Securing funding in this day and age has never been easier. Venture capitalist Marc Andreessen even went on record saying that so much money and so many high valuations get thrown around that it’s created a large bubble that has yet to burst. Jimmy Kimmel recently poked fun at this notion by going on “Shark Tank” during his show “Jimmy Kimmel Live” to pitch his startup, which produced line of horse pants aimed at making horses more stylish and saving their riders from the embarrassment of riding naked horses.
Even with zero revenue and traction, Kimmel asked for $500,000 for 10 percent equity in his company, valuing it at $5 million. Mark Cuban was immediately out, but Robert Herjavec saw huge potential in the venture and offered $5 million in exchange for 10 percent, which was over 10x the valuation they were asking for. Watch the whole deal go down below:
Perhaps it was the fancy graph that persuaded Robert Herjavec to invest so much.