Oru Kayak is an Origami-based folding kayak that can be stored in a standard bedroom closet. It’s quite sturdy and lightweight. The total boat weight is only 26 ounces. There are just seams at the top of the boat.
The Oru Kayak is a great option for novice paddlers because it is both stable and long-lasting while also providing a pleasant paddling experience. They’d been out for nine months before making an appearance on Shark Tank, and now they ship worldwide.
They were able to sell 1,228 at $1.100 per, bringing in a total of $1 million. A boat in the similar price range that sold the best cost $1049.
The current estimated cost to construct is $505, but they believe it can be lowered to $300. They anticipate earning $4,000,000 in the coming year.
Business Name: Oru Kayak – Website Episode Data:
- Ardy Sobhani, Anton Willis, and Roberto Gutierrez are all successful businesspeople.
- Inquire $500,000 for a 12% stake.
- Fifth Season, Episode 528
- Here are some of the companies discussed:
- Kayak, Oru
- A Lovely Affair
- Maritime Services by Hargitt
- Cinnaholic \sCousins Headline Snack – Highlighted News
- Mark Cuban, the Sharks
- Marketer Daymond John
- It’s Kevin O’Leary, of course!
- The Investing Guru, Barbara Corcoran
- Dr. Robert Herjavec
- Premiere Date: May 9, 2014
- In the Money: Robert Herjavec A 25% stake in the company for $500,000.
How Do The Investors On “Shark Tank” Rate Oru Kayak?
Mark Cuban – who is not an outdoorsy type and has never been in a kayak – agrees that it is lovely. The guy got the boot.
The manufacturing process is a mystery, and Daymond John is hesitant to lend them the money because of it. It’s still too early, and he left already.
Kevin O’Leary – believes that the equipment costs make $500,000 insufficient. He doesn’t know how the numbers add up. The guy got the boot.
Barbara Corcoran – has two kayaks that she never uses, wants to buy a third one very badly, and is frustrated since she likes to have a hand in running her businesses but is at a loss for this one.
Away With Her!
Robert Herjavec – can’t figure out why people aren’t prepared to pay more for such a stunning vessel.
Robert insists he is a paying customer, having invested in a company where he felt he could do some good and in others just because he finds the idea intriguing.
Of course, Robert is still a Shark at heart. To lower the worth in half, he offers $500,000 for just 25%. They countered by offering 15% plus a voting position on the board.
His 25 percent cap is unmovable. Robert rejects a 20% increase in their offer. Soon after appearing on Shark Tank, they strike a contract with Robert Oru Kayak.
Oru Kayak anticipated the increase in demand that would follow their appearance on Shark Tank and thus increased production.
The company benefited greatly by appearing as a prize on The Price Is Right, a popular television game show.
They’ve raised $700,000 in venture funding and sold 7,000 kayaks, bringing in $3.8 million. After the show, it seems like Robert Herjavec is out of the contract.
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So, What Ended Up Happening With Oru Kayak’s Pitch On “Shark Tank”?
In order to get funding for merchandise, Anton, Robert, and Ardy decided to propose their idea on Shark Tank in episode 28 of Season 5 of Oru Kayak.
The three men, Anto, Robert, and Ardy, came to the Shark Tank looking for $500,000 in exchange for a 12% stake in their $4.2 million dollar business.
In their pitch to the Sharks, they emphasized the Oru Kayak’s suitability for novice paddlers due to its speed, durability, and interior comfort.
They announced that they had been shipping internationally for nine months prior to their appearance on Shark Tank. They made $1 million by selling 1,228 of them at $1,100 apiece.
The Most Widely Purchased Vessel Is $1049, Which Is Also Within This Price Range.
They estimate that they can cut the $505 annual building costs in half to $300. This year, they anticipate a four million dollar profit.
While Mark Cuban appreciates its beauty, he isn’t an outdoorsman and has never paddled a kayak. For some reason, he left the house.
It was unknown who made the product, but Daymond John wanted to make an offer. Not only is it too early, but he left as well.
Kevin O’Leary claims that the cost of the equipment makes $500,000 inadequate. He doesn’t know how well it’ll scale.
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He, Too, Made The Trip Outside.
Even though Barbara Corcoran has always wanted a kayak and enjoys being involved in her enterprises, she wasn’t sure what to do with her two unused kayaks.
In any case, she leaves. Robert Herjavec couldn’t figure out why customers weren’t prepared to pay more for the stunning vessel.
According To Robert, He Was Definitely A Customer;
he put money into a thriving business, and he does so in part because he thinks it’s cool.
Yet, Robert was still a Shark at heart. He proposes to invest $500,000 for a 25% stake in the business, thus halving the value of the company.
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In response, they put up $500,000 for a 15% interest and a board seat. Nonetheless, Robert Herjavec has firmly established the price of $500,000 for 25% equity shares.
They counter with $500,000 in exchange for 20% ownership, but Robert Herjavec repeatedly declines. After negotiating with Robert Herjavec, they left the pitch with a contract. What
