The camera lucida drawing tool has been around for centuries. Les Cookson, who previously appeared on
Shark Tank LUCIDArt Update
- Entrepreneur: Les Cookson
- Business: A modern camera lucida drawing tool
- Ask: $300,000 for 10% equity
- Result: $300,000 for 15% equity
- Shark: Daymond John
After Les pitched the Lucy drawing tool, he invited Kevin O’Leary up to try it out. Kevin remarked that it was amazing as he drew a beautiful pencil rendition of an actual shark. There were two versions of the tool available—the Flex and Pro. Since launching the product, the LUCIDArt tool had $10 million in lifetime sales. $3.7 million of those sales occurred in 2021.
The sharks were reasonably impressed with these numbers. Les said he needed a shark to help reduce customer acquisition costs.
Mark Cuban was the first shark to leave the deal. He wasn’t excited about the product, so he went out. Robert Herjavec was in the same boat and went out as well.
Lori thought the product was cool and the sales were amazing, but she didn’t think Les needed a shark. She went out, followed by Kevin. He said he didn’t want to go on the journey with Les, as the product was too niche. This left Daymond John.
After thinking about it, Daymond offered $300,000 for 20% equity. Les counteroffered at 12%, which Daymond countered at 17.5%. Finally, Les told Daymond that 15% equity was as high as he’d go, which Daymond accepted. Now, in our LUCIDArt update, we’ll see if that was a good choice.
Initial research into our LUCIDArt update revealed that Les made a few adjustments to the product since airing on
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