Don’t you wish beach gear was easier to carry, set up, and pack up? Greg Besner and Leslie Hsu have a chair for you. The Sunflow chair is portable, lightweight, and comes with all of the accessories you need to enjoy your time at the beach. Keep reading our Sunflow update after the
Shark Tank Sunflow Update
- Entrepreneurs: Greg Besner and Leslie Hsu
- Business: Easy-fold beach chairs with accessory options
- Ask: $1 million for 6% equity
- Result: $1 million for 5% equity + $5 per chair royalty until $1 million recouped
- Shark: Kevin O’Leary
Sunflow launched 13.5 months ago. In that time, it has $2.9 million in sales. These numbers impressed the sharks, but most were worried about the high valuation. Similarly, they expressed concern about the price of the chairs. Each chair was $200 without the accessories, which seemed a bit expensive.
Guest shark Daniel Lubetzky was the first to make an offer. He wanted to give them $1 million for a 22.5% stake. However, Greg kept talking to the other sharks about how they’d make money. Mark Cuban, in particular, was worried about making any investment back. Because Greg and Leslie took too long with the other sharks, Daniel retracted his offer and went out.
Mark was out next because he couldn’t get over the high valuation. Barbara Corcoran, on the other hand, thought that Greg and Leslie were overconfident. She didn’t share their confidence, so she went out. Lori Greiner followed, stating that she thought their sales would trail off. This left Kevin O’Leary.
While Kevin struggled with the valuation, he ultimately offered $1 million for 4% equity, with a $5 royalty per chair until he recouped $2 million. Greg thought this offer was too aggressive. After haggling back and forth, the couple finally got Kevin to agree to $1 million for 5% equity, plus a $5 per chair royalty until he recouped $1 million. Check out our Sunflow update to see if Kevin’s investment helped the company.
Our Sunflow update research revealed that the company has released more accessories since airing on
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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!