Angellift is the unique way to solve an age-old problem. Aaron Bruce pitches Shark Tank seeking a half-million dollars in his company in exchange for ten percent equity.
Angellift intends to solve and age old problem
He developed Angellift to lift skin by wearing the form in the mouth. He claims the most challenging thing about Angellift is having women be quiet for a few minutes.
Angellift gives pressure inside the mouth to remove wrinkles around the mouth.
They did a test market they did three million dollars in sales
and profited $1.2 million and are still fulfilling orders from over six months previous at the time of the pitch.
The improvement is significant over 30 days. The Angellift sells for $49 and is patent pending with third-party clinical trials.
Aaron wants to stop sales while perfecting the product. Kevin wants to know why he is not continually upgrading while taking in cash.
Company: Angellift
Entrepreneur: Aaron Bruce
Website
Ask: $500k for 10% equity
Companies in this episode: The Bouqs Company, Hangease, and Susty Party
Season: Season 5 Episode 527
Sharks: Mark Cuban, Barbara Corcoran, Kevin O'Leary, Lori Greiner, Robert Herjavec
First Aired: 05/02/2014
Deal:
What do the Shark Tank Investors say about Angellift
- Mark Cuban tells him he is talking out of the side of his mouth. You pull a product that is selling three million, and you have over a million in profit. Something doesn't add up. Mark doesn't trust that he is in for the right reasons, so he is out.
- Lori Greiner thinks he has a QVC product. She also believes it is an infomercial product. Lori's concerned because QVC loved it, and he did nothing about it. She doesn't think that $500,000 for 10% is enough. Lori does make an offer requiring that he gives proof of patent, clinical trials, and the revenues that Angellift. She offers $500,000, but she wants 25% equity. He counters at 15% of the company for $500,000. The $500,000 would solely be used to fund the purchase orders that come from QVC.
- Kevin O'Leary says you come into the Shark Tank with a ton of cash, why wouldn't you keep selling while upgrading? Kevin says it is evil when something is selling, and you stop doing it; he is out.
- Barbara Corcoran thinks the packaging doesn't demonstrate what it does and she thinks it is going to cost too much to market, so she is out.
- Robert Herjavec finds the story doesn't add up; he has more guts then he does, and Robert doesn't understand the need, his money doesn't go there, he is out.
Angellift after Shark Tank
Angellift is selling through their website, but not on Amazon. Lori Greiner has not commented on the status of the Angellift deal which leads me to believe this did not happen. Maybe Angellift is still perfecting their product?
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