The SEVENTY2
The SEVENTY2 is a company from Los Angeles, CA, that has created a to-go bag of tools for emergencies. The bag was designed in an effort to educate, equip, and prepare people for emergency situations.
Every bag contains 35 tools useful in an emergency and all of the tools work together. Each bag also includes all the necessary instructions for its various intended uses in color coded ways.
The business was started 6 months before their appearance and has sold $700,000 in inventory. $400,000 was raised through a crowdfunding campaign as pre-orders. The original cost to produce was $350/unit but, through effeciencies, is now made for $141/unit. The bag and the tools are manufactured overseas but assembled in a US warehouse that gives jobs to the handicapped.
The business is expected to earn another $250-300,000 by the end of the year.
This deal aired on Episode 9.02.
Making A Deal
The SEVENTY2 made a straight equity deal with Robert for twice the money and twice the equity leaving the overall value of the company the same as when they entered.