Last into the tank are Jake Sullivan and Don Wildman of Hand Out Gloves, seeking a $150,000 investment and $150,000 as a loan for 20 percent equity.

Key Highlights:

  • Hand Out Gloves, presented by Jake Sullivan and Don Wildman, pitched on “Shark Tank” seeking $300,000 in investment and loans.
  • The product is an innovative glove with waterproof zippers for easy hand access and ventilation, catering to outdoor activities.
  • Wildman, with substantial wealth from Bally’s Total Fitness, co-presents the glove that has already achieved significant sales.
  • Despite skepticism from the sharks about market saturation, Barbara Corcoran revises her offer, leading to an acceptance from Hand Out Gloves.
  • “Shark Tank” is a platform where entrepreneurs present to investors like Mark Cuban and Lori Greiner, with over $87 million invested to date.

Hand Out Gloves offers a fresh and upgraded version of traditional gloves and mittens. As stated on their site, Hand Out Gloves merges “tough, breathable, waterproof gloves and mittens with smartly-placed waterproof zippers so you can quickly free your hands for any task you need to handle.

Or just to leave open for ventilation when boot packing or in the backcountry.” They offer lightweight, sport and pro gloves and mittens, in addition to accessories such as hoodies and beanies.

Wildman, founder of Bally’s Total Fitness, is worth approximately a billion dollars. Their gloves have a five-finger dexterity and so far have sold more than $100,000 this year.

Regionally, in Salt Lake City, they sold $15,000 in their first year. They have patents pending on the waterproof zipper and elastic strap that keeps the upper part of the glove out of the way when the fingers are out.

Barbara Corcoran believes they are missing something, but offers half the money for 12.5 percent equity, contingent on getting another shark in on the deal. Making the possibility of accepting Corcoran’s offer more difficult, Robert Herjavec, Mark Cuban and Kevin O’Leary then go out.

Lori Greiner worries that the space is too crowded and goes out, which causes Corcoran to update her offer to $300,000 as a line of credit for 25 percent equity, in addition to Wildman providing $300,000 as capital. They accept.

The Shark Tank Experience

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:

  1. Mark Cuban, owner of the Dallas Mavericks;
  2. Daymond John, fashion mogul and founder of FUBU;
  3. Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group;
  4. Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC;
  5. Robert Herjavec, technology guru and founder/CEO of the Herjavec Group.
  6. 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.

Social Media Reacts to Hand Out Gloves’ Appearance on “Shark Tank”

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