Sheen Moaleman and Keir Dillon told the sharks about their various losses. They lost $1.3 million from headphone sales at Apple and Best Buy, but they were able to receive the extra inventory from those retailers and then sell out. The previous year before their “Shark Tank” appearance, FRENDS had a target of $6 million in sales and only received about half that ($2.9 million). Moaleman and Dillon also shared how overall, the company has lost $9 million. But they were optimistic that their new product would make them a profit of $3 million the following year.
Kevin O’Leary was the first Shark out, with Shark-of-the-Week Ashton Kutcher following shortly after. Next to swim off were sharks Lori Greiner and Robert Herjavec. The final shark swimming was Mark Cuban, the “Shark Tank” star with the highest net worth. Cuban felt it was too much of a risk to hope their new product would turn things around sales-wise, and he stepped back from the deal as well. Moaleman and Dillon left the tank without a deal for FRENDS, but that was not the end of the company. According to the Shark Tank Blog, FRENDS earns approximately $8 million annually as of April 2023.
Post source: The List
#Happened #FRENDS #Shark #Tank
More From Shayari.Page