[Shark Tank Season 6 Episode 1] Shark Hung Anh Starts New Season With Million Dollar Deal
25 Sep, 2023 (GMT+7)Export To PDF
The opening regarding episode 1 of Shark tank season 6 is the appearance of three Startups in the fields of health care, technology and real estate technology. In this episode, Shark Hung Anh negotiated successfully the first deal with a commitment to invest $1 million for a 15% stake in cooperation with Tracybee company.
Tracy Bee - Vietnamese brand specializing in distributing and manufacturing bee products - was received a lot of attention from Sharks
The first startup to come to Shark tank Vietnam season 6 is Le Ngoc Thu Trang - Founder and CEO of Tracybee Honey Bee company and specializing in bee products. Borning in a family with a beekeeping tradition since 1975, despite having the opportunity to settle in Australia, Thu Trang and her husband decided to return to Vietnam to raise bees, harvest honey and export honey to some developed countries in 2010. However, it could not satisfy her ambition, in 2012 Thu Trang had hoped and desired to bring a quality honey brand to the Vietnamese people.
In 2021, Tracybee's honey won the Platinum Award at the London International Honey Awards. In 2022, Tracybee's pear flower honey participated in The Superior Taste competition held in Brussels and received an award of 2/3 stars, ranking only behind an American honey brand. Coming to Shark Tank Vietnam, Thu Trang wants to invest in research and development of Brazilian green propolis in order to bring to the Vietnamese market an approach to help treat common diseases such as coughs, fevers, and infections, etc. She called on the Sharks to invest $500,000 for 4% of the company's shares.
Sharing in terms of the financial situation, Thu Trang said that her business earned nearly 69 billion in revenue and after-tax profit of 18 billion VND in 2022. In addition, she also added that Tracybee is currently cooperating with Apis Flora, the world's largest company, and holds the EPP-AF technology which they invented. This exclusive technology has helped Tracybee extract three times more Flavonoids and Artepillin C than conventional technology. In addition, she also affirmed that Tracybee is the only company in Vietnam that inherits that technology.
Shark Hung Anh expressed his impression and interest in Tracybee
Shark Hung Anh negotiated successfully a million dollar deal, marking the first million dollar deal in Shark tank season 6
Based on sharing from the head of Tracybee company, Shark Hung was the first person to decide to spend 500,000 USD for 10% of shares. Besides, Shark Tue Lam shared that she liked the impact that Tracybee could have on the community, so the "9x Shark" proposed to invest $500,000 for a 7% stake.
Next participating in the investment was Shark Hung Anh, proposing an investment of 1 million USD for 19% of shares, but Thu Trang did not agree. She proposed that with 1 million USD, the share ratio would be 12%. She explained that now is a very good time for the Sharks to come in because Propolis has nearly completed the market introduction stage, going straight to the Growth stage. Tracybee currently has an open platform for distribution, products, a customer database and is loved by many customers.
After that, Shark Hung Anh offered another solution of 1 million USD for 18% of shares but was still rejected by Thu Trang. She came up with many other options to convince the Sharks to accept the deal, including 30% of the profits to reinvest, and the remaining 70% to be distributed as dividends to shareholders. Of that 70%, Shark will be paid dividends based on the ratio invested in the business. Besides, she also pledged to earn 300 billion in revenue by 2025 or else she would return the money to the Sharks.
Finally, Thu Trang admitted that 1 million USD for 15% of shares is her maximum number. Fortunately, Shark Hung Anh accepted this deal from Thu Trang, marking the first million-dollar deal of a female Startup in the history of Shark Tank Vietnam.
Shark Hung Anh got a successfully a million USD deal
Doctor's fundraising brought nearly 100 patents to Shark Tank and real estate technology Bds.net
Besides Tracybee's million dollar deal, Shark Tank season 6 episode 1 also received the presence of HuePress Company and Bds.net company. HuePress Company's business, with passion, enthusiasm and diligence in its business work, has received investment from two big "Sharks", Shark Erik and Shark Tue Lam. On the other hand, BDS.net Company has participated in calling for 5 billion VND for a 10% stake with a completed business model and product on the Bds.net website. However, because of bad luck, this company did not receive any investment from the Sharks.
Sharks discussed with Startup
Follow Shark Le Hung Anh at: https://www.facebook.com/SharkLeHungAnh