Given Hopscotch’s station in tech circles heading into the “Shark Tank” pitch, Samantha John opened the proceedings with an air of confidence. Heck, early within the pitch, even outgoing shark Mark Cuban sang the corporate’s praises, admitting he and his household had been utilizing Hopscotch for years. But incomes a sort phrase from a shark is simpler than convincing one to spend money on your organization, and after making her pitch, John discovered the majority of the panelists have been cautious of kicking her $400,000 for a mere 4% fairness stake in Hopscotch.
Indeed, many of the sharks have been fast to go on the potential deal, with many noting that they did not suppose John’s plan to change Hopscotch’s income stream from a subscription base was sensible. Being the fan that he already was, Cuban wasn’t so fast to go. Unfortunately for John, the “Shark Tank” star opened negotiations with the dreaded assertion, “I’ll make you an offer, but you’re not gonna like it.” He then provided to stake John the requested $400,000 however requested for a whopping 16% of Hopscotch in return.
True to Cuban’s phrase, John was not significantly sizzling to take the deal, with the 2 promptly embarking on a heated negotiation. In the top, they met someplace within the center as Cuban agreed to entrance John extra capital ($550,000) for an 11% stake in Hopscotch.
