3/16/2023 0 Comments Gift card shark tank![]() While there are some things I wish I had done and said differently on the show, I don’t have any regrets.Īs a result of Shark Tank, millions of Americans now know that fun, sustainable transportation options exist for families with young kids. The stakes were high because you know that, good or bad, it is something that will follow you around for the rest of your life. ![]() We are so excited to have her on board!įilming for Shark Tank was the most difficult thing I’ve ever done in my life. While it wasn’t the valuation I had initially hoped for, I didn’t want to leave the Tank empty-handed, and after a little back and forth, Barbara and I made a deal, and did some air high-fives. It was supposed to be the other way around, but my words got mixed up under pressure, and once the offer was on the table, I didn’t dare change it, for fear of how the other "Sharks" would react. I threw out a counter that was a mix of $100,000 equity investment and a $150,000 line of credit. I knew I wasn’t going to give up more than 20% under any circumstances, so the pressure was on to quickly figure out a way to make the deal a win/win. I countered, but she barely budged and only came down to 33.3%. She’s an avid-cyclist herself, had invested in other bicycle companies in the past, and she had volunteered to test ride The Original electric cargo bikeat the beginning before I could even ask her to. But boy was I surprised when she threw out an offer that was so crazy ($250,000 for 40%) that I was left momentarily speechless.īut I knew Barbara was really interested, so I pushed back. I had come into the tank with a conservative valuation, hoping that I wouldn’t have to fight too hard to justify it. With 4 of the Sharks “out” it was down to just Barbara Corcoran, who was one of the Sharks that I had been hoping to do a deal with. It was a valid point, and although I shared our plans to bring more accessible, lower-priced, custom-designed cargo bikes (like the Bunch Connect) to market in the future, fellow Dallas-area resident Mark Cuban wasn’t confident that we were going to be able to pull it off (time will tell, Mark!) ![]() Although we have exclusive distribution rights for our Dutch-made cargo bike, The Coupe, we didn’t yet have exclusive rights from our Asian factory for our other products and the Sharks were worried that it would make our business difficult to protect from competition. When we got into the details on our supply chain, the Sharks had a lot of criticisms. He was so excited about the bikes that I thought he was going to pull out his wallet and buy one on the spot! (the producers opted to cut most of this out).ĭaymond John on the other hand, said that while he would be a customer, he wasn’t comfortable investing in a company selling premium products at a time when so many people are struggling (and he actually did end up ordering a bike!). I was prepared for Kevin O’Leary to beat me up on the high price of our cargo bikes, but he actually loved that we sold premium bikes with a focus on quality. Overall the Sharks were really intrigued by the bikes, so the energy in the room was super positive. With the strong start I felt confident to take on whatever the Sharks had to throw at me. Thankfully I had rehearsed the pitch so many times, that I successfully delivered it on auto-pilot without any issue. ![]() He has visited 40 of the 50 states and 19 countries and counting.My time in the Shark Tank was a blur. When not working, Kwame enjoys traveling to experience new cultures and food. He currently lives in Carroll County, MD with his wife and three kids. He currently serves as Chair of the Entrepreneurs' Organization Baltimore's Accelerator Program, which helps businesses scale to US$1 million and beyond. Kwame is an advocate for entrepreneurship in the Baltimore area, with a passion for helping aspiring entrepreneurs turn their ideas into thriving businesses. Kwame grew the company to close to $25 million in revenue, making the Inc 500 list once and the Inc. ![]() Prior to founding Thrive, he was the Founder and CEO of Gift Card Rescue, which gained prominence when he successfully pitched his then startup on ABC’s hit show, Shark Tank – and landed a deal. Kwame Kuadey is the Founder and CEO of Thrive Company, a business consulting firm that helps local businesses reach their potential through business strategy, branding, and marketing. ![]()
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