Local business Freaker USA does not make a catch on Shark Tank

WILMINGTON, NC (WWAY) — A Wilmington business owner tried to hit the jackpot on national TV Friday night, but it didn’t go as well as planned.

Zach Crain appeared on the ABC show “Shark Tank,” which puts entrepreneurs in front of a group of deep-pocketed potential investors, including billionaire Dallas Mavericks owner Mark Cuban. Crain is co-owner of Freaker USA, which makes bottle and can covers out of a sweater-like material that keeps your drink cold and your hands dry.

The “Shark Tank” investors liked the idea of Freaker USA, but not the investment Crain was looking for. At one point during the show, Crain had an offer for $200,000 for a 50-percent stake in Freaker USA. Crain didn’t like it, and the “sharks” didn’t like how high he valued his company. Eventually, they decided to keep their money and let Crain come back to Wilmington empty-handed.

“It was awesome to go on there,” Crain said Friday after the show aired. “I wasn’t too worried about getting a deal, (but) it would have been nice.”

Despite not getting an investor on “Shark Tank,” Crain said being on national TV was a nice ad for his product.