Shark Tank US | Mark Cuban and Kevin Hart Team Up For The Players Trunk Deal
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- Опубликовано: 18 ноя 2022
- Austin Pomerantz and Jason Lansing are seeking $650k for a 5% stake in their company The Players Trunk.
From Season 13 Episode 24
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Shark Tank US | Mark Cuban and Kevin Hart Team Up For The Players Trunk Deal
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Having an NBA owner on board would have instantly blew up their business. How the hell did they not see the value in that.
Seriously. That alone would've been huge, then throw in Kevin who's friends and business partners with some of the biggest players in the NBA. I mean, is there a ball player on earth that Kevin and Mark couldn't at least get a meeting with? Talk about not thinking big picture. I wish them well and hope they prove everyone of us wrong, but I have a feeling they're gonna spend the rest of their lives regretting it.
@@topspot4834 STRAIGHT FACTS
It was about the low valuation and other investor that made them turn it down. I wonder how much equity they have/gave away
In this case it's hard because they already have four main investors and others. They have little room to negotiate.
because of their strong attachment to the valuation. they missed out big time... I would have tried to counter at 20% and fought hard to stay there.. 7.5% was an insult for the two to share that lol
ANDDDD now they own 95% of a grape.
Lmaoo yeah
7:03 They should have countered at 20%...the fact that they were only willing to part with 7.5% shows that no deal was ever going to get made...
I thought they would! Damn these bozos 😆
Its because theres 4 of them already. With that deal they could've been looking at 15% ownership because they already had an investor and then the sharks would've owned the company.
I agree and thought they would have done that. 20% would have been fair. Maybe up to 25%. Now.................
@@Easy420skate 15% of a Kevin Hard + Mark Cuban brand is more valuable than 50% of a literal who Chicago VC brand.
@@user-lr4bo that's their own judgement
They missed the advice from Mark: "70% of a watermelon is a whole lot better than 95% of a grape."
The athlete said it with mark
Timestamp
6:00 just as he said it
They need to start officially calling this the five percent rule. Anyone coming in with that much of a valuation is just seeking the publicity and not an investment.
That's not true, they were already valued at $10 million from actual money invested. They raised it a mere 30% without valuing shark advantage, not for seeking publicity.
Their counter offer was 750000 for 7.5 😂lol..i don't think they came in looking for a deal
Facts
@@levizo9392 but they were paid 1000000 for 10.0 before, so obviously they were looking for deal..
@@levizo9392 they weren't looking for a down-round, not not looking for deal
The face of the actual athlete tells otherwise. He wanted that deal but the others were too proud. They failed to see the true value that the sharks bring.
Facts
Absolutely! I felt like it was one person talking that made the decision! I felt like it wasn’t a mutual agreement between all of them! That deal should have went through, it was an amazing deal.
same exact thought
He should have spoken up then if that was the case
This was possibly the biggest mistake i seen someone make on Shark Tank he owns an NBA team and the other one is kevin hart i'm absolutley blown away 🤣
Mind blowing
They are going to see this upload, read the comment section, and realize what an abysmal mistake they made that day. Greed is a disease that will come back to haunt these young men. I always say, when MARK CUBAN offers you a deal, you take it. People are so caught up in the percentage of ownership in the company they don't see the big picture. Mark isn't wrong. 70% of a watermelon is much better than 95% of a grape. You live and you learn boys.
Facts and people think just because they sell over a mill they’ll make over a mill. I see a lot of these small businesses chasing revenue instead of margins, profits and longevity. Mark and Kevin could have blew this company up. Now they’ll just be squashed like the cockroaches they are as Kevin would say 😂
Problem is that they already received capital based on a 10mil valuation. If they offer more equity, they are offering the sharks a way better price than their original investor, even though the original investor was the one that took on the risk. Usually it goes the other way around. I know the sharks are more valuable, especially in this case. They should have done the deal. I don't think they were acting out of pure greed; they're just young.
@@anovosedlik yeah, they should of took the deal. If the other investors did not see the value they could be bought out, refunded capital if you will, which could be bought out by other investors that think working with Kevin and Mark is the right path, or by Kevin and Mark themselves.
That was an awful deal
Probably one of the quickest decision made by a pitcher/pitchers for this show. They should've thought about it LONG and hard, AND made the deal with Mark. This space is very competitive.
