Next into the tank is Boston-native company is Lovepop seeking $ 300,000 for 10 percent equity.
The unique greeting cards are not only festive but are also magical. The cards include intricate 3D pop-up elements that are handmade.
— Shark Tank (@ABCSharkTank) December 12, 2015
Kevin O’Leary wonders why they cost so little, given that they are a “work of art.” They want them to remain accessible and currently have over 100 designs. However, their kiosk-to-online selling design doesn’t excite the sharks.
Barbara Corcoran goes out for the kiosk aspect, as does Lori Greiner because of their valuation. The real estate risk worries Mark Cuban so he goes out.
O’Leary cites his background in artisan items, especially in the wedding market. However, he still worries that the cards are sold for too low of a price.
Robert Herjavec likes the cards and offers $ 300,000 for 20 percent, which O’Leary offers to partner on. Herjavec refuses, which causes O’Leary to make the same deal.
— Kendra Kroll (@PortaPocketGal) December 12, 2015
With two differing perspectives, the3y still have equity woes, so Herjavec and O’Leary lower their ask to 15 percent. They ultimately accept O’Leary’s offer.
Final deal: Kevin O’Leary for $ 300,000 for 15 percent.