economy

This Entrepreneur Might Be the ‘Best’ in Shark Tank’s History

He created the International Gloving Championship through EmazingLights, and it’s helped him make his company synonymous with gloving. EmazingLights has 80% market share, and he tells the Sharks that he guarantees that his four or five competitors “do not operate on the same level.”

Lim’s companies have grossed over $13 million and together made $7.4 million in revenue in 2014. He tells the investors that he wants to make EmazingLights a billion-dollar company.

The Sharks are intrigued. We’ve summarized the fight for a deal:

  • Kevin O’Leary: Worried about the possibility of gloving being a fad, but very impressed with Lim’s work ethic. Will loan $650,000 in exchange for 3% equity. Lim respectfully declines because he’s looking for a hands-on partner.
  • Daymond John: Will get high-level licensing deals, and can get into stores like Spencer’s and Party City, if desired. Will give $650,000 for 20% of money made from licensing deals.
  • Robert Herjavec and Lori Greiner: Are hugely impressed by his performance and drive, and want to be important members of his team. Will invest $1 million for 8% equity.
  • Mark Cuban and John: Cuban joins John’s deal. Cuban will give $650,000 for 5% equity and will handle strategy and get EmazingLights performances into the Dallas Mavericks’ halftime shows. John will take licensing duties and take 20% commission. “So you have the sports guy and the kinda music/fashion guy who’s going to work with you, or you have the Queen of QVC and the security guy,” John says, taunting Greiner and Herjavec.
  • Herjavec and Greiner: Together have an international retail network and can also get EmazingLights into arenas. Offering $1 million for 5% equity.

Ultimately, Lim makes a deal with Cuban and John.

This Entrepreneur Might Be the ‘Best’ in Shark Tank’s History.

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