A Shark takes a bite out of Ramen Rapid Cooker on Shark Tank

Ramen soup with spring onionsShark Tank, now in its fifth season on ABC, has entrepreneurs pitch their business ideas to successful business people. On Friday, Christopher Johnson walked into Shark Tank asking for $300,000 for 15% equity in his Rapid Ramen Inc. company. He’ll need to convince Mark Cuban, Lori Grenier, Kevin O’Leary, Barbara Corcoran, and Robert Herjavec that the company is worthy of a Shark.

Johnson’s company developed and sells the Rapid Ramen Cooker, which is a microwavable tray that is supposed to make the noodles taste just as good as they do on the stove. The product is already selling like hot cakes in Wal-Mart.

With three Sharks out, Robert and Kevin made an offer that sparked Mark Cuban to come back in. Mark Cuban made an offer was a $150,000 loan and a purchase of 20 percent of the company for $150,000.

In the end, Johnson counter-offered Cuban 15 percent of the company for the same $150,000, and Cuban took it. Every company that acquires a Shark is set to be successful. If you or anyone you know has an invention idea and needs help, please contact us at New Product Consulting.

 


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