Top 3 Pitches From Young Entrepreneurs — Shark Tank US — Shark Tank Global

[00:00:00] Speaker 1: Next into The Tank is a family business with the goal of motivating kids. [00:00:18] Amanda: Hi Sharks, I'm Amanda. [00:00:20] Hamza: And I'm Hamza, and these are our three little ones. We're the family from Shelton, Connecticut, behind Kudo Bands. [00:00:25] Amanda: We're seeking $150,000 for a 10% equity stake in our company, Sharks. Every day around the world, parents struggle with the same parenting challenges, like potty training, tantrums, and bedtime routines. [00:00:39] Hamza: To help, parents have used the sticker chart method for decades. It's a great go-to parenting tool that works. It helps track the kids' progress and really motivates them to listen. The problem with sticker charts is they're always stuck at home. [00:00:53] Amanda: Let's go to the park. That's why we've invented Kudo Bands. A better sticker chart for your child's wrist. Now here's how-- [00:01:03] Mikhail: Wait, wait, wait, Mom and Dad. We got this. It's time the kids explained it. [00:01:08] Hamza: Are you sure? [00:01:09] Mikhail: Yeah, come on. We've grown up on this show. All right, guys. You're right. You got this. [00:01:14] Speaker ?: But where are we going? [00:01:15] Mikhail: Uh, where are they going? [00:01:16] Speaker 5: I hate to make children cry. Hopefully they don't make you cry. I'm ready. Oh. [00:01:22] Mikhail: Hi, Sharks. I'm Mikhail. I'm Leon. And this is Sophia. Hi. Hi. So here's how Kudo Bands works. Kudo Bands starts with a storybook where kids learn that listening is fun. At the end of the story, they get a cool band to wear and earn kudos for good listening. Now, Sophia already made her bed this morning and ate lunch without whining. Uh-huh. So she's already earned herself two kudos. Third kudo you earn is a magical kudo. Hey, Mom and Dad, let's give Sophia her third kudo. Sure. It comes to life with the Kudo Bands app, and it's super cool. Look. Wow. So cool. That is cool. And it locks a customizable wheel where kids get rewarded for good behavior, and kids pick their own rewards, like reading an extra book at bedtime, or our favorite family dance party. [00:02:18] Speaker 6: Look at that. Wow, look at that. Still can't see that. [00:02:24] Mikhail: Kids love kudo bands because it's fun, exciting, and interactive. [00:02:29] Amanda: And parents love kudo bands because they finally have a parenting tool they can use wherever they are. [00:02:34] Hamza: So, Sharks, who wants to join our worldwide mission to make parenting easier? [00:02:38] Mikhail: We have samples for each of you. Our starter kit, plus a special sharkudo just for you. For Matt, we chose the lemon shark for its curious and resilient nature. Thank you. [00:02:49] Hamza: And for Lori, we chose the poor Jackson shark because they're unique, fearless risk-takers. Thank you. You're welcome. And for Kevin, we chose the great white shark because they're powerful and widely feared. Absolutely. [00:03:00] Amanda: For Damon, we chose the tiger shark for its fashionable stripes and go for the power broke mentality when it comes to its dinner. [00:03:07] Mikhail: And finally, for you, Mark, we chose the bull shark. Yeah. For its ability to adapt and be successful in anything. That's what I'm talking about. Salt or fresh water. I got it on. That's where I'm gonna get it off. There you go. [00:03:19] Speaker 7: How old are you guys? I'm 11. [00:03:21] Mikhail: I'm 9. And I'm 6. [00:03:23] Speaker 8: So in my bag, I got three bands. And then I have a bunch of-- there's a total of six different charms? Yes. Yep. Mm-hmm. So are there specific charms for specific chores? [00:03:34] Hamza: Actually not. So there's a whole different collection of charms you can get. So parents will give the charms to the kids and they'll select, as if done good listening, each charm. The third charm always is that magical charm that mom and dad puts on the kid's bracelet that comes to life. Do those change? [00:03:49] Speaker 8: Do you keep changing that or do they stay the same rewards? [00:03:53] Mikhail: It's customizable. So you can add on different rewards based