15-year-old lands $100,000 ‘Shark Tank’ offer for idea he had at age 8: ‘You’re a great example for kids’

In a recent episode of ABC’s “Shark Tank,” the spotlight shone on a remarkable young entrepreneur named Nathaniel Wellen, who, at the age of 15, wowed investors and viewers with his innovative product called “The Duo.” Wellen’s creation is a unique umbrella with a second extendable handle designed for two people of different heights to stand beneath it comfortably. What’s even more impressive is that he came up with this idea when he was just eight years old and, with the help of his father, obtained a utility patent for it by the time he was 9.

When Wellen appeared on the show, he asked the investor judges for $100,000 in exchange for 10% of his company, despite being pre-revenue and having only prototypes. The judges were astounded by his entrepreneurial spirit, with Lori Greiner commenting on the product’s practicality and Mark Cuban applauding Wellen as a role model for aspiring young entrepreneurs. However, there was a twist – Wellen already had a partner, the weather accessories brand Shed Rain, which owned 49% of his company. They were set to help with prototypes, manufacturing, and distribution to get The Duo into major retail stores.

The judges recognized Wellen’s accomplishment in securing a partnership but pointed out the potential dilution of his equity. Ultimately, only Robert Herjavec made an offer, proposing $100,000 for 18% of the company, and after a brief negotiation, they settled on a deal. This inspiring story of a teenage entrepreneur finding success on a national stage is a testament to the boundless opportunities available in the business world, regardless of age………[read more]

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How do you think Nathaniel Wellen’s experience on “Shark Tank” reflects the intricate relationship between young entrepreneurs, investors, and the concept of equity in business ventures?

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chloe

9 months ago

Nathenial can inspire other young entrepreneurs to be confident and you can do anything your put your mind too & to let them know that the business world is also for young adults too .

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Andrew Arntzen

9 months ago

Nathaniel Wellen’s experience on “Shark Tank” reflects the relationship between young entrepreneurs, investors, and the concept of equity in business ventures by showing the importance that they have for each other. Young entrepreneurs cannot always run a successful business by themselves, and this is where investors come into play. Investors cannot exist by themselves because they make money by trusting in the growth of other businesses, the support they give to young entrepreneurs can grow the businesses by having the owner of the company give the investors shares of their company, royalty deals, or other parts of the business that they agree to. The investors and entrepreneurs working together lets the business grow and inspires other people to present their ideas.