This 8-Year-Old CEO Got $50,000 Offer From 2 Billionaires On Shark Tank US
Summary
Gavin Batarse, an eight-year-old boy and CEO of Glove Wrap and a baseball fan, received a $50,000 offer from two billionaires after he pitched "an innovative product to break in and shape baseball, softball and hockey goalie gloves" at Shark Tank US, as per a report in CNBC. He gave a presentation about his invention with the help of his father and sister Jon and Morgan Batarse.Explaining the product, the CEO said, "Glove Wrap is an elastic band with the exact width, length and thickness needed to break in and shape your entire baseball glove while forming a perfect pocket. "As per the outlet, the firm is located in Orange County, California, and competes with a wide range of homemade cures that have been produced over the decades. Its super easy to use no matter your age," the company said about the product on its website.Explaining the idea, the boy said, "My dad and I just bought me a new glove, and we were going to use the old-fashioned way to break it in with rubber bands, but we didnt have enough. Guest Shark Michael Rubin, CEO and founder of sports retailer Fanatics said that he would make an offer if billionaire entrepreneur and investor Mark Cuban joined in.Mr Cuban agreed and the two made the family an offer of $50,000 for a 22 per cent share in Glove Wrap, which they accepted right away.