Kronos Golf uses CNC technology and tears to land deal on ABC's "Shark Tank"
Kronos Golf is still trying to make it big in the putter manufacturing business. But the company has already struck a chord with people around the world.
Last Friday, co-founders Phillip Lapuz and Eric Williams appeared on the ABC show, "Shark Tank," a program on which entrepreneurs pitch their businesses or ideas in the hopes of striking deals with the show's host. Seeking $150,000 for a 15-percent stake in Kronos Golf, Lapuz got very emotional during the presentation when he talked about needing financial security with his company so he can bring his fiancee to the U.S. from Japan. Check it out:
Kronos Golf is based in San Diego and mills its putters from one piece of metal with a computer numeric control (CNC) machine. Putters take six months to two years to be completed and they are made in small batches (from 70-200 at a time).
The sales pitch had even the show's toughest customer, Kevin O'Leary, tearing up. It was also strong enough to procure a deal from another one of "the Sharks," Robert Herjavec.
Of course, Lapuz's tears could only go so far. Herjavec invested the $150,000 being asked, but for a 30-percent stake of the company.