In Shark Tank Season 9, producers were bringing on larger companies with truly innovative products that didn’t require any investment. They just wanted to see how the Sharks would react when a company didn’t need their money.
By 2018 when their episode aired, birddogs had already done over $20m in sales off the back of their innovative pants. They had developed the ability to make natural fibers stretch – something nobody has been able to replicate since. Prior to birddogs’ invention, athletic stretch pants were shiny, limiting the places you could wear them.
So birddogs is onstage, pitching the world’s first pair of pants that were more comfortable, fit better, and could be worn everywhere. Guys didn’t have to change anymore. As an early adopter of birddogs in 2020, they’re still the only pants I pull from my closet. Why? They are still the most comfortable pants I have. I can’t get this fit in non-stretch pants. And I don’t have to change anymore. This was then, and is now, a big deal.
Go back to their pitch. Birddogs’ opening offer was $250k for a 1% stake in the company. Note that the average Shark Tank opening offer is $150k for 25%. They didn’t want a deal! Mark Cuban FLIPPED when he finally saw a truly innovative product, and they had no interest in working with him. No wonder there’s bad blood.
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