Clean Bottle owner Dave Mayer came to the Shark Tank seeking $60,000 in exchange for 5% of the company. His product was a water bottle which had a removable bottom which makes cleaning the bottle easier. Launched in May 2011, Clean Bottle sold 150,000 units grossing $750,000 since inception. Robert Herjavec thought it was a simple idea that he was surprised it had not been done before. In a surprise, Bill Walton came in as the company mascot because he is a fan of the product. Walton had no equity stake.
Daymond John offered $60,000 for 25% of the company. Dave said it only valued the company at $240,000 which was not that interesting. Kevin O’Leary offered $60,000 for no equity and wanted a royalty of $.50 per bottle sold. Dave thought taking money out of the business at this stage wasn’t prudent.
Robert Herjavec offered $60k for 10% and Mark Cuban countered with $60k for 8%. Herjavec then re-offered $60k for 5% which was Dave’s original ask.
Dave then went back to Mark Cuban with a request to take $60,000 at 6%. At this point, Herjavec rescinded his offer saying he doesn’t like to be ignored. After consulting with his father, Dave came back to Mark Cuban at 7% for $60,000. Mark Cuban