Tribu Experientiel

Micah Desforges, from Montreal, asked for $300,000 for 10% of Tribu Expérientiel. The company creates major experiential events such as urban mountain biking and Ski-Doo stunts to help cities and brands attract tourism, working with tourism boards, ad agencies, event planners and brands as a turnkey solution. The company has grown from a backyard snowboard party nearly ten years earlier to 15 full-time staff working on about 50 projects a year in Canada, with plans to expand into Mexico and Brazil. Sales are at $4.5 million with a 5% net profit margin this fiscal year, projected to reach $8 to $10 million next year with a 7% margin. The funds were sought to build connections to expand into the U.S. market.

Manjit Minhas, Michele Romanow, Vincenzo Guzzo and Jim Treliving all went out, citing concerns including low margins, risk-versus-reward, being in a related but different entertainment business, and no longer wanting to be in the events industry. Arlene Dickinson initially declined but returned to offer $300,000 for 20%, then negotiated down to 18%, which Micah Desforges accepted.

Tribu Experientiel is still operating and sells through its website.