‘Shark Tank’ Entrepreneur Who Got Away [Video]
My guilty TV pleasure?
No, my TV pleasure is five arrogant multi-millionaire and billionaire investors who look to get richer and squash dreams. My favorite TV show is ABC’s “Shark Tank.”
I have talked about this before, and still to this day, the biggest jerk ever on the show was James Martin.
He invented Copa Di Vino, a pre-filled cup with wine and a cap device to keep the wine fresh after opening. He was in the tank twice. Both times he walked out without a deal, and the Sharks shaking their heads in disbelief.
This story from ABC News (leading up to a sweeps special about one of the net’s only–and cheapest–hits) tells the real story. “The Multi-Million Dollar Product That Got Away From ‘Shark Tank'”
“Martin’s Oregon-based and family-owned winery struggled for years before making a profit. When the opportunity arose to appear on the second season of ‘Shark Tank,’ Martin jumped at the possibility for potential investors and additional expertise.
“At that point we had just started the company and we’re desperately in need of some cash,” Martin told ABC News. “We thought it was a perfect fit for the show and we were really excited to do it.”
Martin asked for $600,000 in exchange for 30 percent of his business.
Kevin O’Leary expressed interest, but wanted Martin to separate the patent for the container from the process of bottling the wine. Martin wouldn’t budge, telling O’Leary the wine glass was the “special sauce.”
The situation was tense in the shark tank after Martin walked out on the offers and brushed off their advice, Shark Barbara Corcoran told ABC News.
“He was arrogant, he didn’t listen,” Corcoran said. “Everyone was giving him good suggestions. He just dismissed it as though he was talking to no one. He made every shark hate him within minutes.”
However, within minutes after his episode aired, Martin said his phone wouldn’t stop ringing with people pitching him with offers to invest in his company.
The producers invited him back, and for a second time he walked and the Sharks couldn’t believe his arrogance. Maybe because he reminded them .. of themselves?
I love that show, and now they are airing reruns on CNBC Tuesday nights. Yay cable!