"8% isn't enough"- When Shark Tank's Mark Cuban offered a revised deal to 'TrophySmack'

Shark Tank Season 12 featured Matt Walsh and Dax Holt, the founders of TrophySmack, an online custom trophies and award brand offering a versatile range of fantasy sports trophies, championship belts, loser trophies, and custom rings. Matt and Dax asked for $600k for 8% of the equity in their company, TrophySmack.

Matt was "addicted to winning" and Dax like a good partner, supported his zeal. The duo presented custom-made trophies for the sharks, suiting their personality, which surely did catch their attention. The two presented a lucrative deal, showing promising sales figures, despite the COVID-19 hit.

Kevin O'Leary, being the number guy he is, was impressed by the sales and logistical knowledge of the founders and how they were tackling their competitors. Daymond, who had a personal promise to fulfill to his wife of not watching sports, opted out immediately as the pitch ended. Kevin O'Leary was willing to bring in his "corporate market" expertise and offered $600k for 25% of the equity.

However, the founders of TrophySmack were not just looking for investment but also for a "strategic partner" who could open new doors for them. Mark found the opportunity suitable for him and offered a revised deal, saying:

"I like what you're doing. I like the fact that you're hustlers and you're looking to touch all the pieces and you're just following the money. The question is 8% isn't enough. I'll make you an offer. I'll offer you the $600,000 but I want 17%."

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Did TrophySmack's founder lock the deal with Shark Tank investor Mark Cuban?

Shark Tank investor Mark Cuban, who is known for having his foot deep into the sports world despite being a minority shareholder of the Dallas Mavericks, seemed flattered by the TrophySmack founders and their approach.

Revising the original deal of the founders, Mark offered the same amount of money asked by Matt and Dax. However, he felt an 8% share of the equity was not enough for him to dive into their brand, which required deeper engagement. Mark asked for 17% of the equity, and the founders of TrophySmack were glad to receive an offer from Mark.

However, they were put in a sense of urgency, as Mark asked them to do "yes or no". Lori Greiner jumped in to offer a deal, but Mark mentioned that if they were open to negotiation with her, then he was out. Even before Lori could quote her offer, the TrophySmack founders said yes to Shark Tank investor Mark Cuban.

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Mark Cuban is featured as one of the lead investors on Shark Tank Season 16.