Shark Tank US | Peter Jones Makes A Shocking Offer To Long Wharf Supply Co.
Lauren and Mike Lamagna are seeking $375k for a 15% stake in their company Long Wharf Supply Co.
From Season 13 Episode 2
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Shark Tank US | Peter Jones Makes A Shocking Offer To Long Wharf Supply Co.
/ sptv
“You’ve got oysters, you’ve got some water bottles, you have no sales” lmao Kevin’s honesty is amazing
he just said he sold 495.000$ in revenue the last 12 months
These people are delusional if they think customers can afford a $120+ sweater
Damn these Kevin's fans bots are quick
Kevin is sometimes amazing. But in this episode he seemed greedy
FraudTX O'Lie'ary
"You lost 55% in 1 minute" Damn Daymon has me cracking up! 🤣
The audacity to say that his sister is making the decision on that one. She's so incredibly mature to not say no we'll take the deal
Right, he literally has all the equity but doesn't want to own the decision?? 💀
It would have been incredibly immature to say that. Why would you ever think that as a possibility?
He was obviously joking. That's just how siblings are, they trolll each other
@@iinntthhuu well ones things for sure never go into business with family.
God loves you all! The Father sent the Son to die for you and your sins so that you could experience freedom to the fullest! Believe in Christ's death and resurrection (which sealed the work done on the cross) for your salvation and the forgiveness of sins! Amen! God loves you all! The Father sent the Son to die for you and your sins so that you could experience freedom to the fullest! Believe in Christ's death and resurrection (which sealed the work done on the cross) for your salvation and the forgiveness of sins! Amen!
Peter Needs to be here permanently. He is the only person who can compete properly with Mark Cuban as a billionare
Peter also has that unique perspective that adds SO much more to the dynamic
Absolutely! He’s just great businessman, puts his money where his mouth is, engaging and a sly fox with a cheeky grin. He would be refreshing!
Peter has also been doing dragons den since 2-3 years before shark tank first aired. He's an absolute veteran.
Agree
Sorry bud he's ours. He's a Dragon not a Shark
I love how Peter bullied this guy into having to offer equity on tv, then made his own offer high enough so the guy couldn't have controlling stake if he took it lol
If he gave her 20% he probably would've only asked for 35%. He prob realised he could work well with the sister but not so much him, so wanted to make sure the two of them could out-vote him if they needed.
Peter is always greedy
And the fact he has controlling stake, he can rip this guy’s shares and give to the sister.
@Nash thanks
@@bazalinco he would of asked for a matching equity share to the brother so 40%.
Perfect example of good business, bad entrepreneur. That guy was just a massive collection of red flags. If he treats his own sister like that, imagine how he treats strangers
Absolutely. If they grow, imagine how he would treat employees. Not an inspiring leader to work with.
Show me a good entrepreneur that is successful and built a big business
@@maxnator Ratan Naval Tata. If you don't know him, search him up. He is really nice guy at the same time very successful and has built a big business.
it's his sister ,who are you to judge
@@rithviksirugudi1437 This guy is not bad though they are just hating
his sister deserves more than 10% the fact that he didnt even think of giving fair share to his sister speaks volumes
It’s probably all his money that was invested. She’s just his employee
nah its his money she works for him
@@omaralosaimi8146 she said she has full time job separately. How do you know she is getting paid fairly??
From comments like these, I can see that you would run your business on emotions. She has a FT time job and works with him on the weekends. More likely than not he probably invested 100% … she is his employee. Possibly intern.
@@jordanmt007 an intern who is almost or more fluent on the business as the owner? Also they never said she is getting paid.
Lori said it best, the golden opportunity was when Mark asked if they could make a less expensive T-Shirt and if he had said yes he probably would've gotten an offer from Mark & Lori for maybe 30-40% which would've changed their life forever. Honestly the sister seemed far more competent and I think if the guy had just shut up and allowed the sister to do the negotiations I think they would've made a deal. Massive missed opportunity.
