Secure The Bag! 26-Year-Old Procures $150K In Start-Up Funds
Destin Bell founded the fitness app Card.io. But to get the app out to the masses, Bell needed help. The entrepreneur presented his idea to game developer Niantic. The company sponsors the Black Game Developers Initiative, which financially supports Black game developers. However, Niantic initially passed on Bell’s pitch.
Instead of accepting this rejection, Bell emailed the company’s CEO weekly for three months. His persistence paid off; the company agreed to give the game developer $150,000 in startup funds. The creator shared this story when he appeared on ABC’s Shark Tank. Daymond John, Shark Tank investor and Fubu founder, said that Bell reminded him of his younger self.
“I got to be part of this, and I don’t care how I’m part of this,” John said. “I love your energy. I did the same thing. I just did it with a phone. Forty years ago, I made 50 calls a day for six months, until people picked up,” CNBC- Make It reported.
The 26-year-old went on the show to ask for additional funds to invest in the business’ growth. Bell asked for $150,000 in exchange for a 5% equity stake in the company.
Three of the five investors on the panel dropped out. However, Daymond John and guest investor Rashaun Williams, a minority owner of the NFL’s Atlanta Falcons, agreed to help the businessman. The two men offered Bell $150,000 for 15 percent of his company. The 26-year countered with 10 percent, but the investors stood firm with their offer.
With the encouragement of his mother, who accompanied him on the show, Bell accepted the deal.
Users can download the Card.io app to compete for turf in their city by walking, running, or biking. The app has individual and group subscription tiers that provide an ad-free experience and offer social media-type functions for members.
The Card.io App is available on Google Play and the App Store.
RELATED CONTENT: Check Yourself: 3 Questions Entrepreneurs Should Never Stop Asking