Kevin with the heartfelt goodbye always delivers in the end. Bozos lol.
They really were bozos
bozos 💀💀
7:25,
They fumbled the bag soooooo hard, I was gonna say even at 50% they should have taken the deal. To have both a celebrity Kevin hart and and nba owner for 30% is a dream. They would have pushed this company everywhere they go and made it worth something.
Damn yall would sell out for anything. Go ahead and give them 80 percent
@@polloloco6496 more like we'd rather make more money than less money, the brand would be bigger with mark and kevin than it ever can be without, 70% would be worth more than 95
@@polloloco6496lol would you rather have 90% of $200,000 or 70% of 2,000,000
@@ronanbellis4775 bruh theres already 4 owners that are splitting percentages. They're all just keeping eachother's cut.
@@polloloco6496 thats why your broke
MADNESS! They should have taken that in a heartbeat.
Right!? Wow
"Hartbeat" 😎
@@oludotunode he spelled "Heartbeat" correctly...so why did you spell it incorrectly?
@@jordansmithyu-gi-oh2224 tell me your joking lol
@@do8mdaddy bro he has to be joking 😂
The black dude face at the end says it all 😂😂. I actually feel bad for them. 😩🤦🏾♂️
thats racistphobic
@@daruiraikage u can't be serious...
I feel bad for just him because it seems like he would have taken Mark’s and Kevin’s offer. The other 3 guys not so much.
@@illenium2929 a proud black man dont accept no blood money from no white man
@@illenium2929 yea it seemed that way.
They fumbled a bag 😂
fumbled haaaard
I’d have countered with 20% with the hopes that mark and Kevin would’ve met in the middle at 25, but 7.5 for 2 sharks? Absolutely not!
Lmaoo they would never agree they already said there is no counter
@@uddhavramgolam9743 Sharks say that all the time and they accept many of them
They were ether capped at how much they could give to the sharks by there other investors or they only came on this show for the publicity and never planned on making a deal.
They had an NBA OWNER on board and blew it. LMFAOOO💀💀💀💀💀
They now have a networth of 1.5 million. Could have been a whole lot more with Mark and Kevin though imo.
They have 1.3 million in sales. Most of that did not go into their pockets. Plus, they had to invest 650000 dollars which takes away from the 1.3 million. Their investors need their cut as well.
Their customer aquisition costs would be heavily reduced, maybe even athletes seeking them out with Mark and Kevin backing.
@@billyhndrsn4542 They already do have Pro athletes on their side.
@@snowflakehunter this is college athletics, not pro athletics. The sharks have pro athletes as employees and friends. This group of men are trying to open the college athletics business, pro sports are a whole different legal issue. Pro athletes may be interested by selling merch of their old college numbered jerseys, hats, etc.
@@billyhndrsn4542 Do you not understand??? They have Pro athletes that were previously college players that endorse them. They sold some of their college jerseys through them and they now are endorses of the business. Do your research.
I think the issue was that their first round was at a $10 million valuation. My gut feeling is that their current investors told them how much they could offer the sharks. They couldn't take Mark and Kevin's deal because the first investors would have gotten crushed in dilution and it would have been embarrassing for them to have paid so much more (depending on the type of deal - straight equity, convertible note, etc.). Unrealistic early valuations are a killer and can crater a company.
Yes but Kevin hart and Mark are big names especially with the connections they have
The sad part they value their investor way more than Mark and kev can bring. If the investor bought it on a 10m evaluation then having both sharks can grow it to a 50m thats a win for me if you ask me.
There are anti-dilution clauses too that the existing investors would exercise if they accepted this deal, in which case owners would lose a bit more of the company.
This is actually so sad to watch. 90% of 200k is nothing compared to 70% of 200 million. I'm hoping they came for publicity and not to make an actual deal. Because it's no way they just turned down two of the biggest men in the entertainment industry.
Not just the entertainment industry, one of the is in the sports industry to say the least; which is like....everything to these kid's company. They even said relationships are everything. Why they didn't form one with MARK CUBAN is beyond me.
