Robert: I thought you were about thirty! 


5:57

Mark: I'll shorcut this David I'll give you the 200,000 for 25% and I'll put a stipulation that you own the formula I'll put you in touch with my other nano guys to know this stuff a whole lot better, have all the technology and we can get you going. What do you want to do?

Lori: No, wait.

Broadcaster: All sharks are still in. David has one offer on the table from mark 200,000 for 25% of his stain-repellant Detrapel, but Lori also seems interested

Lori: I will give you an offer for 200,000 also for 25%. Again, I want to make sure that all of your testing all of that shakes out

David: Would you consider partnering together? 

Mark: I don't know. What's your ultimate goal? 

David: The ultimate goal is to extend to an actual chemical company that does an array of cleaning lines or maybe not in cleaning but really protectant line.

Mark: So what is the one thing that you think sets you apart that you came up with that is your golden ticket?

David: All of our products are on a nano level most companies only focus on one thing 

Rohan: By the way I'm gonna throw in as well. I'll give you 200,000 for 25%

David: Ok so thanks for your offer

Mark: That's my question what expertise do you need to get where you want to go? 

David: I really need help on the business side of it, not necessarily on the chemical side. We can, I think we can figure that part out of it. 

Shark: You want brand-building, distribution

David: I need the right people to work with me 

Mark: All right if that's what you need then I will go on with Lori because if it's the business that we both can complement each other plus I've got some really strong investments in the noc…nano side

Robert: Well David look, manosh mano  oh I don't care you figured it out you're a 19 year old dynamo, my friend, this is incredible.

David: I appreciate it 

Robert: I would love to be in with you and I would love to have my friend Rohan go in with me if he's open to it. I was thinking 200,000 for 23% just a little sweeter just a little bit better than the other sharks.

David: Thank you.

Robert: Rohan is highly successful. He knows technologies build stuff I know how to build brands you know that there's big major companies out there looking for innovation. On this they come to me to help go find the innovation. Robert brings a skill set that I don't have. Together it's a dynamic duo.

Lori: Mark and I have decided that we will go in together. I am very fast to market and what I do is infomercials, TV and retail.

Robert: None of us have ever done an infomercial

Lori: Well I'm not I'm not going to comment on what anybody else does. I only know what I can do and I think that you do need to move fast you do need to blitz the market.  I think that Mark and I can do that for you. 

Barbara: I don't think necessarily I'm your best partner in this. I think Lori and Mark are the unbeatable combination and you should grab the money and run. I´m out but go with these two.

David: Thank You.

Mark: Lori and I are offering you $200,000 for 25% Rohan and Robert made some crazy ridiculous offer that's irrelevant but it turned out to be $200,000 for 23%

Robert: We´ve never built big brands before. We don't know how to build a big brand.

Mark: What would you like to do?

Robert: David there's something that Rohan and I have that with all due respect to Lori and Mark, they don't have. We're immigrants to this country and we came here with nothing. If anybody here understands hard work I think that we can help you get to where you want to go.

Lori: Robert!

Robert: We understand that hunger

Rohan: I like that, Robert.

Shark: Time to decide, David.

David: Mark and Lori, I think you got a deal.

Mark: Let's do this! 

David: Thank you guys I really appreciate your offer.


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