Shark Tank Global - Kevin O'Leary Loves Pop It Pal! | Shark Tank US | Shark Tank Global
The entrepreneurs present Popet Pal, a pimple-popping simulator designed to satisfy the obsession with pimple popping without the negative side effects. They seek $250,000 for 10% equity. The product has sold $315,000 in four months, primarily online, with a cost of $8.32 per unit and a retail price of $9.99. They aim to reduce production costs by working with overseas suppliers. The product gained popularity through viral videos, achieving 30 million views in three weeks. The entrepreneurs have backgrounds in automotive, nursing, and marketing, and they hold a utility patent pending in the US. Kevin O'Leary offers a deal involving a royalty structure and 5% equity, which the entrepreneurs accept over Mark Cuban's offer of 25% equity.
Key Points:
- Popet Pal is a pimple-popping simulator designed to mimic the satisfaction of popping pimples without the negative effects.
- The product sold $315,000 in four months, driven by viral marketing with 30 million views in three weeks.
- Current production cost is $8.32 per unit, with plans to reduce it to $5 by partnering with overseas suppliers.
- Kevin O'Leary offers a deal with a $1.50 per unit royalty until $750,000 is recouped, plus 5% equity, which is accepted.
- The entrepreneurs have a utility patent pending and aim to expand their product line and market reach.