on different goals you have. [00:03:57] Hamza: So tell us a little bit about, you know, what inspired you to create the product. Definitely. I came home one day from work and Amanda said I had a moment with Mikhail. He came home and told me that I'm not a good listener. And she was like, you know, I think it's our parenting. You know, all these time outs and negative. He's drawing attention to that negative focus. Then she said, you know what? I'm going to make a product that's going to help other moms and dads across America and the world. [00:04:17] Mikhail: We did a soft launch mid-year in 2017 to really learn our market and the new category we were creating. Our big debut was at the 2018 New York Toy Fair where we met a lot of retailers. So far, our sales are $80,000. Mikhail, where do you go to college? [00:04:34] Speaker 5: $80,000 in sales is not a business yet. So let's talk about the strategy for distribution. [00:04:41] Hamza: We actually are selling it all across the U.S. But you're doing it online, right? We're doing it online on our website. We're in Amazon. What do you sell it to them for? [00:04:48] Speaker 5: What does it cost you to make it? [00:04:49] Hamza: Yeah, the starter kit comes at $29.95, which includes the hardcover storybook. Right. We're talking to Bye Bye Baby. We met them at the New York Toy Fair. So yeah, we've got a great plan and it's not a hobby. We're all in on this business. Absolutely. I actually resigned from my hedge fund job about two years ago to jump into entrepreneurship. Amanda grew a firm. She's a successful entrepreneur with 20 cent investment and took it all the way to a million dollars. Another company. [00:05:12] Speaker 8: 20 cent investment. 20 cent investment. [00:05:14] Amanda: 20 cents to a million dollars. To a million dollars. And we have one of the most successful companies on Etsy. We are the top. Go ahead, you can tell. [00:05:21] Mikhail: We're the top 1% of the 1% of the 30% in the entire Etsy. Wow. [00:05:26] Speaker 9: I think you've achieved the most important thing in life, which is raise a wonderful family. I understand rewards and token systems. I know how many there are out there. Yeah. And I'm just not comfortable that it's differentiated enough to be a big business. So for that reason, I'm out. Thank you. Appreciate your time. We understand. [00:05:43] Speaker 8: Thanks. I'm currently working on a book that I feel might be a conflict of interest. We're sorry. For now though, I'm sorry. I'm out. [00:05:50] Speaker 10: And I had a company that I invested in in season two called Flip Outs. And the company was creating bands for, not for the same thing, but very hard to have longevity in the kids wanting to wear the bands. It kind of wears out after a while. So with that, I'm out. [00:06:09] Speaker 11: Thank you, Damon. [00:06:10] Speaker 5: The fact that you have all these awards is tempting. But you're not worth a million and a half dollars. Nobody beats you up about valuation and kids. This is important. I'm going to take a kudos from you. That's all right. No taking kudos away. $150,000 for 10% is a $1.5 million valuation. That's a lot of money for something that isn't making any money yet. [00:06:28] Mikhail: Our margins are huge though. We make the starter kit and potty kit for $4.98 and we sell it for $29.95. Here's your problem. [00:06:37] Speaker 5: With $80,000 in sales, you want a valuation of $1.5 million. There's no investor going to do that until there's more proof of concept. And you're going to have to give up some inordinate percentage of your company to just get the $150 in it. [00:06:49] Mikhail: But our valuation is fair. It is fair. [00:06:52] Speaker 5: No, it isn't. I love this kid. [00:06:54] Speaker 9: He is fair. He's got you speechless. I understand. And he's stumped. He can't sit there. It's very hard for me to do. [00:07:00] Mikhail: Our assets are very good. We have IP patents. Keep going. [00:07:04] Speaker 5: Many patents. I love this kid. I love him. You want to take my share? I can give you some reasons why it's not fair. Kevin, all he's missing is a big snout. [00:07:11] Speaker 10: He's a little