Start-up Sharks B Shark C Shark D

Hello Sharks. My name is A, co-founder of

IncrEDIBLE Eats and I’m from Planet Earth.
I’m here to share 7% of equity of our
incredible company for five hundred
thousand dollars ($500.000).
Sharks, across the world a staggering amount
of people are eating their food with single-use
plastic utensils.
But why do we use something just for few
minutes if it's gonna take hundreds of years to
decompose?
Sharks, that's the moment on the lips, but a
lifetime in a landfill.
That's why we came up with incrEDBILE Woww Wowww Wowww
cutlery, the world's first mass
manufacturable, totally edible utensils.
Well sharks, now you may eat your spoon, eat
your straw, eat your spork and even eat your
chopsticks.
Need i say more?
My question is not who wants to invest in us
but who would like to join us, to save the
planet one straw or one spoon at a time.
Okay, Sharks, please try all our cutlery in
different flavors with different types of food
Yeah. So each spoon stays firm for up to 20
minutes in hot soups, like a hot food and
about an hour in an ice cream.
So they're pretty stable enough for you to eat
with it and then eat it after.
Thank you
Chopsticks about 15 calories
What are we eating here? Who cares? I’m gonna eat a A, how long does it take for it
spork. to decompose?
This is very good
How many calories per
chopstick?
I had one spoon here and it Then we have here what is this
was fantastic. It was like a one?
spicy pizza
Yeah, …flavored bread, tomato
spicy. I would actually want to
buy and eat these… not even as
utensil.
Then this one was in ice cream,
and this one has a vanilla
flavor and it tastes like a waffle
 cone.
So this is delicious.
That's a straw. And what's the flavor?

It's actually flavorless. So you are concerned about the

flavor of these inaddition to
their functionality.

So our concept is to keep them subtle, Right What does it cost for you to
because our initial first year of our sales is make it, and what are you
completely focused on food service, because selling it for?
that's where the heaviest usage of plastic is,
and they wanted it to be very subtle not too
overbearing because they don't want to
change the food you eat with.

About 20 cents to buy the spoon. What cost differential would it

And our cost of goods is 10 cents. be between very large volume
of plastic spoons versus this
edible spoon?
Yes, a plastic spoon trends around one to two But what would it cost me if I
cents per spoon. didn't want to upsell as a large
But our product has a capability to make ice cream company i bought a
additional profits to the company. hundred million of these.
Let's say, for example, a very large ice cream What's my delta? What's my
chain ordered 100 million spoons. difference in price?
If they upsell it to the consumer for 5 cents,
they make five million profit and we also
make profits.
So we started 35 cents. We already brought it That's pricey, I think.
down to 20 cents. We're gonna bring it down But have you sold anything
to 15 cents. yet?

I sold 1.2 million spoons so far, 2 to 2 enough What's that in dollars?

(1/2?) years. (má câu này chưa nghe dc)

About 170 thousand dollars ($170.000) That's it ?

And where are you selling
them?
Yeah, so 2019, we’re just completely You don't know when you see There's a lot of work there. It’s
completely B2B food service, because that's this that it is edible. cheaper. Oh wait a minute. If
where most of the plastic is. Nobody knows that till you tell you were creative, you would
And we're going great. them so there's a fair amount know that you can impression
We had amazing traction. And then the covid of education that's gonna have an imprint into the spoon…
hit and that was given opportunity for us, to happen. And going to the
because we could explore B2C and direct to side of scale here, when you
consumer. I spent two weekends, read six
books, designed my own packaging, designed
my own website.
Yeah. So this is my dream to be here. I’m an
immigrant from India, and i still work, and
i've been hustling this from like 7p.m to 2 a.m
talk about 100 million pieces,
and i'm the ice cream,
whatever it is, the B2B play,
business-to-business.
I’m going to have to ask myself
“do I want to pay 2 cents for
the plastic, or do i want to pay
10 times more for this and then
educate everybody that not
only can you eat the ice cream
you can eat the spoon that you
scooped it with ice cream.
Right… and into every piece
that says. “Eat me” But do I
want to pay 20 times more,
whether it has that sign “Eat
me” on it or not?
A, you seem so excited to be
here today.
Yeah, You should be.
every single day for the past two. And a half
years and i feel so proud that i reduced or
replaced one million plastic utensils, and…
um
I found the purpose of my life. That's what Okay, let's go back to money,
makes me more happy. There's hundred because that's a serious chunk
million plastic utensils disposed of every of change. I’d really love to
single day. And with our patent and IP, our know your background. I love
company’s gonna change the planet in the all this stuff about, you know,
way people eat their food. how wonderful it is, but i want
to find out if I can make any
money.
You will love it more after learning about me. Money, money, money, money.

