By Erica Abbott
Next up are Adam Rauch and Derek Shaw of Laid Brand, seeking $30,000 for 30 percent equity.
Laid Brand offers hair products enriched with pheromones. The products can help enhance color, in addition to protecting and hydrating hair. The pheromones help girls “exude confidence” wherever she goes. The hair care products come in three varieties—Fill Me Up, Rockin’ and Straight 2 Kinky—and cost $24.99 or $74.97 regularly for the bundle. According to their website, their products “not only make your hair healthy, shiny, and beautiful, but are also formulated to make you feel great.”
Robert Herjavec worries about the name but they point out that other beauty products have very “provocative” names, too. In the last three months, they haven’t had any sales because they have only done a test pilot so far. The sharks are also not convinced on their “pheromone community.”
Herjavec doesn’t see it as unique or proprietary and goes out, followed by Kevin O’Leary for having too many concerns over shelf space. Lori Greiner worries about competition in the hair care industry and also points out that she didn’t smell anything. She goes out, as does Mark Cuban and Barbara Corcoran.
Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging business to six multi-millionaire and billionaire investors, known as sharks: Mark Cuban, owner of the Dallas Mavericks; Daymond John, fashion mogul and founder of FUBU; Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group; Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC; and Robert Herjavec, technology guru and founder/CEO of the Herjavec Group. Venture capitalist Chris Sacca is also slated to appear as a guest shark this season.
“Shark Tank,” which is based on “Dragons’ Den,” is produced by Mark Burnett and first debuted in 2009. To date, the sharks have invested more than $87 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Friday at 9 p.m. on ABC.
Would you try out any of the Laid Brand hair care products? Sound off in the comments section below!