you. [00:07:12] Speaker 5: Look, I just think it's too early. I can't go down the path with you. I'm out. [00:07:19] Speaker 7: Thank you, Kevin, for your time. We really appreciate it. Guys, congratulations on what you've accomplished. The challenge I'm having is not whether you'll be successful, right? You guys are going to grind it out no matter what. But sometimes that road can be difficult. But we're ready for it. [00:07:34] Amanda: We are ready for this, Mark. You cannot find a more power-packed team than us. I'm telling you. Sometimes you've got to listen. We work so hard. You've clearly never met my parents. They're amazing. [00:07:43] Speaker 7: I just did. I have no doubt they're amazing. You're amazing. But part of being a great entrepreneur is listening, okay? You've got some immediate challenges. And you haven't really had the sell-through. This is what Kevin was referring to. I don't think you're quite there. You have some adjustments to make. So for those reasons, I'm out. But congratulations on what you've accomplished, guys. Thank you, guys. [00:08:06] Speaker 10: Thank you. I really like the way that you stood up for yourself. You're doing better than most adults to pitch here. You're going to be a future shark. So congratulations. Amazing. [00:08:15] Hamza: Thank you. Thank you, guys. [00:08:17] Amanda: All right, thank you. [00:08:18] Hamza: Appreciate it. [00:08:19] Amanda: Thank you for the time. We're trying to take this negative and turn it into a giant positive. In a way, it's a gift that they gave us. Because now we're out there to prove ourselves. And better believe it that this team right here is going to do that. I'm so proud of you guys. [00:08:32] Hamza: I'm so proud of you guys. [00:08:33] Mikhail: You know, I'm so proud of these kids right here. I'm so proud of you. Yeah. We took on the tank. And you know, they're going to regret this. They're definitely going to regret this. We're going to regret it. [00:08:45] Speaker ?: We're going to regret it. We're going to regret it. We're going to regret it. We're going to regret it. We're going to regret it. We're going to regret it. We're going to regret it. We're going to regret it. We're going to regret it. We're going to regret it. [00:08:54] Speaker 1: We're going to regret it. We're going to regret it. We're going to regret it. We're going to regret it. We're going to regret it. We're going to regret it. We're going to regret it. [00:09:01] Speaker 7: We're going to regret it. [00:09:02] Speaker ?: We're going to regret it. We're going to regret it. We're going to regret it. We're going to regret it. And we're going to regret it. [00:09:07] Speaker 12: Hi, Sharks. My name is Carson Kropfel. I'm an 11-year-old inventor, skater, and surfer. This is my friend, Sierra. Hi, Sharks. Hi, Sierra. [00:09:19] Speaker 13: Hi, Sierra. I'm his mom, Carrie. And we're from San Clemente, California. [00:09:24] Speaker 12: I am seeking $60,000 for 15% of my company. You just saw my first invention. It's called street tubes. It lets riot surf anywhere, anytime, because it looks and feels like you're totally going to regret it. It feels like you're totally getting tubed. My second invention was when I first started middle school, and it was the first time I ever had a locker. My locker was decked out and awesome, but none of my skateboards would fit in it. So I decided, what the heck? Why not just make one of my own? [00:09:51] Speaker 13: This is a locker board. Locker boards are handmade and reshaped from recycled skateboard decks. At only 16 inches long, they fit easily inside of backpacks and lockers. And they're good for the planet. Thanks, Mom. Let's pass out some samples. [00:10:08] Speaker 14: Robert, get on the board. Get on the board. Thank you. Great. Thank you. Oh, Carson, love the hair. Thanks. Very cool. Thank you, Sharks. [00:10:18] Speaker 13: Bye. [00:10:19] Speaker 7: Bye. Good job, Sierra. [00:10:21] Speaker 13: Bye, Cece. [00:10:22] Speaker 12: Great job. [00:10:23] Speaker 7: Oh, that's cool. [00:10:24] Speaker 12: Sharks, the benefit of you investing in my company is that you'll be a part of something that has