Shark Tank Season 12 Episode 2 Recap

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Shark Tank Season 12 Episode 2 Recap with Ed Jaffe, demo and presentation coach

Shark Tank Season 12 Episode 2 Recap with demo and presentation coach and Demo Solutions Founder, Ed Jaffe, is part of our pop culture series and underscores the importance of the pitch. You get one shot to make a deal, or it tanks.

Another week, another episode of Shark Tank. Let’s get into it. But first, a warning – this post contains spoilers. If you don’t want to know what happens, watch the episode, then come back here for my analysis.

The Sharks who appeared on this week’s Shark Tank: Barbara, Lori, Mr. Wonderful, Mark Cuban and guest shark Kendra Scott (of Kendra Scott)

The products that appeared on this week’s Shark Tank: Bootaybag, GoOats, Pooch Paper and Rumpl.

The product: Bootaybag

What is it: A monthly underwear subscription service for women

The ask: $500K for 5%

How many offers: 3

The result: $500K for 10% from Kendra Scott

How was it presented to the Sharks?

Ellie gave a simple description of the product – a monthly underwear subscription. Nothing particularly interesting about the mechanics of her pitch.

What worked during the demo?

Where it got interesting is when she started telling her story and making a personal connection with the Sharks. She built the business step-by-step without taking on money, which Cuban liked.

Where her story got to is that she started with $300 and turned it into $15M in sales. She very much buried the lede here!

What didn’t work during the demo?

She netted 5% off those topline sales. Oof.

She seemed a bit uncomfortable during the intial pitch.

Additional thoughts about the demo

Watching Mark Cuban blush while holding a g-string was amusing (and there’s a sentence I never thought I’d write).

This was another example of what happens with a big ask at the beginning.

The product: GoOats

What is it: Oatmeal in a ball

The ask: $150K for 10%

How many offers: 1

The result: $150K for 20%

Shark Tank Season 12 Episode 2 Product Go Oats
How Great is this Packaging?

How was it presented to the sharks?

It was a fun pitch – “here’s the problem with breakfast, here’s my solution.” It ended with Naheem (the founder) shoving everything off the table. And, of course, with a sample of the product.

What worked during the demo?

Comfortable presenter who had a story the Sharks liked (went from a busboy to a chef to starting a food business).

He had a strong product with interesting packaging (a box that can be heated). I was surprised they didn’t talk about the packaging more – that was pretty cool.

What didn’t work during the demo?

He got stuck in the “bad offer trap,” which wasn’t necessarily his fault. Barbara offered him 25%, and when he asked to hear other offers, she said no.

Additional thoughts about the demo?

After Barbara made him a bad offer, when he wasn’t allowed to shop around the offer (by Barbara) he tried to deflect by asking “who is your best friend here” to try to bring in someone else. Even though it didn’t work, it was a clever way to try to deflect what Barbara was trying to do.

The product: Pooch Paper

What is it: Paper to pick up dog poop that’s better for the environment than plastic bags

The ask: $250K for 12%

How many offers: 2 (both from Kevin – an equity offer and a royalty offer)

The deal: $250K for a $1 royalty in perpetuity

How was it presented to the sharks?

Tracy gave a description of her product (a paper poop bag), and picked up fake dog poop (play dough?)

What worked during the demo?

Strong open. “Let’s get down to business. Dogs poop. A lot.” She definitely got the Sharks attention.

She acknowledged that there were other eco friendly options on the market, but then discussed why hers was different.

She did a nice job deflecting Mr. Wonderful’s point about big dogs with mentioning that there’s a bigger SKU coming (then asked if he needs the product, which was a nice joke).

What didn’t work during the demo?

She almost seemed uncomfortable with the poop jokes, and the audience reacted by also getting a bit uncomfortable (notably Mr. Wonderful).

Additional thoughts about the demo

Tracy mentioned that she had been on Wall St before starting the business, and Mr. Wonderful kept calling her “Wall St. Tracy,” which was a bit condescending. I wonder if he’d do that to a male founder (I don’t think he would).

I also now feel bad about the poop bags I use for my dogs, even if they are marked as “earth friendly.” Thanks Shark Tank.

The product: PNuff Crunch

What is it: A healthy peanut puff (like Bamba or what pop chips make)

The ask: $300K for 10%

How many offers: 1

The result: $400K for 25% with Mark Cuban

How was it presented to the sharks?

Juan walked out in a lab coat that said “Dr. Juan,” talked about his food science background (has a PhD in food science). He then ripped off the lab coat and showed off his body as a former professional bodybuilder. Barbara and Kendra loved it.

What worked during the demo?

He was a great presenter, and the bodybuilder moves definitely helped.

Cuban happened to know and love the product, making it a lot easier to secure a deal from him.

What didn’t work during the demo?

Not much – he did a great job. He had the background in the space, built credibility, and waited until the end for to ask for money.

Additional thoughts about the demo

Barbara often does this with attractive men (basically drools over them) – she says things that, if was men talking about women, would be a bit gross. Her final comment of “I’ll give you $400K to come to my beach house for advice” would have been incredibly creepy if it were Kevin saying that to a woman.

Cuban said what they’ve been implying for years. “I’ve got a shitload of money, I only go for products I get excited about.” Juan’s response of “fuck it, let’s do it” was about as good as it gets.

Recap of the Shark Tank Season 12 Episode 2 Recap

We hope you found some of the lessons from Shark Tank, Season 12, Episode 2 useful. Share Shark Tank Season 12 Episode 2 Recap with your team and come back next week for a new analysis. And, of course, if you want to see how we can apply this framework to make your demos better, feel free to get in touch.

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