Emazing Lights lands a deal with Mark Cuban and Daymond John
Brian Lim, founder of Emazing Lights, stormed ABC’s Shark Tank last night asking for $650k for 5% stake in both his gloving company and iHeartRaves spin off. He earned the interest of four sharks; Lori Grenier and Robert Herjavec offered $1 million for 5% but Lim eventually took Daymond John and Mark Cuban’s offer for $650,000 and 20% equity on any future licensing deals. The final offer valued EmazingLights and IHeartRaves at a $13 million valuation but Lim’s real win was landing two strategic partners who plan to bring both brands into retail and sports.
The company’s main selling point; the gloving underground culture and the competition that EmazingLights have created — not to mention Lim’s impressive entrepreneurial ability.