Iskra Tsenkova came onto
Shark Tank Angel Shave Club Update
- Entrepreneurs: Iskra Tsenkova
- Business: Shaving Accessories
- Ask: $300,000 for 10% equity
- Result: No deal
- Sharks: None
One of the problems the sharks had with the company that Iskra was presenting to them was that it was a subscription-based model, which loses a chunk of its customers every few months due to turnover.
The cost of the subscription also didn’t make sense, at least according to a few of the sharks. Iskra remained confident that she would still be able to secure a deal, however, it seemed her options were running out quicker than expected.
The lack of company profitability up to the time of the pitch began forcing sharks to consider dropping out. The first shark to drop out was Lori Greiner because she had a different idea for the company’s path forward than what Iskra had presented during her company’s pitch. Barbara Corcoran simply didn’t understand the subscription model for the company, so she also dropped out with Lori.
Mark Cuban and Kevin O’Leary simply didn’t see a way for themselves to invest and make their money back in a timely manner. They both dropped out after Lori and Barbara, leaving only Sara Blakely remaining to potentially strike a deal with the Angel Shave Club founder.
Unfortunately, it didn’t take long for Sarah to drop out as well because she believed other large companies already owned too much of the market share.
Now it’s time to transition to our Angel Shave Club update to see whether or not Iskra’s company has managed to find success after missing out on a deal with the sharks.
Sadly, the company ran out of money in the final month of 2019 and is no longer in business. The sharks usually have pretty stellar instincts and it turns out that their clairvoyance was correct about Angel Shave Club.
You can find the other company updates from Season 10 Episode 11 here:
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