Inventor Les Cookson takes a dramatic second dive in the Shark Tank and makes a deal with Daymond John for artist drawing tool business.
Los Angeles, California Apr 9, 2022 (Issuewire.com) - In 2011, Les took his CarSik Bib, a barf bag worn around the necks of carsick children, to the Shark Tank. But the Sharks were not biting, and Les was laughed out of the Tank without a deal. Later during the Shark Tank 10-year anniversary show, Daymond John selected the CarSik Bib barfing dummy demo as his favorite pitch. Not because Daymond was so impressed with Les, but so he could mock Les' invention all over again.
Flash-forward to Friday, April 8th, 2022, when Les returned to the Tank with a new invention. It is extremely rare to get a second chance in the Tank, and Les used his unique position to very dramatic effect! Les first introduces himself as an entrepreneur with millions in sales, then mid-sentence becomes nauseous and runs back up the hallway. The Sharks are confused and concerned until Les pops back up wearing the infamous CarSik Bib. Roaring laughter ensues as Les runs a clip of the CarSik Bib pitch to remind the Sharks about the invention they ridiculed 11-years earlier.
"Don't worry, this time I'm not pitching a vomit necklace," Les announces as he rips off the barf bib and throws it to the ground. "I took that invention behind the barn and shot it!... But I took what I learned from watching Shark Tank and grew one of my other inventions to massive sales."
The raucous atmosphere settles as Les introduces his business LUCIDArt and the new invention: the LUCY Drawing Tool. The LUCY is an artist aid that helps anyone draw like a professional. Set whatever you want to draw in front of the LUCY, look through the viewing window, and draw over the reflected image to start your masterpiece in minutes! Kevin O'Leary, self-proclaimed "Mr. Wonderful, tested the LUCY by drawing a toy shark and certified that it worked as promised even if Kevin's 2-minutes sketch was not exactly museum-worthy.
Shocking. An inventor who was laughed out of the Tank 11-years earlier with a barf bib prototype had now returned with a real product and a real business. But Les still had some surprises--millions of them. When the Sharks started to dig into sales, the energy in the room skyrocketed again. 2.3 million in sales over the past 12 months and over 10 million lifetime sales. The Sharks were so caught off guard that they had to ask for the numbers twice. Considering the impressive numbers, Les' ask was not unreasonable--$300,000 for 10%--Les was clearly looking to make a deal.
LUCIDArt with its flagship LUCY product had amazing sales and great profit margins, so the questioning shifted to why Les needed a deal at all. Les shared his struggles with increasing customer acquisition costs and his vision for expanding into online drawing classes using the LUCY as a teaching tool. But once again, the Sharks were not biting. They all had very nice things to say about Les, his determination, and his success, but they did not see how they could help this already successful business.
Four Sharks were out. The only Shark left was the one who laughed loudest during Les' 2011 pitch, Daymond John. But this was a whole new ballgame, and Daymond was interested. Daymond offered the $300,000 for 20% of Les' LUCIDArt business. Les feigned outrage at the offer and reiterated that his ask was reasonable, but he was willing to go up to 12%. Daymond countered at 17.5%. Then right as Les grudgingly said the very highest he could go was 15%, Daymond jumped from his chair exclaiming that was right where he wanted to end up, and the two shook hands on the deal.
Learn more about LUCIDArt, the LUCY, and Les at DrawLUCY.com
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