Lori Lite came onto
Shark Tank Stress Free Kids Update
- Entrepreneurs: Lori Lite
- Business: Children’s Books
- Ask: $250,000 for 20% equity
- Result: $250,000 for 50% equity
- Sharks: Barbara Corcoran
After selling more than 30,000 units in the previous year, Lori told the sharks that her company’s books had generated more than $180,000 dollars in gross revenue. This was a bit of a shocker to the sharks, as they did not expect Lori to have any sales at all. Lori concluded her remarks about the company’s finances by explaining how she netted a profit of about $50,000 dollars during that year.
Angry Octopus is a story that teaches children how to use progressive muscle relaxation and breathing techniques to calm down, lower stress, and control anger. Children relate to the angry octopus in this story as the sea child shows the octopus how to take a deep breath, calm down, and manage anger. Angry Octopus Color Me Happy, Color Me Calm is a new coloring book that compliments this story.
Robert Herjavec decided to drop out without making an offer because the valuation was too significant. Kevin Harrington shared a similar opinion, but he also struggled with the fact that there were more than ten different children’s books.
He would rather take a pathway of focusing on a single product, rather than trying to find success with all of the different children’s books that Lori had written.
Kevin O’Leary offered to buy the entire company for $250,000 dollars. This offer was quickly rejected by Lori. Daymond John decided to offer $250,000 dollars in exchange for 51% equity in Stress Free Kids.
Barbara Corcoran also wanted a piece of the deal, but she only requested 50% of the company’s equity while offering up the money. Lori decided to accept Barbara’s offer. Now that we’re covered the intense negotiations, let’s quickly get a Stress Free Kids update after
Unfortunately, it looks like the deal with Barbara didn’t end up closing. We couldn’t find a clear reason during our Stress Free Kids update research, but it seems things worked out for Lori as the company is still in business.
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To see updates from the other companies in Season 1, be sure to check out our Season 1 products page.