Kevin also offered them $640,000 but for 0.38 cents royalty on every sold unit for a lifetime with no equity share. He explained to them that his counteroffer was justified given their debt problem. Mark offered to fulfill the duo’s investment demand for a 25% equity share in the brand. Both of them were interested in the business and made counteroffers. Mark Cuban and Kevin O’Leary were on the other side of the aisle. From an outstanding debt problem to the business’s irregular nature (around holidays), Barbara Corcoran, Lori Greiner, and Daymond Johnson went out citing various reasons. After that small prank presentation, the duo revealed their actual demand $640,000 for 8% stakes. Sharks were amused by how Ryan and Arik made their point and explained their business with a practical joke. Sharks opened the boxes only to find them empty, and this was when the duo explained their actual business. They then presented the product boxes of various bizarre time-saving products to Sharks. They told sharks that they offered various time-saving products. Arik and Ryan showed up on stage with a pseudo company name “Ryanarki” and asked for $75,000 0for 15% equity. Their pitch on Shark Tank was different from what we usually see. This debt problem forced them to seek a large chunk of investment, and for that, they decided to try their luck on Shark Tank. The duo introduced some new products in haste and ended up incurring significant losses and debt. After registering an outstanding year of sales with their unique empty gift box, they got carried away. Soon, they were overwhelmed by the client’s orders from all across the country. Prank-O was off to a great start when Arik and Ryan launched their prank boxes online. First, let’s look at their entrepreneurial journey and especially how they managed to pull off one of the most interesting investment pitches on ABC’s famous business reality show Shark Tank. What bizarre gifts these empty boxes feature on their exterior, and how the duo aces this fake packaging? We will discuss it in the later Prank-O review. They created the brand Prank-O and started selling their empty prank gift boxes online. Their reaction reassured the entrepreneur duo that they can launch this reverse prank idea as a start-up. Arik and Ryan first tested these empty gift prank boxes with their friends and family. They essentially come empty, and you can use them to pack your actual gifts.
However, in reality, this bizarreness is only limited to the packaging and print of the boxes. These boxes make it seem like the recipient is receiving a bizarre gift (plant urinal, petsweeper, etc.). To pull these reverse gift pranks off, they launched empty prank gift boxes. They wanted gift pranks to start with shock and disapproval, and end with a sigh of relief and laughter.
Arik Nordby and Ryan Walther wanted to reverse that order. These pranks start with curiosity and joy and end with disappointment and embarrassed smiles. Gift pranks usually pan out like this: you pack trivial and unexpected stuff (party popper, frills, or even a potato) in a box, wrap it in beautiful gift paper, and hold out to the recipient.
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