Carly and Charley’s Odd-Sox Project

Carly Goldhar and Charley Rangel, both ten-year-old best friends from Thornhill, Ontario, asked for $25,000 for 25% of Carly and Charley's Single Sox, a company selling packs of three single, mismatched socks for $14.99 retail, with a wholesale price of $8 and a cost of $4 each. The brand grew out of their Odd Sox Project, a charitable initiative pairing gently used or new single socks and donating them to homeless shelters, through which they had already donated 18,000 pairs against an original goal of 5,000. The socks are manufactured in Toronto, and the founders said profits from Single Sox would largely go toward funding more sock drives for the Odd Sox Project rather than personal salary; they projected $20,000 profit from 5,000 sets sold to retail and $54,950 profit from 5,000 sets sold online.

Manjit Minhas offered $25,000 for 25% and was quickly joined by Michael Wekerle on the same terms. Joe Mimran offered to match at $25,000 for 25%, and when all five Dragons discussed combining into one deal, Joe Mimran proposed 33% for the group, which Michael Wekerle rejected, saying he would not take a larger stake from a 10-year-old's company. After consulting with their mothers by phone, Carly and Charley chose to accept the joint offer from Manjit Minhas and Michael Wekerle at $25,000 for 25%.

Carly and Charley’s Odd-Sox Project is still operating and sells through its website.