Next is Texas-native Doug Foreman of Biem, seeking $500,000 for five percent equity.

Key Takeaways: Biem Butter Sprayer on Shark Tank

  • Product: A sprayer that turns butter into a sprayable format for cooking and more.
  • Investment Ask: $500,000 for 5% equity.
  • Shark Response: Lori Greiner secured the deal at $500,000 for 14% equity.
  • Latest Update: Biem has increased production and is now featured in more retail outlets, driven by strong consumer demand.

What Exactly Is Biem?

Biem puts a twist on your typical sprayer.

The device turns any stick of butter into a spray, which can be used to butter toast, popcorn, muffin pans, grilled cheese and more. According to their website, Biem uses no chemical or artificial propellants, just heat and air, and it also only melts the amount of butter you need. Butter is about to get much butter. The standard device costs $129, while the gift pack version costs $159.

Their Kickstarter campaign raised more than $235,000 by 1,700 backers.

How Did the Shark Take the Company’s Pitch?

The sharks like that there is nothing else like it on the market and that the cooking accessories industry has a lot of potential. Foreman is projecting $10 million in revenue next year.

Daymond John doesn’t like the valuation but offers $500,000 for 17.5 percent.

Lori Greiner wonders if it’s ever had any problems, which he explains there were with the prototypes, however, John presses him for an answer. Kevin O’Leary then jumps in and offers $500,000 for 15 percent, which John matches. Robert Herjavec then questions if there’s anything that could yield a cheaper model, then Greiner proposes a luxury model. He says he could remove the stainless steel shell to make it cheaper and more lightweight.

She offers $600,000 for 20 percent, followed by Herjavec at $500,000 for 10 percent.

John then warns that offers could start disappearing if he doesn’t accept and acknowledge one specific offer. He gets impatient and takes his offer off the table. He then says he hoped to get a deal wit Mark Cuban, which causes Herjavec to go out. Cuban, however, does not make an offer.

Foreman counters Greiner at $500,000 for 15 percent, O’Leary’s offer. She then drops the equity to 14 percent, to differentiate the offer from O’Leary’s.

He ultimately accepts Greiner’s offer.

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

Closing Thoughts

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;
  • 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 use the Biem sprayer? Sound off in the comments section below!

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