Insta-Fire comes in a pouch, pour it out, light it, and you have the fire. They pitch their product in Shark Tank Season 7. This Fire-Starter will float on water and stay lit.
Insta-Fire lights up with Mark Cuban and Lori Greiner
They did not market Insta-Fire until the last year and are getting the business into Home Depot and other stores.
Entrepreneur: Konel Banner and Frank Weston
From: Riverdale, Utah
Ask: $300,000 for 10% equity
Companies in this episode: Custard Stand, PRxPerformance, Rags to Raches
Season: Season 7 Episode 719
Sharks: Mark Cuban, Daymond John, Kevin O'Leary, Lori Greiner, Robert Herjavec
First Aired: 02/21/2016
Deal: Mark Cuban and Lori Greiner for $300,000 for 30% of the company.
What do the Shark Tank Investors say about Insta-Fire
- Mark Cuban partners up with Lori with Mark doing the online, and Lori doing the retail. They offer $300,000 for 33%. They counter Mark at 20% for Mark and Lori.
- Daymond John offers $300,000 for 20% equity and 1/3 of the online sales. Daymond drops it down to 17.5% ownership and 25% for the online.
- Kevin O'Leary makes an offer at $300,000 for 33.3 percent.
- Lori Greiner goes in on the deal with Mark Cuban, for $300,000 for 1/3 of the company. Lori offers 30% for $300,000. They do the deal with Mark and Lori
- Robert Herjavec thinks a three-million dollar evaluation for ten percent makes it difficult to get a return on the money.
Insta-Fire after Shark Tank
Mark Cuban and Lori Greiner closed the deal with Insta-Fire's Konel Banner and Frank Weston. They helped them land deals at Walmart, Target, Home Depot, Ace, True Value, Gander, Meijers, Lowes and more.
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