On ABC’s “Shark Tank,” Mark Cuban, Daymond John and Lori Greiner all said they could help grow Browndages, a Cleveland-based inclusive bandage company. Here’s how.
That, Cuban said, could have a ripple effect — helping the brand"extend into multiple communities, so they can all feel represented." For example, the Mavericks"partner with schools all around [Dallas]," he said, noting that those schools' nurses could also distribute Browndages' bandages.
In response, the Sharks asked them how Browndages intended to keep up with bigger bandage brands, like Band-Aids. Bashir cited competitive pricing as one way to gain an edge: Browndages' paper boxes retailed for $3.99 each, and only cost 63 cents to make. The duo also spoke about the promise of building a legacy for their children to appreciate.
Bashir and Mahdi asked for $75,000 in investment money, in return for 7.5% of their company. Robert Herjavec declined, saying the scale of Browndages' competition was insurmountable. Kevin O'Leary quickly stepped in, offering $75,000 and the chance to network with larger companies for 15% equity. Mahdi and Bashir countered, asking if Cuban, Daymond and Greiner would be willing to go down to 7.5% each. Cuban said they still wanted 30% but would add in a line of credit. O'Leary, appearing to grow restless, matched the trio's offer of $100,000.
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