Landing A 1.25 Million Dollar Deal With No Business Plan
As one of the storytellers for Glappitnova this year, established inventor Ben Gulak has been on a journey entrepreneurs dream of. For instance … winning countless awards, traveling all over the world, and facing the hard facts of being an entrepreneur. His Instagram is sick, and his personality is contagious. We are super excited for Ben being a storyteller amongst other young influencers from various industries in July under one roof in Chicago. What is Glappitnova?
Ben Gulak Facts
2008 Popular Science Invention Of The Year Winner
1.25 Million Dollar Deal for 20% of His Company On Canada’s Dragon Den
Here is an excerpt of a story about Ben Gulak
W. Brett Wilson | March 12, 2012 9:01 AM ET
“The Uno was presented at the 2007 Intel International Science and Engineering Fair. “People went crazy for it,” Gulak recalls. “There was something about the aesthetics of the UNO that captured the imagination.” Popular Science Magazine named the Uno Invention of the Year. The deal Based on the success of his prototype, Gulak was invited to be on Dragons’ Den. Just 18 years old at the time, Gulak didn’t even have a business plan when he made his pitch. Even so, the five Dragons loved him, and loved the concept even more. Gulak asked for $1.5-million for 20% of the company. He got $1.25-million for 20% – $250,000 from each dragon.
“After the cameras stopped rolling, I learned the difference between reality TV and real life,” Gulak says. That’s because eight months and an economic meltdown later, he was down to one investor — me. He took my $250,000 and scrambled to find replacement investors. Eventually, he raised more money than he got on the show.”
