Jake Sullivan, 28, and his 83-year-old business partner Don Wildman (former owner of Bally’s Total Fitness) pitched Handout Gloves on Shark Tank in December. Handout Gloves are designed for skiers, snowboarders and winter walkers who want to answer their phone, tie a shoelace or grab a snack without having to take their gloves off or losing them. Handout Gloves are designed with a zipper across the back of the hand. They made a deal with Barbara Corcoran: she gave them $300,000 as a line of credit (with 6% interest) for 25 percent equity, in addition to Wildman providing $300,000 as capital.
This isn’t Wildman’s first investment in an extreme sports-related gear startup. Wildman is also the co-founder of a Golfboarding product with pro surfer Laird Hamilton. The two legends presented their Golfboards at the Four Seasons resort at Las Colinas. See video below. The Golfboard tagline is “Surf the earth.”
[Related: 27 Favorite ‘Shark Tank’ Products — New List]