Good idea Some one can make a busineetand sell to mark and lori
True
Agreed, the only one that had any business sense is the sister ironically, yet Coco own's 100% of the business that will likely stay as a small business at best, he should really have shut up and let his sister handle it all, far more competent.
I think it is stressful to be on the show and people don't always know how to react correctly on the spot
Hear hear!!
I love his Sister, and for him not to even ponder, consider, or fathom a thought of giving her equity is beyond me and shows his true nature.
And a very great reason not to invest. That attitude is a failure. Any way you analyse it
I wouldn't think about it either tbh
He should have given her more and before they came on Shark Tank. Giving her equity because he's backed into a corner isn't noble at all, it's greedy.
Perhaps, it's beyond you because you don't quite understand how a small family business works. She is a part-time employee. Why would he give her a percentage? I've worked for family members before, and put in way more time and effort than they did, but never asked for a share. I didn't invest the capital, take the risk, come up with the idea, do the research, file the paperwork, etc. I worked for a salary, just like any other employee. That's how it works in the real world. She is obviously a better salesperson than he is, which is probably why he brought her to the pitch. It's nice that she wants to support her brother's business, but that alone is not worth 10% of HIS company. It's shameful to have put them both on the spot like that.
@@seannewman8542 Well, for what it's worth, there's noooo way he actually gave her that slice. No way.
He threw his sister under the bus at the end to say no then had her working without partnership. Class act
How the hell is lifting her up giving her the power to make a big decision throwing her under the bus?? I guess a promotion at work is your boss throwing you under the bus too huh.
@@DJcyberslashhe didnt give her power he was just scared to say no himself get a brain
He was just joking around.
@@DJcyberslashby her reaction its pretty clear that it was his decision and he just threw her under the bus to make himself look less stingy
you must be a single child
I like Mark's idea of making a T-shirt everyone could afford and feel good knowing you're helping to clean the oceans of plastics and debris. It's so sad what's been done to this once beautiful earth.
Any clothes made of plastic are leaching microplastics into the water. Clothes should be made of organic materials only.
The earth was designed to clean itself
@@israelhernandez5431 that's not how it works..
We are all typing our replies on here with devices that contain a lot of plastic that will one day end up in landfill or discarded in the environment. We are part of the problem.
@@mrpoohead2654 you just have to recycle. Unrecyclable plastic can be burned to make electricity. When done right it only produces CO2 and water vapor. If power plants were built right we could recaptured the CO2 and water. It just costs more to build the plants. We have the technology for green fossil fuels. It's just expensive and people want to grift and make money on solar panels and wind plants. It's not as much profit in green fossil fuels. It's possible and would be a plentiful source of power.
Why did he have to say that is was "Lauren's decision" at the end? After they just discussed it right there, in front of everyone. That guy Mike is not a leader or a partner. Yikes
Yup....he threw her under the bus. He was the one whispering to her and when she nodded he said she made the decision 🤣🤣🤣
I took it as he was giving her some credit, probably for the 1st time ever lol.
Absolutely. If they grow, imagine how he would treat employees. Not an inspiring leader to work with.
Why does he have to be the leader? What if Lauren is the leader?
its a joke ...its his sister....smh
"The British are coming" LOL
Wowzaaa !!>
@@user_not_addicted yeahhhh
You know it 🔥
This guy tries so hard to come up with a story that he cares about the planet and environment but all I see is that he only cares about himself and the money. Makes the sister work for him for free.
Pretty sure he doesn't make her do anything. If she has an issue she doesn't have to be a part of it. They can try to shame the guy all the way but I'm sure behind closed doors dude isn't parting with anything.
Oh ok judge a guy off a 10 min clip 🤣
Who said she works for him for free? She could be payed weekly for all you know. I really don’t understand why people make the most obnoxious assumptions
Yeah the way he grabs her head and shakes it at the start of the clip... even if that was rehearsed, it's just weird
@@mrhumble2937 "Lauren's made the decision on this one" 🤣 As the owner that owns 90% of the company, threw his sister under the bus the first chance he gets. Shows a lot of character. If you really want the deal, I think ok, just my opinion, your 90% can overide her 10%. Just maybe. AND her 10% is not even official yet.
