Last into the tank is Trunkster, zipperless luggage, seeking $ 1.4 million for five percent equity.
Their luggage allows easy access with a roll-up door and USB ports for easy charging. The cost starts at $ 325 and they have raised over $ 1.5 million. They have pre-sold over $ 2 million worth of luggage.
Lori Greiner finds it a clever product and they all acknowledge their gargantuan valuation. The sharks question whether they can be more flexible with their valuation, which they are willing to be.
Barbara Corcoran is the only shark to be open about not liking the luggage for its masculinity, weight, hard shell and lack of feedback. She goes out.
Why not license this technology to the big players in the luggage industry? #SharkTank.
— Novafan23 (@Novafan23) December 5, 2015
Robert Herjavec offers 30 percent for the risk involved, which O’Leary wants to partner on. Herjavec declines. O’Leary then offers 37 percent instead.
Greiner can see the growth and expansion of the product but worries about losing money. For that reason she offers the $ 1.4 million to fund purchase orders, in addition to 15 percent equity. Mark Cuban is willing to partner with Greiner.
They counter back a royalty of $ 1 per unit until the money is paid back with the original offer of $ 1.4 million for five percent.
— In With The Sharks (@inwiththesharks) December 5, 2015
Final deal: Mark Cuban and Lori Greiner for $ 1.4 million for five percent with $ 1 royalty until the money is returned in full.