The sharks’ eyes lit up when Brian and Jamie Ratner started talking numbers.
Their family deals company generated more than $5 million in gross revenue and posted $700,000 in net income last year, the husband-wife team told the investor panel on Sunday night’s episode of ABC’s “Shark Tank.” The Potomac company, CertifiKid, has scored more than $30 million in sales since launching in 2010, they said. And they wanted a $600,000 investment in exchange for 8% of their business.
Until that point, the sharks seemed dubious, perhaps because the daily deals space has seen its share of tumult. But the co-founders had their attention — and the deals rolled in from there.
Daymond John offered $600,000 for 17.5%. Barbara Corcoran said she’d put up the same amount for 25% with the contingency that they turn it into a franchise. “I could make you a fortune,” she promised. Lori Greiner took herself out of the game, saying they shouldn’t give away any equity. And Mark Cuban saw too…Read the full story from the Washington Business Journal.