People really love the smell of money, so former Microsoft employee Pat McCarthy created Liquid Money, a fragrance that smells just like real money. It’s available in two versions: “His Money” and “Her Money.”
He appeared on Shark Tank Season 3 seeking investment from the Sharks. So, did any of the Sharks invest in his business? Let’s find out the current status of his business.
| Company Name | Liquid Money | |
| Founder/Co-Founder | Pat McCarthy | |
| Founded | 2008 | |
| Product | Fragrances that smell like money | |
| Asked For | $100k for 5% equity | |
| Final Deal | No Deals | |
| Shark | No Sharks | |
| Episode | S3 E3 | |
| Air Date | Feb 3rd, 2012 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | Geneva, Illinois, United States | |
| Lifetime Worth (Sales) | $5M *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
Business Pitch Episode Recap
McCarthy asked the Sharks for $100,000 in exchange for 5% equity at a $2 million valuation. He demonstrated his product to the Sharks and explained that his line of “His Money” and “Her Money” fragrances are made from three core elements: the woody aroma of cotton, silk, and linen.
The best thing is that McCarthy holds the trademark for the brand name in fragrances, which means no other business can legally launch a fragrance line under the same name.
His annual sales so far are $52,000 because his product is currently available in limited retail stores. Additionally, he has already invested $50,000 of his own money into the business.
Daymond John said that the business is entirely based on advertising, which would require millions of dollars, and $100k wouldn’t be sufficient to scale the business.
The Sharks felt that McCarthy’s valuation hasn’t justified because the sales of his business didn’t support his asking amount.
Mark Cuban believes the company’s valuation is too high, so he’s out.
Kevin O’Leary said he likes the money, but he doesn’t think the company is worth a $2 million valuation. So, he is out.
Daymond John offered $100,000 for 80% equity, focusing on licensing the name. McCarthy felt that 80% was too high.
Barbara Corcoran liked the product’s packaging but decided to opt out.
Robert Herjavec said that the product is a licensing deal and, instead of smelling like money, it smells like failure. He is out.
McCarthy still had Daymond’s offer on the table, but McCarthy said he couldn’t agree to 80% equity. As a result, Daymond John decided to withdraw his offer.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Mark Cuban | No Offer |
| Kevin O’Leary | No Offer |
| Robert Herjavec | No Offer |
| Barbara Corcoran | No Offer |
| Daymond John | $100k for 80% equity |
| Founder’s (Countered) | No Counter |
| Final Deals | No Deals |
Liquid Money Shark Tank Update
The Sharks did not believe that the company’s valuation of $2 million was justified, leading to four Sharks declining to invest. However, Daymond John was interested in the product name trademark and offered $100,000 for 80% ownership. McCarthy declined this offer.
After the episode aired, the product gained significant attention online, and thousands of people placed orders for McCarthy’s Money fragrances.
As of August 2024, he has launched two new fragrance lines, “His Money: Make It Rain!” and “Her Money: Make It Rain!” The company is still in business and generates an estimated millions of dollars in revenue each year.
Founder Patrick McCarthy is currently working as a Strategic Account Executive at a technology company named Red Hat.
Check out Shark Tank Season 3 Business Update.
Recent updates on businesses featured in Shark Tank Season 3 are available for your visit.
