Sunday night's premiere of Shark Tank on ABC featured the entrepreneurs behind five aspiring projects trying to convince five venture capitalists to invest their own money in their ideas.
Tod Wilson, owner of Mr. Tod's Pie Factory, landed money so his sweet potato pie bakery could expand and possibly find its ways onto McDonald's menus, but to do it, he had to give up half his company to Barbara Corcoran and Daymond John.
Among the products savaged by the Sharks:
* Darrin Johnson's Ionic Ear, a Bluetooth phone answering device that's -- gulp! -- surgically implanted into the neck. "It's pretty disturbing and it freaks me out," said fashion mogul Daymond John as he bailed.
* WiSpots, an advertising delivery system for patients physicians' waiting rooms brought to the Sharks by Kevin Flannery, a guy who is double-mortgaged to the hilt and about to lose his home.
* Nick Friedman and Omar Soliman's College Foxes Packing Boxes, a female company to counter moving company College Hunks Hauling Junk. When the Sharks wouldn't invest in the new venture without getting a piece of the existing business, the young founders offered an overvalued investment offer of $1 million for a mere 10% stake of their company. "You're pigs," spat investor Kevin O'Leary. "Pigs get slaughtered." They left empty-handed.
On Monday, WalletPop's Jason Cochran snagged a video interview with Tiffany Krumins, the nanny from Auburn, Georgia, whose Emmy the Elephant (now called Ava the Elephant) was snapped up by real estate magnate Barbara Corcoran. Her request for $50,000 in exchange for a 15% investment was upped by Barbara Corcoran, who ended up chomping 55% of her business.
A lot has happened since she braved the Sharks -- including a medical crisis. Make sure to bookmark our AfterShark page for the interview.
Update: You can find a video of the interview by clicking here.
Learn the most important step in structuring an investment portfolio.View Course »