posted at 07:50
Author Name: Richard Feloni
Mark Cuban Invests In BeatBox On Shark Tank
When investor Kevin O'Leary takes a sip of BeatBox Beverages' neon Blue Razzberry Lemonade on the latest episode of ABC's hit show "Shark Tank," he flatly proclaims, "This tastes like sh-." Even though he would rather enjoy a fine Merlot than the entrepreneurs' fruity boxed wine, O'Leary concludes with the rest of the Sharks that BeatBox is on the verge of something big. BeatBox cofounders Justin Fenchel, Aimy Steadman, and Brad Schultz enter the tank looking for $250,000 in exchange for 10% equity in their company. BeatBox BeveragesHow to make a BeatBox's legal version of southern rapper's favorite, purple drank. Fenchel, as BeatBox CEO, says the money would mostly be used to hire brand ambassadors to set up BeatBox tastings at liquor stores in markets they've determined to be ideal. Investor Barbara Corcoran offers the BeatBox team $400,000 for 20%, a deal which would bring BeatBox's valuation down to $2 million from the founders' valuation of $2.5 million. "Shark Tank"/ABCMark Cuban is ready to party with BeatBox. Cuban tells the entrepreneurs they should go with him because he thinks that BeatBox has a shot at going viral, and the only way to do so is to act as fast and big as possible, which he's ready to do.

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