Jessica Haynes invented “modular” shoes. An interlocking, magnetic mechanism enables the wearer to change from a high heel to a wedge to a flat in seconds. Women can always have shoes that match their outfits without needing multiple pairs of shoes. They are a great space saver for traveling. Jessica had won the Southern Arkansas University’s Innovation Award and so was encouraged. And the sharks were impressed. The problem came when they found out the shoes were only a prototype, and she had no sales, no website, no business plan.
All the sharks dropped out except for Daymond. He was touched that she used her own money, some left to her by her grandfather, some that she worked for, to start her business. He gave her $70,000 for 70% of her business. He admitted it was a greedy offer, but he had a lot of work to do from the ground up. Jessica was happy to accept: “A little bit of something is better than a whole lot of nothing.” But the business did not survive. Jessica posted a message on Facebook thanking all her supporters, especially Daymond “for the mentorship he provided through this endeavor.”
JesKa Shoe Co is no longer in business.