0:00 [Applause]
0:01 next up is a replacement for millions of
0:03 disposables
0:06 [Music]
0:14 hello sharks my name is dinesh taripali
0:17 co-founder of incredible eats and i'm
0:19 from planet earth i'm here to share
0:22 seven percent of equity of our
0:24 incredible company for five hundred
0:26 thousand dollars
0:28 sharks across the world a staggering
0:31 amount of people are eating their food
0:34 with single-use plastic utensils
0:36 but why do we use something just for few
0:39 minutes if it's gonna take hundreds of
0:42 years to decompose sharks that's the
0:45 moment on the lips but a lifetime in a
0:47 landfill
0:48 that's why we came up with
0:52 incredible cutlery
0:54 the world's first mass manufacturable
0:58 totally edible utensils
1:01 wow wow well sharks
1:03 now you may eat your spoon
1:06 eat your straw
1:08 eat your spork and even eat your
1:11 chopsticks
1:12 need i say more
1:14 my question is not who wants to invest
1:16 in us but who would like to join us to
1:18 save the planet one straw or one spoon
1:21 at a time
1:22 okay sharks please try all our cutlery
1:25 in different flavors with different
1:27 types of food what are we eating here
1:29 who cares i'm gonna eat a spork
1:31 dinesh how long does it take for it to
1:33 decompose uh yeah so each spoon stays
1:36 firm for up to 20 minutes in hot soups
1:38 like a hot food and about an hour in an
1:40 ice cream so they're pretty stable
1:42 enough for you to eat with it and then
1:44 eat it after
1:45 this is very good thank you and 10
1:47 calories per chopstick chopsticks about
1:50 15 calories i had one spoon here and it
1:53 was fantastic it was like a spicy pizza
1:57 yeah flavored bread tomatoes i would
1:59 actually want to buy and eat these not
2:02 even as utensil
2:03 then this one was in ice cream and this
2:05 one has a vanilla flavor and it tastes
2:08 like a waffle cone so this is delicious
2:11 then we have here what is this one
2:13 that's a straw and what's the flavor
2:15 it's actually flavorless so you are
2:17 concerned about the flavor of these in
2:19 addition to their functionality um so
2:21 our concept is to keep them subtle
2:23 because our initial
2:25 first year of our sales is completely
2:27 focused on food service because that's
2:29 where the heaviest usage of plastic is
2:31 and they wanted it to be very subtle not
2:33 too overbearing because they don't want
2:34 to change the food you eat with right
2:36 what does it cost for you to make it and
2:38 what are you selling it for about 20
2:39 cents to buy the spoon and our cost of
2:42 goods is 10 cents what cost differential
2:44 would it be between
2:45 very large volume of plastic spoons
2:47 versus this edible spoon yes a plastic
2:50 spoon trends around one to two cents per
2:52 spoon
2:53 but our product has a capability to make
2:56 additional profits to the company let's
2:58 say for example a very large ice cream
3:00 chain ordered 100 million spoons if they
3:03 upsell it to the consumer for five cents
3:05 they make five million profit and we
3:06 also make profits but what would it cost
3:08 me if i didn't want to upsell as a large
3:10 ice cream company i bought a hundred
3:12 million of these what's my delta what's
3:13 my difference in price um so we started
3:15 35 cents we already brought it down to
3:17 20 cents we're gonna bring it down to 15
3:19 cents that's pricey i think
3:21 but have you sold anything yet i sold
3:22 1.2 million spoons so far two to two
3:25 enough years what's that in dollars uh
3:26 about 170 thousand dollars
3:30 that's it
3:31 and where are you selling them um yeah
3:33 so 2019 it was completely b2b food
3:36 service because that's where most of the
3:37 plastic is and we're going great we had
3:40 amazing traction and then the covet hit
3:42 and that was given opportunity for us
3:44 because we could explore b2c and direct
3:46 to consumer i i spent two weekends read
3:48 six books designed my own packaging
3:51 designed my own website you don't know
