Entrepreneurs Arlene Battishill and Desiree Estrada pitched their protective gear company during
If you’re short on time, here’s a quick overview of what happened to GoGo Gear after
Arlene Battishill and Desiree Estrada, appeared on
|Accepted deal for $300,000 for 65% equity
Shark Tank GoGo Gear Update
- Entrepreneur: Arlene Battishill and Desiree Estrada
- Business: Protective gear for motorcycle enthusiasts
- Ask: $300,000 for 15% equity
- Result: $300,000 for 65% equity
- Shark: Daymond John
Founders of GoGo Gear, Arlene Battishill and Desiree Estrada rode into the tank, and making quite the
After losing their corporate jobs, the ladies eventually joined forces to create the line. Despite not having a background in fashion, the business duo learned quickly to make things happen.
Robert Herjavec tried out one of the options, with Barbara Corcoran noting that the gear actually looked pretty good. The ladies told the sharks they’d only been in business for a year, and had already made $172,000 in sales.
Further, they have their products in twenty-five retail stores. Mark Cuban wanted to know why he should trust them with his money.
Arlene and Desiree said they were going to distribute in Europe, but Mark thought that was a terrible idea and that the business wouldn’t thrive with them leaving to another continent.
The business duo admitted that they’d made mistakes, but that they’d learned from them.
Robert asked Daymond John what he thought, as the fashion guy, and Daymond said he was taken aback by the high valuation, especially with nothing proprietary to the business. Kevin O’Leary said they made a huge tactical error with the valuation and went out.
The business duo seemed to not have a grasp on the valuation either, which made Robert feel less confident. The ladies changed their ask to $300,000 for 38% equity.
Mark was overall not impressed with their lack of strategic know-how. He ultimately went out for this reason.
Barbara went out because of their optimism and ingenuity. Robert didn’t have faith in their focus and also went out.
Only Daymond was left in play. Desiree said they were going to raise the equity, but needed to talk about it in private.
When they returned, they once again changed their ask to $300,000 for 50% equity. Daymond said he’d bring Robert in because of his connections to motorcycle shops.
Robert wanted more equity. They offered 55%, but Robert said it wasn’t enough.
Then, Daymond said he’d agree to it, if Robert would join, however Robert refused.
Arlene then offered 65% equity, but Robert ultimately went out.
At this point Daymond agreed to do the deal of $300,000 for 65% equity, and the ladies accepted.
Do you think this worked out following
Our GoGo Gear update reveals that despite the harsh criticisms from the other sharks, the company managed to survive despite the recession, and also despite the pandemic.
However, Daymond did not end up investing after all. Although, he did eventually became one of their advisors.
The business is still operating, and is making just over $7 million per year.
Check out their products on the GoGo Gear website. There you will find an expansive selection of all the things one could need in regards to motorcycle and scooter gear.
If we learn anything new about this company, we will certainly let you know. In the meantime, you can check out the other companies featured in Season 3 Episode 10, by following the links below.
There you will find out just about anything you could want to know about these companies.
For even more on companies and products, be sure to stop by our Season 3 Products Page before you go!
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!