Why one entrepreneur declined a $200,000 investment

02/3/2013 | Inc. online (free registration)

Derek Pacque was inspired to start his company, CoatChex, out of his frustration that with bars that lack places for customers to leave their coats. His company uses portable coat racks and eliminates the need for paper tickets by collecting phone numbers or other information from patrons. Pacque went on the TV show "Shark Tank" but rejected a $200,000 investment offer from entrepreneur Mark Cuban because he thought the valuation of his company, set for expansion, was too low.

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