The 12-year-old San Clemente, California entrepreneur who cut down a normal skateboard to fit into his locker has just received a hefty investment from Richard Branson. Carson Kropfl appeared on ABC’s “Shark Tank” on Sunday evening and was awarded a $65,000 investment by Branson for a 20-percent stake in Kropfl’s Locker Board venture.
The season premiere of the ABC show featured Kropfl and his mother Carrie Kropfl as the first guests pitching the “sharks” on his Locker Board. Kropfl has already made $10,000 in profits with Locker Board (as his mom Carrie points out in the episode). He has grown large enough to now be working with a manufacturer who is cutting the boards for him, leaving Kropfl to only have to put on the trucks and wheels.
Kropfl gave his pitch to the sharks and was given three offers: $60,000 for a 20-percent stake in Locker Board, a $60,000 loan and Branson’s $65,000 for a 20-percent stake in the company. Branson told Kropfl, "I see a young Richard Branson in you. You've got a wonderful story. You are very articulate. Your product itself is great. We'd love you to give it a shot with us."
These words (and the extra $5,000 investment) were enough for Kropfl to agree to the deal. Plus, Branson’s expertise in the international market was very attractive to Kropfl who hopes to grow Locker Board with the investment from Branson.
Kropfl told The OC Register, "I'm just going to put more back into the company. I'm going to meet with him [Branson] Oct. 14-15 in San Francisco."
Kropfl did incredibly well on “Shark Tank” and had answers for any and all concerns the sharks could come up with. Now with a legitimate investment and currently awaiting patent-pending status, it seems Kropfl and his Locker Board creation have quite a future ahead of them.
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