Arum reflected on that famous TV moment in a 2019 interview on the podcast Numbers Geek With Steve Ballmer. Arum explained why she turned the billionaire down when he proposed what was then the biggest offer in Shark Tank history.
“When we got offered that amount, I didn’t have to even think for a second that we would even consider taking that offer because we see so much bigger opportunity in this space, not only monetary-wise just given how the market is growing, but also the kinds of impact that we can make,” she said. “To sell the company at that point would have just been way, way, way too early. We would be just really short-selling ourselves.”
Arum believes that Cuban was serious about the offer, even though he was “out” on the deal at the time. The Dallas Mavericks owner bailed after the Kang sisters refused to get specific about their user count.
“We were on stage for about an hour,” she said. “Of course, it was edited down to 10 minutes, and yes, initially in the dialogue, he was out, but then essentially he came back inside and back into the deal, and then we were going a lot back and forth. It was very clear to me he’s looked at this industry before. He was a very informed investor. He asked a lot of great questions. Well, I mean, you just never know, but I do think he was serious.”
View more information: https://marketrealist.com/p/who-owns-coffee-meets-bagel/