Norwood Company Turns Down Shark Tank Deal

NORWOOD, MA — iSlide founder and CEO Justin Kittredge could have walked out of Shark Tank with a deal, but not even Pittsburgh Steelers wide receiver Antonio Brown could convince him to take the money.

The Norwood-based company was on the season premier of the ABC show last week, making a pitch for their customizable candles.

Kittredge, a former Reebok employee, told the sharks that his company makes the only customizable slides in the industry and has fans in LeBron James, Justin Beiber, DJ Khaled, and Brown. Sales for the first three years is in the 1.5 million range and each pair costs $15 to make and ship and can be purchased for $50.

Robert Herjavec called the slippers "The most comfortable ones I’ve worn in a long time," but there were questions about the offer of $500,000 for a 5 percent equity stake in the company and the $10 million valuation.

"I got to tell you right now, that is 10 times revenue, that’s a really big problem. You are not going to get a $10 million evaluation," Kevin O'Leary said.

Kittredge continued to promote the celebrity endorsements, telling the sharks that DJ Khalid sold 800 pairs on his website in the first day of sales and Brown sold 400 in 24 hours. The Steelers wide receiver also made a personal appearance to vouch for the company.

"One reason I love iSlide is because you can customize it to your motivation," Brown said while sporting custom black and yellow slippers from the company.

Despite Brown's best efforts, the best offer Kittredge could get was $500,000 for a 20 percent stake from Herjavec, with other sharks declining to make an offer.

"Personalization is great and you grabbed onto it and you’re running with it. There’s nothing preventing anyone else from doing this," Lori Greiner said.

Herjavec said he could help the company secure mass apparel licenses, but Kittredge countered at $500,000 for 10 percent, which was declined by Herjavec. Despite Brown telling Kittredge to take the offer, there would be no deal and iSlides left the tank empty handed.

"You’re worth no more than $500,000 and you’re out of your mind for not taking that offer," Daymond John said.

"You don't know the stuff you don't know," Herjavec said.

Afterwards, an emotional Kittredge said he couldn't believe he turned down $500,000 but he didn't leave money on the table.

Image Credit: ABC Entertainment