Ava The Elephant Update | Shark Tank Season 1
Tiffany Krumins believed that she had invented a prototype that would prevent kids from being afraid of taking their medicine. A small accessory she developed would appear like a small toy and play an audio clip that comforted the child while they were given their oral medicine. Let’s see if Ava The Elephant would receive a deal on
Shark Tank Ava The Elephant Update
- Entrepreneurs: Tiffany Krumins
- Business: Medicine Accessory
- Ask: $50,000 for 15% equity
- Result: $50,000 for 55% equity
- Sharks: Barbara Corcoran
Some of the sharks had doubts about whether there was any way to make money with Tiffany’s products. Since the prototype was only in the development phase, many sharks dropped out fairly quickly. This included sharks like Kevin O’Leary and Robert Herjavec.
Ava the Elephant is the only talking medicine dispenser, seen on shark tank. Ava helps administer the entire medicine dosage on the first try and it creates a pleasant experience for kids to take their medicines and gives them positive reinforcement. The included dropper is filled with the desired medicine and the stopper is then inserted into the opening on the back of Ava.
Considering that Tiffany had only tested the prototype product on a single child, the sharks agreed that there really wasn’t enough information on whether kids would actually like it. The sharks had concerns that children would associate the medicine accessory with fear. While many of the sharks were concerned, it turns out that one particular shark was willing to accept the risk in exchange for a large chunk of equity.
Barbara Corcoran was the only shark that was willing to make an offer. She offered Tiffany $50,000 in exchange for 55% equity, which seemed like a significant amount. Tiffany did not like the sound of the deal at first, but she decided to accept the offer. She realized that Barbara’s value was important to her success, so that is why she gave up a large portion of her business.
Let’s quickly get an Ava The Elephant update from the present day. The great news is that the company has generated a large amount of success. Tiffany played a significant role in growing the business with Barbara.
Tiffany would go on to win a battle with cancer and decided to eventually license the company to the brand Better Family. A recent commercial was filmed featuring Tiffany. Ava The Elephant may be one of the greatest success stories of all time from Season 1 of
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Jeremy is a regular contributor at Shark Tank recap. He has a ton of passion for the show and enjoys researching information about what all the companies are up to now. His favorite Shark Tank companies are The Cookie Dough Cafe and Kronos Golf!