Brian Lin, the CEO and Founder of Emazing Lights and iHeartRaves was seeking an investment of $650,000 for 5% of his company on last night's Shark Tank. To introduce his gloves, Brian recruited the world-famous glover Gummy to showcase the sport of gloving to the sharks.
During Brian's speech on gloving, he revealed that it is already moving from a subculture to pop culture movement and he expects sales to reach $5.5 million this year alone.
While Kevin O'Leary said the product may be a fad and offered a loan of $650,000 rather than an investment, Daymond John, Mark Cuban, Lori Greiner and Robert Herjavec wanted in. Lori Greiner and Robert Herjavec offered $1 million for 5% equity, while Mark Cuban and Daymond John invested $650,000, a 5% stake and 20% of licensing values for Daymond. In addition to the $650,000, 5% stake and 20% of licensing, Mark Cuban said that EmazingLights would be able to open for the Dallas Mavericks showcasing the sport of gloving.
So who did Brian choose? After some hard thoughts, Brian chose to work with Mark Cuban and Daymond John. Congratulations Brian!
Photo Credit: ABC's Shark Tank
