Bed-Stuy Man Secures $100K Deal On Shark Tank
Kyle Donovan is doing it for Brooklyn!
Kyle Donovan is doing it for Brooklyn!
Kyle Donovan, 46, of Bedford-Stuyvesant and creator of iFORK, walked into the Shark Tank seeking $100,000 for five percent equity for his flatware company, iCup and iPlate.
iFork is a utensil line that features a special design that prevents utensils from touching the table, helping to keep food residue off the table — or vice versa. According to their website, their “first mission was to design an innovative line of forks, knives and spoons to rise above the surface. By doing this we would prevent dirtying our tables and counters from food residue sometimes left on our flatware from cooking and dining.” Donovan created this idea after being grossed out that utensils had been touching the table.
The iFork, iCup, and iPlate have a special interlocking system that allows one to carry them all in one hand.
In an interview with abc7, Donovan detailed his hard road to success. The inventor “got kicked out of high school but did eventually go back and graduate. After only one semester in college, Kyle dropped out to chase his dream of becoming an entrepreneur,” abc writes.
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Well it seemed to work out for him.
While all the sharks thought the line was a good idea with a “catchy jingle”, Barbara Corcoran was the only shark to offer monetary interest. The real estate mogul offered $100,000 for 20 percent of the company — contingent on redesigning the plates and packaging. Donovan was able to negotiate with her and got her to agree to 15 percent.
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