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OnShark Tank,entrepreneurs often face tough decisions and even tougher critiques from the Sharks. But sometimes, a bold move can pay off in unexpected ways. That’s exactly what happened with Ride FRSH, a car air freshener company that caught the attention of billionaire Mark Cuban and not in the way the founders expected.
During a tense pitch, the company’s founders, Donovan and Trey Brown, used a surprising tactic that made Cuban walk away. However, their risky marketing choice ended up working in their favor, leading to a deal with another Shark.
Ride FRSH’s risky move that made Mark Cuban say no to the deal in minutes
OnShark Tank,investors often turn down pitches for reasons like weak business models or poor marketing strategies. However, during one memorable episode,Mark Cubanwalked away from a pitch in less than two minutes not because of a bad idea, but because of what he saw as“the dumbest marketing move ever”viaCNBC.
The pitch was from Ride FRSH, a Los Angeles-based car air freshener company, whose founders made a risky but intentional move that caught Cuban’s attention.
Brothers Donovan and Trey Brown, who co-founded Ride FRSH, had been doing well, generating over $750,000 in annual revenue at the time of the pitch. However, they made a critical mistake early on. They handed Cuban an air freshener featuring the Golden State Warriors logo. Given that Cuban owns the Dallas Mavericks (current minority owner), the move seemed like a direct challenge.
Cuban said, tossing the air freshener aside“You got to read your room. Wrong move, wrong time.”But as it turns out, the brothers had a plan. They didn’t have any air fresheners featuring the Mavericks logo, so they used the Warriors logo to provoke Cuban and get a reaction.
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Ride FRSH had made $1.1 million in revenue over three years, mainly due to its subscription model. They were also in talks with major retailers like AutoZone, which could help distribute their products to thousands of locations. However, not all Sharks were sold on the pitch and Lori Greiner quickly backed out, saying the product skewed too much toward men.
All the other judges backed out as well, butBarbara Corcoranstepped in. Though she initially hesitated, Corcoran saw potential in their retail plans and the way they were addressing rising customer acquisition costs. She offered $200,000 for 25% of the company. After some negotiation, they settled on 20% equity, and the Browns walked away with a deal.
Mark Cuban talks about his missed opportunity with Musical.ly
Mark Cuban recently opened up about his missed opportunity to invest in the app that later became TikTok. Before TikTok, the app was known as Musical.ly, and Cuban recalls his interest in it during its early days.
In aninterviewwith social media personality Jules Terpak, Cuban shared his excitement about Musical.ly. In this, he particularly talked about its live streaming feature, which allowed users to connect with thousands of people in real-time. He added:
I remember when it was Musical.ly and I tried to invest… Oh my god, I loved it because I could just turn it on and there would be 15,000 people live immediately that I could talk to.
However, Cuban’s attempts to get involved financially were unsuccessful. He explained that Musical.ly wasn’t seeking additional funding at the time. The app later merged with TikTok, which was acquired by the Chinese company Bytedance for over $800 million in 2017.
Despite not being able to invest in the platform, Cuban, who had initially joined TikTok to see what his kids were watching, said he enjoyed the app’s early vibe. He appreciated the sense of fun and authenticity that Musical.ly and TikTok fostered.
Mark Cuban or Robert Herjavec? Shark Tank Fans Vote on Which Shark Made Their Fortune With The Most Honesty
While it’s unclear how much Cuban wanted to invest in Musical.ly or what that investment would be worth today, the billionaire has spoken about his approach to investments onShark Tank.Cuban has made several investments on the show, totaling nearly $29 million.
You can watch all the seasons ofShark Tankon Peacock.
Sakshi Singh
Articles Published :1435
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.
