Coatchex did not get an investment from the Sharks.
Courtesy of coatchex.com
1. A ticket-less coat check system.
2. Generate additional revenue for your venue along with high-tech customer service.
3. Can be setup and taken down in 10-20 minutes.
I can't decide if this is more annoying or less annoying than your standard coat check setup. On the plus side, I like that you can use your credit card (I almost never carry cash), and that there's some security in knowing that you're less likely to have your coat stolen. On the down side, it seems like kind of a hassle, and it's over-branded.
If Derek, as Kevin suggested, set this up in the "busiest steak house" in his home town, I feel like the steak house owner would be bummed about having a giant Coatchex-branded setup in his establishment.
After listening to his pitch, Mark almost flew out of his seat in a rage, screaming "HORRIBLE, HORRIBLE, HORRIBLE!" over and over again. My gut tells me Mark isn't going to be an investor in Coatchex.
There are some more objective objections raised (it's too seasonal, there's no marketing plan in place, there are other companies doing this) and with that three of the Sharks are out.
Surprisingly, Mark DOES make an offer. Daymond turns to him and tells him he's ruining the integrity of the Tank by making that offer - or ANY offer.
Unfortunately, Derek's advisor tells him to turn the offer down. Maybe it's for the best, though, and Derek will be able to develop his plan a little more before he goes fishing for Sharks again.