Aabesh De, the founder of Flora, a start-up that helps monitor the health of houseplants, secured a lucrative $300,000 offer on the popular television series, Shark Tank. De is a former Microsoft employee who left his six-figure paying job to start Flora in 2022, a company that provides a clever solution for plant care at home.

Leveraging a companion app and a $64 soil meter that checks various vital parameters such as temperature, moisture, and light needed by a plant, Flora helps any plant owner maintain the health of their houseplants. Those passionate about their green space can opt for Flora’s premium subscription offered at $9.99 per month or $59.99 per year. The perks of the premium version include 24/7 access to expert plant doctors, continuous plant diagnosis support, and the ability to manage an unlimited number of houseplants with one soil meter.

When asked about his company’s financial status, De revealed that Flora had brought in $192,000 in lifetime gross sales as of 2023. However, he admitted, “We’re not profitable just yet. Year-to-date, we’ve spent about $180,000 in expenses so far… We lost about $500,000 last year.”

While on Shark Tank, De sought $300,000 for 10% of his company, but three out of the five judges on the panel were unimpressed. Among these was Robert Herjavec, Mark Cuban, and Kevin O’Leary, who all declined to make offers due to lack of personal interest in houseplants’ subject matter. Barbara Corcoran, another judge, had reservations about the business model of Flora and refused to invest.

Finally, it was investor Lori Greiner who expressed interest in the company. She made an offer of $300,000 for 30% of the company. De demonstrated his clever negotiation skills and countered her proposal by suggesting $300,000 for 15% equity with an additional 5% in advisory shares. To bridge any perceived value gap, De suggested considering a form of royalty. This move from De resulted in positive comments about his negotiation skills from the judges. Finally, Greiner and De agreed to a deal where she will invest $300,000 for 15% equity, 5% in advisory shares, and a 2% royalty per unit sold until she recoups her investment.

Source: CEO quit his 6-figure job at Microsoft—and landed a $300,000 ‘Shark Tank’ offer for his new startup.