Shark Tank: Trunkster, Innovative Luggage Product, Accepts Deal With Mark Cuban And Lori Greiner $1.4 Million

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www.indiegogo.com

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Last into the tank is Trunkster, zipperless luggage, seeking $ 1.4 million for five percent equity.

Their luggage allows easy access with a roll-up door and USB ports for easy charging. The cost starts at $ 325 and they have raised over $ 1.5 million. They have pre-sold over $ 2 million worth of luggage.

Lori Greiner finds it a clever product and they all acknowledge their gargantuan valuation. The sharks question whether they can be more flexible with their valuation, which they are willing to be.

Barbara Corcoran is the only shark to be open about not liking the luggage for its masculinity, weight, hard shell and lack of feedback. She goes out.

Robert Herjavec offers 30 percent for the risk involved, which O’Leary wants to partner on. Herjavec declines. O’Leary then offers 37 percent instead.

Greiner can see the growth and expansion of the product but worries about losing money. For that reason she offers the $ 1.4 million to fund purchase orders, in addition to 15 percent equity. Mark Cuban is willing to partner with Greiner.

They counter back a royalty of $ 1 per unit until the money is paid back with the original offer of $ 1.4 million for five percent.

Final deal: Mark Cuban and Lori Greiner for $ 1.4 million for five percent with $ 1 royalty until the money is returned in full.

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Lyft now does 7 million rides a month. Wasn’t a huge spike in alleged attacks supposed to inevitably come with growth?

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It was a mixed week for Lyft. And that’s pretty much life as Lyft, isn’t it?

The only surviving number two ride sharing company in the US, but a David that mostly refuses to pick up the rock and put it in his slingshot and score a point against Goliath. Lyft: A company of which we constantly wonder: Do they actually want to win?  

On Tuesday, Reuters reported that Lyft was on track to hit $ 1 billion in gross revenues this year, boasting more than 40% market share in its home market of San Francisco.

Then, the next day, Bloomberg obtained some leaked Lyft documents and spun a different story: One of missed revenue targets and escalating marketing costs, presumably, to gain all that market share…

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