CoatChex, the brainchild of Derek Pacque, is a ticketless coat check system that Pacque pitched in Season 4. Cuban was impressed enough by CoatChex to offer $200,000 for a one-third equity stake, representing a valuation of $600,000 — far less than the valuation of $2 million Pacque originally proposed.
Ultimately, Pacque decided he didn’t want to give up that much of his business, but he has found success even without the funding. His CoatChex system has since been used at major events like the Super Bowl, New York Fashion Week and Mercedes-Benz Fashion Week, according to Business Insider.
More recently, Pacque has incorporated Chexology to add additional services to the CoatChex family, including bag checking and rentals. Chexology closed a $1.2 million seed funding round in 2015, according to CrunchBase.
Pls find the link to the original article below
13 Million-Dollar Businesses That Turned Down ‘Shark Tank’ Deals
Techylawyer and its authors do not claim to have written this article, we acknowledge the works of the original author