She is a star and they all saw it - big mistake not giving her more of a piece before hand
They'd also have been better off with her doing a lot more talking. She's obviously the more savvy of the two of them
Yeah she's definitely sharper. She must really love her brother to have been working for Free .99
@@theblackflame4002 it doesn’t matter who’s smarter in this situation it matters who’s more willing to do public speaking
Imagine if they came in as equal partners then gave up a third to Mark and Lori. Guaranteed success both personally and for the environment.
Does she say that she works for free? Maybe her brother pays her really good
This guy is the type of guy to say hes giving his sister 10% and then back out as soon as they step out of the tank. If he really valued her contribution he would have given her a share long before now. I could completely see this guy putting his own financial greediness over family, especially if the company got big.
He would never give her a share..of the company it grow big, let say 100 million comapany , then he would buy himself sportscars... MClaren, Bugatti, and his sister could work for him on a normal wage and he would remaind her to be thankfull that he is such a good brother.
@@alfonsgrizzly5558 what bs is this .. simply hating
So much words when you have no idea what’s going on in the background, I can see your lack of comprehension
He deserves a good old fashioned backhand. This is an outrage.
@@iwishiwasthomasshelby lol ok mom
The brother at the end is thinking like "uhhh no, I just did that for TV you are NOT getting 10%" 😂
Brother gonna be like 'you can have 10% on opposites day'
Yep, he's gonna say, "Hey sis, I had my fingers crossed when I said that."
that business would die instantly without her, shes pretty awesome.
@monkey220ms - 1. since when do you know what people are thinking?!? 2. do you (ahem) "fib" much in daily life, too?
8:00 Peter Jones just hitting the nail on the absolute head. He sees right through it. That’s experience talking!
This is a guy who will talk his way out of success and into failure
It’s honestly crazy how she is 1 of 2 managing the company, comes to shark tank, and she’s his sister, but she had no equity?
She shouldn't have equity unless she put money into the business. It's financially better to just pay her a salary Though if she is putting in the effort, as much as he is, I would have given her an unconventional 50% of the company, but every time they spend equity, they both lose the same. So if somebody come's on board for 10%, they both take 5% from their share
I assume she’s paid a salary since she work in the business but doesn’t put any money into it
how tf u know she is 1 of two managing. she has a full time job and seems better at speaking thats why came
@@fos1451 No assumption needed. He would have said that but he didn't
5:09 did he call him “Mr wonderwolf” ? 🤣
Haha, he did 😄
That poor sister. She deserves the world.
I would marry the sister.
"Peter just got you 10% of the company".. Yeah, the brother is probably thinking "nothing was signed so psssht"
The sister is so nice and loving to her brother wow
Daymond is like, " I wanna do so much about the environment but I'm out"
Lol trueee Wonder what his daughter thinks after seeing that…
😂
@@cooldawg2009 I think he's banned Shark tank using parental controls
Don’t know why he came up with the dumb daughter story
Clear example of because I care about something, doesnt mean I let that cloud a business decision. It was smart imo.
Mark made an incredible point about making affordable pieces that almost everyone could get behind. Most people cannot afford a $130 sweater.
Who else loved Mr. Wonderful laying back hoping for this pitch to be over? 10:31
Nice catch 😂
I'd certainly rather walk away with 45% of something good, than 90% of a dream.
Mark gets straight to the point! He is very smart
Barbra: I'm not even here, so for that reason, I'm out.
🤣
Not funny same repetitive joke
Barbara living rent free in your head
@@yooo4196 🌚
Give it a rest 🙄
I would have trouble trusting anyone that didn’t want to give their sibling equity for the work she put in. Peter was smart. He ascertained how much he would give to his sister. Then split the difference down the middle so he would be equal with him. Shrewd business if it went through
More Peter Jones in the Tank, please!
he cant. dragon has a den expecting him on hour.
