Fanatics CEO Michael Rubin makes ‘Shark Tank’ appearance, partners with Mark Cuban twice on deals

After ABC’s Shark Tank announced Fanatics CEO Michael Rubin would be a guest shark on season 15 of the show, Rubin made his appearance on Friday’s episode, where he made a couple of deals.

Shark Tank consists of a panel of multimillionaire and billionaire “sharks” looking to invest in businesses and products from people across the United States, with recurring cast that included Dallas Mavericks owner Mark Cuban, Barbara Corcoran, Lori Greiner, and Kevin O’Leary on this particular episode.

Here’s a recap of each product that made it on the third episode of the season ...

The first presentation of the show was made by Maurice Bachelor and Joel Griffith, co-founders of their company called Bot-It, a website and mobile application that uses Artificial Intelligence (AI) to complete tasks, such as booking dinner reservations, buying concert tickets, and other similar tasks. Their goal is to help consumers compete with robots users, or “bots,” that snatch up all the good reservations and tickets within seconds. The pair’s asking price was $150k from the sharks for a 10% stake in the company.

» READ MORE: Fanatics CEO Michael Rubin will be a guest shark on ABC’s ‘Shark Tank’

After the initial presentation, Rubin asked several questions to Bachelor and Griffith, pointing out that his Fanatics team has been working to eliminate bots on the merchandise’s website. Asked Rubin: “Aren’t all the companies going to build something to eliminate a bot from being able to successfully do what it’s supposed to do?”

The Bot-It creators claims its technology is undetectable, with Bachelor adding, “We can get on any website we need to run our software.”

Cuban and Rubin both put offers on the table, with Cuban asking first for a 20% stake, then Rubin cutting under and asking for a 15% stake. Rubin asked to partner with Cuban, who initially denied. Eventually, the pair settled on partnering to have a 30% stake in Bot-It, investing $300,000 in return.

After the deal was made, Rubin added: “Mark, you do all the work and we’ll [Fanatics] add a little bit of value.”

“Right, that’s what I always do,” Cuban responded with a laugh.

Ayra and Tasha, founders of Wellingtons, a company that ships frozen Beef Wellingtons after preparing it in their commercial kitchen in Los Angeles, entered the tank seeking $200k for a 10% stake in its business from the sharks.

After tasting their Wellingtons, the sharks, including Rubin, decided not to invest in the company, sighting high shipping costs and a need to find new ways to sell the product. The pair currently has most of its sales through Goldbelly, which is similar to Postmates, but allows for overnight shipping.

» READ MORE: Fanatics Sportsbook at Washington’s FedEx Field looks to give fans a greater NFL viewing experience

With the help of his dad, Jon Batarse, and sister, Morgan Batarse, eight-year-old Gavin Batarse pitched his company Glove Wrap, a precisely-measured elastic band that helps break in and protect baseball gloves of all shapes and sizes. The family was seeking $50,000 for a 20% stake in Gavin’s company.

Rubin immediately gravitated toward the product, especially after Gavin told the sharks that he was meeting with Big 5, a sporting goods store that sells baseball equipment.

“The first retailer I ever sold to was Big 5 Sporting Goods, that’s where it all started for me,” Rubin told the family.

Ultimately, Rubin decided to invest in the company, but under one condition: that Cuban, again, partners with him. And again, Cuban obliged. The pair asked for 22% equity for a $50,000 investment, which Gavin accepted immediately.

“For us, we’d love to introduce you to some of the best baseball players in the world. We’d love to introduce you to some of the best retailers,” Rubin told the family.

After the pitch, Rubin added, “That kid is a young me. I want him running Fanatics in 10 years.”

Blaine Anderson, founder and CEO of Dating by Blaine, started her business to help give single men the tools they need to find a partner through online courses and one-on-one coaching. She was seeking $100k for a 2% equity in her business from the sharks.

Cuban ended up making a deal with Anderson, matching her on the money, but asking for 10% equity. While O’Leary also made an offer — for 15% equity in the company — Rubin was the first one out of the deal.