8-year-old CEO scores big on ‘Shark Tank’ with clever sports invention — proof age is just a number
‘Shark Tank’ honors all entrepreneurs regardless of their age. But when 8-year-old CEO Gavin Batarse came on board and impressed the judges with his pitch, he left a lasting impression. The young entrepreneur pitched his product, Glove Wrap, and walked away with a $50,000 investment. He invested in an elastic band that helps baseball players break in their new gloves. “An elastic band with the exact width, length and thickness needed to break in and shape your entire baseball glove while forming a perfect pocket,” he said, explaining the product. “Just place a ball in a glove and wrap it up with Glove Wrap. That’s literally it,” he added.
Gavin was accompanied by his father, Jon, and sister Morgan, and the family sought $50,000 for a 20% equity in their company. The product has a $3 manufacturing cost with $19.99 retail selling price and $10 wholesale price. The profit margin seemingly impressed the sharks, as everyone gasped. The young CEO didn’t hesitate from asking ‘Shark’ Mark Cuban about his association with Dick's Sporting Goods, a company known for selling sports related items. “Glove Wrap would do good right next to where they sell their gloves,” Gavin added, and Cuban agreed.
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However, the investor suggested that selling the product in bulk to baseball teams will be more valuable. That’s because the teams would want the product to give to the players and maybe even the fans. “Instead of having to sell them one at s time, you can sell a bunch at a time,” he explained. “Instead of having ‘bat day,’ you can have ‘glove wrap days’ to give away to the kids,” he suggested. Investor Barbara Corcoran wasn’t too interested in the product, claiming that she owns a similar stretchy exercise band. “What is the difference?” she remarked and opted out of the deal.
Fellow judge Kevin O'Leary started by praising the young entrepreneur for his “amazing” pitch and jokingly asked him to work for him. “I insist on this in any deal from an 8-year-old. You gotta drop out and you gotta work for me full time,” the investor said. When Gavin denied, O’Leary teased that he didn’t want him to do that, but “he’s out.” Lori Greiner further praised the “super clever” young CEO but opted out of the deal because there were other “sporty Sharks” more suited for him. Michael Rubin, who was a guest judge for the episode, seemed super impressed and sealed the deal in tandem with Cuban.
Although the show has seen many young entrepreneurs pitching their products, Gavin, being the youngest so far, created history on the show. When 13-year-old Sophie Overton graced the ‘Shark Tank’ stage, she left an equally strong impression. The young founder of Wise Pocket products stunned the judges with her pitch with the help of a Hip-Hop dancer crew who demonstrated the durability of her product. Just when the judges were sold on her calibre, she further impressed them with her negotiation skills. “Sophie got negotiating skills,” Cuban announced with a laugh.
