Venture capitalist Marc Andreessen went on record saying that “so much money and so many high valuations get thrown around that it’s created a large bubble that has yet to burst” implying that securing funding in this day in age has never been easier.
So what does Jimmy Kimmel do in response to this? Poking fun at this notion, he decided to go on “Shark Tank” during his show “Jimmy Kimmel Live” to pitch his startup, which produced line of horse pants aimed at making horses more stylish and saving their riders from the embarrassment of riding naked horses.
Kimmel had zero revenue and traction yet he asked for $500,000 for 10 percent equity in his company, valuing it at $5 million. Mark Cuban was immediately out, but Robert Herjavec saw huge potential in the venture and offered $5 million in exchange for 10 percent, which was over 10x the valuation they were asking for.
Who knows who is right, all I know is this is another reason why Jimmy Kimmel is the man.
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