Ellen Hodges and Omayya Atout approached the Sharks seeking $400,000 for 10% equity in Songlorious — quite a steep ask. But, as they got into their pitch, the investors were seeing green. The entrepreneurs explained that they already had 100 freelance musicians on deck, and that their first-year sales reached $700,000. Their goals with investment included producing songs in non-English languages and marketing toward the wedding sector. After playing an amusing tune, they ask the Sharks: "Which one of you wants to rock and roll with us into the future of gift-giving?"
Guest investor Peter Jones quickly offers up $400,000 in exchange for 33%, which FUBU-founder Daymond John counters with the same amount for 20% equity. Then, Kevin O'Leary and Marck Cuban jumped in with a joint offer: $400,000 for 25% of Songlorious. The power team explains that between Cuban's experience with AI voicing and O'Leary's connections in the wedding industry, they could go a long way.
Ultimately, four of the five sharks — excluding Lori Greiner — come together on a mega-deal: $500,000 in exchange for 40% equity, split evenly. Ellen and Omayya initially combat this offer with a hefty ask of $800,000 for 40%, which the Sharks decline. The music entrepreneurs ended up accepting the four-Shark deal at $500,000, with 10% each for Peter, Daymond, Mark, and Kevin.
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