Offbeat: This 'Shark Tank' investment just made Mark Cuban a few million dollars richer - - PressFrom - US
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Offbeat This 'Shark Tank' investment just made Mark Cuban a few million dollars richer

09:31  23 august  2018
09:31  23 august  2018 Source:   cnbc.com

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Mark Cuban an investor from popular show Shark Tank has just made millions . Let me know what New Movies and TV Shows you would like me to debunk.

During the five years that billionaire Mark Cuban has appeared on the hit investment show " Shark Tank ," he's made more than 70 investments , in companies "Out of the 71, I would say ten or 11 are netting a minimum of half-a- million dollars a year, doing million to or in some cases, +

Mark Cuban© Provided by CNBC Mark Cuban Billionaire Mark Cuban just added a few more dollars to his bank account.

In 2014, the business maverick and "Shark Tank" star invested $1.75 million for a stake in Boston-based obstacle course company Rugged Maniac, making it one of the biggest deals on the show. Now, the Dallas Mavericks' owner is cashing out.

According to the Boston Globe, New Media Investment Group recently acquired an 80 percent stake of Rugged Maniac for $10.4 million. Business partners Rob Dickens and Brad Scudder will hold on to the rest.

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Shark Mark Cuban is loudmouthed, confident, brash, and insanely wealthy, to the point that it This man appears to have been born to be rich . Cuban arrived late on the cast of Sharks , joining Kevin Since then, Cuban has parlayed his fame and expertise in the American tech startup realm into many

Mark Cuban - "I'll Offer You a Million Dollars For The Entire Company!" - Shark Tank The world famous Amercian reality show, Shark Tank is currently in its

Cuban sold his entire stake, "essentially doubling his initial investment," according to the Boston Globe.

The former lawyers won Cuban's financial support on season five of the reality TV show. Since then, they've turned to him for entrepreneurial advice and credit Cuban with teaching them one valuable business lesson: Know your worth.

The then 27-year-old Scudder founded Rugged Maniac in 2010. At the time, "I was practicing law and I hated it," he tells CNBC Make It. "I was looking for anything else to do."

The entrepreneur, 34, describes himself as an "outdoorsy guy" who grew up on a farm in the western part of Massachusetts.

Tired of his boring day-to-day corporate job, he decided to partake in a tough mudder obstacle course — a series of 10 to 12-mile obstacle race events.

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Shark Tank is an American business-related reality television series on ABC that premiered on August 9, 2009. The show is the American franchise of the international format Dragons' Den

The " Shark Tank " setting is seductive. Here come entrepreneurs with their financial lives at stake. He said: "Out of the 71, I would say ten or 11 are netting a minimum of half-a- million dollars a year But you and I might define winning in a slightly different way from Cuban . You and I just want to have

This experience inspired him to create his own company with shorter obstacle courses, such as muddy water slides, tunnels, fire pits and large scaling walls.

During the day, Scudder worked his standard 9-5 job as a lawyer. But at night, he pored over his business plan, sought out a website designer, found a venue and built obstacles in a horse patch. Four months in, the CEO left his lucrative job as an attorney to focus solely on his burgeoning business.

"People thought I was crazy," says Scudder. "I was traveling 200 days a year, coming in at 3 a.m. in the morning, working 80 to 100 hours a week."

He was also forced to live with four roommates in a rough neighborhood in Boston just to make ends meet.

"I got through with a lot of help from my friends and family," says Scudder. But when 1,500 people signed up for his first obstacle event, he knew he was onto something.

The founder soon brought on his friend and former Wall Street lawyer Rob Dickens. Together, they grew the business over the next three years, churning out about 15 events a year.

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To date, Shark Tank has invested 0 million in projects approved on the show. The richest shark by an order of magnitude, Cuban boasts a net worth of .1 billion “The Queen of QVC,” entrepreneur Greiner studied journalism and worked as a playwright before she made her mark with

These Are the 4 Smartest Investments Mark Cuban Made on ' Shark Tank '. If you've ever watched Shark Tank , you know Mark Cuban has some very strong opinions. In 2013 Cuban and fellow Shark Robert Herjavec partnered up to invest 0,000 for 35 percent of the company.

a man wearing a black shirt© Provided by CNBC

As the company expanded, the partners caught the eye of "Shark Tank" producers, who reached out to invite them on the show. At first, Scudder and Dickens turned down the opportunity but eventually accepted the offer.

"The exposure was too good to pass up," says Scudder. In fact, he still remembers the exact moment that he came face-to-face with Mark Cuban and the full panel of judges.

"I was like, 'oh s---. These people are going to rip me apart on national television,'" Scudder recalls. "I thought I was going to pass out."

To the contrary, Cuban saw their company as a major investment opportunity and initially offered them $1.5 million. Although Rugged Maniac was barely profitable at that point, says Scudder, they rejected the offer.

The three finally settled on a $1.75 million investment, with Cuban getting a 25 percent share of the company.

Mark Cuban smiling© Provided by CNBC Mark Cuban smiling

Now in its eighth year, Rugged Maniac operates over 30 events nationwide with more than 150,000 participants annually.

According to Scudder, the company has seen 100 percent growth year-to-year, which he admits is influenced by Cuban's backing. "He's a brilliant business mind," says Scudder. "He can reduce complicated issues to something super easy. He answers [questions] instantly and is straight to the point."

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Maybe Cuban should consult with angel investor and Shark Tank fan Halle Tecco, who we wrote about this summer as she tracks every episode’s investment in these handy charts. According to her stats, Cuban has made 80 deals to date, investing about million

Here's Why Mark Cuban Invested 0,000. Entrepreneur Ryan Bethencourt brought a dog food company "When you come in here and ask us for over half a million dollars for 5 percent and I have no While his vision for a pet food that's healthier for dogs and better for the environment made his

Looking back over his career, Scudder says that the best part of owning Rugged Maniac is the autonomy, adding that Cuban is pretty "hands-off."

"I'm my own boss. It excites me. I enjoy what I do," he says.

For other entrepreneurs looking to emulate his success, Scudder offers this key piece of advice: "You've gotta jump. [Rugged Maniac] must've been the 40th idea that I had. I thought I'd probably fail. You can't be paralyzed and stuck in inaction. Jump."

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Disclaimer: CNBC owns the exclusive off-network cable rights to "Shark Tank."

This story has been updated.

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