Getting an investment from Mark Cuban, owner of the Dallas Mavericks, began with a simple, bold step: sending him a cold email.
Getting an investment from Mark Cuban, owner of the Dallas Mavericks, began with a simple, bold step: sending him a cold email. Our logistics startup was growing with MRR of just over $10,000. In my email, I suggested that our services could benefit the startups Mark Cuban had invested in through the show "Shark Tank."
Mark Cuban responded quickly, saying our business was too small for his interest. However, I didn't give up. I explained that while we weren't seeking investment, our logistics and fulfillment services could be very useful for his portfolio companies. We could combine all their shipping needs in one place and personalize packages to make them stand out. Mark seemed intrigued and said he would pass our information along to the right person.
To my surprise, a week later, I got a response. After answering many questions, we started working with a few of Cuban's companies. These were mostly startups that had appeared on "Shark Tank" but hadn't secured a deal or were smaller ventures. This was our chance to prove our worth.
After months of providing them with excellent service and receiving positive feedback, it was time to raise more money. We had previously raised a little over $250,000, and now we aimed for $1 million, half of which we had already secured. I reached out to Mark Cuban again, sharing our growth and the positive impact we had on his startups, and asked if he would be interested in investing.
After some discussions about the terms, Mark Cuban agreed to invest $350,000. This remarkable turn of events, all sparked by a cold email, took place on a memorable Sunday night. It's a testament to the power of reaching out, persistence, and the ability to clearly communicate the value of what your company can offer.
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