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Angel Investor (Individual)
daymondjohn.com

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Investments

68

Portfolio Exits

4

About Daymond John

Daymond John is an entrepreneur and angel investor. His primary industry is fashion and began the FUBU clothing line which earned $350 million in 1998. He started out making and selling tie-top hats on the streets of Queens, NY. He appears on ABC's The Shark Tank as well.Over the last 20 years, Daymond has evolved from one of the most successful fashion icons of his generation to one of the most sought after branding experts, business, and motivational speakers in the country.Daymond's creative vision and strong knowledge of the marketplace helped him create one of the most iconic fashion brands in recent years. FUBU, standing for For Us By Us, represented a lifestyle that was neglected by other clothing companies. Realizing this need in the marketplace, Daymond created the untapped urban apparel space and laid the groundwork for other companies to compete in this newly established market.Daymond grew up in the community of Hollis, Queens, quickly becoming known as the birthplace of the new genre of music called Hip-Hop, with acts like RUN DMC and Salt-N-Peppa rapidly making names for themselves. Being surrounded in this influential neighborhood helped spur the inspiration for his clothing line that would ultimately change the fashion world.His first foray into the apparel market came when he wanted a tie-top hat he had seen in a popular music video but could not find one for a good price. With the sewing skills he had learned from his mother, Daymond started making the hats for himself and his friends. Realizing he was on to something, Daymond made a sizeable order of the tie-top hats, sold them on the streets of Queens one day, and made $800 in just a few hours. There was a buzz about Daymond's products that simply could not be ignored.Based on that early success, Daymond recruited some of his neighborhood friends and FUBU was born. They created a distinctive logo and began sewing the FUBU logo on all sorts of apparel, including hockey jerseys, sweatshirts and t-shirts. The brand hit a tipping point when Daymond convinced Hollis native and Hip-Hop superstar, LL Cool J, to wear FUBU for a promotional campaign. This was the catalyst behind the entire Hip-Hop community supporting the new brand and instantly giving it credibility. In need of start-up capital to keep up with demand, Daymond and his mother mortgaged the home they collectively owned for $100,000. Soon, the home was turned into a makeshift factory and office space.FUBU gained even more nationwide exposure when Daymond and his partners traveled to the industry trade show Magic in Las Vegas. Despite not being able to afford a booth at the event, the FUBU team showed buyers the distinctively cut, vibrantly colored sportswear in their hotel room. The company came back to Queens with over $300,000 worth of orders. FUBU soon had a contract with the New York City-based department store chain Macy's, and it began expanding its line to include jeans and outerwear. A distribution deal with Korean electronics manufacturer Samsung allowed their designs to be manufactured and delivered on a massive scale. With the brand transcending into the mainstream markets, FUBU recorded annual sales of $350 million, placing it in the same stratosphere as designer sportswear labels such as Donna Karan New York and Tommy Hilfiger.After focusing on FUBU's international expansion, Daymond and his partners decided to bring back the brand that started it all, but this time with a slightly different style. They answered the call with the creation and launch of FB Legacy. Inspired by turn-of-the-century workman wear, the rebooted brand will become the mainstay in menswear in response to today's ever-changing and expensive trending fads. The fashion line has already been embraced by the Hip-Hop community with artists like Rick Ross, Lil Jon, DJ Khaled, and SouljaBoy all seen wearing it.In 2009, John joined the cast of the ABC entrepreneurial business show, Shark Tank, produced by acclaimed TV producer Mark Burnett.