3:52 when you see this that it is edible
3:55 nobody knows that till you tell them so
3:57 there's a fair amount of education
3:58 that's going to have to happen and going
4:00 to the side of scale here when you talk
4:02 about 100 million pieces and i'm the ice
4:04 cream whatever it is the b2b play
4:05 business to business
4:07 i'm going to have to ask myself do i
4:08 want to pay 2 cents for the plastic or
4:11 do i want to pay 10 times more for this
4:13 and then educate everybody that not only
4:15 can you eat the ice cream you can eat
4:16 the spoon that you smooth
4:18 there's a lot of work there oh wait a
4:20 minute if you were creative you would
4:21 know that you can impression an imprint
4:24 into the spoon and into every piece that
4:26 says eat but do i want to pay 20 times
4:28 more whether it has that sign eat me on
4:30 it or not guiness you seem so excited to
4:32 be here today
4:33 yeah so this is my dream to be here i'm
4:35 an immigrant from india and i still work
4:37 and i've been hustling this from like 7
4:40 p.m to 2 a.m every single day for the
4:42 past two and a half years and i feel so
4:44 proud that i reduced or replaced one
4:46 million plastic utensils and
4:48 um
4:49 and i found the purpose of my life i
4:51 found the purpose of my life that's what
4:53 makes me more happy there's hundred
4:54 million plastic utensils disposed of
4:56 every single day and with our patent and
4:58 ip our company is going to change the
5:00 planet in the way people eat their food
5:02 okay let's go back to money because
5:03 that's a serious chunk of change i'd
5:05 really love to know your background i
5:06 love all this stuff about you know how
5:09 wonderful it is but i want to find out
5:11 about me money money money money let's
5:13 quit
5:14 the money kevin it's very important i
5:16 know money is most valuable so okay so
5:19 lori i was born in india and and my dad
5:21 taught me the value of content and
5:22 happiness and he said happiness is here
5:24 not here so i came to the us for my
5:27 master's and then i graduated i started
5:29 working in a technology company in the
5:31 bay area where masters was in uh
5:33 electrical engineering i decided i have
5:35 to take care of this because my my kids
5:37 future is at stake it's not about right
5:39 like
5:40 yes money is nice money is good to have
5:42 but imagine one ice cream chain or one
5:45 restaurant chain changing this to edible
5:47 cutlery and making money it's gonna
5:49 revolutionize the entire world
5:52 your enthusiasm is so absolutely
5:54 delicious but i feel
5:57 that you're blinded by your own
5:58 enthusiasm
5:59 [Music]
6:00 i think you're asking a lot of a
6:02 restaurant to go into the spoon selling
6:05 business as well
6:06 and to take their maybe one cents or
6:08 even half cent cost of their spoon and
6:10 up it to 20 cents a spoon
6:12 and so i think you have a lot of
6:15 challenges there that are against the
6:17 norm and super creative which i commend
6:20 you for but i'm not sure they're
6:22 practical enough to fly and so for those
6:24 reasons or now
6:25 [Music]
6:27 dinesh i disagree with barbara on that
6:29 point and let me tell you why that
6:31 passion is exactly what's going to make
6:33 you succeed the reason why i'm
6:35 struggling is
6:37 you know you have not proven
6:40 that this really cool concept is
6:42 scalable to the point that mr juan who
6:44 says but you've imputed a valuation
6:46 that's proven that it's scalable the gap
6:48 between your vision and your
6:50 expectations from us as investors is way
6:52 too way way too wide i have to evaluate
6:55 it not as a dream but as a business with
6:57 170 000 in lifetime sales
7:00 it's not worth 7.1 million so daniel
7:03 i've not spent anything on marketing i
7:05 have a huge capability of making it
7:07 vital because it's such interesting
7:08 product i just spent two years to make
7:10 the best product that there is i think
7:12 you're gonna win but i'm not gonna come
7:14 in as an investor in this college
