Peanut Butter Pump
Have you ever made yourself a peanut and butter sandwich only to have the peanut butter get everywhere. It's a real mess to do anything with, isn't it? Well... worry no longer because the entrepreneur behind the Peanut Butter Pump has solved all of our problems.
With peanut butter. All of our problems with peanut butter. That's the limit of his problem solving. He's solved peanut butter, or, the mess that surrounds peanut butter...
The Peanut Butter Pump is a combined scraper and suction device that will scrap every last bit of peanut butter out of a jar and push it out through a nozzle onto a piece of bread, into a piece of celery, you know... where ever!
Mr. Wonderful, as is his wont, declares that he's a peanut butter connoisseur who has actually made his own peanut butter (because... of course!). So he, naturally would like to know how large the chunks can be for people who both like chunky peanut butter and want to use the Peanut Butter Pump. This is important since, as we learn later, apparently 30% of the "peanut butter community" prefers chunky peanut butter. Apparently 10mm, is the answer.
When questioned about the age old controversy over whether to refrigerate the peanut butter or not, the entrepreneur says not to, that in order for it to glide through the pump, it must be at room temperature.
Unfortunately, when the sharks ask to see the Peanut Butter Pump, to hold it and to bask in its glory, the entrepreneur says that he has nothing for the sharks since he's actually using the prototype device in the demonstration. And the reason for that is because he only became an inventory after being laid off as a currency trader two and a half years ago.
But, it's not like the Peanut Butter pump has just been sitting there. It's been subject to popular approval through a community fundraising campaign. After having launched a campaign to raise $20,000, he was surprised to raise $129,000 instead! Of course, that's because it was being sold for $27 a unit which, as Lori pointed out, is a bit high. Also, it may not have been high enough since he's blown past the date he promised to ship and needs additional money to fulfill his promises.
When asked why anyone would need this, the entrepreneur responds that, right now, people are reduced to the abject state of being forced to scrap the sides of the jar. Daymond laughs and drops out, stating that he thinks it might have some utility in commercial kitchens but doesn't see it making a dent at home. But the entrepreneur still really pushes the home market, thinking it would be a hit with kids. And, yeah, maybe it might be good at juice bars also.
Kevin turns out to be very strange in that he refrigerates his peanut butter after opening it and claims that 40% of peanut butter consumers also do and that the entrepreneur is leaving money on the table by not serving them but the entrepreneur seems unmoved. So Kevin turns his sights on the one millions dollar-plus value and declares his hate for it.
Lastly, Mark says that, while he thinks the founder is a "good sport" it's just not investible for him and the final shark drops out of the deal.
The Peanut Butter Pump is a quintessential Shark Tank product, something that solves a problem most people hadn't really considered a problem before and was attempting to create a segment in the market. Unfortunately for this entrepreneur, it seems his business just wasn't far enough along to attract any investment and he ended up leaving without a deal.