Danville Entrepreneur Survives 'The Shark Tank' and Hooks a Deal

Danville native Jason Lucash successfully emerged intact from the ABC hit reality TV show, ‘The Shark Tank,’ with a deal last Friday night, but not before the business Sharks took a few chunks out of each other.

The young entrepreneur is happy to finally be able to talk about the outcome of the “awesome” opportunity he had to pitch the audio products business, OrigAudio, he has built with his partner, Mike Szymczak, to five influential business leaders and investors.

(You can view the show by clicking here.)

“It was one of the coolest business experiences I have ever been involved in,” says Lucash.

He also says he is pleased that what aired “portrayed (their experience) exactly as it happened.”

The deal had compellingly tense moments that tested Lucash’s wits to hook a Shark and secure the needed capital they were asking for, to help the company reach the next level.

Lucash and Szymczak’s pitch clearly intrigued the Sharks initially, but a deal wasn’t immediately offered.

Early on, billionaire Kevin O’Leary, dropped out of the negotiations after grilling the partners about their profits and potential, and finding them problematic.

Undeterred, Lucash says when O’Leary dropped out, that was the “turning point.”

With O’Leary out of the running, Lucash strategically revealed a critical detail that sparked a feeding frenzy, and pitted the Sharks (and their egos) against one another.

Mogul maneuvering on full display, Mark Cuban, a guest Shark, tried to take charge of the action and attempted to lock out the other investors, leading to charges of bullying.

Lucash says Cuban’s move was surprisingly aggressive, but he felt Cuban “came off a lot worse than he is," saying, “he’s actually a nice guy!”

Ultimately, IT technology leader, Robert Herjavec offered the terms the partners wanted—$150,000 in exchange for a 15 percent stake in the company.

Even though others offered more money, Lucash says they went with Herjavec largely because he has the technology and innovation expertise they feel will “get them to the next level.”

Lucash says Herjavec was also the right Shark for them because he aligned with their belief in the power of business relationships to grow their company.

Lucash says he and Szymczak feel relationships big and small matter, “from the small mom and pop businesses, to the big-time sharks you align yourself with to get to the next level.”

The effects of being featured on the show were immediately felt.

Within 30 seconds of airing, Lucash says 20,000 hits swamped OrigAudio’s servers—they ultimately had to reset their servers seven times that night.

Positive reaction and feedback, as well as orders for product have been pouring in ever since.

Lucash says the partners are working out the details of their deal with Herjavec, and are gearing up for another significant milestone for the company, and one they have been pouring their time and efforts into, he says.

Next week their Doodle customizable speaker will be featured on www.Zazzle.com, the leading online source for all personalized products, based in the Bay Area.

The speakers will be the first electronics item featured on the site, according to Lucash.

Lucash says it is gratifying to see the ideas he and his friend came up with take off, and he feels they have been successful in “building the brand to the right point to get it off the ground.”

“I think 2011 is our year,” says Lucash. “You never know what the next phone call will bring.”