Recap of Shark Tank Season 16: Firefly Recovery’s Promising Pitch
On March 21, 2025, ABC aired a captivating episode of Shark Tank Season 16, showcasing various innovative businesses, including Firefly Recovery, co-founded by Anthony Kjenstad and Lauren Campbell. The duo sought a significant investment of $500,000 in exchange for a 2.5% equity stake in their company, which specializes in post-workout recovery solutions.
The Pitch: Highlighting the Need for Effective Recovery Solutions
During their pitch, Kjenstad and Campbell emphasized the critical nature of post-exercise care, supported by the presence of American Olympian and beach volleyball star Kerri Walsh Jennings. As the entrepreneurs elaborated on their product’s benefits, investor Kevin O’Leary expressed skepticism regarding their $20 million valuation. He asked the pair to justify their company’s worth, considering their current sales performance.
Despite boasting lifetime sales of $7.5 million and projections of achieving $5.5 million in the current year, O’Leary remained unconvinced of their valuation, stating:
“Guys, I love the product. I like you guys. Kerri, congratulations on your success honoring the country this way. I love it all. Valuation is a real sticking point for me on this one. I don’t think you’re worth $20 million. I wish you the best of luck. I’m out.”
Revisiting Firefly Recovery in Episode 14
Firefly Recovery made a significant impression as the first company to present in Season 16, Episode 14. The entrepreneurs highlighted the importance of modern recovery methodologies, criticizing outdated options like traditional compression boots for being cumbersome and inefficient for athletes’ active lifestyles.
With Walsh Jennings now taking the stage, the Sharks were eager to hear her firsthand account of the product’s effectiveness. While presenting the mechanics of their recovery device, Campbell detailed its advantageous blood circulation capabilities—showing it could circulate three times more blood than conventional compression technology.
The entrepreneurs made their pitch clear: they were not merely seeking investment but looking to revolutionize workout recovery practices. However, the proposed equity stake of 2.5% for the $500,000 investment raised eyebrows among the investors, prompting questions about their valuation once again.
Negotiations and Offerings: A Battle of Interests
Rashaun Williams, a significant investor in related recovery product Therabody, expressed interest yet sought clarity on whether Firefly Recovery could serve as a replacement for existing solutions like compression boots. Further inquiries led to more insights, with Walsh Jennings sharing her positive experiences, mentioning how the product made her feel “fresher.”
The sharks wanted to understand the foundation behind the company’s valuation. As the conversation progressed, they learned about Firefly Recovery’s “athlete-led seed round,”which raised $1 million at a $10 million pre-money valuation.
“There’s no such thing as a bad deal, there’s just bad prices. And right now, this smells like a good deal but at a bad price,”noted Williams, emphasizing the importance of fair valuation.
Through extensive negotiations, what started as an uncertain pitch ended up with Williams and Lori Greiner extending a joint offer: $500,000 for a 5% equity stake in addition to a royalty structure. The entrepreneurs countered by raising their equity offer to 3.5%, emphasizing the potential growth and reinvestment in their business.
Ultimately, an agreement was reached when the royalty stipulation was adjusted, allowing both parties to move forward with a beneficial partnership.
Catch Up on Shark Tank
The full episode, showcasing the intriguing pitch from Firefly Recovery, can be streamed on Hulu for those who want to dive deeper into the entrepreneurs’ journey.