Shark Tank season 14 episode 7: Internet divided over Lori Greiner making a deal with Legacy Shave founder Mike Gutow - Sportskeeda

Shark Tank play 14 aired episode 7 connected Friday, featuring Legacy Shave laminitis Mike Gutow winning hearts with his backstory.

Mike’s concern Legacy Shave was the past transportation connected Shark Tank play 14 occurrence 7. His presumption included a backstory of however his precocious begetter was the crushed helium and his member started the business. Shark Mark Cuban gave a lasting ovation to Mike’s presentation, portion Kevin O’Leary was teary-eyed during the pitch.

However, nary of the sharks were consenting to connection a deal, but for Lori Greiner. But she went for royalties, which near fans wondering whether she took an vantage of Mike with the offer.

However, immoderate fans were blessed that astatine slightest Lori gave a woody to the Legacy Shave founder.

Shark Tank fans had mixed reactions to Lori’s offer

After each the sharks were out, Lori Greiner decided to connection a woody to Legacy Shave laminitis Mike Gutow. He came into the vessel with an connection of $3,00,000 for a 10% equity.

He and Lori went done a fewer counteroffers, but Mike decided to instrumentality with Lori’s archetypal offer, which was “$700K + a royalty of 3% of nett income successful perpetuity for 95% of the company.”

As the institution had a deeper meaning to Mike and his brother, helium decided to clasp connected to the 5% of the business.

Shark Tank fans had a mixed absorption to Lori’s connection arsenic immoderate felt she took vantage of Mike and scammed him. However, immoderate felt that the shark did a bully happening to connection Mike a deal.

Take a look astatine fans’ reactions:

Mike mentioned that Legacy Shave has products for men and women. It besides provides travel-size products, and isolated from shaving cream, the institution besides sells country fresheners, sunscreen spray, and galore more.

The laminitis went into the vessel to question monetary and selling help. Mike and his household person invested astir $4,00,000 but person not yet made immoderate profits. Their past year’s income were $96,000.

After his pitch, the sheet of sharks, including Barbara Corcoran, Mark Cuban, Kevin O’Leary, Lori Greiner, and Robert Herjavec, were acceptable to springiness their verdict.

Barbara pointed retired that Mike was not a bully communicator and that helium should not person told his investors that helium was retired of money. For those reasons, she was out. Mark, too, didn’t connection a deal, citing the aforesaid reason.

Kevin mentioned that it was a situation to bring successful wealth to a shaving concern arsenic determination were galore competitors. He and Kevin besides backed out, leaving the shot successful Lori’s court.

Lori gave Mike a royalty deal, which helium happily took.

What was Legacy Shave’s backstory?

Legacy Shave laminitis Mike revealed that helium and his member had the concern thought 20 years ago. Along with their father, the household decided to commencement the business, but couldn’t find investors and faced galore obstacles.

A fewer years ago, Mike’s begetter passed distant owed to cancer. When helium and his member went to their father’s basement, they saw 3,000 prototypes of their product, and a enactment from their dada saying that they got lone 1 shot. So, the member started the concern erstwhile again.

Although they didn’t nett thing and were retired of money, they didn't stop. For monetary help, Mike decided to look connected Shark Tank. His communicative melted the sharks’ hearts, leaving astir of them teary-eyed.

Viewers tin ticker the latest occurrence connected Hulu connected Saturday. Shark Tank play 14 airs caller episodes connected Fridays astatine 8.00 PM ET connected ABC.