SweepEasy is a broom with a scraper built in to help you remove caked on oatmeal and other sticky debris that pitched on Shark Tank. He came in requesting $40,000 for 25% equity. It was founded by stay-at-home dad, Shane Pannell. The retail price would be $19.95.
The company’s tagline is “Scrape, Sweep and Go” and the product according to Pannell is patent-pending.
SweepEasy caused a literal feeding frenzy amongst the angel investors.
Kevin O’Leary said he doesn’t want to be in the distribution of brooms but was more interested in licensing. He initially offered $40k for a 20% stake. After Kevin Harrington‘s input, he then upped it to $50k for 20%.
Kevin Harrington said SweepEasy should explore direct to consumer and not just licensing. Harrington said he’d like to do commercial here in the United State and then license to international markets. He offered a $50k offer for 25% stake.
Daymond John offered $75k for 33% and suggested with his branding expertise that he will “create an entire company”.
Robert Herjavec suggested licensing the technology to existing broom makers. He then collaborated with O’Leary who offered a joint investment for $80k for 40%.
Barbara Corcoran opted out didn’t thinking Shane could handle this business and take it over the finish line.
Daymond John and Kevin Harrington then collobarated and made a joint offer for $80,000 for 25% which Pannell accepted after some pressure from Daymond John.
Check out how we analyzed Shark Tank investment data for seasons 1 and 2. We also highlighted that Mark Cuban has written the largest checks in season 2 and that Daymond John has invested the most money and that Barbara Corcoran has invested the most. And we’ve also discussed whether Shark Tank TV is realistic to the real world.