Richard Elden came to
Shark Tank dbest Products Update
- Entrepreneur: Richard Elden
- Business: Innovative portable laundry and shopping carts
- Ask: $350,00 for 5% equity
- Result: $350,000 for 20% + $2 million line of credit
- Shark: Lori Greiner and Mark Cuban
Richard’s amazingly innovative carts seemed to have solved every problem with standard carts. He has a complete line of different carts, luggage, dollies, and more. He’d been in business for 15 years and used to be featured on QVC.
When he appeared on
The only problem was that Richard was having problems keeping up with inventory. He was selling out often and not able to fund new orders.
With all the facts on the table, Daymond John was the first shark to make an offer. He offered Richard $350,000 for 15% equity, plus a guarantee to fund and fill all future orders. This was understandably an appealing deal for Richard.
Kevin O’Leary also made him an offer: $350,000 as a line of credit at 18% interest and 5% equity. With two offers on the table, Robert Hervajec bowed out, stating he couldn’t follow the company’s business model.
However, this only made Lori Greiner more interested in making a deal. She offered Richard $350,000 for 15% equity. Before she could finish, Mark Cuban interrupted and said she was underselling herself. He wanted to go into a deal together. They offered $350,000 for 20% equity plus a $2 million line of credit at 15% interest. Richard would get two sharks in this deal.
Richard debated a bit, unsure which deal was best. He waited long enough that Daymond dropped his offer.
He tried to counter Lori and Mark at $700,000 for 15% equity plus a line of credit to fund orders. They refused, and Richard then declined Kevin’s offer and accepted Mark and Lori’s original deal. Is the company still successful? Find out in our dbest Products update.
We’ve partnered with six companies to put together a Shark Tank Stocking Stuffer Box that’s worth $100! Here’s everything that’s in the box:
- Sheets Laundry Club Travel Packs x2
- Honey Bee Bars - 12 Pack
- Snactiv Finger Chopsticks
- FryAway Cooking Oil Solidifier
- Pizza Pack
- Nature’s Wild Berry Sampler Pack
We reached out to Richard to get an official dbest Products update. While it turns out that the deal with Mark and Lori didn’t end up going through, things have been going great since
“Today we are the #1 cart company in America with the #1 shopping cart/Trolley Dolly, #1 teacher cart/Quick Carts, and the #1 soft sided rolling cooler/Cooler Smart Carts and we will continue to grow into more #1 spots every single day,” Richard told us.
You can now find dBest Products in Bed Bath and Beyond, Target, Walmart, Amazon, Staples, and more. If you’d like to know more, be sure to check out the official website.
That’s all for our dBest Products update!
Catch up with other company updates from
Before you go, take a look at the other company updates from Season 8 on our Season 8 products page.
Kimberly is a writer for Shark Tank Recap. She has written episode summaries and updates across multiple seasons of Shark Tank, with a focus on complete and accurate information since 2021. She believes that getting the business aspects of each deal correct is extremely important for viewers and fans. Her favorite Shark Tank products are The Wobbles and Rocketbook!