An Entrepreneur Who Landed A $250,000 Offer On ‘Shark Tank’ Was Thrilled When A Shark Said Her Company ‘Sucks’ And Questioned Its Valuation18 October, 2018 / Articles
- Nicki Radzely, the cofounder of Doddle & Co., appeared on “Shark Tank” in January to pitch the Pop Pacifier.
- During the episode, Daymond John told Radzely her company “sucks” and questioned why she had valued her business at $5 million.
- Radzely ultimately accepted a $250,000 offer from Kevin O’Leary.
- Looking back, Radzely said she loved that John insulted her because it gave her more airtime and a chance to address other investors’ and viewers’ concerns.
Nicki Radzely didn’t go on “Shark Tank” to make friends.
She knew she’d be pummeled with hard questions — and potentially insults — about the product she was pitching, the Pop Pacifier.
Radzely is the cofounder of Doddle & Co., a company that makes baby products, including pacifiers and teethers. The Pop Pacifier is designed to stay clean because the nipple pops back in every time it falls.
When Radzely went on the show in January, Doddle & Co. was four months old, and she was asking for $250,000 in exchange for 5% of her company, meaning she had valued the business at $5 million.
Daymond John took the lead on questioning Radzely about the cost, her sales, and why she thought the company was worth $5 million.
When Mark Cuban and Sara Blakely, the founder of Spanx, proclaimed the product a “hit” with parents, John jumped in to say it “sucks.” It was a pun, since the product was a pacifier — but you would imagine that the comment would sting nonetheless.
That wasn’t Radzely’s reaction. “I thought it was fantastic,” she told Business Insider. Radzely also got a kick out of John putting the pacifier in his mouth during the episode.
“I think he was giving me a wink through his comments and actions to get us on air and to give some rise to our brand,” Radzely said.
“He asked hard questions,” she said, “which helped me prove to the other investors that were sitting there that I could answer them and that there were no major flaws or gaps in our story.”
She added: “The questions that people were probably thinking, sitting at home watching, he asked. So it gave me a moment to clear that air.”
Radzely received multiple offers, including a joint offer from Blakely and Lori Greiner. Ultimately, Radzely accepted Kevin O’Leary’s offer: $250,000 for 10% of the company.
Today, Doddle & Co. has reached nearly $1 million in sales.
Radzely said she “loved everything” that John “said and did.”
“It only helped us,” she said.