The Twin Cities maker of earplugs designed for concertgoers didn't like what he heard after his enthusiastic pitch, with musical accompaniment, during the most recent episode to air of ABC-TV's "Shark Tank."
Vibes produces high-fidelity earplugs that filter acoustics to lower the decibel level, allowing music fans to hear at concerts without damaging their ears or suffering hearing loss.
Jackson Mann, a Wayzata High School and University of St. Thomas graduate who founded the start-up, handed out the earplugs to each "Shark Tank" panelist and then brought onto the set the McNasty Brass Band to belt out a tune. Each panelist was impressed with how well the product worked.
And then it went downhill from there.
No investment offers came from Mark Cuban (Dallas Mavericks owner), Barbara Corcoran (New York City real estate hotshot), Lori Greiner ("The Queen of QVC") or Chris Sacca (Twitter and Uber investor). Concerns included that the retail price of $23.99 was much higher than very similar products already on the market. Corcoran scolded Mann's skills as a salesman.
Mann, who got the idea for the earplugs after rupturing his eardrum two years ago when he stood too close to a speaker system at a Pretty Lights concert in St. Paul, countered that his product is more difficult to see when worn and easier to keep handy.
Kevin O'Leary, who sold The Learning Company (which made Reader Rabbit) to Mattel for more than $4 billion, baited the hook in hopes of reeling in Mann. O'Leary offered to put into Vibe the $100,000 that Mann was seeking. In return, O'Leary wanted $2 for every pair of earplugs sold and 35 percent of the company.
Mann needed little time to turn down O'Leary, saying he wasn't interested in a royalty arrangement.
