Guard Llama made its approach onto “Shark Tank” season 8, episode 21 in 2017, with a literal llama on a leash, which initially delighted the Sharks. Based mostly out of Chicago, Illinois, Joseph Parisi and Nick Nevarez jumped into their pitch. They shortly defined why they have been looking for $100,000 for a 5% stake within the firm, placing the entire firm valuation at $2 million.
Described as a “private safety platform,” the machine the duo offered can be generally often known as a medical alert system. Whereas the invention has been round because the Nineteen Seventies, the machine has sometimes been perceived as most helpful for individuals with disabilities or older adults. Parisi and Nevarez defined that their product was extra alluring to the youthful era, with many gross sales coming through actual property brokers and faculty college students.
Sadly for the duo, it appeared as if the Sharks have been extra within the llama on set than the precise product. Whereas Guard Llama had thought of some enhancements, like an emergency pin and GPS monitoring, Sharks like Mark Cuban raised considerations about potential legal responsibility. Between the app, the bodily machine, and the potential to lose the GPS sign, too many conceivable points uncovered the corporate to litigation.
Ultimately, all however Kevin O’Leary and Barbara Corcoran would drop out of negotiations. O’Leary provided $100,000 for a $5 royalty per subscription till $120,000 was paid and 5% fairness. Barbara Corcoran provided $100,000 for 20% and $2 on each sale, which the duo would ultimately negotiate to 18%. The episode ends with the seemingly new enterprise companions shaking arms.