Sharon Yu has come up with a great solution for cooking without power or fire. Her portable cooker allows for hot meals on-the-go. What will the sharks think of her product on
Shark Tank Magic Cook Update
- Entrepreneurs: Sharon Yu
- Business: Outdoor portable cooker
- Ask: $100,000 for 20% equity
- Result: $100,000 for 33% equity
- Sharks: Daymond John
Sharon entered the tank with a demonstration of her Magic Cook, portable cooker, as she prepared a meal of Salmon and veggies. With water, a hot pack and her 2 part container system, the food is conveniently cooked no matter where you are. The sharks were impressed when she served up her hot, perfectly cooked meal.
A single portable cooker kit costs Sharon $6.50 to manufacture and retails for $29.99. At the time of filing, she had only been in business for about one year. During that time, she had generated just $150,000 in revenue. The sharks were concerned about the low sales numbers but seemed interested in the product itself.
Mark Cuban and guest shark Nick Woodman, didn’t see the long-term vision in Sharon’s company, so they were the first two sharks to drop out. Kevin O’Leary and Lori Greiner felt that the product was too niche and wouldn’t ever generate enough sales to make their investment profitable in the long run. They were the next sharks to drop out.
Daymond John liked Sharon’s drive and her product. He offered her $100,000 for 33% equity, and she accepted. After making a deal on
The Magic Cook update is somewhat exciting because Sharon has managed to keep her company afloat since appearing on
Would you like to learn more about the other companies featured on Season 6 Episode 10? Follow the links below for our other company updates from the episode.
For even more on companies and products, be sure to stop by our Season 6 Products Page!
Shop the Shark Tank Recap Store
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!