Daymond John Headquarter Location

New York, New York,

United States

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Latest Daymond John News

Daymond John Is On A Mission

Jan 17, 2022

D aymond John was about to hit the spotlight at Harlem’s Apollo Theater when he stopped, bowed his head and closed his eyes. “I take a good portion of my day to pray, and I say an extra prayer when I go onstage,” John told Forbes. “I’ve got to bust my ass to inspire people.” John, wearing a black leather jacket and a tie, blue jeans and his trademark diamond earrings, walked onto the Apollo stage to enthusiastic applause. It was the start of his second annual Black Entrepreneurs Day in October. John and his team had worked with sponsors such as JPMorgan Chase and The General Insurance to award $25,000 to each of 10 Black-led startups, and the day’s program included appearances by Shaquille O’Neal, Kevin Hart, Tyra Banks and Michael Strahan. In addition to the Apollo audience, masked against Covid-19, the event drew 6.6 million viewers online. That’s the peculiar thing about motivation. People will pay to get it, and they always want more. Throughout his career, John has been a seller, able to dip into a seemingly bottomless well and ladle out inspiration to willing buyers. For years, it was part of his business. Since the murder of George Floyd, Black entrepreneurs being walloped by the pandemic and the growing influence of Black Lives Matter, it’s become his mission. John, 52, needs to look no further than his own life for motivational material. His story is a classic American up-by-the-bootstraps saga. He grew up in the predominantly Black neighborhood of Hollis in New York City’s Queens borough, also the childhood home of Reverend Al Sharpton and LL Cool J. John got his start as an entrepreneur on the streets of Harlem, not far from the Apollo Theater, selling homemade hats and t-shirts emblazoned with lines like “What happened to poor Rodney King?,” a reference to the motorist’s 1991 videotaped beatdown by Los Angeles police. FUBU Presents "Backstage With LL Cool J" - June 4, 1997 RON GALELLA/GETTY IMAGES Growing weary of big retailers selling hip-hop gear back to the Black customers who created the style, John and three friends launched apparel maker FUBU in 1992. It stood for For Us, By Us. The clothing line celebrated the culture that fashion designers like Tommy Hilfiger and Ralph Lauren had profited from for years. More than two dozen banks turned down FUBU’s loan requests. John worked waiting tables at Red Lobster to get by. Eventually, John’s mother, with whom he lived, took out a $100,000 second mortgage to finance the company. FUBU has since rung up $6 billion in worldwide sales, according to John. What put FUBU on the map was a 1997 TV commercial featuring one of its earliest spokespeople, LL Cool J. The commercial, ironically, was for Gap. The rapper showed up in a FUBU hat and included “for us, by us” in his lyrics. The result of the guerrilla tactic was millions of dollars in free advertising for FUBU and a dose of hip-hop legitimacy for the suburban mall apparel brand. By 1998, FUBU’s annual sales topped $350 million. At the heart of FUBU’s brand promise was street credibility. The company’s acronym “was a really strong statement,” said Elena Romero, an assistant professor at the Fashion Institute of Technology. “Especially at that moment in time where hip-hop music was going from a localized genre into an international phenomenon.” Like many fashion brands, it was hot and then it was not. Keith Perrin, one of the cofounders, blames over-saturation in key markets. “We tried to get as much money as we can and do as much as we can, as fast as we can,” he said. That contributed to a buildup of “about $22 million” of excess inventory, he added, that FUBU donated to homeless shelters. “We wanted to... give them out to people who need it,” Perrin said. “But it wound up hurting us in a way when people didn’t want to wear the brand anymore.” “I take a good portion of my day to pray. I’ve got to bust my ass to inspire people.” Daymond John FUBU pulled its clothing line from the U.S. in 2003, though it continued to sell apparel internationally and footwear domestically. FUBU’s 2018 collaboration with Puma marked a return for the brand and, in the view of Krista Corrigon, a retail analyst at EDITED, “really helps FUBU get their name back out into the market.” Twelve years ago, John was offered a chance to become a judge for the inaugural season of Shark Tank, where a panel of deep-pockets entrepreneurs hear pitches from contestants looking for guidance and investments. John said he almost turned down the offer because it required him to put up his own money. But the idea intrigued him, he said. “Why do I always have to be the one to do all the hard work? Why don’t I put my money to use to let my money work for me?” John, the lone Black panelist, says he has invested more than $15 million of his own money in 107 startups over his 12 years on the show. David Health, CEO and cofounder of Bombas, poses for a photo during an interview in his New York office. AP Photo/Mark Lennihan One investment that paid off was the sock-and-apparel brand Bombas, which posted $200 million in sales last year. When cofounders David Heath and Randy Goldberg pitched it on Shark Tank, John offered to invest $200,000 for 17.5% equity. They jumped at the deal. “We’d only been in business for a year,” said Heath, the Bombas CEO. A big part of the attraction, he said, was access to John. “We thought there’s no better partner for us than Daymond.” Judging by the line of people queuing up for John’s second Black Entrepreneurs Day at the Apollo, they’re not alone in that sentiment. While the duo behind Bombas is white, like many of the entrepreneurs who appear on Shark Tank, this crowd was overwhelmingly Black. Many of them likely showed up to get their dose of motivation from John. “I try to find other reasons that people were there,” John said. “The day you think that people are showing up only for you, you start feeling yourself a little too much.” John is aware his main product, his brand, has become inspiration. That’s why he shared his 2017 diagnosis of Stage II thyroid cancer. That’s why he tells stories about his life. And that’s why he wants to see more venture capital flowing into Black-owned businesses. During the initial months of the pandemic, Black-owned businesses failed at about twice the rate of other businesses. Black entrepreneurs often need to take on higher levels of debt because they start with an average of $35,000 in capital, compared with $107,000 for white entrepreneurs. They bring in about 60% as much revenue as other businesses. John’s efforts come at a time when there’s growing support for Black entrepreneurs. Goldman Sachs has its One Million Black Women initiative that commits $10 billion in direct investment capital and $100 million in philanthropic support to “ narrow opportunity gaps for Black women at key moments in their lives .” Chase for Business, which hired John to create original content, has an initiative aimed at minority entrepreneurs . There are Black entrepreneurship initiatives from companies like PepsiCo and Amazon , not to mention new initiatives to train Black entrepreneurs , help them accelerate their businesses , connect them with venture capital and help them get ongoing support . (Supporting and chronicling the state of Black entrepreneurship is a foundational principle for For(bes) the Culture , where John is a member of the advisory board.) These efforts are a good start, but for John’s prayers for Black economic empowerment to come true, it will take more. The market for inspiration will never dry up. Send me a secure  tip .

