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Startups are on the rise, with entrepreneurs presenting several out-of-the-box ideas onShark Tank.Not only this but securing an investment on the show can be a game changer, and one company proved just how powerful that can be. Founders Steve Watts and Angela Ferendo brought their startup Slyde Handboards toShark Tankand managed to grab the attention of Mark Cuban and guest judge Ashton Kutcher.
The duo was highly impressed with the product and jointly agreed to put in a huge investment. This obviously turned out to be a successful deal for Cuban and Kutcher given that Slyde Handboards experienced a meteoric 300% rise in sales.
How Slyde Handboards turned out to be a great deal for Mark Cuban and Ashton Kutcher?
Several pitches make their way onto theShark Tankstage, however, only a few turn out to be quite successful for the five venture capitalists. On the same subject, in the past, billionaire Mark Cuban regrettednot investing in Chef Big Shake.However, this investment turned out to be highly successful for the minority owner of the Dallas Mavericks.
The company in question was Steve Watts and Angela Ferendo’s Slyde Handboards which made travel-friendly and easy-to-learn wave riding boards. Both Watts and Ferendo appeared in the seventh season of the show, and not justMark Cubanbut intrigued guest judgeAshton Kutcheras well.
But more than the investment, the founders wanted investors who would be hands-on and actively help the company grow. In this, Mark Cuban and Ashton Kutcher were just the right fit and jointly invested$200,000 for a 25% equityin Slyde Handboards.
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In an interview, viaInc. Steve Watts talked about Cuban and Kutcher as he said,“They have supported us every step of the way.”Not only this but he also added:
We are in contact with them on a weekly basis, and although they let us run the business and make all the decisions, to have that kind of infrastructure and contact with them both has beyond what our team ever expected.
While the founder lauded the duo for their support, his company also showcased fantastic growth with an incredible 300% increase in sales. As soon as the duo appeared onShark Tanktheir growth exploded bringing in over eight million potential customers and further establishing their reach in the market.
Ashton Kutcher showcased his kind side onShark Tank
Judging shows likeShark Tankis not an easy feat, especially around businessmen such as Mark Cuban andKevin O’Leary. However, actor Ashton Kutcher took everyone by surprise when he joined the show as a guest judge in season 7. Over the years, the actor has built an impressive track record as an investor backing big names such as Airbnb and Skype.
So, his success comes from a good sense of what people want in today’s world of technology and social media. But what set him apart onShark Tankwasn’t his business smarts but his respectful and supportive attitude. For instance, when McClary Bros. brought their line of artisanal drinking vinegar most of the sharks dismissed the idea and some even mocked it.
But the actor handled everything quite differently and added that just like Kombucha, this can be an acquired taste. When Kevin O’Leary stepped in with his usual harsh comments, the actor toldhim to stop being mean.
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While Kutcher didn’t invest in the product, fans were impressed by his positive and encouraging approach.
You can watch all the seasons ofShark Tankon Peacock.
Sakshi Singh
Articles Published :1436
Sakshi Singh has written over 1,300 entertainment articles, mostly about Netflix shows and reality TV. She’s spent the last two years covering everything from surprise engagements to shocking eliminations and previously wrote for Essentially Sports in their Netflix Junkie division. A self-proclaimed reality TV addict, Sakshi has watched all 48 seasons of Survivor and never misses a new dating or competition series. She loves watching how strangers meet, fall in love, team up, or betray each other - it’s the mix of strategy and drama that keeps her hooked. When she’s not glued to a reality show, she’s usually watching a crime thriller or tracking the next big streaming hit.
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