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.
The company has an expanded product line on their website and at Amazon. Check out their product offerings here.