Mark Cuban just invested $550,000 in a vegan dog treats company on 'Shark Tank' via CNBCMakeIt
Many entrepreneurs who walk into the tank on ABC's"Shark Tank" with sky-high valuations climbing into the millions are often confronted with raised eyebrows, lots of questions and much push-back from the sharks. On Sunday's episode of the show, a vegan dog treat company did just that. But this time, it scored a whopping half a million dollars worth of investment from Mark Cuban.
The sharks stopped Bethencourt in his tracks when they asked how he could value the company at $11 million if they hadn't even released the product commercially yet. Bethencourt explained to the sharks they did a lot of research and development to ensure the product will be a success. He said that the company has taken in a total of $4 million in investments so far, including one from billionaire Peter Thiel.
Daymond John, an investor in grain-free, natural dog food company TurboPup — also said he was out, but did leave Bethencourt with one piece of advice:"In the interest of America, I don't want you to ever, ever, ever, ever, ever, ever, ever, ever publicly give that valuation again," he said."Because you're ruining people."
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