With “Mix Bikini” still in its early stages, Frank Scozzafava and Adam DiSilvestro surely had their work cut out for them. They arrived at the “Shark Tank” requesting $50,000 in exchange for 5% equity in their business. The Sharks, of course, got to questioning. The entrepreneurs broke down the cost of their bikinis: with each piece ringing in at $9.99, a full set costs around $50 (via Gazette Review). Ultimately, they aimed to take their business beyond the Internet and open up shopping kiosks.
Scozzafava and DiSilvestro claimed that Mix Bikini already had $500,000 in investments, and could potentially license their product to manufacturers. While these ideas seemed promising, it appeared obvious to the Sharks that they didn’t have a clear-cut plan. Before exiting the deal, Mark Cuban explained to the business hopefuls: “We can offer capital, we can offer guidance, but we can’t set the path for you. What you guys have, is a product and an idea, and a hope.” (per Shark Tank Blog)
For this reason, Mark Cuban, Kevin O’Leary, Robert Herjavec, and Daymond John were out. The only Shark left standing was Barbara Corcoran, who saw potential in Mix Bikini. The successful businesswoman has revealed what she looks for in a person before investing, and it appears that this spirited duo had it. She offered Scozzafava and DiSilvestro $50,000 in exchange for 25% equity, which they heartily accepted.
Post source: The List
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