By now, you should now that Under Armour is flat out killing it. The Baltimore-based entity brought in $1.17 billion last quarter, bringing its 2015 annual revenue to a staggering $3.9 billion. For 2016, the brand is calling for even bigger numbers to the tune of $4.95 billion. As impressive as these figures are, there was a time not long ago when Under Armour's CEO couldn't even afford to pay a toll both attendant the $2 he needed to return home.
In a new interview with Shark Tank investor Daymond John — the man best known for launching FUBU — Under Armour CEO Kevin Plank reflects on the brand's earlier days. Specifically, Plank takes us back to 1996, when he launched Under Armour with $16,000 in life savings.
"I figured, I got all these famous friends, I'm gonna get the product to them. People are gonna see the logo, and we'll be exploding in no time," Plank said. "It's just not the way it happens. It never happens as fast as you want it."
From there, Plank recounts a story about withdrawing $3,400 from the bank for a gambling spree in Atlantic City. Before long, he had blown all the cash on a blackjack tournament, and soon he was driving back empty-handed on the Delaware Memorial Bridge. That's when Plank pulled up to the $2 toll booth and realized he couldn't afford it, a moment he calls "the worst experience" of his life.
Check out the story straight from the horse's mouth in the clip above.
