Phoenix-based entrepreneurs land $50K investment on ‘Shark Tank’
Dec 8, 2017, 5:15 PM
(Facebook/The Comfy - The Blanket That's A Sweatshirt)
(Facebook/The Comfy - The Blanket That's A Sweatshirt)
PHOENIX — Another pair of entrepreneurs from Phoenix have scored big after pitching their idea on the hit ABC show “Shark Tank.”
According to Inc., brothers Brian and Michael Speciale landed a $50,000 investment for their product called the Original Comfy. The pair debuted their design during the show’s 13th episode during its ninth season, which aired on Sunday.
The Original Comfy is described as a “reversible, oversize sweatshirt that lets customers tuck their legs into the garment and cozy up on the couch.” The brothers were seeking $50,000 for 20 percent equity in their company.
The Phoenix natives almost immediately ran into trouble when the investors said it resembled the Snuggie, a blanket with sleeves that was popular several years ago, and were in hot water when they said they have not sold any products.
“You have the worst answers to the questions, but it comes across so nice,” investor Robert Herjavec said. “Sometimes its OK to be number two or three in a really big market.”
But they “sought redemption with humor, personal anecdotes, and a good attitude,” the publication said.
Throughout their pitch, the brothers had the Sharks laughing as they sang traditional Christmas songs updated with lyrics about their company. Later, they tugged at the Sharks’ heartstrings by explaining that they were both single fathers. Michael moved in with Brian when he was going through a divorce and got the idea for the Comfy after spotting his nephew curled up in one of Brian’s sweatshirts.
However, in the end the brothers accepted investor Barbara Corcoran’s offer of $50,000 for 30 percent equity in the company.
They are not the first Phoenix pair to win big from “Shark Tank”: Phoenix natives Hector Rodriguez and Maria Luna won an $150,000 investment from two investors for their Bravo Tip or Pay app last month.
