Motorcycle apparel company GoGo Gear secured a $300,000 investment for 65 percent equity from Daymond John in an episode of ABC's "Shark Tank" that aired Friday.
Arlene Battishill and Desiree Estrada originally asked for a $300,000 investment in the company for 15 percent in equity. However, after the first four "sharks" dropped out, and John appeared to be on the fence, Battishill and Estrada upped the ante a few times, ending with a 65 percent counter offer. John is the founder, president and CEO of clothing company FUBU.
John later tweeted "2 b honest, the GO GO Gear ladies frm #SharkTank have been amazingly focused business women. Im glad I did the deal. Ppl grow and learn."
Battishill later posted in a blog on the GoGo Gear website, Scooter-girls.com, "If it weren't for a great product, we wouldn't be where we are today and wouldn't have the interest we do. THIS is a testament to how you turn adversity into opportunity and how when bad things happen in your life, like a job loss, you make choices and say I will NOT be a victim of circumstance or the economy, you defy the odds simply by believing that ANYTHING is possible and then do something about it."
Battshill said during the episode that GoGo Gear currently has 25 U.S. dealers.Click here for reuse options!
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