been inspiring people all over the world. I've been surfing with sharks since I was five years old. So go ahead. Hit me with some questions. [00:10:39] Speaker 15: All right. Normally, a skateboard's this big, is it? [00:10:42] Speaker ?: Or-- [00:10:42] Speaker 15: Yes. Is this the first time anyone's ever cut it down to size? [00:10:45] Speaker 13: It's the only skateboard that fits inside a backpack. [00:10:48] Speaker 15: But I've seen small ones before. [00:10:50] Speaker 14: What's unique about it? [00:10:52] Speaker 12: Uh, they're good for the planet, easy to take anywhere, and they're super fun to ride. And also, the square shape lets you still do tricks 'cause of the corners, and your feet can stay on it, and it won't be too wobbly. [00:11:03] Speaker 10: Where are you getting the old boards from? [00:11:05] Speaker 12: Uh, Vans Skateboards has a monthly recycling program for me at two of their skate parks, and I get about 50 boards a month from them. [00:11:12] Speaker 10: And they give them to you, or right now you're buying them? [00:11:15] Speaker 12: Uh, give them to me. [00:11:16] Speaker 10: Are you selling any today? [00:11:17] Speaker 12: For nine months, I have been selling all over the country. How are you selling it across the country? [00:11:22] Speaker 14: Online? [00:11:23] Speaker 12: Social media. [00:11:24] Speaker 13: Really? He's made $10,000 in revenue since, uh, he started. So, Sierra, your girlfriend? No! [00:11:32] Speaker 6: What kind of look is that? Wow. [00:11:37] Speaker 15: What would you do with the money if somebody puts it up? [00:11:40] Speaker 12: Manufacturing, upgrading my website, buying, uh, trucks and wheels, hardware in bulk. [00:11:47] Speaker 10: How many skateboards have you sold? [00:11:49] Speaker 12: I have sold 231. What does it cost you to make one? So the deck cost me $3, but now Vans put me in touch with their manufacturer, Madrid Skateboards. So that cost $13, and I'm now selling them for $52. Wholesale? Wow. Wholesale. [00:12:06] Speaker 14: Wholesale. [00:12:07] Speaker 12: Retail, what's the price? [00:12:08] Speaker 13: Um, $99. [00:12:09] Speaker 14: Where do you make it now? [00:12:10] Speaker 13: My husband set up a shop for him, and he's been making them in the backyard. [00:12:14] Speaker 15: I mean, I remember when I started in business, my headmaster called me into the study and said, "Look, you either leave school and you run your business, or you stay at school and you don't run your business." I was 15, I said, "Okay, I'm off." I dropped out of high school when I was 16, so I waited an extra year. [00:12:27] Speaker 8: Did you really drop out of school at 16? [00:12:29] Speaker 7: Yeah, I was a high school dropout. Did you go to college? Yeah, I was 16, dropped out of high school, started taking graduate-level classes, and got my MBA by the time I was 19, transferred those back to high school so I could graduate from high school. [00:12:40] Speaker 8: I'm curious, Richard, what was your first business? [00:12:43] Speaker 15: The first sort of, um, was to start a magazine to campaign against the Vietnamese war that was going on, so it became a national magazine for young people, and that was my education. But, look, this is great, uh, but you're gonna stay at school, so you're gonna have to learn to delegate, because too many people think they can do it all themselves. [00:13:01] Speaker 7: So, Carson, you said that you had gotten some help to make these 'cause you can't make 'em anymore. What's your deal with them? [00:13:06] Speaker 12: Uh, Madrid Skateboards, and they are manufacturing my boards, doing everything, and then I just put the trucks and wheels on. [00:13:14] Speaker 14: How do I know there isn't a Carson in New Jersey doing the same thing? [00:13:17] Speaker 12: The main reason skaters buy product is from brand loyalty. When they--so when they go to buy a locker board, they're gonna want a locker board, not some fake. Two, they're really hard to make. You have to have all the right equipment, all the right hardware. And three, I'm in patent-pending status. You kill it, Carson. [00:13:33] Speaker 7: Fan! Drop