![]() ![]() 80% of the money would be a loan at an interest rate of 9.5% while the other 20% would be straight cash. Kevin O’Leary decided to make an offer of $500,000 for 15% equity. ![]() Daymond John and Lori Greiner also dropped out because they weren’t interested in investing in a company with so much financial debt. There were too many questions surrounding the demand for this type of relaxation technique, so he dropped out. Mark Cuban wasn’t interested in making the entrepreneurs a financial offer. The company’s gross revenue was about $2 million in the current calendar year and had a net profit of about $600,000. Unlimited monthly membership is about three times more at $150. A single session of relaxation in one of the company’s pods is about $45. There are a couple of different ways that customers can take part in the company’s services. The primary location is within downtown Seattle and currently generates a ton of revenue for the company. There are four corporate locations already in operation, according to Joe and Scott. Joe and Scott were quickly on the defensive as they tried to defend their company’s valuation. They demonstrated their floatation pods that specialize in relaxation, but the sharks were having a tough time accepting the imputed valuation from these two entrepreneurs. Joe and Scott were confident in their ability to earn an investment from the sharks.
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