Shark Tank: Thompson Tee Accepts $700,000 Offer from Robert Herjavec

Thompson Tee

First into the tank are Billy Thompson and Randy Choi of Thompson Tee, seeking $700,000 for seven percent equity.

Thompson Tee offers a solution to awkward sweat stains by providing shirts with sweat-proof technology. According to their website, their “mission is to provide a safe, affordable and convenient solution to excessive underarm sweat and open a dialogue around hyperhidrosis so others don’t have to close themselves off to the world or constantly agonize over the appearance of sweat stains.” Shirts range in price from $24.99 to $29.99 for original and slim fits.

Kevin O’Leary calls it an “armpit diaper” and Robert Herjavec worries it would only be for people who have excessive sweat problems. Growing steadily over the years, they have done $2.6 million in sales to date.

Mark Cuban sees them as more of a marketing company and Herjavec finds their valuation too high. O’Leary sees it as a simple t-shirt and goes out, followed by Daymond John, who finds the inventory issue too complicated. Cuban doesn’t believe they’re in the right business and goes out. Herjavec likes the idea and offers $700,000 for 25 percent. Lori Greiner, despite liking the product, then goes out for having too many concerns.

O’Leary then jumps back in and offers $700,000 as a loan at 18 percent interest for seven percent equity. Ultimately, they accept Herjavec’s offer without countering.

Social Media Reacts to Thompson Tee’s Appearance on “Shark Tank”

I would buy that @thompson_tee #tshirt!#SharkTank

— In With The Sharks (@inwiththesharks) May 6, 2017

@ABCSharkTank @Thompson_Tee Great idea and great entrepreneurs. They are passionate about business as they cried at the end. #SharkTank

— Alain T. (@AlainTJ) May 6, 2017

I think I might need to order a @Thompson_Tee … uh… for a… friend. #SharkTank #GotSweat

— David G. Johnson (@TheDavidJohnson) May 6, 2017

Thompson Tee, interesting idea, not sure how it would hold up to people that sweat a lot. #SharkTank

— Lance Becvar (@Dadsonpowermode) May 6, 2017

@ABCSharkTank @Thompson_Tee I think its genius!!! I would buy one or two or ……

— Kelly Dorsey Napier (@YiaYia_3) May 6, 2017

Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging business to six 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. Venture capitalist Chris Sacca is also slated to appear as a guest shark 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 $87 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Friday at 9 p.m. on ABC.

Would you buy a Thompson Tee? Sound off in the comments section below!

Source: B2C