•   
  •   

Weird News This 13-year-old saved $10,000 to start a 'socks with pockets' business

11:35  19 january  2020
11:35  19 january  2020 Source:   cnbc.com

Meet Bear, the OCD dog saving koalas trapped by bushfires

  Meet Bear, the OCD dog saving koalas trapped by bushfires Koalas struggling to survive the deadly bushfires in Australia have found an unlikely saviour. Bear, a dog with obsessive compulsive disorder, has been helping animal rescuers by sniffing out the marsupials in burnt out forests. © Other Bear is trained to find both koalas and quolls. Pic: IFAW/Facebook The mutt, a cattle dog cross-breed, is ideally suited to the task, as he is trained to find both koalas and quolls - another small Australian marsupial - in the wild.Dogs should normally be kept apart from the Australian native species as koalas are very easily stressed by man's best friend.

Corcoran was referring to 13 - year - old Sofi Overton, who pitched her " sock with pockets " company, Wise Pocket Products, to the investors. Wise Pocket makes leggings and socks with pockets to hold phones and other devices, and with each purchase a pair of socks is donated to children's

Start -ups'Shark Tank': How this 13 - year - old saved $ 10 , 000 to start a socks business . A penny's worth depends on its quality and rarity. While most pennies are only worth a few bucks, highly coveted ones might be sitting in your pocket or stuck somewhere in your couch cushions.

a group of people sitting at a table © Provided by CNBC

It's not every day you see a teenager on ABC's "Shark Tank."

"I always love to see a #kidtrepreneur in the tank," Shark Barbara Corcoran live tweeted during Sunday's episode. "It's an advantage to start your business when you're young. You have nothing to lose and nowhere to go but up."

Corcoran was referring to 13-year-old Sofi Overton, who pitched her "sock with pockets" company, Wise Pocket Products, to the investors.

"I created a sock for kids, made by this kid, to make life easier for whatever we're doing," Overton told the Sharks. Wise Pocket makes leggings and socks with pockets to hold phones and other devices, and with each purchase a pair of socks is donated to children's shelters across the country.

Booze tolerance 'may have saved our ancestors from extinction'

  Booze tolerance 'may have saved our ancestors from extinction' Our ancestors may have been saved from extinction because they developed the ability to digest alcohol. Scientists claim that African apes who lived around 10 million years ago evolved to metabolise ethanol, the chemical compound in alcohol.These primates eventually gave rise not only to humans but also to chimps, bonobos and gorillas, all of which share the ability to break down booze.The common ape ancestor evolved to carry a protein that made metabolising ethanol more efficient, which allowed them to eat overripe fermented fruits that fell on the ground.

Start -ups'Shark Tank': How this 13 - year - old saved $ 10 , 000 to start a socks business . So the 25- year - old entrepreneur started a thriving business of his own. As a test prep instructor in Cambridge, Massachusetts, he brings in 0,000 a year tutoring people for the GMAT, GRE and

Start -ups'Shark Tank': How this 13 - year - old saved $ 10 , 000 to start a socks business . However, only 39 percent of survey respondents said they would be able to cover a ,000 setback using their savings. "While tapping savings to pay off an emergency was the most common response, more than

"I got into this business when I was 11," said Overton, who told the investors she'd been watching "Shark Tank" since she was 6.

"My cousin put her phone in her boot. I tried to, and it was really uncomfortable. I asked around my school to see if other kids had this problem, and they did, so I came up with my prototype," she said. "I cut off the top of another sock and stuck it inside the sock. And I sowed it up the sides."

But Overton, who lives in Betonville, Ark., really impressed the Sharks when she explained how she funds her business.

"I save everything that I earn. I invested $10,000 of my own money," she said. "I had saved $5,000 and I earned $5,000 more through business pitches and competitions."

"Sofi, you're a perfect example of what every kidtrepreneur should do," Shark Mark Cuban said. "You got a job, you saved up some money, you did all the prototypes yourself, then you made actual products, then you sold those products – $16,000 worth of products," he said, referring to the business's lifetime sales.

Although the cost to make the sock is high, at $5.47, the Sharks were still interested because of Overton.

Sharks Lori Greiner and Daymond John offered Overton $30,000 for a 33.3% stake in the business. Overton countered, asking the two for $35,000 for a 25% stake. Greiner and John accepted.

Greiner and John said on the episode their end goal would be to license the socks, but in the meantime, Overton's business is more than just a money maker to her.

"Going into high school is stressful," Overton told the Sharks. But "with the Wise Pocket Products, it's kind of a boost for me, a confidence boost: If I can own a business, then I can go through school," she said. 

Saved by the Bell stars reunite in first look at new reboot series .
"Talk about being in a time machine."Practically every intellectual property going is being revived and/or rebooted right now, and that includes classic kids sitcom Saved by the Bell, which is getting a new series on NBC's streaming service Peacock.

—   Share news in the SOC. Networks

Topical videos:

usr: 9
This is interesting!