Eterneva is the brainchild of Adelle Archer and Garrett Ozar, who pitched the sharks on Sunday's show, asking for $600,000 for a 5% stake, which values the business at $12 million.
“This is about a remarkable person; someone full of hope and joy,” Archer said as footage of a woman killed in a car wreck, and mourned by her mother, played on a screen. “We’re eternalizing remarkable people, and this is how you will take them with you on the rest of life’s adventures.”
The concept, which generated $913,000 in sales in their first year, initially wowed and shocked the sharks, and left Kevin O’Leary asking the real question: “It has to be cremation, obviously, or can you take a piece of somebody out of a coffin?” (The other sharks winced.)
What didn’t wow them was the discovery that Eterneva had already raised $1.2 million through a round of investors at a $10 million valuation.