After Dallas Robinson became a high school senior, his main focus was playing outside in the sun and kissing cute girls. However, playing in the sun left his lips dry. He tried many lip balms, but found their flavors disgusting. So, he teamed up with Mike Buonomo to invent Kisstixx, a high-quality lip balm that comes in two compatible flavors—one for you and one for your partner. When you kiss, the two flavors combine, creating a unique chemistry reaction.
They needed money and the Sharks’ connections to grow their business. So, did any of the Sharks invest in their business? Let’s find out.
| Company Name | Kisstixx | |
| Founder/Co-Founder | Dallas Robinson and Mike Buonomo | |
| Founded | 2010 | |
| Product | Lip balms | |
| Asked For | $200k for 20% equity | |
| Final Deal | $200k for 40% equity | |
| Shark | Mark Cuban | |
| Episode | S3 E7 | |
| Air Date | March 2nd, 2012 | |
| Business Status | Out of Business | |
| Website | Visit Website | |
| Headquarters | Spanish Fork, Utah, United States | |
| Annual (Revenue) | $0 *estimated | |
| Worth / Valuation | $1 Million | |
| Buy and Watch | Buy Now | Amazon Prime |
Business Pitch Episode Recap
Dallas and Mike asked the Sharks for $200,000 in exchange for 20% equity in their company, valuing it at $1 million. To test their chemistry reaction lip balms, they invited Barbara Corcoran and Kevin O’Leary to try the two compatible flavors by applying them and sharing a kiss.
Last year, they made total sales of $80,000, with lifetime sales of about $120,000. Kevin asked how the company could be worth a million dollars.
Dallas explained that they received a $540,000 purchase order from the drugstore chain Walgreens to make the product available in 7,500 stores for a Valentine’s Day promotion.
The company spends about $0.86 to $1 to produce each pack, depending on production volume. Currently, the packs are sold wholesale for $3 and retail for $5.99. From the $540,000 purchase order, they made a profit of $337,000.
They sell the product on their official website and in over 100 retail stores. Dallas mentioned that he plans to launch more kissing-related products in the future.
Barbara said, “After kissing Kevin, my gut says a big no,” and she is out.
Kevin does not believe that the business is worth millions of dollars, so he is out.
Mark Cuban asked how the $200,000 would be used. Dallas explained that $167,000 would be used to fulfill the Walgreens order, and the rest of the money would be used for additional distribution.
Mark Cuban offered $200,000 for 40% equity, and he would also provide financial support to help grow the business. Daymond John said that Mark’s offer was better, so he is out. Robert Herjavec agreed that he couldn’t offer a better deal than Mark’s, so he is out.
Dallas and Mike had only Mark’s offer on the table, so they accepted it without hesitation.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Mark Cuban | $200k for 40% equity |
| Kevin O’Leary | No Offer |
| Robert Herjavec | No Offer |
| Barbara Corcoran | No Offer |
| Daymond John | No Offer |
| Founder’s (Countered) | No Counter |
| Final Deals | $200k for 40% equity |
Kisstixx Shark Tank Update
After the deal with Mark Cuban on Shark Tank, the company’s sales skyrocketed, with no signs of slowing down. Within a few years, Kisstixx expanded its distribution to seven countries.
During a Forbes interview, Mark Cuban mentioned that Kisstixx was one of his best deals from Shark Tank. To take the business to the next level, Dallas and Mike launched the Kisstixx app, aiming to integrate technology into their brand.
Due to constant changes in the market, the Kisstixx business could not sustain and closed in 2018. As of September 2024, Mike Buonomo and Dallas Robinson are both partners at the marketing and communications agency, M-7 Agency.
Additionally, Dallas is a Managing Partner at Drink Blocks Company.
Check out Shark Tank Season 3 Business Update.
Recent updates on businesses featured in Shark Tank Season 3 are available for your visit.
