At first glance this business seemed like a great idea. Wait. No it didn't. It's a horrible idea and here's why:
As Robert Herjavec pointed out, the multi-billion dollar business of online dating was primarily created with the shy person in mind, AKA - the people who are not comfortable approaching someone they meet. Cheek'd however seems to completely negate this concept because it requires these people to approach someone and hand him/her their Cheek'd card. Robert went out because of this huge flaw in the business model, and many viewers would have been right behind him had they been sitting on the panel.
Every time Lori Cheek was asked even simple questions such as "how much are the cards", "how many members do you have", or "how much revenue have you generated", she responded by saying "that's a very good question". For a woman who has dedicated her life developing creative ice-breaking pickup lines, she did not seem to know how to capture attention of a perspective partner. Cheek'd was founded in May, 2010 and has around 4,500 active members, most of whom haven't paid a dime for the service. In other words, Cheek'd has been around for almost four years and it has yet to generate revenue, let alone make any profit. This little fact caused the Sharks to squirm in their seats in disappointment and begin formulating some ice-breaking insults and reality checks to the founder of Cheek'd, especially after she exclaimed with certainty that her business would change the population!
Mark went first, putting it quite bluntly with a rule that he follows: "When people come into the Shark Tank and are delusional, I'm out". Simple as that. If you walk into the Shark Tank claiming that your dumb idea that hasn't generating any revenue in three years is going to somehow change the world, you are delusional.Robert basically said the same thing in just different words, reminding Ms. Cheek that the definition of insanity is doing the same thing over and over again expecting a different result each time. Then Kevin O'Leary, the King of Retorts, said that her business should be taken behind a barn and shot like a dog with rabies, and that pursuing this venture for another minute is a complete waste of time.
With all the male Sharks out, Ms. Cheek directed her pleads for an investment to the two women investors, Lori Greiner and Barbara Corcoran. She began by telling Lori that she just read on her Facebook page that entrepreneurs can't be afraid to make mistakes, and that just because the Cheek'd website had been dysfunctional for three years and has brought her expenses of $125,000 in getting it fixed, does not mean she is afraid to keep working to reach success. However, Lori Greiner responded that sometimes you just have to realize when an idea is bad and will never work, and stop before it's too late. With that, she was out.
Lastly, Barbara Corcoran reflected on an early business venture of her own, selling flowers, which for two years wasn't making her any money. She said that if she didn't drop that idea and move on, she would never have become a millionaire and become the person who she is today. Sometimes you just have to listen to the universe around you and move on.
Unfortunately, it did not seem like Lori Cheek listened to the wise words of the Sharks. She walked out of the Tank and voiced her thoughts in the post-interview saying that she will never give up and that Cheek'd will in fact change the world. Well Ms. Cheek, the world begs to differ. Because the definition of insanity is doing the same thing over and over again expecting a different result each time. Because the definition of insanity is doing the same thing over and over again expecting a different result each time. Because the definition of insanity is doing the same thing over and over again expecting a different result each time.
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