Shark Tank’s Naomi Simson rips into fellow shark Steve Baxter after making ‘ridiculous’ lowball offer

SHARK Tank’s Naomi has turned on both a contestant and another judge after making a “ridiculous” offer that left everyone floored.

BUSINESSWOMAN and Shark Tank “shark” Naomi Simson rips into a contestant and a fellow judge after making an incredibly low offer on this week’s episode of the show.

On Tuesday night, Annas “Ace” Ahsan pitches his spice business to the judges, seeking $80,000 for a 10 per cent stake. The business is valued at $800,000.

While four of the sharks decline, Simson — who made her name with online gift experience retailer RedBalloon — makes a lowball offer of $80,000 for 50 per cent of the business.

The other sharks aren’t shy in calling out the bid, with shark Steve Baxter telling Ahsan to “run scared”.

Ahsan counter offers: $80,000 for a 25 per cent stake with the guarantee of Simson getting her money back within two years — otherwise her stake increases to 35 per cent.

Simson immediately pokes holes through the new proposal.

“You’ve said, ‘Here’s 25 per cent but if it doesn’t work out I’ll give you more,’” she said.

“Now, that is a disincentive for me to grow your business because I’ll end up with more. You see, what you want from me as a business partner is to grow your business. So I want you to be in 10,000 retail outlets within 24 months. But if I do that, I’ll miss out on my next 10 per cent.

“So you’ve actually offered me a disincentive to grow your business. So I’m going to pretend you didn’t say it. Because that’s the way a partnership starts — by looking after each other.”

Ahsan sweats as Simson stands her ground, refusing to budge from her original offer.

Simson calls Ahsan out on his counter offer.

As a visibly nervous Ahsan stumbles and begs Simson to lower her proposed stake percentage, fellow shark Steve Baxter jumps in to mock Simson’s offer.

“Let’s face it, what you’re being offered is an opportunity to get on RedBalloon,” Baxter snips.

Simson takes offence at the jibe and immediately turns on Baxter.

“Excuse me I would never put this on RedBalloon! That is not what this is about! That’s irrelevant,” she shoots back.

“I have no intention of turning this into an experience gift! So that is not my intention! I’m talking about retailers.”

As Baxter encourages Ahsan to turn down the “ridiculous” offer, Simson stands her ground.

“If you want to listen to him then go right away but the deal will be off the table,” she tells Ahsan. “I know what I bring to the market. You either want it or you don’t.”

Ahsan makes his decision tonight.

Shark Tank airs tonight at 7.30pm on Ten.

Simson stands her ground in negotiations on Shark Tank.

Originally published as Shark Tank’s Naomi Simson rips into fellow shark Steve Baxter after making ‘ridiculous’ lowball offer