Exactly now they will be stuck with earning 300k or even 1 million when mark could have gotten them make more money than ever
7:55 “no regrets at all” meanwhile the guy on the left 😂
I don't often think people are stupid for leaving without a deal on their terms.... This is one of those times
Mark and Kevin could of used Kevin's line "what's stopping us from starting our own company taking you out of business and hiring you to be sales reps for our company going to schools to recruit players?" You can tell that the athlete was the only one that was all-in for the deal with Kevin and Mark. The other 2 were "wait what just happened this wasn't part of the plan." And the one speaking realizing that in the long run he might of costed the team a great opportunity. ("might" is giving them the benefit of the doubt.)
Mark and Kevin using Kevin's cockroach line would've "convinced" them to take the deal.
"We can start our own company and crush you like the cockroaches that you are"
But, that might bring badblood if the deal was to close.
maybe you don't understand percentages and ownership, theres four of them and one already known investor. With that deal they could've been looking at 15% each as a "owner".
@@Easy420skate Yeah because 25% each as a owner of some no name brand is so good.
guy saying "i have no regrets at all" at the end, and the other guy to the left of him is thinking otherwise while shaking his head... kevin was right to call them bozos.
LMAO... the actual athlete in the group was distraught. I can't believe they didn't take this deal with open arms. They should have been in a huddle around Mark and Kevin jumping in circles on that stage.
I can't believe the athlete keep his mouth shut instead of saying something
@@FlecheNoire07 they might just using him
@@FlecheNoire07 dude was always quiet on the court unless he was dunking. Needed to speak up there for sure
VC has 10% Mark and Kevin would of had 15% each. That's 40% already, and not sure how these boys have their shares, but if its equal split, then they would have 15% each. Same shares as Kevin and Mark.
Damn. This would of been cash flow for life. They would of just sat back and collected after a couple years of grinding until this thing was just printing money for them.
If it's that easy of a cash flow, Kevin and Mark could just start it tomorrow. Hire some COEs and sales and make millions. They haven't so its not that easy.
*would have :)
By the end… 3 of the 4 guys looked like they were bleeding ‘regret’.
Guy on the far left was simply amazing during this pitch
Ha. He countered 2.5% more My lord these guys just blew it. Wish them the best though
They weren’t here for a deal. They were here for the publicity of being on the show
@@triiii1303 seems like a waste of time for everyone involved. I'd imagine a shark working for you is far more effective than 15 minutes of fame and a questionable outcome of what is essentially a commodity.
If I were them I would have looked at Cuban right away and said you know damn well how big this can be let’s make a deal.
With Kevin Hart, you get an internationally known (and loved) spokesperson. Then, within the sports and business world, Mark Cuban is a legend too.
As others have noted, the other investors may have put a cap on the amount of equity that the guys could offer. If it had just been the four guys alone, I think they would have negotiated differently. I think they knew what they left on the table - but they did promote their product very well.
I thought a better idea would have been to counter both of them at 1 million for 20% with both of them getting advisory shares at 2.5 each
Did you not listen? Mark said there is no counter....
@@Moon_Presence before he said that.
Mark said no counter offer would be accepted.
@@bundleadjuster Would not have mattered. Mark was steadfast from the get-go.
Yeah the guys just froze up. I'm surprised nobody started coming up with more creative deal structures.
7:22 the awkward silence 🤣🤣
HAHAHAHAAH waduhek they are thinking.. Kevin and Mark on the same team? That's the dream team of business partners
Well that wasn’t the smartest move. They should’ve taken that deal before either one of them finished their sentence
I'm guessing they had a huge argument on their way home and the short guy couldn't sleep because he felt responsible and stupid, especially after everyone around them knew they turned down the two sharks they needed the most. Oh my God...confidence is good, but anything too much is not. SMH
Most likely accurate I guarantee they argued eventually lol
Kevin : I don't do stupid deals.
Also Kevin in 2022 : FTX
He got 15 million out of FTX
Id give mark and kevin 5% each for free just to have their names in there
Seriously
I can’t believe they turned that down
I wouldn’t even say they turned it down they made a ridiculous counter which told both of them they weren’t valuing their interest or taking it seriously. When someone gives you an offer and you want to counter you at least go halfway between yours and theirs, a counter of 17.5 or 20% may have kept it going
@@themusic6808 Ya I get that but the opportunity to be with mark cuban and Kevin hart in the type of company they had would have been worth giving up some equity
they were just tryna get clout
7:55 lmao dude on the left like these clowns ruined my future
I can’t believe they rejected that offer, you literally get an NBA owner, and Kevin Hart who is awesome 😭
Barbara: you came in to make i deal. I dont make deals so for that reasons im out 😆
Yeah what is that
@ali gundogdu - your Barbara joke is ... NOT funny!
