Jeff Wolsky went to the sharktank for a swim. He asked the sharks if they would invest $75,000.00 in expanding his existing business - making bobblehead dolls available in a mall kiosk. He did not however inform the sharks that he had an existing online business, selling the bobbleheads already.
The sharks first accused him of being guilty of hiding his online business from them, and few of them opted out for this reason. Information and numbers were asked about this business, and he wouldn't give exact count for what it made - he would only give the answer "Between five and six hundred thousand a year."
After the offer for $125,000.00 for 20% was presented, Jeff almost accepted until the other sharks sent him out of the room to deliberate.
The sharks came up with a plan to give him $100,000.00 and 20% of the business. Jeff declined. After the offer was declined, the last shark offered once more $125,000.00. Jeff countered the offer and asked for $100,000.00 with only 7% of the business. The last shark finally ducked out, and Jeff was sent home.
What I don't understand is why he couldn't use his company's money to expand. He was called greedy and he called the others greedy right back. In reality, he was greedy. He wasn't willing to risk any of his other business for the new one. He refused every offer, and walked out the door empty handed.
His online business is still thriving, but the kiosks never really took hold. This was probably a good thing - considering a lot of money would have been lost from the sharks when it could have gone to a better place.
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