the mic! [00:13:35] Speaker 8: Fan! That's the stuff! Listen, you're amazing, but I'm not going to invest in the company. I'm out. Thank you. [00:13:45] Speaker 7: Carson, where do you want to be a year from now, two years from now, five years from now? [00:13:49] Speaker 12: I want to be everywhere. [00:13:54] Speaker 7: That's a lot of places. He sounds like one of us. [00:13:58] Speaker 13: What's been amazing, online's great because he has much higher profit margins, but he'd also like to be in retailers because it does give him a lot of credibility. Right now, he's in a Southern California retailer, Jack's or Ford's. He's in two of their stores. [00:14:12] Speaker 10: You know, here's what I think. You know, I would not invest in your company now because I think that you have so much growth. And giving up 15 or 20% of your company right now is absolutely absurd. You have a lot of room to grow, and I think you'll do it without us. So I'm out. [00:14:27] Speaker ?: Okay. [00:14:28] Speaker 7: Carson, I love what you're doing. I want to make you an offer, okay? I'll give you the $60,000, but I want 20%. And my plan is not just to help you manufacture, because you have a major to do that. That part's all taken care of. Yes. But to really help you build up your YouTube, help you build up your Instagram. So if you want to be my partner, I'm happy to make the investment. [00:14:49] Speaker 13: Wow. [00:14:50] Speaker 7: What do you think? [00:14:51] Speaker 15: Before he answers, I was going to suggest that you and I work together on it. Nope. No, no. All right. So what do you think? You and I work together. [00:15:03] Speaker ?: Oh, I know. [00:15:04] Speaker 15: If he's not going to work with me, I'll make you an offer. I'll offer you $65,000 for 20%. [00:15:12] Speaker 13: For 20%. So, Carson, I'm-- [00:15:14] Speaker 14: Robert. I love things that are cool and fun. I really don't think you should sell any of your business at this point, because it's just too soon. I don't want any of the equity. What I'll do is I'll give you the $60,000 as a loan. What interest rate, Robert? Whatever back rate is. Okay, 8%, give or take. [00:15:31] Speaker 7: Right? I'm offering $60,000 for 20%. Wow. And Sir Richard Branson is offering $65,000 for 20%. And we're going to help-- What would you like to do? [00:15:45] Speaker 12: Uh, Richard, if you're going to invest, how would you help my company? [00:15:50] Speaker 7: Oh, you're going to interview him. I like that. I like it. You've got guts, Carson. Wow. [00:15:59] Speaker 15: When you said you wanted to do everything, I remember I had this magazine, and somebody wanted to buy it. Went to lunch to sell the company. So I said, I'm going to start student airlines. I'm going to start, you know, student record shots, student this. And they got completely panicked. And so, when you said you wanted to do everything, I remembered that moment when I wanted to do everything. Let me be honest, I see a young Richard Branson in you. You've got a wonderful story to tell. You're very articulate. The product itself is great. We'd love you to give it a shot with us. [00:16:35] Speaker 12: It's a deal. [00:16:39] Speaker 6: All right, let's have a go. [00:16:40] Speaker 12: Yeah. [00:16:41] Speaker 15: Great, thank you. Thank you so much. Thank you. Great, thank you. [00:16:45] Speaker 14: Good job, Carson. [00:16:46] Speaker 15: Good job, Carson. [00:16:47] Speaker 8: Thank you. Congrats. [00:16:49] Speaker ?: Thank you so much. Yes. [00:16:51] Speaker 8: Wow. You know, wanting to do everything, that really hits home, I think, with all of us. [00:16:56] Speaker 14: It's contradictory to, of course, what everyone's told. I mean, think about when we started the show nine years ago. That's the biggest change as I go around the country. Yeah. Half the people that come up to me are kids. I love the kids. [00:17:07] Speaker ?: Yeah. [00:17:08] Speaker 12: I chose Richard Branson because he would help me the most. Internationally. Internationally. Yeah. And, uh, also he had the highest offer. And I felt like, whew, make a little bit more. [00:17:20] Speaker 11: Oh, my goodness. I