Dramatic moment Shark Tank judge stormed off set
A bidding war over a “creepy” product during Shark Tank last night got so heated Steve Baxter ended up storming off set in anger.
Photographers Sandra and Brendon Moffatt sought $200,000 for a 20 per cent stake in their product, Stand in Baby, a lifelike newborn baby mannequin designed to help photographers pose newborn babies during shoots.
“There are heaps of mannequins available, but surprisingly, there were none that required you to support the head, or allowed you to practice realistic handling and positioning of a newborn,” Sandra told the Sharks.
“When you’re taking a photo a baby, you need to take several photos. That means you have to move them. We had to learn to move and reposition babies to get the optimal amount of photos we could.”
The couple said they have invested $220,000 of their own money into the business but recouped their money through strong sales. They pointed out the baby photography industry is second in size only to weddings.
Sandra and Brendon also said they plan to expand their business into the medical industry with sales to hospitals and universities for antenatal training.
“The possibility of this product is amazing,” Steve said, offering to meet their request of $200,000 for 20 per cent.
RedBalloon founder Naomi Simson pulled out, but investor Andrew Banks offered $200,000 for 25 per cent, Greencross founder Glen Richards offered $200,000 for 33 per cent, and Boost Juice founder Janine Allis offered $200,000 for 30 per cent.
After discussing the offers, Sandra and Brendon came back with a counter offer, asking whether Andrew would improve his offer by lowering his percentage stake, and partner with another Shark.
Andrew said he would be willing to partner with Glen to offer $200,000 for 20 per cent, each bringing in $100,000 each.
“Are you rejecting my offer?” a shocked Steve asked.
“You’ve got them down to 20 per cent and you’ve ignored me. Interesting negotiation tactic. I do know that I am the most qualified with respect to my medical investments, especially in the US. I’m the one who came out and gave you what you asked for without having to come back and beg.”
And to Steve’s disbelief, the couple went with Andrew and Glen’s offer.
After they left, the Sharks took the a chance to rub in the deal with a few pointed barbs, prompting Steve to declare, “F**k it”, and walk off set.
“I think this is the maddest I’ve seen Steve all season,” Naomi said. “I can’t believe it,” Andrew said. “Steve is pissed, get the beers out, we’ll all calm down,” Glen said.