Shark Tank aired a special episode on Tuesday night, and it ended with a dramatic twist. The owners of evREwares, making products such as ‘sticky ties,’ a reusable party accessory, agreed to sell their business to Mark Cuban for $200,000.
The entrepreneurs, sisters Becca Nelson and Ellie Brown, were looking for an equity investment. They did not anticipate selling the company outright, and when they accepted Cuban’s offer, there were tears in the sisters’ eyes.
Nelson and Brown had just endured a brutal time in the Shark Tank as their potential investors unpacked all aspects of their business. When Nelson and Brown left momentarily to discuss Cuban’s buyout offer, the other sharks cautioned Mark Cuban. Lori Greiner said it was a tough industry, having been down the road herself. Cuban said he planned to use the product for his basketball team, the Dallas Mavericks.
As Nelson told her local ABC news station, they had been “berated for a solid 25 minutes.” The drama of the moment when they agreed to sell to Cuban was palpable even at the time of taping.
“The sacrifices that you make every day, with your kids, your spouse, your family, everything. In the hallway [when we discussed taking the deal] we’re like, you can’t take all that back. You could feel the whole set just… energy change.”
On-air, Nelson expressed “great sadness” as they said ok to Cuban.
But as it turns out, that was not the end of the story. As Brown revealed to friends and family who had gathered to watch the Shark Tank episode, they had a change of heart when contacted by a member of Mark Cuban’s team. They decided not to sell after all, but Mark Cuban has offered to give advice and guidance, according to Brown.
“We still own our business and Mark is more than happy to advise us in any way, shape or form that we want.”
It is not the first time nor will it be the last that an on-air Shark Tank deal has ended up looking quite different once the time comes to sit down and iron out the details. Kaeya Majmundar, creator of BZBox, recently revealed Lori Greiner ultimately took no equity after agreeing to a 40 percent stake during a Shark Tank taping.
The sisters live in different cities — Nelson in Raleigh, North Carolina and Brown in Zionsville, Indiana — but they communicate daily and engage all members of their family in running the business.
[Image: Shark Tank/ABC]