Yve-Car Momperousse and hubby Stephane Jean-Baptiste were an absolute hit on “Shark Tank.” They came out with three friends who mimicked the experience of harvesting, pressing, and decanting castor seeds. Momperousse and Jean-Baptiste offered boxes of samples to the sharks, who were blown away by the scent, texture, and quality of Kreyòl Essence products. They were seeking $400,000 for a 10% stake in their company. While everyone seemed to love the couple, Daymond John, Mark Cuban, Barbara Corcoran, and Lori Greiner all pulled out for various reasons. That left Momperousse and Jean-Baptiste with Kevin O’Leary, who gave them a tough offer. Mr. Wonderful offered them $400,000 for 37% equity. Obviously, Momperousse and Jean-Baptiste balked at these terms.
The intensity of the negotiation procedure made Jean-Baptiste emotional. He said that in 2016, they almost had to shut down their business because they lost a major client. He began crying and said that they felt like they had “failed” their community. Momperousse explained that their business was more than just a product; it was a blueprint for “poverty alleviation,” and it was a really powerful moment. Momperousse re-negotiated with Mr. Wonderful until they came to an agreement; for $400,000, O’Leary would get 5% equity plus a royalty of 25 cents per item sold in perpetuity.
