Mark Cuban understood our product the best, but felt we weren’t at a level that he wanted us to be, so he was out. If you look closely into our eyes in the episode, you will see tears welling up as we come to terms with the fact that we will not be getting a signed Luka Doncic jersey.
It looked like the negotiations would end before they even began.
Robert, who was perhaps the least interested in our company and product before the pitch, saw our potential after it. He offered the capital we were seeking, $400,000, but for a 20 percent equity stake, which is four times the amount of what we were offering. We knew going in that our proposal was aggressive, and we weren’t surprised at a just-as-aggressive counter.
We mulled about it and made a bunch of faces. If you haven’t watched the episode, we hope you do. There are some facial expressions there that we never knew we had, and may never have again.
We countered at nine percent, but Herjavec wasn’t interested.
We thought about it some more and after a dozen camera cuts, we declined.
Then, Cuban (who was much more effusive than what the episode shows #ReleaseTheCubanCut) told us the following in what we can only describe as messianic in tone: “You don’t need it. Don’t take it. Just go.”
And so we didn’t leave with our tail between our legs, but with an energy that we’re going to put right back into Pluto.
While we couldn’t get a deal done, we felt confident when presenting to the sharks and we still feel confident with Pluto moving forward. It was a dream come true to talk about our company to such great business people and veterans of commerce, and to get our idea and product in front of a national audience. Plus, they really believed in us as people, and that’s about as good as any offer we would’ve taken. Personally, we think this was one of the best outcomes we could’ve asked for.
As Cuban says, we’re just going to go. Thanks to all of you for getting us to where we are now. We’ll make good on it!