'Shark Tank': How Michelle Jimenez of Pizza Cupcake cracked a $150k deal with Lori Greiner

The recent episode of Shark Tank saw Michelle Jimenez closing a nail-biting deal with Lori Greiner. The latter was the only one to show interest in the melt-in-mouth food item and audiences were shocked to see how Michelle was ready to risk it all with the negotiations. Read along and find out the details about how the deal was finally closed.

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How Michelle Jimenez cracked the deal for Pizza Cupcake with Lori on Shark Tank

In the recent episode of investors show, Shark Tank, couple and co-founders Michelle Jimenez and Andrea Meggiato entered the tank seeking a $125,000 deal for a 10 per cent stake in their venture The Pizza Cupcakes. The two explained how their frozen food turns into an easy bite-sized appetizer that can be enjoyed whenever and wherever in its easy-to-carry form. Hailing from Venice, Andrea explained how the dough that goes into their pizza cupcakes is something none of the sharks might have eaten before, and also talked about its melt-in-mouth texture.

Then came the time for the sharks to try the delish cupcakes who expressed that they were amazing as soon as they took the first bite. Although, this was not enough for Daymond John, Kevin O'Leary, Mark Cuban and Robert Herjavec to invest in the brand. They gave their set of the reason for the same which included logistical issues of frozen food to heavy competition existing in the sector.

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However, to everyone’s surprise, Lori Greiner showed her interest and made a deal. She increased the investment amount by $25,000 that is from $125,000 to $150,000 along with a 20% stake, double of what Michelle and Andrea had put on the table. Michelle who comes from a strong sales and marketing background was not ready to give away such a huge stake and took the risk to secure a better deal even when there were no other offers.

She came up with a counter-offer but Lori wasn't willing to budge. Michelle still stayed her ground. After some consideration, she decided to come up with another counteroffer of $150,000 for a 12.5% stake. Lori decided to meet Michelle midway and gave her a final offer of $150,000 for 15%. Michelle again tried persuading Lori to increase the money she would be investing. But when the shark showed no sign of budging, Michelle gave one last try and asked Lori if she would be okay with an offer of $150,000 for a 12.5 % stake in the company and 2.5% advisory shares. The shark instantly accepted the offer, and the deal was closed.

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