Mark Cuban made the biggest tech deal ever on ABC's Shark Tank with D.C.- based mobile fitness app maker Nexercise, the creators of Sworkit. In an episode that aired on Friday, the two-year-old company agreed to give Cuban a ten percent equity stake for $1.5 million in investment and up to $1.5 million in unsold ad space.
Cuban, who owns the Dallas Mavericks NBA team, clearly saw a big future for the app and its designers. It's the third largest deal ever made on the show period, and means that Sworkit can start planning to go beyond just a mobile app. There are plans to put the service on the Web and for the Apple TV and Google TV systems.
Sworkit isn't the first D.C.-area startup to go on Shark Tank. In January, Columbia, Md.-based Hungry Harvest scooped a $100,000 investment from investor Robert Herjavec, the CEO of global IT giant the Herjavec Group, for a 10 percent stake. In addition, Surprise Ride, a subscription package service that delivers DIY toys, decided not to take the offer on the table.
You can watch the whole episode (Nexercise went first) below.
VIDEO:
