Denis Okhrimenko sold his 25% stake in 3D wooden construction set Ugears to his major investor Denis Shestak. The total company is worth UAH 31.2mln (USD 1.1mln), while 25% is – UAH 7,8mln. At this, the founder asked for more and the deal was struck, according to Gennadiy Shestak. As a result of the deal, Gennadiy Shestak owns 100% of the company shares.
Denis Okhrimenko plans to channel the funds from the deal into his new project of 3D metal construction set Time 4 Machine. To remind, the project attracted USD 52 800 at Kickstarter crowdfunding platform.
The founder of 3D construction set projects mulls still another campaign with his Pigl project. As Pigl may become a competitor to Ugears, Denis decided to exit from Ugears.
To remind, Denis Okhrimenko created a startup Ugears in June 2014. In summer 2016, he stepped back from running the company. He explained this decision by a sort of a pressure from the investor Gennady Shestak who denied those accusations.
Nevertheless, the project Ugears successfully carries campaigns on Kickstarter. Recently, it managed to attract USD 290 000 too.