No barriers to entry. Open your own e-bay store. Get your own teammates and school's athletes on board each year and take 5% of every sale. Why give 20-40% to these 4 guys??
Since there is nothing proprietary about it, Mark and Kevin could spend that same capital and literally start their own; tapping into their networks and contacts right away. I feel for the guys making decisions based on their previous funding round valuation but seems like an opportunity missed.
They will regret it for the rest of their business life. The fact that Kevin and Mark teamed up to make this business work will definitely secure their business and future. However, they didn't see the longg term value of having these 2 as partners but rather focused on the money.
WE NEED MORE KEVIN IN SHARK TANK KEVIN HART
If they had issues with the equity they should have looked into a royalty, commission or line of credit deal with Mark and Kevin instead.
They’re so awkward just standing there like:🧍🏾🧍🏻🧍🏻🧍🏻
They could’ve countered with 20% and all been 5th partners and if they would of said no 25% you say yes cause it’s Mark Cuban and Kevin Hart like how they fumble that😭
"Nah he's a bottom feeder is what he is."
- Barbara 🤣
Kevin would've been a huge celebrity to sponsor the brand & Mark has the NBA connections. These guys BLEW IT!!! Wow.
Honestly the only things I can think of is either the firm they were with wouldn't let them give up that much equity, or the % of ownership they already had would have gone down to low, if the other investor wasn't willing to be diluted , so if they sold already 12.5% - another 30% divided by 4 (assuming they are all equal partners already) this would have given each of them 14.3% and mark and kevin wouldve owned more of the company than them, at least as individuals.
Still doesn't make much sense to not make a better counter offer than what they did though. I'd have offered 20% for 650, at least knowing that it wouldve gotten shot down.
600k for 20% still more reasonable than 750k for 7.5%
They're value more the money of the VC. They're too dumb to realize that
Dude just said he is an NBA owner and they could have two sharks, turning this down was the biggest mistake they could do
Like Fred Sanford used to say: "ya big dummy!"
I feel bad for them 😔 they lost a HUGE opportunity!
feel bad? they did that to themselves theres nothing to feel bad about
Why? They were clearly there for exposure and not planing on making a deal.
@@iiCamaxtliand getting called bozos on TV hehhe
If they were the only company or one of a few in this space maybe I could possibly see how they turn down that offer but dam that was a major opportunity to stand out as a front runner WOW good luck fellas
The six of them would have been at 15% each. The VCs own the last 10%.
Damn, the one guys face at the end. I actually feel bad..
I was ecstatic when i heard the NIL deal was being granted to players, they all deserve it
no they dont...they got paid education which is not cheap.
They blew it omgggg
This is dope , I played against Charles Mathew in high school . He played for St. Rita in Chicago
Leave it to Mr. Wonderful to crush somebody's self esteem.
So they already did a funding round. They were mostly likely told how much they could negotiate.
THAT BEING SAID, the televised conversation isn't always the end result. They could have come with instructions to see if Mark Cuban was interested, and if so, secure him. That might happen off camera.
I’m sure Mark and Kevin would’ve negotiated somewhat despite then saying “Take it or Leave it”. Perhaps these guys could have clawed back 5 or may we even 7.5% equity if they really tried. But to counter at 7.5% and ask for more money is the stupidest thing I’ve ever seen! THAT TOO WITH MARK AND KEVIN! If they were worried about the VC’s who bought in at 10mil then in my personal opinion they needn’t have been. Any VC can see the value of Mark and Kevin and would’ve acknowledged that they will bring more than 5 x the value that they can.
Kevin stay trolling 😂😂😂
The 2nd dude has amazing ears!
