‘Shark’ invests $300,000; MBA alums celebrate
Start-up company Revolights, which has not one but two UC Davis MBAs in its ranks of seven, scored a $300,000 investment on ABC Television’s “Shark Tank” last Friday night.
“It’s been an incredible experience,” said Adam Pettler MBA ’11, chief financial officer for Revolights Inc., maker of wheel-mounted bike light systems. Pettler was a full-time MBA student on the Davis campus when he developed the Revolights business plan in an independent study course supervised by Marc Lowe, an adjunct professor.
Danny Wong, a 2011 graduate of the Graduate School of Management’s part-time MBA program in the San Francisco Bay Area, heard about Revolights from Lowe — and now serves as the company’s business manager.
President and Chief Executive Officer Kent Frankovich, whose idea launched the company in 2011, represented Revolights on the show, which was taped last September. Frankovich asked for $150,000 in return for a 10 percent equity stake in Revolights, and didn’t even have to negotiate to get double what he wanted — when “Shark” Robert Herjavec offered $300,000 for 10 percent equity.