can't believe that I'm doing this. Chick was social anxiety about to go talk to a couple billion or millionaires. [00:17:29] Speaker 1: First in the tank is a stylish and functional accessory. [00:17:38] Speaker ?: Hi. I'm Sophie Overton. I'm from Bentonville, Arkansas, and I'm seeking $30,000 for 15% equity in my company. Sharks, I'm 13 years old. [00:17:47] Speaker 16: And even though I'm still in the eighth grade, I have a PhD in sockology. Heck, I know more about thread counts than I do about the periodic table. I created a sock for kids, made by this kid, to make life easier for whatever we're doing. Introducing Wise Pocket Products, an innovative line of socks and leggings, with pockets of them. Big enough for kids' most important items, like your phone, so you don't have to worry about the life-threatening event of missing a call or text from your mom anymore. And I know what you're probably thinking. There's got to be tons of socks like this. Well, I created a patent-pending sock design for kids to safely stick their important items into our sock pockets. So if you're playing soccer, rock climbing, or, you know, spontaneously breaking out into dance with your friends, Wise Pocket Products has you covered. [00:18:48] Speaker 8: Whoa. [00:18:55] Speaker 10: Nice. [00:18:56] Speaker ?: Whoa. Whoa. Love you guys. [00:18:59] Speaker 10: Nice. Are you alive? [00:19:01] Speaker ?: Just like my Zumba class. I just want to let you guys know, you're all going to have arthritis when you get old. [00:19:07] Speaker 8: So, as you can see, Sharks, even after all that, our design sock pockets will keep your important items in without falling out. [00:19:20] Speaker 5: And the best part is, for every pair of socks that we sell, we donate a pair of socks to kids in need. [00:19:25] Speaker 16: Sharks, I know I'm young, but give me five years, and I hope I'll be sitting in one of those chairs. So tell me, who's wise enough to join me in getting Wise Pocket Products to kids everywhere? Thank you for letting me tell you about Wise. And thanks, guys. [00:19:50] Speaker 10: Good job, guys. Great. All right, good job. Excellent, excellent, excellent. Thank you. [00:19:55] Speaker 17: You're going to show us some, Sophie, in person here? Yeah, sure. Here you go, you can take three. [00:20:03] Speaker 8: Thank you. You did great. [00:20:06] Speaker 17: Thank you. [00:20:07] Speaker 8: Thank you. Thank you, Sophie. [00:20:09] Speaker 17: Nice colors though, huh? [00:20:11] Speaker 8: Thanks, Sophie. Thank you. Tell us about you, how you got into this business. [00:20:17] Speaker 16: Well, I got into this business when I was 11, and my cousin put her phone in her boot because, you know, kids in women's clothing don't have pockets. So I tried it too, and it was really uncomfortable because it slipped down to my ankle, and I couldn't reach it, and it was just all in all a bad idea. And so I asked around my school to see if other kids had this problem, and they did. And so I came up with my prototype where I cut off the top of another sock and stuck it inside the sock. That's cool. And I sewed it up the sides, and voila. [00:20:55] Speaker 17: How did you get your money for the business? [00:20:57] Speaker 16: I save everything that I earn, and I-- [00:21:00] Speaker 17: How much money did you actually put in to make your socks? [00:21:03] Speaker 16: I invested $10,000 of my own money. $10,000? Wow. [00:21:08] Speaker 17: I think your parents overpaid you for your job. [00:21:10] Speaker 16: Yeah. No, I had saved $5,000, and I earned $5,000 more through business pitches and competitions. Nice. Oh, wow. [00:21:18] Speaker 5: Good for you. [00:21:20] Speaker 16: Have you been watching "Shark Tank" very long? Since I was like six years old. Oh, my God. [00:21:24] Speaker 5: Yeah, make us feel old. [00:21:25] Speaker 16: You know, I'd stand up in the living room and say, "I'm going to be on "Shark Tank." This has been my goal since before I even had the idea for the business. [00:21:31] Speaker 5: Have you sold any of these yet? Yes. How much? [00:21:35] Speaker 16: A little under $16,000 in sales. Sophie, let me just tell