I really doubt this brother will give his sister 10% after not getting a deal. He looks fake
I'm sure the investor would have made sure in was in the agreement that she would get her share
@@timbunyon1 There was no deal going on, so everything fell apart. Who's there to make sure the 'deal' between the sister and brother went thru? Even a "yes" deal from those investors can turn to "no" during the paperwork.
Hey @nokia9510 - do you "doubt" much in daily life, too? judgmental, too?!? ehhh?
More Peter on this is needed
Gives her no equity, visibly unhappy when the issue is pressed, says he will give her 10% but probably won’t follow through, throws her under the bus for the decision. What a greedy PoS.
He definitely did NOT. Give her that 10% of the company 😂
He shouldn't have to. Peter Jones has no right demanding he should.
@@matro2 He definitely DOES have to. Peter Jones said what literally everyone else but you is saying. And she deserved more than 10%.
The brother can’t stop tearing down the sister, first by not giving her any equity at all and then grinding his teeth when being told to give her equity, then throwing her under the bus saying the rejection of the offer was her idea? Tf?
It was so clear what he whispered in her ear and when the sharks asked for his sales, he did not want to answer. He's manipulative.
He's probably a narcissist and she's the enabler
@@LeahBreHappy What does that have anything to do with being narcissist? Bruh, all that tells us is he has no backbone. That's all.
Kevin trying to smell the oysters hahahahaha
She seems better equipped as CEO than he is
Core values, it was his idea he set it up, sister helped, its family business, you dot give out equity in family business and there Italians, loyalty to the family is everything
The brother was dreading the equity conversation for a while. He was thinking his sister would ask for a lot more. When she said 10% he bit her hand off.
You can see he's a selfish stuck-up guy who tried slaving everyone around, especially his sister. You can see the nervousness and dread in her eyes. She definitely isn't a happy camper around him and probably blackmailed her into working under him.
7:16 is this guy nuts? 💀 MARK was definitely gave him good deal yet he sound like just those old owners who don't wanna make any change at all ..why not any flexibility?? And T-shirt ideas was reallyyy greatt
That "salty siblings" moment was a little sus
10%. She deserves more.
Yup brother showed he doesn't care. She's clearly the level headed one and has just as much or even more dedication than him. For that reason I'd never buy his product dudes a dick
You have no idea what she does for the company
@@ryant1648 and you have no idea what he does. His role might be overstated.
@@JAB2010 Hence they isn't opening their mouth and saying something stupid. Maybe you should try it?
@@JAB2010 I know he founded the company
That 9:32 Daymond “Uhhh! & Kevin “Yauzaaa!” 😂
if they took the deal, the guy would have been equal partners with peter. both would have 45% since he would be giving away 10% to his sister
No not really. Thats not how it works. All existing shareholders are diluted equally: Peter: 45% Sister: 5.5% Brother: 49.5%
@@jpv2101 how?
If he had countered with 40 he would still have 50 percent and a deal
@@Chronic0420 Not so sure about that, I think the offer was purposely made to have equal shares. But who knows...
@@jpv2101 That's not true. You can't spend another shareholders equity without talking it over with them The OP was right
Personally, I would think the business would be better suited to sell the material to other clothing companies. Instead of focusing on sweaters, focus on the recycled fabric.
I bet as soon as they walked out the room he backtracked on that 10% too.
This is the funny thing about brands that do this -- saving the planet thing, it's so expensive most of the time.
The brother ruined it 😢
It was a terrible deal you fool
Peter should've made a offer where all three of them are equal partners at 33.33% 🤦🏽♂️
Who gets the 0.01%?
That's dumb. The brother has probably bankrolled it, while the sister has probably put in no money. just time.
