Ben Young of Kappa Alpha Psi Fraternity, Inc., and his business partner Gregory Coleman have made Shark Tank history by landing a $1.5 million investment billionaire Mark Cuban.
The two presented their company Nexercise’s latest product on last Friday’s episode of the business pitch show. The product is an already popular interactive fitness app called Sworkit. The app offers customizable and randomized workouts and is already ranked as the #3 fitness app in the App Store.
“Our mission is to become the leading global standard for all instructional exercise,” Young said in a statement. “The exposure from the Shark Tank with allow us to reach even more users.”
Young and Coleman’s initial pitch was for $1.5 million in return for 8 percent equity in their Rockville-based company. Mark Cuban raised his equity to 10 percent, but they still got very close to their original mark and now they are walking away with the money and the backing of one of the businesses most powerful billionaires.
Ben Young crossed the Eta Sigma chapter of Kappa Alpha Psi at the University of Virginia in 1994.
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