Additional Coverage:
- Daymond John goes backstage to make a deal with founder in one of the rarest ‘Shark Tank’ moments (marketrealist.com)
Shark Tank Surprise: Daymond John Chases Entrepreneur Backstage with Deal
Entrepreneurs on “Shark Tank” often face an uphill battle to secure investment, even with compelling pitches. It’s rare for the tables to turn, but that’s exactly what happened with Billy Blanks Jr., son of fitness icon Billy Blanks.
Blanks Jr. pitched his “Dance With Me” fitness program, seeking $100,000 for a 20% stake. While three sharks declined, Daymond John, recognizing the potential, partnered with Mark Cuban to offer a deal. However, their offer for 50% of the company came with a condition: the program would be sold through Zumba, a company John had previously worked with.
Blanks Jr., misunderstanding the offer, believed his program would be absorbed by Zumba and declined. Unwilling to let a promising venture slip away, John took the unusual step of following Blanks Jr. backstage. He explained that the deal meant Zumba would simply be the platform for selling the program, not its owner.
This unexpected gesture brought Blanks Jr. and his wife to tears. Realizing his mistake, Blanks Jr. gratefully accepted the deal in a heartwarming moment that even moved John. The entrepreneur’s initial rejection turned into an emotional victory, highlighting the unpredictable nature of the “Shark Tank” and the dedication of its investors.