Tag Archives: 12’s

What happened to Brake Free from Shark Tank Season 12?

In Season 12’s Episode 8 of Shark Tank, Brake Free was introduced by two of its founders, Henry Li and Alex Arkhangelskiy. The other three co-founders, Ian Dunn, Trevor Leger, and Johan Boot, were absent from the episode. Arkhangelskiy started the pitch by highlighting the excitement of riding motorcycles while also acknowledging the inherent danger. He mentioned that he and his partners created Brake Free because they have families and are concerned about safety. The “Shark Tank” investors were initially impressed, but had reservations about Brake Free’s request for $200,000 in funding in exchange for a 10% equity stake in the company.

The “Shark Tank” investors quickly acknowledged that Brake Free was a great idea and inquired about its functionality and whether it had a patent. The Brake Free presenters explained that the device costs $169.99, uses smartphone-like sensors to track movement, and has a patent. However, Kevin O’Leary, Barbara Corcoran, and Lori Greiner declined the opportunity to invest in Brake Free, leaving the presenters disappointed. Luckily, Robert Herjavec was willing to provide the requested $200,000, but he wanted a 20% equity stake. Mark Cuban also expressed interest in the company, leading to a partnership between Herjavec and Cuban. Brake Free ultimately accepted the deal for $200,000 with a 20% equity stake.