Mark Cuban Invests $2 Million In Ten Thirty One Productions On ‘Shark Tank’
Last week, Mark Cuban made his largest deal in “Shark Tank” history. The presentation started by Melissa Carbone entering the “Shark Tank” with someone dressed up as a zombie. Carbone asked for $2 million in exchange for a 10% equity stake. This means that her company Ten Thirty One Productions was given a $20 million valuation. Carbone said that their most popular attraction the Los Angeles Haunted Hayride sells out every 17 days that it runs in October.
“We do about $1.8 million dollars right now per October,” said Carbone. All the “Sharks” said “whoa” after hearing that figure. It costs $1.2 million to produce the Haunted Hay Ride so she walks away with $600,000 in cash at the end of the 17 days.
Daymond John, one of the “Sharks” proposed $2 million for a 40% stake in the company. She counted with “$2 million for 20%.” Mark Cuban, the prominent tech investor, said “done!” This was the largest deal made on “Shark Tank” so far.
[Source: BusinessInsider]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry