Could you imagine walking away from a 'Shark Tank' deal?
These businesses did just that. But why?
Coffee Meets Bagel owners, sisters Arum Dawoon, and Soo Kang, walked away from a $30 million dollar offer by Mark Cuban to have interest in their unique dating site.
Arum and Soo still got funding however after their episode aired and tripled its user base. It turns out, they had something in common with the other business owners that turned down the sharks.
A crucial decision many businesses looking for funding have to make at some point in their life-span is to seek funding to scale growth. These businesses had to decide if giving away a huge chunk of their company over to a third party investor was worth the financial investment to grow. Handing over a large part, sometimes even majority share, of your business can change the landscape of your vision dramatically. It requires a lot of courage to decline a $30 million dollar offer.
Check out the complete article HERE. What is your opinion? If you were any of these businesses would you have done the same thing?
FURTHER YOUR PURPOSE and join thousands that SUBSCRIBE TO MY NEWSLETTER.
No Spam. Ever. Emails are never shared.
If you enjoyed this article please share it with friends. It is gratifying to know that people want this information and it motivates me to produce great, relevant content for you. We all benefit.
Also, take a moment to follow me here: www.facebook.com/johnktoma