Tristen Ikaika turned a ring made from a spoon into a social media empire. Now, his company has expanded to include rings made from a host of recycled materials. His limited-edition ring drops sell out quickly, leaving customers wanting more. After sharing his story with the sharks on
Shark Tank Tristen Ikaika Update
- Entrepreneur: Tristen Amal Ikaikamaikai’ikaneokalani Persons, aka Tristen Ikaika
- Business: Limited edition rings made from spoons and other recycled materials
- Ask: $250,000 for 5% equity
- Result: $250,000 for 15% equity
- Shark: Kevin O’Leary
Tristen Ikaika is a one-man show. He makes rings out of recycled materials like spoons and forks and sells them in big online ‘drops,’ which are hyped up on social media. The rings represent his experiences, but they’ve become a hit with fans.
The sharks were impressed with his $525,000 year-to-date sales, especially because he only sold drops once a month. After being asked about furthering revenue, he shared that he wanted to create a core collection for his website that customers could buy any time, in addition to his limited-time drops.
Lori Greiner didn’t think it was an investable business, even though it was great for Tristen himself. She dropped out because of this. Daymond John was next. He would need too much of the company to make an investment, and it would be insulting. He decided to not make an offer at all.
Kevin O’Leary made an offer, though he stated that it was a risky deal. Regardless, he offered $250,000 for 50% equity, as well as insurance in case something happens to Tristen. The sharks were taken aback by the large equity ask in Kevin’s offer.
Before he could counter, Barbara Corcoran made an offer, too. She offered $250,000 for 20%, which prompted Kevin to lower his equity ask to 15%. Mark Cuban dropped out on the back of these offers.
After some deliberation, Tristen decided to go with Kevin’s offer, because he didn’t want to give up the extra equity. How is the company doing now? We’ll find out in our Tristen Ikaika update.
Unsurprisingly, it looks like the Tristen Ikaika brand is still thriving. Since
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