Expo Centric was aired on Shark Tank, a popular commercial show in September 2016. Stan entered promptly and asked for a big amount. Guess how much? Yes! He proposed $2 million. At the moment, his business was valued at $20 million. He intended to use the funding and expand to the level where it can monopolize the marketplace to enlarge internationally.
Were the Sharks able to make up for that request? Was it worth it? To know about it, you have to read the article thoroughly.
Quick Facts
| Founders name: | Stan Kruss |
| Business details: | A company that designs, constructs and project manages custom exhibition stands |
| Founded in: | 2009 |
| Location : | Melbourne, VIC, Australia |
| Asking of Company: | $2 Million for 10% of equity |
| Accepted Deals: | No Deal |
| Shark on board (Investors): | None |
| Shark Tank Episode: | Season 01 Episode 04 |
| Net Worth | $15 Million |
| Business Status: | Active |
| Last Updated: | Mar 09, 2024 |
| Social Media | Instagram |
About the Founder
Expo Centric is owned by Stan Kruss. As stated by him, his loved ones were severely impacted by the worldwide economic downturn. He suffered significant losses as a result of the 2008 GFC and he felt it was a good time to act independently and create history. After making a basic layout he started making inquiries to organizations after having the initial concepts laid out and ready.
Founding the Expo Centric
Expo Centric is a full-service business-to-business enterprise that provides presentation booths. It is an expert in customizable trade show displays. That is, they are capable of creating and offering seats at lower costs compared to their exhibition industry rivals.
Each fair shares particular element that can be changed and swapped based on the specifications of the customer due to the flexible structure. This results of the product is not just far less expensive but also healthier for the environment.
Shark Tank Appearance
Stan startled the Sharks right away after entering the Tank. His organization is valued tremendously at $2M for just a 10% share.
Sharks were not sure if Expo Centric was unique enough to invest in. Because of the intense competition in the exhibit industry, larger intimidating people are always available to develop their flexible platform. The exhibition’s limited character was one of the main causes of worry. This industry is quite sporadic. The business can grow rapidly at the same time, it can stop at any moment. However, it appears that the Sharks were correct in their worry because COVID arrived and completely wrecked the presentation area.
However, Baxter advised Kruss to approach the situation differently and stated his opinion that Expocentric must place its shares on the Australian Stock Exchange. In consideration of that, Krus’s claims were equivalent to around 12.8% equity. Baxter promised $500,000 along with a total of $1.5 million depending on the company for getting traded on the ASX within the following 12 months.
Stan Kruss considered every scenario in his mind before deciding to reject the offer. He claimed that he wished to focus on his business rather than the associated procedures for publicity.
After Shark Tank
Expo Centric developed a lot, without the hands of the Sharks until the COVID pandemic, it performed extremely well. Stan was able to effectively transform his attention to the world of the web and keep providing commercial chances like digital booths to companies across the globe.
The total estimation of Expo Centric’s fortune will be between $10 and $15 million in 2024, less than Stan’s initial assessment.