I will come back to money. Your masters was in uh?

B, it's very important. I know money is most
valuable
So, okay, so B, I was born in India, and and
my dad taught me the value of content and
happiness, and he said “Happiness is here,
not here”. So I came to the US for my master's
and then i graduated. I started working in a
technology company in the bay area.
Ectrical engineering
I decided i have to take care of this, because
my my kids future is at stake.
It's not about me.
Like, yes, money is nice. Money is good to
have.
But imagine one ice cream chain or one
restaurant chain changing this to edible
cutlery and making money. It's gonna
revolutionize the entire world.
Right.
Your enthusiasm is so
absolutely delicious, but I feel
that you're blinded by your
own enthusiasm
I think you're asking a lot of a
restaurant to go into the
spoon-selling business, as well,
and to take their maybe 1 cents
or even half-cent cost of their
spoon and up it to 20 cents a
spoon.
And so I think you have a lot of
challenges there that are
against the norm and super-
creative, which I commend you
for. But I’m not sure they're
practical enough to fly.
I mean, to me the the idea is A, I disagree with C on that
 brilliant and I love engineers.
And I'm sure your journey got
you to where you are because
you're passionate. I believe all
that but I am, choking on this
7.1 million valuation.
I like you but there's no way on
earth. You said you were from
the planet earth. So am I.
Your deal's for the planet
Zootron. That's the problem.
Makes no sense. I’ll give you
the 500 thousand dollars. I
want 35% of the company.
That's about the right deal.
So, D, I’ve not spent anything on marketing. I
have a huge capability of making it
viral because it's such interesting product. I
just spent two years to make the best product
point, and let me tell you why.
That passion is exactly what's
gonna make you succeed.
The reason why I’m struggling
is, you know, you have not
proven that this really cool
concept is scalable to the point
that Mr.C says. But you've
imputed a valuation that's
proven that it's scalable. The
gap between your vision and
your expectations from us as
investors is way too, way, way
too high. I have to evaluate it
not as a dream, but as a
business with 170 000 in
lifetime sales.
It's not worth 7.1 million
dollars.
I think you're gonna win. But
I'm not gonna come in as an
investor at this valuation.
that there is.
I really wish you can think again
put a barcode on it and sell it individually
Yes you're thinking too small
you've got this game changer
type product that made me ask
myself why didn't I think of
that because it makes perfect
sense the brilliance of what
you're doing beyond the
product is that every single
online and in real world brick
and mortar company is always
looking for upsells that are
relevant to the product that's
being sold underneath it so if
you buy a salad if you buy ice
cream if you buy whatever at a
grocery store you're right next
to the prepackaged foods and
there it is want to save the
planet.
You just upsell it right so i'm
going to make you an offer that
 it's going to take a lot of my
time there's a lot of expense
involved from my end right so
i'll offer you the 500 000 but i
want 20 percent.
I like my offer better.
uh thanks for the offer,

D is saying you're not seeing it Im not saying don't do one or

big enough, I think D's not the other I'm just saying your
seeing it big enough. I see that path to least resistance in
it could be in groceries it could which to help you.
be upsell I think it's a fantastic
product as it is. So I see it in
grocery everywhere right next
to the plastic utensils but with
revamped packaging that just
screams. “I'm delicious eat me
save the planet”
But I also think that you could
be doing food service. I think
you can be doing it all.
 You just need…
You just need the right shark in
which to help you blitz the
market and I'm that shark so
here's what I'm going to offer
you.
I'm going to give you 500 000
for 15 percent.
15? 15. So you now have three offers to You got mark 20 which is a
consider in shark tank so discount offer you've got the
you've done a good job full value. C offer at 35 percent
pitching. and then you've got B at 15.
What do you want to do?
Thank you You are so deliciously adorable
and delicious adorable I'm
going to go ahead and come
back in. I didn't want to offend
you with a lowball offer.
oh it's a feeding frenzy I will do it for 25%
wow what do you want to do

uh am i allowed to counter yeah of course you can do


Would any one of you do 12 percent for 500
000
So B you have a deal now. So thank you thank
you so much.
whatever you want.
sorry you just don't know what
we'll do
no
You're gonna have to make a
decision. You've got three
offers still what do you want to
do now's the time let's hear it.
A, I gave you the closest i'm
wondering why, you're not
taking it?
So smart and it's delicious