Fox Lane Grad Dives Into The 'Shark Tank' And Bags A Whale

BEDFORD, NY — A Fox Lane alum waded into shark- infested waters and by the time filming was over, he and his partner were wearing shark-tooth necklaces.

Fox Lane High School Class of 2016's Sam Chason was in the hot seat on ABC's Shark Tank Friday night, presenting his business, Storage Scholars, which he started while attending Wake Forest University, to the notoriously fickle investors on the panel of the hit show.

During his freshman year at Wake Forest University, Chason said he saw a need for a better campus storage solution for international and out-of-state students. That need, combined with his desire to pay off his college loans as quickly as possible, inspired the creation of Storage Scholars.

On Friday night's episode of Shark Tank (Season 14, Episode 4), Chason and his partner, Matt Gronberg, pitched the celebrity investors with a lot of enthusiasm. The pair was peppy and animated and the segment had drama worthy of prime time.

The duo were seeking $250,000 for 5 percent of their company.

Warning: Spoilers follow.

The judges had a lot of questions. The young entrepreneurs were asked which colleges they work with, where they are currently, how much the total move is, costs, custom-built technology, their background, ages, whether they ever took money from anyone before, whether they work full-time, the amount of storage at their biggest school and at their newest schools and how they planned to build on that foundation.

The panel seemed impressed by how they built the business while in school to graduate debt-free. They were even more impressed by the company's reported $1.826 million in sales last year.

Kevin O'Leary offered $250,000 for 20 percent of the company.

While Lori Greiner called the concept a "great idea," she passed, saying she thinks valuation of the venture needed evaluation.

Robert Herjavec said he was impressed by their "business sense and maturity," but thinks they need to go faster and said more money will help with that. He offered $500,000 for a 20 percent stake.

Daymond John initially matched Kevin with $250,000 for 20 percent. He later jokingly said that he and Robert would offer them $250,000 apiece for 40 percent.

Mark Cuban, meanwhile, offered $250,000 for 12 percent, saying that he has a platform and connections with schools that could be worth as much as his cash investment.

Chason and Gronberg whispered to each other, before telling the judges that it was a "dream come true" to be standing in front of them.

The two made a counter offered and asked Cuban if he would be willing to do $350,000 for 8 percent. Cuban quickly said no.

He said maybe 10 percent, but he is offering them something they can't get elsewhere. They asked if he would go up to $300,000 for 10 percent. Cuban countered with his initial $250,000 offer for 10 percent and to not worry about their valuation.

He told them that $50,000 is not going to change their lives. The young entrepreneurs agreed and hugged him.

"Mark gave us the deal that we were looking for," Chason said. "And we're just over the moon. I'm speechless right now."