you. [00:21:37] Speaker 7: You're a perfect example of what every kidpreneur should do, right? You got a job. You saved up some money. You did all the prototypes yourself. Then you made actual products. Then you sold those products $16,000 worth of products. Now, the only question is, did you sell those products profitably? Tell us what it cost you to make a sock and what you're selling them for. [00:22:01] Speaker 16: To make the sock, it's $5.47. Because that's expensive. Yes, it's because of the process to make the double welt for my pocket. What do you sell them for? $15 retail and $11 wholesale. [00:22:14] Speaker 5: What do you want with the $30,000, Sophia? What are you going to do with it? [00:22:18] Speaker 16: Well, my main goal is to streamline the production. Because right now, I'm only able to produce around 100 units per month. Per month? [00:22:27] Speaker 5: Yes. [00:22:28] Speaker 16: That's horrible. [00:22:29] Speaker 8: So, there's other things out there on the market that hold in socks. They have pockets, right? I do have competition. [00:22:37] Speaker 16: Although, my competitors only have small pockets for keys and stuff. [00:22:43] Speaker 5: Well, Sophia, look, I love what you're doing. And it's wonderful to see this at such a young age. But I don't want a sock company in my portfolio. So, I'm out. [00:22:51] Speaker 16: Thank you. [00:22:53] Speaker 7: Sophia, I think it's a great idea. I'm going to get some for my kids. For me, though, it's not a great fit as an investment simply because this isn't my strength. I couldn't tell you about thread counts, you know. But, I mean, congratulations. You should be so proud. But it's not a fit for me. So, for those reasons, I'm out. [00:23:11] Speaker 16: Thank you very much. Congrats, though, Sophie. [00:23:13] Speaker 8: Do you feel that you want to be running a business right now? Or is it a little stressful when you're going to school and all of that? [00:23:24] Speaker 16: I mean, going into high school is stressful on its own. But with the Wise Pocket product, it's kind of a boost for me. I feel a confidence boost. Like, if I can own a business, then I can go through school and turn in that essay. Good for you, Sophie. Thank you. [00:23:40] Speaker 8: You're already out there hustling, thinking, creating, doing it yourself. So, you've got everything that it takes to really be a great entrepreneur. And Damon and I want to help you. He does quite a bit in the sock arena. And he would like to do an offer with me. [00:24:01] Speaker 10: I started off with Bombers. They were doing $800,000. And they were donating to people. And they donated over 10 million pairs of socks. And they're doing $120 million now. And the donation is way more important to them than the money. Yeah. So, what do you think, Lori? [00:24:17] Speaker 8: We'll do the $30,000. We'll be a third partner. Our goal is to try to find somebody to license it. And then, when we get to that point, we'll figure out what the licensing deal is. [00:24:33] Speaker 5: Do you want to take the $30,000 and give up one-third of your company? You've got to make a decision, yes or no. [00:24:39] Speaker 16: You are right, Mr. Wonderful. It's a lot of my company. I'd like to make a counteroffer. [00:24:49] Speaker 5: Yeah, Sophie. Okay, let's share it. [00:24:51] Speaker 16: Um, $35,000 for 25%. Wow. [00:24:58] Speaker 7: Ooh. [00:24:59] Speaker ?: Ooh. Wow. [00:25:01] Speaker 7: Wow. Sophie's got negotiating skills. [00:25:03] Speaker 10: So, you're going up. She's got a little switchblade in her sock on that one, huh? Oh. [00:25:08] Speaker 8: 25%. We will take that offer. Thank you so much. [00:25:18] Speaker 16: Yay. [00:25:19] Speaker 10: Oh, my God. Yay. We're in the sock business again. Yes. [00:25:23] Speaker 16: High five. Thank you. Thank you so much. I'm so proud of you. I'm so impressed by you. [00:25:28] Speaker 7: Wow. Congratulations, Sophie. [00:25:30] Speaker 16: Well done. [00:25:31] Speaker ?: Thank you. [00:25:32] Speaker 16: I'm very overwhelmed. And I'm really excited that I got a deal with Lauren Damon. And I'm just, I'm in heaven. I mean, I'm so excited.