Hans Dose appeared in the tank during Season 13 with a product inspired by octopi. His suction tripod and mount, Tenikle, was doing well before he made it to the show and he was ready to grow the company even more. However, he ran into a few snags and could benefit from an investment. How did the sharks feel about the product? Find out in our
Shark Tank Tenikle Update
- Entrepreneur: Hans Dose
- Business: Suction tripod and mount
- Ask: $200,000 for 10% equity
- Result: $200,000 for 30% equity
- Shark: Daymond John
Hans went all-in to create his hands-free, waterproof suction mount and tripod, Tenikle. He had $270,000 in debt and sold his house to live in an RV in order to fund the project. After a successful Kickstarter and nearly half a million in sales the previous year, Hans seemed to be doing well. However, he was out of marketing money and had $110,000 in unsold inventory.
The margins were great on each sale, but the sharks were concerned with the way business was going. Kevin O’Leary was the first to voice an opinion. He loved the product and Hans himself but went out because he feared he’d have to but in too much work and it wouldn’t be worth his time. Lori Greiner followed quickly behind him, saying that the crowded space wasn’t for her.
Robert Herjavec, on the other hand, made a dynamic offer not often seen on the tank. He wanted to give Hans $270,000 to pay off his debt, plus $100,000 to seed a relaunch of the company. The only catch was that he wanted 60% equity. He also had a condition: Hans would bring in new partners, and their equity share would come out of Robert’s stake.
It was an impressive offer, and Hans seemed to consider it. Daymond John told Hans about what it was like starting his clothing brand, and how down to the wire it was for him, too. He offered Hans $200,000 for 30% equity.
Mark Cuban might have made an offer, but he went out because Daymond’s offer was the best on the table.
After some deliberation, Hans respectfully declined Robert’s deal. He tried to negotiate Daymond down to 25% equity, but Daymond wouldn’t budge. In the end, Hans agreed to his deal. Where is Hans now? Keep reading our Tenikle update to find out.
Even before appearing on the show, Tenikle was creating a buzz at Buzzfeed, QVC, and HSN. Customers agree that the product is an innovative take on a common market and that the product is as versatile as they come.
Thanks to a Tenikle update during a later episode of Season 13, we learned that it completely sold out on Amazon five minutes after the episode aired, earning it a #1 ranking in its category. In just one and a half months after
After securing a deal, Daymond brought on his friend Cody Grandadam (President of Litezall) as a strategic partner, who is helping Tenikle expand its retail presence. According to the Tenikle update, the company recently received an offer to buy over $1 million worth of products for retail.
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