next into the tank is a solution to a growing environmental problem hi sharks my name's Emma and my name is Miles we're offering 5% of our company final straw for $625,000 oo woo sharks maybe you've noticed that our oceans are filling up with plastic trash much of that trash is made of a seemingly harmless item the plastic straw straws may not seem like a big deal to you but they're one of the top items littering our beaches and some of the more sensitive ocean creatures are pissed what is this place Shark Tank sharks oh please
oh you think sharks are scary I'm more freaked out by the 500 million straws we use every day in the US yeah it's a big number to get your head around here's what it looks like every second sharks this is 5,700 straws this is how many straws we use every second in the US wow plastic straws are going out of style they're getting banned in cities and countries around the world we thought there had to be a better way to design the drinking straw so we did this is final straw final straw is the world's
first reusable collapsible straw it folds up and fits in a case the size of a car key and is small enough to go on your keychain or in your pocket the anti-plastic straw movement is growing rapidly and we are at the Forefront sharks the mermaids need our help so who wants to help us stelf responsibly we have samples we have samples let's go bye bye mermaid very cute we've got the Healy Coral we've got shark butt gray for you shark but and then you get the Arctic melt blue and this is our succulent green succulent
greens so where did you get all these straws from a lot of these straws right these are all used straws wow we've got an artist in Malibu who's working on an installation to show the impacts of single-use plastic straws and she's been collecting them from restaurants she turns it to our she it's pretty clear that this is a massive movement you may have all seen there were some scientists doing research on Turtles and they found a turtle and they noticed something in its nostril and found that it was a f length straw stuck up this
turtle's nose oh what's your backgrounds um so I just finished up my masters at Harvard in Environmental Management and sustainability and while I was getting my masters I was working at Los alos National Laboratory in waste minimization oh you had some just Bobble just fell off a truck you know what you're doing what's your background my background is I was working on the straw we had a mutual friend this mutual friend and said hey you need to call my friend Emma because she's the straw girl she hates plastic straws so I called Emma up and
learned about her background and that she had given a tedex talk on plastic straws how much does this cost to make $5 what do you sell it for 20 20 20 oh too expensive it's expensive you came in asking for $625,000 for 5% now typically no one comes in with that kind of ask unless they have some kind of sales to back we we've definitely sold a few so far so we launched this company two months ago on Kickstarter we ran our Kickstarter for 30 days and raised 1.89 million so have you shipped anything so
the kickstarter will fulfill in November and since we launched our Kickstarter we started doing pre-sales on our website and have done $115,000 a day in sales really guys the world's largest coffee chain does 2 billion straws a year yes now they've started to investigate using paper it increases their cost by and a half times and they're in hot liquid they get very soggy at the bottom so first of all paper straws though they won't end up in a turtle's nose like that it's still single use you still have to use a ton of energy a
ton of water ABS you know what no you're spot on about that I love the mission here but there's really dozens and dozens of straws out there to do what yours is doing yours I think is clever and good but you haven't sold them and gotten them into people's hands yet I like a product to be in hand and know that it's really working I'm sorry I'm out thank you thanks Lor thanks Lori you're not really a company yet you're a mission with a product the only way this works for an investor is to structure
a deal where they get their Capital back on a scheduled way thought you'd say that yes he would say that cuz that's the only way it's going to work there's so much risk here's an offer for you I'll do the 625 I want 10% but I want a royalty of $2 a straw because you can afford it until I've got back 1.8 million so I I got a return on my money okay we have a great Mission this problem needs to be solved I mean and and seeing these straws just it makes me sick this
is one count to what worries me though is changing consumer Behavior it's just am I going to carry another box of my pocket it's not just carrying it before that you've got to educate them and then get them to buy it yeah so for that I'm out thank you Jamie so I love your cause and you are the straw Whisperer it sounds like but you know listen you're talking about $20 straws and you know we're talking about 1% of the market would buy this at $20 the rest are sold in commercial use this isn't for
commercial use this is for right but that's my point I think that's your biggest challenge here that 95% of the market are really just trying to get straws and not increase their cost of living and that few will go to this and you're not going to be able to scale as big big as I think you can for this valuation so I'm out we appreciate that here's the thing about $20 straws people spend $20 at Starbucks they spend it going out on a Saturday night and what people say on our reviews is oh my gosh
I'm going to save my money to get this straw because it's really important to them look as you speak sharks are dropping out now on Shark Tank when you have an offer and the other options start to go away the shark that made you the offer starts to feel very frisky you got an offer here you guys like Kevin's offer um so Kevin we want a partner we want someone who's going to be you know be in there with us we can't be bleeding the company out of money right at the beginning get when I
invest in a company do you think I go against them no absolutely not look at all you want some you want somebody be in there with you for 5% well so we'd be interested in you know entertaining offers at higher percentages okay I'll help you out I'll help you out Emma finish I'll help you out I'm out a good luck look I have lots of concerns competition and knockoffs first and foremost I'll make you an offer but it's going to be a Sharky offer I'll give you the 625 but I want 25% of the company
because I think you have a lot of question marks in terms of the business side the finances side the online side You' seem to done pretty well well and I think to the marketing you know what is so cool about our product is people's passion behind it don't talk your way out no I'm not going to talk my way out of it so Mark we really appreciate your offer you know a the valuation gave us is $2 million and we've already done more than that in sales in 2 months so what we'd like to offer
you is $625,000 for 12.5% no thank you I'm [Music] out okay thank you thank you all the best guys good luck
