Entrepreneurs seeking investors
|Last night on “Shark Tank” a group of investors came to the tank seeking investments and a partner for their business. This show is a platform for many entrepreneurs to get their product out into the world even if the sharks do not invest; they still got the word to millions by being shown on this popular show. But some businesses are a gimmick and others just are not appealing, such was the case of the group of guys asking for a $1 million investment in exchange for 10% of the business, first of all the valuation was outrageous and then their product according to the sharks who tasted was horrendous.
The concoction was made out of coffee and chocolate, which according to the entrepreneurs was a drink that the Mayans cherished, and Kevin O’Leary, -one of the sharks-, retorted that the drink can not be that good because the Mayans no longer exist; that was one of the highlights of the show.
Mark Cuban, -another shark-, owner of the Dallas Mavericks invested in a company that offers an obstacle course for competitive thrill seekers. But then came an 11 year old, who along with his mother and grandmother designs bow ties and aspires to be as famous as Daymond John, -another shark-, creator of “FUBU” clothing line, and by the age of 20 have his own clothing line. The sharks commended this young man on his entrepreneurial spirit and ambition, however, did not feel that an investor was required at this time. Daymond John, agreed with the other sharks, but did say that he will mentor Moziah Bridges, -the 11 year old- which for the laymen means that without giving up any equity of the business.
Barbara Corcoran, -another shark-, who is a real estate mogul was the only investor in a supplemental pill supposedly helps to focus and improve memory, something that the other investors felt was not right to invest on, since there are no medical trials to substantiate the claim, Barbara nevertheless, felt that it could not hurt based on her husband’s need for medication which he rather not take and instead rely on some type of supplemental or natural cure to his ailment.
“Shark Tank” runs on Friday at 8 p.m. EDT on ABC.