A Colorado Springs resident passed the test on the CNBC investment show "Adventure Capitalists."
Steve Kaczmarek, owner of Borealis Fat Bikes, accepted an offer from Jeremy Bloom on Tuesday's episode of the "Shark Tank"-like reality show in which entrepreneurs aim to take their outdoor-related products to the next level. Bloom, a former world champion skier and University of Colorado football standout, offered $250,000 for a 25 percent stake in the company that reached $2.5 million in sales last year. Kaczmarek agreed, despite receiving a better offer from Bode Miller, also a former pro skier, who wanted 20 percent of Borealis for the same price.
Miller said that he could establish the all-terrain bikes in the European market, while Bloom said in his native Colorado he could boost Kaczmarek's prospects. The other two investors, Olympic gymnast Shawn Johnson East and former NFL star Dhani Jones, advised Kaczmarek to take Miller's offer.
"I gotta go with the home state," Kaczmarek said as he embraced Bloom, the 35-year-old living in Boulder.
All investors were pleased by the lightweight, carbon fiber bikes after a ride in the Alberta mountains. But Johnson and Jones said they worried about Kaczmarek's steep competition. The owner said sales have decreased since Borealis started in 2012, as many of the dealers that once bought from the company are now making their own fat bikes.
In an interview with The Gazette, Kaczmarek said he sought a spot on the show for marketing reasons. With more players entering the niche industry, he said it's becoming difficult to stand out.
During his pitch, Kaczmarek traced his work ethic back to his childhood, when at the age of 12 he needed to support the family after his father died.
"I think the business needs a lot of help," Bloom told him. "But I believe you'll stick through this tough time. I believe in you."