posted at 06:50
Author Name: Richard Feloni
Shark Tank Kevin OLearys Best Investment
Investors Mark Cuban, guest Shark and GoPro founder Nick Woodman, and Daymond John all compliment Sanetti on his product and determination but tell him that he's got to continue developing his company before they would be ready to invest. You know, when I was in the basement back in the late '80s starting The Learning Company, after I'd get a $12 million order for "Reader Rabbit," it would blow up behind me, the logistics. We sold the company for $4.2 billion five years later. O'Leary cofounded SoftKey, the business that would eventually become The Learning Company, out of a Toronto basement with a $10,000 seed investment from his mother. The company collected cheap software in inexpensive CDs that started to become popular. Perik grew the company in the '90s through profitable acquisitions, making it attractive enough for Mattel to spend over $4 billion for it in May 1999. Sanetti came looking for $160,000 for 20% equity but gladly makes a deal with Greiner for that same amount of money in return for a 35% stake in his company. Though he gave up 15% more of his company than he wanted to, he essentially took O'Leary's advice and made that sacrifice to partner with someone who can take his company to the next level.

Posts Archive