Shark Tank recap: Andrew Banks and Glen Richards score a stake in Rhinohide
Emotions were running high during last night’s episode of Shark Tank, both for the sharks battling out to land investments, and for two of the entrepreneurs who failed to convince the judges to back their startup.
In the first Shark Tank episode to air on a Wednesday evening – the show having moved from its previous Sunday night broadcast spot – the sharks heard pitches from the founders of four businesses.
Two of the businesses walked out of the tank with deals, but two businesses left empty-handed.
Banks and Richards see potential in car protection business, Rhinohide
Also landing a deal in last night’s episode was Marc Berryman, the founder of Rhinohide, which manufactures panels that protect car exteriors from scratches.
Asking for an $80,000 investment for 10% of his business, Berryman failed to convince Allis and fellow shark Naomi Simson of the benefits of getting involved in the business.
However, he captured the interest of Andrew Banks, Steve Baxter and Glen Richards, who all made offers.
While Banks and Richards initially offered to invest in Rhinohide in exchange for a greater equity stake, Berryman agreed to a deal that would see both sharks each take a 10% stake in the business for $80,000 each.