What happens when you can’t agree to terms with Mark Cuban?
That was the million-dollar question last spring when the co-founders of Rockville-based Nexercise Inc. and creators of its Sworkit fitness app walked away from a deal with the “Shark Tank” investor and billionaire owner of the NBA’s Dallas Mavericks. It meant the entrepreneurs would proceed without Cuban’s partnership and original offer: $1.5 million for 10 percent ownership of the business, plus $1.5 million worth of the app’s unsold ad inventory.
Now more than a year later, the answer to the question has become clearer, and the founders are executing their new plan: to expand Sworkit — a mobile and web platform that offers 23
Nexercise CEO Ben Young and his team are working with doctors, physical therapists and chiropractors to add rehabilitation exercises to their product in hopes of ultimately replacing hard-copy…Read the full story from the Washington Business Journal.
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