1. The initial investment for the company probably came from the guy, and that's why he owns the 100% of it. But his sister has all her heart and hard work in the company too. So she deserves good stake of the company too. 2. Yeah he seems bit selfish but he's absolutely right to decline the offer. Giving up 45% equity makes no sense. 3. Mark was totally right about creating a product that most people can afford, help clean up the planet, and be proud of it. I think they are trying to present this as a premium brand, but instead they should focus on being a Green brand.
Or segmenting into other markets or products under other brand identities
As far as I understand from what was shown, he came up with the company so of course has 100%. Sister has a full time job and working on the side (regardless of her “passion”). I’m sure if she quit her full time job then they would have discussed it, but obviously this venture wasn’t at a point where she felt comfortable taking the leap to quit. I don’t know why it’s such a big deal but good for drama.
Me: I'm superman, I've saved the planet countless times unselfishly... Mr. Wonderful: let's talk about your sales
They are there to make money and successful business. All that matters is their sales.
@@user-sh8kc4kz2hI completely agree with you, just a little humor makes life more enjoyable.
It’s Shark Tank, not Superhero Tank…
What a great Sister! Shes so humble to ask for 10%.
I can't believe she asked for only 10%...Hope this guy give her what she deserves.
She’s full time somewhere else, she doesn’t need the headache.
@@omnientertainment5852 He has her working mornings, night, AND weekends. Probably already got one.
WOW they had the chance to be millionaires and didn't take it, they are going to look back at this moment and regret it forever.
45% is way to much the sharks know what they be doing sometimes it’s a word that Kevin calls “Greedy “😂😂😂
"Cause I wanna clean up the world, daddy" - definitely a legit story that actually happened.
Well you can get rich kids who want to do a normal job rather than ride the trust fund
Daymond yapping , telling this cute story just to say "I'm out" at the end killed me :D
We want more Peter Jones!
Which one is Peter Jones?
@@iwishiwasthomasshelby The British one in the thumbnail.
@@iwishiwasthomasshelby The tall British billionaire.
he whispered first and then told the sharks it was her sister's decision was proof this guy is a horrible selfish entrepreneur throwing her under the bus (the surprised reaction says it all). the fact that she doesn't even have a share of the company but equally dedicated to Long Wharf and even accompanied him as they face the sharks is incredulously pitiful. The man is ambitious and greedy at the same time - the product is good, though, but the owner's character isn't. ..
Lol “The British are coming” 😂
rofl, he made him give her equity and then made an offer which would end up giving him majority shares.
Big brain move. Thanks for point this out, I didn’t even notice.
nope, they'd have equal shares.
@@avajones97 you are right
This entrepreneur is delusional. He only went up 10% from his original offer even though almost all Sharks left. His sister had zero percent equity. He ignored Mark’s and Lori’s T Shirt idea
They should have countered and asked that he take the 45% but once he has recouped his investment he transfers 15% back to his sister meaning Mike has 45%, Peter 30% and Lauren 25%.
Love Him Or Hate Him?? Kevin, Mr. Wonderful.. Is Honest, sometimes brutally honest.. that i Really Respect..
Joey gonna end up back on the lobster boats real soon….
It is so funny to me that Dragons Den deals are usually way lower (e.g. 40K for 10-20% stake) yet Peter asks for a lot lmao
It's pretty obvious Peter absolutely HATED mike's guts and he was only going to do this if he could have a controlling share with his sister. I hope they're doing well, it'd be a shame if this company died.
Yeap you a genius
you must've not paid much attention in math class
@@jb-qy7hx what? Peter's 45% and the sister's 10% would be 55% so a controlling share combined as the guy said
Bruh Peter snaked this guy so hard💀😂
The brother just needed to let the sister do the talking 🤦♂️
He needs to lose his ego.
Good luck trying to find information about the factory where these are made.
How he had his sister working with him and don't already gave to her some equity? This is the type of entrepreneur that I wouldn't ever make deal. beside the fact that he just want follows his ideas and is not open to new ones.
