Shark Tank: Fish Fixe accepts $ 200,000 from Lori Greiner

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Many Americans are afraid of buying, handling, and cooking fresh fish and are looking for a better way to buy and prepare fish. Because seafood has major health benefits for our brain, heart, and skin, Emily Castro and Melissa Harrington are on a mission to deliver high quality, perfectly portioned frozen fish to every household in America. Their company, Fish Fixe, strives to reach the 80% of Americans who don’t know how to buy and prepare fish. Not only do they offer a selection of frozen fish, but Fish Fixe also provides packaging that describes the best way to prepare fish while also solving a common household problem – fish odor. Fish Fixe uses packaging that contains an odor absorber so that once the fish is prepared, the leftovers can be put back into the packaging and discarded without leaving any odors.

While the pandemic helped rapidly increase sales of Fish Fixe, it also created a distribution nightmare for Emily and Melissa. The pair came to the Shark Tank looking for an investment partner willing to invest $ 200,000 in the company in exchange for 15% equity. Beyond a financial investment, Fish Fixe needs to partner with a shark who can help them solve their distribution problems. Because their customer base has grown rapidly and they are shipping much more than ever before, they need to understand the logistics of shipping their seafood across the United States. Although they have a third party logistics company trying to help them with their shipping issue, they are hoping to work with a shark who has worked in this industry before and who can help them determine the best way forward for Fish. Fixed.

Since Kevin O’Leary has other food businesses, this fits his business profile well. He offers $ 200,000 to Fish Fixe but he wants to be a third partner at 33.3%. Unfortunately for Emily and Melissa, Kevin is the only shark interested in investing and they must therefore consider his offer very seriously. They try in vain to counter with Kevin who will only drop to 30% of equity. It will also not commit to cover purchase orders until it can reduce their customer acquisition costs. Although the other sharks try to convince Emily and Melissa to accept Kevin’s offer because they need help with their marketing strategy, product distribution, and financial health, one of the sharks is not. satisfied with Kevin’s demand for fairness to Fish Fixe. At the last minute, Lori Greiner steps in and offers Melissa and Emily $ 200,000 in exchange for 25% equity. She doesn’t want them to cede 30% to Kevin. They immediately accept his offer and officially team up with Lori Greiner.

What do you think of Lori’s quick flight from Fish Fixe to Kevin O’Leary? If you were a shark, would you have invested in Fish Fixe? Start the conversation in the comments below!

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