Shark Tank: The Father-Son Duo That Had All 5 Sharks Fighting For A Deal
Oftentimes on "Shark Tank," it's hard for entrepreneurs to receive an offer from one shark, let alone several. But father-son duo Mark and Kenzo Singer, who appear on Season 14, Episode 22, achieve something that's rarely seen on the show: a partnership with all five sharks.
In the May 2023 episode, they ask for $25,000 at 5% equity for Eyewris, a brand of foldable reading glasses that can be worn on the wrist, ensuring the user always has quick access to them. The elder singer, who brought the popular Gorilla Glue to the market, explains how, as he got older, he started to rely on reading glasses more and more. However, even after strategically leaving several pairs all over the house, he still couldn't find them when needed.
After sending the Singers backstage so the sharks can speak among themselves, Mark Cuban, Daymond John, Kevin O'Leary, Lori Greiner, and Barbara Corcoran all agree to back Eyewris with a joint deal of $125,000 at 25% equity. Upon returning to the stage and hearing the offer, the Singers ask if the sharks can drop to a 20% stake, and they instantly agree.
Mark and Kenzo Singer didn't need money to get Eyewris off the ground
All five sharks wanted to make a deal with Mark and Kenzo Singer because they believed in Eyewris. However, it wasn't just the company that had them jumping at the chance to make a deal. The sharks, especially a teary-eyed Lori Greiner, fell in love with the Singers' story. Unlike many entrepreneurs who appear on "Shark Tank," they didn't need the sharks' money. In fact, Mark put $630,000 of his own cash into the business.
In the episode, when asked why they need a shark's help, the father says, "Your most valuable commodity isn't your money. It's your time. You can always make more money, but you can't make more time. And time gone by is gone forever. I don't have it in me to build another company. My time has passed. My main reason for being here is to leave Kenzo in good hands, and by that, I mean with successful, smart, honest, and ethical people like yourselves."
Ultimately, thanks to Kenzo's structural engineering background, they had the initial design complete and new products on the way. They just needed the know-how of the sharks to get Eyewris on the market.