The voice crack at .44 seconds 😂
Kevin acting smart 😂 I can’t his face
Having mark and Kevin would amazingly increase their market especially with mark can bring in world class athletes they shouldve taken this deal
stupid decision - they would have "the brand" in that space with marc and kevin . now they will hustle and no athlete will even consider them without begging...with them both it would be like "hey greetings from marc cuban and kevin hart, we want you on the brand" - boom
NBA owner !!! Freaking NBA !!!! Absolutely insane
Their counter was so off base, when sharks are saying no counter the least u can do is ball park it if u decide to still counter
Did they really think mark would go 7.5% ? Omg yes
It was 7.5% for Mark AND Kevin. So it's really 3.75% for each shark. Insane.
Black guy at the end was like FML LOLLLLLL
“Now i think your bozos” best words ever
Ok I always say. If it ain’t right it ain’t right. But jeeezusss how did you even not consider that!? Crazy. I’d gladly give 40% for those 2
At the end their face tells it all
They were smart to walk out without that crazy deal. They are growing a business with athletes' before their professional debut. That provides the "Trunk Deal" and the players controlling interest with future monetary gains. Smart move guys.
Plus they already gave up 12.5% so they would’ve given up 42.5% collectively. So they would be splitting the difference between 4 people…uhhh no they think just cause it’s mark, they should worship him…also Kevin is worthless in this deal
Their valuation was sh*t. I have never seen such a ridiculous valuation. How stupid can they be? It was a very good deal. The value Kevin and Mark would bring to the company would be more than worth it.
I proud of you guys you make a good design
Charles was NOT proud of walking away from Cuban and Hart!! 😮
All 4 of the guys should’ve gotten a say in the decision. It looks like 2 of them are definitely upset that they didn’t accept
Likely to be the fall in their business, ironically not everyone was on the same team coming in for that pitch. They really screwed up.
They going to cry in the car
They were greedy, stupid and too proud to admit being wrong. You can see they tried to use a poker face to get a better deal and when it was turned down they broke out in a sweat. At that moment they should have admitted being wrong and asked if they could go back to the original deal of Mark and Kevin. But as the saying goes, pride commeth before the fall.
Greed is a killer. Should’ve ran with that deal, two powerhouses. Road to irrelevancy.
I would take that deal in a heartbeat. Just me. Perhaps, older and wiser.
So the 4 of them are doing something that is common, not unique or proprietary. They had the chance to align themselves with 2 celebrities, one being an owner in the NBA and the other a famous comedian with access to athletes and they didn't take the deal? It doesn't make any sense. They had the chance to do something that would make their business blow up and could have really made something of it. But now, they may just eventually fade away into the background. And you come in with a crazy valuation like that makes no sense.
They messed up! You could say ...they FUMBLED.
I will give Mark 30% of my business to be my partner with no money. Coz I know he can boost my sales big time. They missed out.
when Kevin said ''You need our Legs'' I Burst out laughing🤣🤣
How CRAZY to not take that deal...wow...
Kevin hart looks like a happy student that likes to take notes
I was expecting them to make a deal at 20%
“Now I think you’re bozoz.” 😂
Good thing they didn’t take the deal. The company is now worth 40 million and on track to have 5,000 athletes on their platform by the end of the year
These guys always slangin them insults 🤣
They had a NBA team owner and Kevin hart and blew it crazy! You can tell the athlete wanted in
BLACK DUDE WAS HEATED!!! 😂😂
Charles Matthewssss bro a 〽️ichigan LEGEND… hope he really succeeds with this
Tell me you’re dumb without telling me 😂😂😂
Imagine getting to the playoffs and being told your team was going to be joined by two super athletes and all you had to do is have a couple of players sit the games out. Then you say: Aah, 😮 I don’t think so.
I agree with what you mean about these guys making a really stupid decision. But your hypothetical scenario sucks. Just because you are offered two "super athletes" doesn't mean that they will mesh well with any random team at the last minute. Also, in your case, the players would just have to sit those games out... and then you get them back? Since THIS is asking for equity in perpetuity, a more alike situation would be in exchange for those existing players to retire.
I would turn that down for multiple reasons.
They said one thing but the looks on the faces told another story
Hunters crooked ears, can't unsee them lol
Why they put the camera on the guy with the big ears When Kevin said “you guys are bozos” 😂😂😂
Some people come on shark tank and straight up insult the sharks. Let’s be honest, without shark tank it would’ve been hard for any of these entrepreneurs to meet or even get a chance to speak to the sharks.