Maybe because his sister isn’t putting any money in the company? I would assume she gets a salary from the company, so she doesn’t work for free, but since she isn’t putting any money she doesn’t just get the company for free. There’s also a reason why she only (force by shark tank) to ask for 10%, a small amount, probably because she doesn’t actually do much of the work
@@fos1451 And you know this how? She's talking about working nights and weekends after her job, that alone implies she's invested into the company. Her being family and doing that alone should have been reason enough to have equity without even asking for it.
Screws his sister over
"Were walking away as winners" Except him lol
Rars YES PETER JONES mans on shark tank yana... "whips up a coffee & rolls a spliff ready to kick a shark tank session" 👏🏽👏🏽👏🏽
Sad to see a greedy brother and an awesome sister paired up. She deserves more than 10%!!!
She must have thought a lot before asking 10%
Guy is like the ultimate yuppie, from the hair to the clothes to the facial expression
Peter sitting there thinking how eccentric and flamboyant these americans are😂 dragons den is far better!
I'm English. First time I've seen the US version of what we call Dragons Den. Our version is slower-paced, for sure. I quite like this US version though. Just don't understand why they need to put the little label to clarify the offers and counter-offers. That's funny to me.
Everyone jumping on the guy owning the whole company, she literally said she has a full time job while he's running the show. We don't know what compensation she gets for her work, and I'm sure she'd get money if he did well even without being part of the company. She's doing this as a side project, it doesn't mean she's not passionate or not essential, but who are we to tell them how to split up their business?
I would not be so sure of that. I always thought my siblings would do right by me but when It came down to it thats not what happened.
It would be different if it was just a friend but siblings, have to have a cut. I support some bum relatives just because they're my blood. I know it's wrong but there's something in me that just needs to keep the family name thriving.
Agreed, it was so lame that they pryed on that right away, let alone at all
Rewatch this sales pitch. The guy is the reason everyone didn’t want to offer a deal and was so spineless he blamed his sister when they didn’t accept the one offer they were given. If she had done the talking, they would’ve likely had a deal with Mark and Lori.
People on the internet think they know what they are talking about with no information.
This guy should have insisted his sister take at least 25-33 1/3%. Cause Peter was baiting him to see what kinda guy he was. Peter based his deal on what equity the guy kept!😂
Do natural oysters and natural wool to contaminate it will melted down transmission and brake fluid bottles
$150 for a sweater. 🙂
Or you can give $39 to companies that continue to deplete the planet
The fact the brother didn’t even give her a percentage off the bat…
This guy really rubbed me the wrong way. I don’t think I trust him.
Lol daymon got me on that one
I've bookmarked these guys for when I'm buying apparel so yeah, there's a market.
Peter would have been majority shareholder if they said yes
0:18 what’s with the rough hair ruffle!? I get that it’s a “sibling business vibe” but......Yikes 😬
Awhhh Damen’s daughter is the best! ❤
The britishers are coming, LOL got me
right. Instead of mixing high quality clothing with the cause (where clothing is dominating people's minds and the oysters are an afterthought), making the project the #1 thought, printing an oyster on a shirt and making it a cool brand is the idea!!
Not many will wear an oyster on a T-shirt, hoping people will ask the question, "What's Up With The Oyster?"
@@warriormanmaxx8991 not hoping. It's just the branding. You can add text, but it's just a cool thing.
Based on that last flabbergasted look I seriously doubt he went through the deal to give his sister 10 percent
I work in the fishing industry, and we just put it all into fertiliser, oyster shells is good in the harden, i don't understand them saying it's bad.
The british are coming! 😂👏🏼 I died 💀
the price of these sweaters floored me.
Only $128 for a regular sweater, what's the problem?
Oyster Shell is sold as a calcium source for chickens.
had no idea Peter Jones was on Shark Tank too. the music makes this so different from Dragon's Den XD
only for a couple episodes. cant be on there forever. he has better shows to deal with. he has a den expecting him on hour.
i must have missed, but how does using oyster shell in their product, put more oysters in the streams and oceans?