In the latest episode of shark tank, we saw Michelle Jimenez and Lori Greiner closing a deal of nail-biting challenge. Only the latter was showing interest in the melt-in-mouth food item and left the audience shocked with his negotiation while risking it all.
How did Michelle grab the deal for Pizza Cupcake with Lori Greiner on the Shark Tank show?
In the new episode of shark tank, we saw the couple and co-founders Michelle Jimenez and Andrea Meggiato set foot in the tank for acquiring a $1,25,000 deal for a stake of 10 percent in The Pizza Cupcakes venture.
The couple explained the success story of their frozen food and how it turns into a bite-size appetizer that one can enjoy anytime and anywhere they want because of its size. Andrea Meggiato made a statement that the sharks might have not eaten anything like their pizza cupcakes with their special melt-in-mouth texture. When the time came for tasting the cupcakes sharks explained that they were amazing just after the first bite.
But this was not enough for Daymond John, Kevin O’Leary, Mark Cuban, and Robert Herjavec to invest in the brand. They gave an explanation for this comment saying that frozen food has heavy competition with the existing brand in the sector.
However, Lori Greiner surprised everyone with her interest and made a deal with the brand. She increased her investment amount from $1,25,000 to $1,50,000 that is an additional $25,000 and doubled the stake of what Michelle and Andrea offered. Michelle how had such a strong sales and marketing background refused to give such a huge stake and risked securing a better deal even though he had no other offers.
She replaced the initial offer with another one, but Lori wasn’t ready to budge. After some discussion, she came up with another counteroffer of $1,50,000 for a 12.5% stake. Lori decided to meet midways with her final offer of $1,50,000 for a 15% stake. But after the offer when shark showed no sign of budging, Michelle tried one last time and asked if she would be okay with $1,50,000 for a 12.5 % stake in the company and 2.5% advisory shares. The shark immediately accepted the offer and closed the deal.