|SEASON 8 EPISODE 15|
|Pitch||Lightweight collapsible shopping cart and other storage products|
|Asked For||$350,000 for 5%|
|Deal||$350,000 for 15% + $2 million financing at 15% interest|
|Shark||Mark Cuban and Lori Greiner|
What is Dbest Products?
Dbest Products is in the business of providing convenience to customers by helping them move and store their personal effects effortlessly. It does this with its patented carts, dollies, carriers, and coolers. The Smart Cart stands testament to Dbest’s innovative success. Dbest has been making customers’ lives easier since 1998.
Who Owns Dbest Products?
Richard Elden, the owner of Dbest Products, moved from London in the UK to California with his mother at nine years old. He attended the University of Southern California, where he achieved a Bachelor of Science in communications. He also earned a Master of Business Administration degree from Pepperdine University.
Elden the “cart guy” introduced Dbest Products to America with the launch of the original collapsible “Quik Cart.” His tenacious, entrepreneurial passion added to California’s decision to ban single-use plastic bags culminated in Elden’s rising success.
Since large retailers in California couldn’t use plastic bags, the demand for collapsible hand carts like those offered by dBest Products increased. The plastic bag ban suits Dbest Products’ business goals of protecting the environment and reducing its carbon footprint.
Dbest Products’ popularity and success in America would allow the company to expand and offer its carts of maneuverable convenience to an international market. Dbest now sells its products to customers in 30 countries.
Elden found he needed more money to fulfill the ever-increasing orders demanded by customers and wanted to get a partner on board to finance the inventory. That’s when he decided it was time to turn to Shark Tank.