Many budding entrepreneurs pitch to “Shark Tank,” but few make a lasting impression like Donna and Rosy Khalife.
The sisters co-founded Surprise Ride, a box subscription service helps kids get off the gadgets and engage in the real world with hands-on activities. Little did they know that their mission to curate creative activities for children would eventually lead to one of the most unforgettable pitches in “Shark Tank” history.
Looking back on the event five years later, the sisters express gratitude for having the experience.
“Our risk appetite was so far greater than it is years later.” Rosy said. “So I always say this to entrepreneurs…when you’re first starting out, don’t be scared to do the thing that you may not be able to do.”
Before dazzling the panel with perfectly curated gift boxes for each of the Sharks, the sisters shot for the stars in asking $110,000 in exchange for 10 percent stake in their company.
“You’re an investment banker, or at least you were one, do you think it’s a little extreme ask in terms of value?” Kevin O’Leary asked.
After the classic valuation question came a series of events that could best be described as, ironically, the name of their company.
“The whole thing has served us in a way that ourselves at the time didn’t even realize,” Rosy added. “We’re so grateful looking back now.”
Surprise Ride has come a long way since. Last month the company was acquired by Fat Brain Toys, one of the leading toy brands in the nation.
“When we went on Shark Tank we were just three months old, we had done $18,000 in sales and since then we’ve done millions,” Donna said.
Catch the Khalife sisters impress the Sharks on “Shark Tank” Sunday 7P ET on CNBC.