Michele Romanow, Clearco co-founder, president and Canadian tech entrepreneur has been a entrepreneur for the past decade and eight years ago was asked to join the cast of the Canadian version of Shark Tank. She says what she saw was all these entrepreneurs coming on the show, giving up way too much of their company at the early stages. They were coming in with great product and said they were willing to give up ten percent of their company for their first $100,000, so go buy those Facebook Google ads and inventory. Michele says I thought that was a terrible idea for founders to be giving up so much of their company so I said I would do a different deal. I will give them that $100,000 they were looking for and instead of taking ten percent of their business that they have known forever, I would take ten percent of their revenue just until I got my capital back plus six percent. She says there would be no personal guarantees and that’s why we have been able to invest more than two and a half billion dollars in six thousand companies across America making us on of the largest E-commerce investors and I can’t wait to invest more.
Posted at 7:02 PM, Nov 23, 2021
and last updated 2021-11-23 19:02:33-05
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