In a recent episode of ABC’s Multi-Emmy Award-Winning Entrepreneurial Themed Reality Show, Shark Tank showcased the Black-Owned Comic Book Publisher and Animation Brand, Black Sands Entertainment.
Founded by Manuel Godoy, his wife Giszel, and partner Teunis De Raat, Black Sands Entertainment focuses on inclusivity and educating people on the multiple rich layers of Black history and culture that go beyond the experience of enslavement and colonization.
In 2016, the company produced Comic Books, Novels, Children’s Books, and animation that are inspired by African Mythology. This also created Black Heroes that are surrounded by diverse storytelling that focuses on traditional family values for people of color. Black Sands is also cultivating independent artists and writers to publish their work through them.
According to Yahoo News, and Black Girl Nerds, To date, Black Sands Entertainment has raised more than $2,000,000 from over 5000 investors from its fundraising campaigns on WeFunder. The independent organization has joined forces with senior animators from Disney, Sony, Pixar, Bron, Amazon Studios, Nickelodeon, Rainmaker, etc. They receive five million impressions a month on social media sites, have sold more than 200,000 products, and are expanding their brand success with the Black Sands Publishing app launched in May 2021.
On this episode of Shark Tank, Manuel, his wife, and their partner were prepared to offer a 5% stake in the company in return for $500,000. The Guest sharks, Mark Cuban and Comedian Kevin Hart were interested in this unique company and offered Manuel $500,000 in exchange for a 30% equity stake in the brand.
Manuel was hesitant to make a deal with Hart and Cuban because he would have to give away a significant amount of the company’s equity. He made a counteroffer for a lower equity stake with a royalty clause. The Sharks were not satisfied and pointed out to Manuel that they would achieve actual revenue through movie or television deals and brand sponsorship. Hart also told Manuel he brings a whole ecosystem that can help with production, animation, and marketing, and Cuban said he would facilitate the technology angle. In the final moment, he would accept their offer and finalize the deal.
SOURCE: Yahoo! News, Cartoon Brew, Meaww
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