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The 12-year-old creator of a skateboard that fits into school lockers and backpacks received a $65,000 investment from Sir Richard Branson for a 20% stake in a company he created with his parents on the season premiere of “Shark Tank,” last night.
Carson Kropfl accepted the offer to his San Clemente-based Locker Board, a company DBA Streetubez LLC, which he launched with his parents, Keith and Carrie Kropfl. Carson Kropfl created the website and online store late last year.
Carson Kropfl was seeking $60,000 for 15% equity. Shark Mark Cuban offered $60,000 for a 20% stake and another shark, Robert Herjavec offered a $60,000 loan, with no equity. Kropfl chose Branson as his partner.
Sir Richard Branson founded Virgin Records and Virgin Atlantic Airlines—successes he’s grown into a multinational venture capital conglomerate with more than 400 companies. Forbes estimates Branson’s net worth at $5.1 billion.
For more the Kropfls and Locker Board, see the Startups Column in today's print edition of the Business Journal.