"It goes away in 5"- When Shark Tank's Daniel Lubetzky put a timer on 'Fling Golf' to make a deal

Fling Golf, a flingstick (combines golf and lacrosse) featured on Shark Tank Season 12, which aired in 2020. The founders, John Pruellage and Alex Van Allen presented a unique product for those who felt playing golf could be an expensive or tricky task.

The Fling Golf offered a fun introduction to a new sport, combining golf and lacrosse, however, Kevin O'Leary who is an ardent golf player did not think that golf clubs would entertain this product. To Kevin's surprise, the founders revealed that they had sold their product to 300 golf clubs, and had a separate customer base who buy it for fun purposes.

Robert Herjavec liked the product but remarked he was struggling to understand how the founders would capture the customer base. Mark Cuban found the scaling up of the product a problem and pulled out. Lori and Kevin did not feel that the valuation of the product was justified and hence pulled out, too.

Daniel Lubetzky, however, had a different perspective and decided to offer a deal to Fling Golf founders. Daniel offered $300k for 33.3% of the equity instead of the original ask of $300k for 10% equity. On the other hand, Robert Herjavec was willing to guide John and Alex and offered the same proposal as Daniel Lubetzky.

While the founders proposed a counteroffer, Daniel was getting restless and put a timer saying:

"I'll do $300k for 25% and it goes way in 5,4,3,2,1."

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Fling Golf founders made a $300k deal with Daniel Lubetzky on Shark Tank Season 12

Despite, most of the investors pulling out from Fling Golf in Season 12 of Shark Tank, the founders, Alex and John, still managed to lure two investors, Daniel Lubetzky and Robert Herjavec.

While both the investors initially offered the same deal, after the founders counteroffered to reduce the equity from 33.33% to 20%, Daniel Lubetzky came up with a final offer of $300k for 25% of the equity in Fling Golf. Even before Robert made another offer or initiated any negotiation, Daniel put the founders under stopwatch and started the timer count to 5.

The founders said yes to Daniel's offer, much to other sharks' surprise. However, Daniel mentioned to the founders that they would have to hustle a lot and work hard to make this product.

While happily leaving with a deal, the founders assured Shark Tank investor Daniel and said:

"Daniel's got nothing to worry about. We are committed and we are all with us we're gonna see this to the end and we know it's gonna be a huge sport."

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Daniel Lubetzky joined Shark Tank Season 16 as one of the lead sharks.