Appearing on Season 12’s Episode 8, Brake Free was presented by two of the company’s founders, Henry Li and Alex Arkhangelskiy. Ian Dunn, Trevor Leger, and Johan Boot, the other three co-founders of the company, were absent from the episode. Arkhangelskiy started the pitch, explaining how much fun riding motorcycles can be, but noting how dangerous the act is. Arkhangelskiy added that he has a family and two children, which is part of the reason why he and his partners created Brake-Free. The first impression of the “Shark Tank” investors was amazement, though many of them had some apprehension in biting at Brake-Free’s request for $200,000 in funding in return for a 10% equity in the company.
Immediately, the investors of “Shark Tank” confessed that Brake Free is a great idea, and asked questions about how the device works and whether or not Brake Free has a patent. Explaining that the Brake-Free costs $169.99, uses the same kind of sensors to track movement as smartphones, and that Brake-Free does indeed have a patent, the Brake Free presenters were heartbroken when Kevin O’Leary, Barbara Corcoran, and Lori Greiner declined Brake Free’s offer. Luckily, Robert Herjavec was willing to provide the requested $200,000, but he wanted 20% equity. At this point in the episode, Mark Cuban also expressed interest in the company, which eventually resulted in both Herjavec and Cuban working together, and Brake Free accepting the deal for $200,000 and 20% equity.
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