On Season 12 of Shark Tank, Colorado skier and entrepreneur Peter Arlein pitched his plant-based biodegradable wax for skis and snowboards, MountainFlow Eco-Wax. His patent-pending product is 100 percent petroleum-free.
Peter went into the Tank seeking an investment of $250,000 in exchange for ten percent equity. He turned down an offer from Daymond John ($250k for 25 percent and a connection to Olympic skier Lindsey Vonn); and left with $300,000 for 20 percent from two Sharks — avid skier Barbara Corcoran and Kevin O’Leary aka “Mr. Wonderful.”
Since the Shark Tank episode first aired on February 5, 2021, Peter wrote: “We are stoked to have such great partners and are pumped to make the ski industry more sustainable.”
Peter told Outside magazine: “Now I am getting double the resources. [Corcoran and O’Leary] both have great teams, with smart people that will help issues that come up. That is why I ended up taking the deal with those two.”
New episodes of Shark Tank air Fridays at 8 pm on ABC, right before 20/20 at 9 pm. [BONUS: Stream any ABC show through the ABC GO Digital App found here. Download is FREE.]