Jenny Lynn Williams steps into Shark Tank pitching her Snarky Teas. She is after one-hundred-fifty thousand dollars in exchange for twenty-five percent equity. The blends are all for women, but she does walk into the tank wearing a pink jacket with Mrs. Wonderful on the back.
Snarky Tea flavors pitched in Shark Tank
Company: Snarky Teas
Entrepreneur: Jenny Lynn Williams
Ask: 150,000 for 25% equity
Episode: Season 9 Episode 908
Sharks: Mark Cuban, Bethany Frankel, Kevin O'Leary, Lori Greiner, Robert Herjavec
Deal: Kevin O'Leary and Bethany Frankel $150,000 for 50% total
Eighty-Five percent of their sales are through their website. Fifteen percent is done retail through boutiques. They have done $190,000 in eight months. Customer acquisition is $11. Each tin costs $4.34 they sell for $12.99 a tin.
What the Sharks say about Snarky Tea
- Lori Greiner finds the cute and gimmicky labels are not long lasting, she is out.
- Robert Herjavec doesn't see people buying tins of tea online, so he is out.
- Mark Cuban talks about Amazon is creating their brands to compete, and Amazon is going to crush you. He is out.
- Kevin O'Leary wants to be a 50/50 partner for the $150,000 and wants to make it a part of his wedding packages
- Bethany Frankel is making the same offer for $150,000 for fifty percent.
She asks Bethany and Kevin to consider partnering. Kevin wants fifty percent so that they have twenty-five percent each. She counters him at forty-two percent and then goes to forty-nine percent. Mark Cuban is trying to talk her out of giving up fifty percent, but she makes a deal with Kevin and Bethany.