Sharks deny MobCraft
MobCraft’s appearance on the popular ABC show Shark Tank left owner Henry Schwartz without any funding, but holding his ground.
The Madison-born craft brewery was seeking $400,000 in exchange for a 16% stake in the company. The investors showed mixed reactions to some of the unique beers Schwartz presented, but the biggest hanging point seemed to be the fact that MobCraft insisted on opening and operating its own brewery, an expensive proposition. On that point, Schwartz would not relent, and he left with no investment money.
Within three days of the episode airing, Mobcraft’s website visits reportedly increased by 40-fold, recipe submissions by 15-fold, and orders tripled.