Why An Allergy Entrepreneur Turned Down $4 Million And Shocked
Pretty ballsy, but look at that exposure.
Pretty ballsy, but look at that exposure.
Guy turns down $4m Shark Tank offer
- Thread starter TheCheesePolice
- Start date
I don't consider that ballsy.
He knew what he had and wasn't going to give it away.
90% of the people that go on shark-tank or even private VC meetings don't have that kind of traction.
If you read the interview, he had a number in his mind that he would sell for (10m + royalty), so why sell for less? Just a smart businessman.
This is not the same as snapchat turning down a gabillion dollars. This business actually has substance.
He knew what he had and wasn't going to give it away.
90% of the people that go on shark-tank or even private VC meetings don't have that kind of traction.
If you read the interview, he had a number in his mind that he would sell for (10m + royalty), so why sell for less? Just a smart businessman.
This is not the same as snapchat turning down a gabillion dollars. This business actually has substance.
I think this guy was on ST years ago.
Actually bought some for my dad to try. He didn't like them as he already has allergy problems and it made it that much more difficult for him to breathe. It is tough to get them into the right positions as well.
Actually bought some for my dad to try. He didn't like them as he already has allergy problems and it made it that much more difficult for him to breathe. It is tough to get them into the right positions as well.
That interview sucked, didn't even talk about his numbers now and if he even ended up closing the deal with the sharks.
You do realize he gives up equity just to be on the show whether or not he takes a deal, right?
Think they changed that since Mark Cuban threatened to leave the show. I think it also applies retroactively to previous contestants.
Not anymore. Cuban went to the mat to get that removed, even retroactively.
eidt:
Oops. Ya, that.
Huh? So $4 million for 100% wasn't good enough for him, but 30% for $750k + 10% royalty was fine and dandy with him?
Someone has shitty math skills here, because that doesn't make any sense at all. $4 mil wasn't good enough, so he went with a $2.5 mil valuation instead, and that's not counting the 10% royalty. He's going to probably have to profit over $2,5 mil before he even breaks even with that $4 mil offer. Sure hope he believes in his product.
Someone has shitty math skills here, because that doesn't make any sense at all. $4 mil wasn't good enough, so he went with a $2.5 mil valuation instead, and that's not counting the 10% royalty. He's going to probably have to profit over $2,5 mil before he even breaks even with that $4 mil offer. Sure hope he believes in his product.