A Missouri S&T graduate recently appeared on ABC’s “Shark Tank” and received an offer to purchase a percentage of his company, but after multiple counter-offers, no deal was made.
M-T Strickland, an alumnus of S&T’s electrical engineering program, represented the Metric Mate company on the episode, along with his business partners, Braxton Davis and Ecleamus Ricks Jr.
Strickland, the company’s CEO, began his team’s pitch, and he noted they were seeking $100,000 for 5% of the company.
After having Mark Cuban use Metric Mate’s patented technology, which allows users to measure and analyze several aspects of their workouts, Kevin O’Leary, one of the show’s “sharks,” made an offer.
The offer was for $100,000 to purchase 25% of the company. After some negotiations, the Metric Mate team refused the offer, but Strickland says his team has no regrets. The group was opposed to the deal due to the progress they already made in terms of patents, intellectual property and software.
To learn more about Missouri S&T’s electrical engineering programs, visit ece.mst.edu.
Missouri University of Science and Technology (Missouri S&T) is a STEM-focused research university of over 7,000 students. Part of the four-campus University of Missouri System and located in Rolla, Missouri, Missouri S&T offers 101 degrees in 40 areas of study and is among the nation’s top 10 universities for return on investment, according to Business Insider. S&T also is home to the Kummer Institute, made possible by a $300 million gift from Fred and June Kummer. For more information about Missouri S&T, visit www.mst.edu.
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