[quote]“It was the best feeling in the world. Steve always says, ‘It’s like bungee jumping—the biggest thrill of your life.’ We worked so hard for this for years.” —Angela Watts, co-owner of Slyde Handboards.[/quote]
By Eric Heinz
Angela and Steve Watts put their matrimonial chips on the table.
The $10,000 Angela’s mother saved up for their wedding would be used to finance the couple’s business as they tried to raise sales for their surf handboards.
Then, after trying three times, Slyde Handboards, which operates in San Clemente, got its shot at going into business with venture capitalists from the television show “Shark Tank.” On the show, inventors and entrepreneurs showcase their products to millionaires and billionaires, hoping to impress one or more of them and get them to invest in their product.
Slyde Handboards was able to convince Mark Cuban and guest investor Ashton Kutcher to put $200,000 into the business for a 22 percent stake in their company.
“It was the best feeling in the world,” Angela said. “Steve always says, ‘It’s like bungee jumping—the biggest thrill of your life.’ We worked so hard for this for years.”
Of course, due to non-disclosure clauses from the show, it had to be a restrained jubilation. That was about a year ago when they filmed the episode, which aired on Friday, April 15.
At one point, the Watts were given the exact offer they asked for from Robert Herjavec, an information security businessman, but they decided to take two “sharks” instead of one.
Since then, Slyde has taken the advice and assistance of their wealthy investors and put their products into larger markets.
Website advertising constantly features Slyde Handboards on their revolving spaces, and, perhaps more importantly, the Watts were able to marry.
“We have finally been able to pay my mom back,” Angela said. “And since the show, we’re no longer working in our one-bedroom apartment. It’s a lot of money to run a small business, especially in a sport that no one’s really heard of.”
Slyde is now operated in a commercial space in Talega. Angela said the strategy on the show was to know the business thoroughly and review every aspect.
“Preparing for the show was a crazy experience, and we had to know the ins and outs of our business,” Angela said. “Obviously, when you’re going on national television you want to make sure that you answer the question with 100 percent certainty. Crunching numbers and getting help from the mentors we had helped us get a deal.”
Angela said the product has received broad exposure since the show aired. Cuban has helped the company grow with online marketing and sales, and Kutcher’s marketers have been able to send the product into larger outlets.
For more information about Slyde, visit www.slydehandboards.com.
Editor’s note: Slyde Handboards was featured in a Nov. 25, 2015, Business Beat.
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