NORMAL (HOI) - Adam and Katie Stephey kept their little secret for months. They filmed for Friday night's episode of the hit reality tv show 'Shark Tank' during the summer of 2020.
During Friday's episode, the couple pitched their novelty 'Toilet Timer.' A gag gift for those who may spend a little too much time in the bathroom. We talked to the Stephey's prior to Friday's airing of Shark Tank, but they couldn't give away their little secret.
The 'Toilet Timer' got plenty of laughs, and several compliments for the Stephey's creation. But 4 'Sharks' said no to the proposed $200,000 for 10% of their company. The Stephey's explained they needed the money to purchase more product from their suppliers because they projected to sell out in 2020. They predicted over $1 million in sales for the year.
"It was a hard experience. It was an intense experience," explained Adam Stephey.
It all came down to the billionaire entrepreneur and owner of the NBA's Dallas Mavericks, Mark Cuban. The last shark swimming offered the Stephey's $200,000 for 25% of their company. Adam and Katie, almost without hesitation, said yes.
"When he made his offer and it was the only one, I was like let's do this," said Stephey.
"We had come way too far to just walk out of the tank without a deal," explained Katie Stephey.
When describing their experience, the Stephey's reiterated how much work it was, and how persistent they had to be. Lots of steps were involved from applying, to flying to Las Vegas to shoot, to signing paperwork and involving legal teams.
Katie said the production was incredible in how well they dealt with COVID. She said they felt safe and taken care of every step of the way. And they were definitely glad they had the chance to shoot the episode in person.
The next step for the Stephey's is finishing paperwork and the process of joining forces with Cuban. "He's got a lot of ideas. So this isn't the last thing from Adam Stephey," she added.