7:18 i'm sorry but i'm not
7:20 thank you thank you for time i really i
7:21 mean i really wish you can think again i
7:23 mean
7:24 to me the the idea is brilliant and i i
7:26 love engineers and i'm sure your journey
7:28 got you to where you are because you're
7:30 passionate i believe all that but i am
7:32 like daniel choking on this 7.1 million
7:34 valuation
7:36 i like you but there's no way on earth
7:38 i'm giving you half a million dollars
7:39 for seven percent you said you were from
7:41 the planet earth so am i your deal's for
7:43 the planet zootron that's the problem
7:45 makes no sense i'll give you the 500
7:47 thousand dollars i want 35 of the
7:50 company that's about the right deal
7:51 [Music]
7:53 uh thanks for the offer kevin yes you're
7:54 thinking too small
7:56 you've got this game changer type
7:59 product that made me ask myself why
8:01 didn't i think of that because it makes
8:02 perfect sense the brilliance of what
8:04 you're doing beyond the product is that
8:06 every single online and in real world
8:10 brick and mortar company is always
8:12 looking for upsells that are relevant to
8:14 the product that's being sold underneath
8:16 it so if you buy a salad if you buy ice
8:19 cream if you buy whatever at a grocery
8:21 store you're right next to the
8:23 prepackaged foods and there it is want
8:25 to save the planet and put a barcode on
8:28 it and sell it individually you just
8:29 upsell it right so i'm going to make you
8:31 an offer that it's going to take a lot
8:33 of my time there's a lot of expense
8:34 involved from my end right so i'll offer
8:36 you the 500 000 but i want 20 percent
8:45 mark is saying you're not seeing it big
8:47 enough i think mark's not seeing it big
8:48 enough i see that it could be in
8:50 groceries it could be upsell i think
8:52 it's a fantastic product as it is so i
8:55 see it in grocery everywhere right next
8:57 to the plastic utensils but with
8:59 revamped packaging that just screams i'm
9:02 delicious eat me save the planet
9:05 but i also think that you could be doing
9:07 food service
9:08 i think you can be doing it all you just
9:11 need i'm not saying don't do one or the
9:12 other i'm just saying your path to least
9:14 resistance
9:15 in which to help you hello you just need
9:18 the right shark in which to help you
9:20 blitz the market
9:21 and i'm that shark so here's what i'm
9:24 going to offer you
9:25 i'm going to give you 500 000 for 15
9:29 percent
9:30 15
9:31 15.
9:32 so you now have three offers to consider
9:36 in shark tank so you've done a good job
9:39 pitching thank you you got mark 20
9:41 which is a discount offer you've got the
9:43 full value mr wonderful offer at 35
9:46 percent and then you've got lori at 15
9:48 what do you want to do
9:49 [Music]
9:53 you are so deliciously adorable and
9:55 delicious adorable i'm going to go ahead
9:58 and come back in i didn't want to offend
10:00 you with a lowball offer oh it's a
10:02 feeding frenzy i will do it for 25
10:05 wow
10:07 what do you want to do
10:12 uh am i allowed to counter
10:14 yeah of course you can do whatever you
10:16 want sorry you just don't know what
10:17 we'll do would any one of you do 12
10:19 percent for 500 000
10:23 no
10:25 it's not that you're not driven you're
10:28 all you've got all the elements of a
10:29 great entrepreneur but you came in with
10:32 the preset number
10:34 right which tells me you're not really
10:35 listening to us when someone comes in
10:37 with a hard set threshold a limit that
10:40 tells me that they're not truly going to
10:42 value us
10:44 i'm out
10:47 you're gonna have to make a decision
10:49 you've got three offers still what do
10:51 you want to do now's the time let's hear
10:53 it
10:56 dinette
10:57 i gave you the closest i'm wondering why
10:59 you're not taking it
11:01 up
11:06 so lori you have a deal wow
11:10 so thank you thank you so much
11:14 so smart and it's delicious
11:37 you
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