Monday, 4 December 2017

Shark Tank: Modern Christmas Tree Accepts $100,000 Offer from Barbara Corcoran

Modern Christmas Tree

Last into the tank is Matt Bliss of Modern Christmas Tree, seeking $100,000 for 10 percent equity.

Modern Christmas Tree puts a contemporary twist on the classic artificial Christmas tree. “In addition to its unique design, The Modern Christmas Tree was built with function in mind,” according to their website. “Not only is the tree easy to setup and takedown, but it is the only artificial tree that is collapsible.” The trees, which range from $99 to $799, include a sparkling hanging tree that comes decorated with globes and chandelier crystals, a glittering wall tree and a festive table-top option.

This year, they are projected to do more than $380,000 in sales. The sharks worry that the hanging tree is a bit pricey at $799. Kevin O’Leary views it as a very premium, niche product.

Mark Cuban thinks it’s “beautiful” but worries about how the business would be scaled. He goes out, followed by Robert Herjavec. O’Leary then goes out. Lori Greiner agrees that it’s unique and visually appealing, but doesn’t like the price point. She goes out as well.

Barbara Corcoran also dislikes certain aspects, but offers $100,000 for 25 percent with a $5 royalty until her investment is repaid. She thinks it’s “fresh and different.” O’Leary then jumps in with the same offer as Corcoran, but for 20 percent. Corcoran then changes her offer to match O’Leary’s. She updates it again for 19 percent, but wants an answer immediately. He counters her at 15, which she then brings up to 18 percent. Bliss ultimately accepts Corcoran’s offer.

Social Media Reacts to Modern Christmas Tree’s Appearance on “Shark Tank”

Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging businesses to multi-millionaire and billionaire investors, known as sharks: Mark Cuban, owner of the Dallas Mavericks; Daymond John, fashion mogul and founder of FUBU; Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group; Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC; and Robert Herjavec, technology guru and founder/CEO of the Herjavec Group.

Philanthropist and Virgin Group founder Richard Branson, Spanx founder Sara Blakely, Skinnygirl Cocktails founder and Real Housewife Bethenny Frankel, Vitamin Water founder Rohan Oza and former MLB player Alex “A-Rod” Rodriguez are also slated to appear as guest sharks this season.

“Shark Tank,” which is based on “Dragons’ Den,” is produced by Mark Burnett and first debuted in 2009. To date, the sharks have invested more than $100 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Sunday at 9 p.m. on ABC.

Would you buy a Modern Christmas Tree? Sound off in the comments section below!

Source: B2C

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