Daymond John Investments

68 Investments

Daymond John has made 68 investments. Their latest investment was in Spergo as part of their Corporate Minority on November 11, 2021.

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Daymond John Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/8/2021

Corporate Minority

Spergo

$0.3M

Yes

1

6/30/2021

Series B

Trainual

$27M

Yes

4

1/14/2020

Angel

Wise Pocket Products

$0.04M

Yes

1

4/29/2019

Angel

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$99M

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10

3/18/2019

Angel

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$99M

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10

Date

11/8/2021

6/30/2021

1/14/2020

4/29/2019

3/18/2019

Round

Corporate Minority

Series B

Angel

Angel

Angel

Company

Spergo

Trainual

Wise Pocket Products

Subscribe to see more

Subscribe to see more

Amount

$0.3M

$27M

$0.04M

$99M

$99M

New?

Yes

Yes

Yes

Subscribe to see more

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Co-Investors

Sources

1

4

1

10

10

Daymond John Portfolio Exits

4 Portfolio Exits

Daymond John has 4 portfolio exits. Their latest portfolio exit was BuggyBeds on May 04, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

5/4/2021

Acq - Fin

1

9/16/2020

Acquired

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10

5/13/2020

Acquired

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10

1/27/2017

Acquired

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10

Date

5/4/2021

9/16/2020

5/13/2020

1/27/2017

Exit

Acq - Fin

Acquired

Acquired

Acquired

Companies

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Valuation

Acquirer

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Sources

1

10

10

10

Daymond John Acquisitions

2 Acquisitions

Daymond John acquired 2 companies. Their latest acquisition was Moki Doorstep on January 07, 2019.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

1/7/2019

Seed / Angel

$99M

$0.11M

Acquired

1

8/15/2009

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$99M

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10

Date

1/7/2019

8/15/2009

Investment Stage

Seed / Angel

Companies

Subscribe to see more

Valuation

$99M

$99M

Total Funding

$0.11M

Note

Acquired

Subscribe to see more

Sources

1

10

Daymond John Team

1 Team Member

Daymond John has 1 team member, including former Chief Operating Officer, Rhonda Levene.

Name

Work History

Title

Status

Rhonda Levene

Chief Operating Officer

Former

Name

Rhonda Levene

Work History

Title

Chief Operating Officer

Status

Former

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