Lisa Lane and her son, Jake, the inventors of the Rinseroo and Millstone Township residents, were the recipients of Lori Grenier's "golden ticket", which means she gave them exactly what they were asking for: a $343,000 investment for 5% equity.
A Rinseroo is a slip-on hose attachment designed to make cleaning the bathtub easier, with a spray head that can be placed over showerheads and faucets. Rinseroos can be used for anything from cleaning the sink, washing a dog or even as a bidet.
Lisa told the sharks the idea came to her when she was at her crowded beach house on the Jersey Shore.
"There's 15 of us and four dogs," Lisa said. "I wanted to be up on the beach, but instead I found myself in the shower cleaning dogs, cleaning the shower walls, filling the bucket over and over. There's got to be a better way."
Lisa recruited Jake and they were able to develop Rinseroo. The Lanes told Grenier how they read her book "Invent It, Sell It, Bank It! Make Your Million-Dollar Idea Into a Reality," to determine if they had a hero or a zero.
"We have a hero!" Lisa said. "It's mass market, it's demonstrable. It solves so many problems. Lori, I'm so grateful because your advice has solved so many problems."
Shark Kevin O'Leary was initially skeptical of their $6 million valuation, but the Lanes wowed the sharks by revealing they made $1 million in sales their first year in 2019, and are set to sell $5 million this year, while only selling online. The product is patented, the Lanes said.
After receiving offers from O'Leary and Draymond John, Grenier showed that kissing up has its perks, as she pulled out her golden ticket, which she only gives out once per season, if at all.
"You were our girl from day one," Lisa said. "You are our dream shark. I'm so excited. It's an inventor's dream to have gotten the golden ticket from Lori. Our goal was to team up with her to get Rinseroo in every household in America and I have no doubt that dream is going to become a reality."
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