Mercer County Outlook

Celina’s Burden Lands Three ‘Sharks’

Advertisements
Tom Burden on Shark Tank – courtesy ABC

(11-12-17) For Celina grad and Tri Star alum Tom Burden, who invented the Grypmat, it was a big night as he was the first Entrepreneur on tonight’s edition of ABC’s  ‘Shark Tank’ and was seeking $200,000 for 10 percent equity. He would make his presentation to these five sharks Mark Cuban, Daymond John, Lori Greiner, Robert Herjavec and Sir Richard Branson.

Grypmat is a multi-purpose mat that can be used practically anywhere.

“high-performance, flexible, non-magnetic, non-slip, chemical resistant, anti-static, rubber tool mat

It is designed to increase efficiency and safety. The mat is available in three sizes and ranges in price from $29.99 for small to $69.99 for large. The trio pack regularly costs $144.99.

Guest shark Sir Richard Branson , whose net worth is over $5 billions dollars and owns an airline and hopes to be the first privately owned space travel business, liked that it solved an everyday problem and definitely sees the airline application. Grypmat has already done $400,000 in sales, mostly from online sales and through trade shows and have a utility patent pending.

Burden’s interest in the ‘Sharks’ is to help him build up the inventory and continue creating new and innovative products and accessories with help from the Sharks. Daymond John makes the first offer of $200,000 for 25 percent. John then lowers his equity request for 20 percent. Branson  jumps in and  offers $200,000 for 15 percent, as does Robert Herjavec.  John then revises his offer to $200,000 for 15 percent.

Mark Cuban and Lori Greiner then jump in with an offer of $200,000 for 20 percent. They want to take over everything and get the mats into multiple stores. Burden then counters Branson, Greiner and Cuban at $360,000 for 30 percent. which ends in a deal.

The reward for Burden, three perfect ‘Sharks’ for his deal, in which all five ‘Sharks’ wanted a piece of onership. That is a win for Celina’s Tom Burden and the future of his company.

RELATED

Former Tri Star Student Living The American Dream

Celina Grad To Appear On Shark Tank

Advertisements

Advertisements