Audiences got to see Charlie Williams and Brad Boskovic secure a deal in the
Shark Tank Digiwrap Custom Tissue Paper Update
- Entrepreneur: Charlie Williams and Brad Boskovic
- Business: Customizable, digitally-printed tissue paper
- Ask: $150,000 for 10%
- Result: $150,000 for 20% and a $0.10 royalty per bag and $0.05 royalty per tissue until Kevin makes $450,000
- Shark: Kevin O’Leary
Charlie and Brad went into the
Unfortunately, despite the impressive sales figures, both Robert Herjavec and Mark Cuban didn’t think that it was worth investing in the business, so they both went out. Meanwhile, Barbara Corcoran thought that the market wasn’t big enough for an investor and went out. Lori Greiner followed soon after.
The only shark left that saw the company as a unique opportunity to make money was Kevin O’Leary. He decided to offer Charlie and Brad $150,000 for half the company. The two then countered back to 20%. Kevin countered by lowering his ask to 40%, and then 35% before the two countered with 15% equity but with royalty.
Upon hearing this, Kevin offered to invest $150,000 for 20% equity with a royalty in perpetuity. This back and forth went on for a while until the three of them decided on a deal. Kevin would get 20% equity for his $150,000 investment and receive $0.05 per tissue and $0.10 per bag sold until he made back $450,000.
Unfortunately, in doing our research for the Digiwrap update, we found out that the deal with Kevin never materialized. It appears that it was too sharky for Digiwrap’s tastes. However, we’ve got some good news — Digiwrap is doing very well and is still selling loads of tissue paper on its website.
According to reports, Digiwrap now pulls in an estimated annual revenue of $3 million.
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