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Best Secures Funding

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Best Secures Funding

Postby gumball » Thu Feb 23, 2006 4:32 am Secures Financing, the Web-based action sports manufacturer and retailer founded by internet entrepreneur Alex Shogren and professional wake-boarder turned kite-boarder, Shannon Best, has closed on its first round of funding led by Allen & Co., the New York investment bank. Other investors include several influential names from Wall Street and the action sports industry.

Ian Huschle, CEO of parent company Best Action Sports, Inc., said, “We’re extremely well positioned with the business experience and financial backing of our new partners. This investment gives us the wherewithal to push forward with our broad development plans for the brand, both within kite sports and the wider action sports market.â€

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Postby troy » Thu Feb 23, 2006 5:16 am

Way to go! Congrats :thumb:

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Postby kiterfighter » Thu Feb 23, 2006 5:22 am

WTF? They got a loan to do what? Its fucking Brunos patent. More BS and hype from Best. Predictable.

Its' more likely they needed cash infusions to maintain them during a dry spell while they retool for bows. Writing on the wall and they got caught with their pants down. Twice in fact. Once with the failed Hellfish and again by not starting the Waroo earlier.

I ride yargas.

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Postby gonewiththewind » Thu Feb 23, 2006 6:35 am

Investing in Kmart would have been a good idea too.

BEST certainly has its place. But at least Kmart doesn't try and pretend that they're Saks 5th Avenue.

Personally, I shop at Kmart so that I can save my money to buy kites that are better than that.

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Postby FlyingHigh » Thu Feb 23, 2006 8:42 am

"Best Action Sports"??

So whats the non-kiteboarding product BEST is going to launch?

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Postby No Pump ReQuired » Thu Feb 23, 2006 11:52 am

FlyingHigh wrote:"Best Action Sports"??

So whats the non-kiteboarding product BEST is going to launch?
Joe Public just made BEST SUCKERS,

good luck on that...

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Postby BigR » Thu Feb 23, 2006 12:10 pm

When is the IPO for the Venture Capitalists?

VC's dont buy in unless there's a clear exit strategy
for them so they usually look for bagholders to dupe.

Or maybe BAS, inc. will buy a shell penny stock company
and reverse split it to list and put out PR's to suck in the bagholders.

The only thing I'm sure of is that Alex will be in charge of the
dog and pony show when they want to run up the PPS

My advise, use the boiler room to spead the word amongst
the elderly investors and don't forget the kickbacks to the
third tier analysts and their brokerage boutiques :thumb:

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Postby webhiker » Thu Feb 23, 2006 12:35 pm

"now we are the largest kiteboarding company in the world"

Did they suck that out their arse?
I've seen a total of 3 best kites in my 4 years of kiting.
Maybe they are big in their local town, cos they give every Tom Dick and Harry a free kite to make it look like they have customers.

Carbrinha's Bow range is outselling them real bad.

So waht are they largest at?
Total kites sold? Obviously not
Total profit made? Not with their margins
Total employees? No way
Total bullshit out? Ahh, maybe this is true after all.

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Postby pierre.d » Thu Feb 23, 2006 12:38 pm

Securing funding in Wall Street is a pact with the devil,
especially in a small business like the kite business is.

you have these guys to watch your back now, good luck !

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