GoGo Gear is a line of protective safety wear for people who ride scooters and motorcycles. Arlene and Desiree had a great idea to take all of their money and invest in something they knew nothing about the industry.
GoGo Gear is in the scooter and motorcycle industry
GoGo Gear is exclusively in scooter and motorcycle stores as of the Shark Tank pitch. They have been business women in Management for twenty-five years.
Mark asked what they are going to do with their money, and they said they are going to Europe. The amount of scooters in Europe is significantly higher in Europe.
GoGo Gear invested close to four-hundred-thousand dollars, and have around one-hundred-thousand dollars left. Daymond thinks they are ignoring the more significant issue and that is their valuation.
Company: GoGo Gear
From: Los Angeles, California
Entrepreneurs: Arlene Battishill and Desiree Estrada
Ask: $300,000 for 15% equity
Companies in this episode: The Ave, Bark' ems' To Go, Brewer's Cow Ice Cream
Season: Season 3 Episode 310
Sharks: Mark Cuban, Daymond John, Kevin O'Leary, Barbara Corcoran, Robert Herjavec
First Aired: 02/23/2012
Deal: Daymond John at 65% for $300,000
What do the Shark Tank Investors say about GoGo Gear
- Mark Cuban tells them they took $400,000 over the last two years and you can't tell us what you are worth. Mark Cuban uses Kevin's line and calls them Cockroaches for coming in with something that is not proprietary you missed. He is out.
- Daymond John is still considering, and they are willing to bring the equity offer up. Robert Herjavec tells Daymond he knows the motorcycle market, but he is not doing the deal alone. Daymond and Robert are now working together. Arlene and Desiree leave and come back to offer fifty percent for $300,000. Robert asks how much more than fifty percent are you willing to give. Daymond does the deal at $300,000 for 65% on his own.
- Kevin O'Leary says them that the valuation is too high, and he doesn't want to go out, but he won't pay that much.
- Barbara Corcoran tells them because of your extreme optimism, and you have pissed away your money so quick, she is out.
- Robert Herjavec tells them don't come in and tell us that your valuation is too high, and then tell us what we think? Robert tells them they need to be laser-focused, and he fears that they are not focused so, he is out. Robert loves the product, and Daymond is trying to get him to come in with him at sixty-five percent. Robert is out, again.
GoGo Gear after Shark Tank
Arlene and Desiree ended up going it alone, having the deal with Daymond fall apart after the show. They are selling in the United States and Europe.