Lollacup Shark Tank Tale: Weighted Straw Cup

In Season 3 Episode 12, Mark and Hanna Lim appeared on Shark Tank seeking $100,000 for 15% of their weighted straw sippy cup, the Lollacup.

Here’s a quick recap before we dive into the Lollacup Shark Tank update.

Shark Tank Pitch Recap

• : He likes the product but he wants them to consider offshore outsourcing in order to get their cost of goods below $2.
  Offer: $100K for a 50% equity stake
• : He has been an investor in the baby section and got his hiney kicked. He believes that in order to make money in the baby industry, you have to go the general distribution route.
• : He’s going to match Kevin’s offer but he also wants them to get rid of their sales agent.
  Offer: $100K for a 50% equity stake
• : He believes they valued the business wrong and he asks them to revise their offer.
• Mark and Hanna make Robert a new offer.
  Revised Offer: $100K for 40%
• : He jumps in accepts the entrepreneurs’ revised offer before Robert could get a word in edgewise.
  Out
• Out of respect for Robert, Mark and Hanna request for time to consider the offers.
• : He makes a counter offer before Robert or Mark gets a chance to respond.
  Offer: $100K for a 30% equity stake
• The Lims propose that Mark and Robert go into the deal together.
• Feeling neglected by the Lims’ focus on the other Sharks, Daymond goes out.
• Mark and Robert join in the deal and accept the Lims’ offer of $100K for 40% – a $250,000 valuation for Lollacup.