Erin Robertson is the creator of the Ta-Ta Towel, a specialized towel that is designed to contain breast sweat. She came into the tank asking for $200,000 in exchange for 10% equity, effectively valuing her business at $2,000,000. Since you’re probably interested in knowing what went down in the
Shark Tank Ta-Ta Towel Update
- Entrepreneurs: Erin Robertson
- Business: Specialized Towel Bras
- Ask: $200,000 for 10% equity
- Result: $200,000 for 40% equity
- Shark: Lori Greiner
After explaining her product and demonstrating how the Ta-Ta Towel works, Erin passed out a few samples. The sharks wanted to dive into the numbers and actually negotiate. Erin values her company at $2,000,000, but the sharks wanted to ask several logistical questions about the company’s past performance before believing that valuation.
Erin revealed that she can sell the Ta-Ta Towel for around $45, while having manufacturing costs at approximately just half of that. She really managed to shock the sharks when she said she had more than $1,000,000 in sales during the past year, all of which have come from sales on her own website. One important question remained, if she’s doing so well, why does she need the assistance of a shark?
After the sharks learned that many of her sales came from a viral social media incident, other profit projections started to not add up. Mark Cuban decided to drop out once he learned of these discrepancies, quickly followed by Robert Herjavec, Barbara Corcoran, and Kevin O’Leary. That left only Lori Greiner still in on the negotiations, and she definitely seemed interested in making an offer.
She told Erin that she would need to have half of Ta-Ta Towel in order to make a deal, but Erin quickly countered with 15% instead. They eventually struck a deal for $200,000 for 40%, so Erin would partner with Lori Greiner to try and blow up her business. Did it work? Let’s take a look at our Ta-Ta Towel update.
Ta Ta Towel is still in business at the time of writing and has expanded quite successfully with multiple product types and a whole ton of digital marketing. They are prominent on Instagram and continue to sell products on their website, as well as on Amazon. The future still remains bright for Ta-Ta Towel as they continue to come up with new ideas to add to their product catalog.
You can find the other company updates from Season 10 Episode 2 here:
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