Sound Bender on Shark Tank Show
I-Pad Audio Enhancer - Season 4 - Episode 414
|Mosche Weiss Inventor of the|
Sound Bender for iPads
What's more impressive then having a successful Kickstarter campaign to impress the Shark Tank Investors? How about complete two within 6 month's and raise at least double your goal in each campaign. That's exactly what Moshe Weiss, a rabbi from St Paul, MN.and the inventor of the SoundBender for iPadsdid. The Sound Bender is powerless iPad accessory that amplifies the sound by several times. You simply connect the power bender to any iPad device with built-in magnet's and it bends the sound from the back and directly amplifies to the front for a dramatic increase in sound. Now why didn't Steve Job's think of that?
Moshe Weiss has been on a crash course in the past year to bring the Sound Bender to market.
Along this bumpy and accelerated path, Weiss has learned some very valuable business lessons that has finally led him to the biggest Angel Investing Panel in the entire country, The Shark Tank Show. Having two successful Kickstarter campaign's may of what got him here but the story actually begins in late 2011 when his first attempt at a campaign did not meet it's goal to fund Sound Bender.
|Sound Bender works on all iPads|
Keeping Up with Apple
Sound Bender before the Shark Tank
Moshe Weiss has already managed to get the Sound Bender in 350 Walgreen Stores around the country with more soon to be added. This type of distribution is usually music to the Sharks ears. Weiss recently was quoted saying he has so far sold in excess of 10,000 units at that time.
What has me baffled on this particular product is the lack of online presence Weiss has chosen not to pursue when millions of people will see the Sound Bender for the first time. The SimplyAmazinc.com website is as simple of a 3 page site as you can get with no way of ordering the Sound Bender directly. It does have a phone number 952-951-8434 which maybe a way of buying the Sound Bender directly but that doesn't make much sense (or dollars) in this day and age. Especially if 10,000 people all try to call at the same time. Instead the site refers you to either Amazon or EBay to buy it online.
They also include the following:
"Please contact us with your specific requests, including interest in becoming an Authorized Reseller."
Unfortunately for Weiss, the Shark Tank Show is on Friday Night, the day he observes the Sabbath and will be unable to watch the Show when he will be seen by millions of people. No doubt he will watch it Saturday Morning for sure.
SoundBender Available at Amazon
Sound Bender after the Shark Tank Show
Moshe Weiss came into the Shark Tank requesting a $54k investment for 26% of the Soundbender business. I'm not exactly sure where these numbers came from but it had a few Sharks scrambling to figure out the valuation. If you don't want to be eaten by a Shark, the best thing to do is make Friends very, very fast. And that's exactly what Moshe did with his very likable personality. He had them all laughing and having a good time, and at the same time, slowly reeling in a giant Shark on what appears to be a rather simple invention. In fact, he even makes a joke on how simple it is. But this simple invention has HUGE margins and that's music to the Sharks ears. Weiss defends his high margins by saying" Hey a rabbi's got to eat too, right?". He says it cost about a dollar to make the Sound Bender (without the packaging) and retails for $12.99 each. Yes, that is indeed very large margins and well above the average of 4 times the cost the Sharks are use to seeing.
So far Weiss has sold 7000 Sound Bender's in just the past 6 months mostly to the online distributors mentioned above. With such high margins, why not also sell them directly to the consumer? This is a great way to sell in large quantities and maximize your profits while sharing the wealth with online marketer's. He also happens to mention that Walgreen's has a very strong interest in caring this product on a national level.
Barbara Corcoran asks Weiss a question all Angel Investors want to know and he comes up with the Very Best Answer anyone could ever come up with. Barbara wants to know how she would get her money back from this invention. Moshe responds "I will write you a check". Yep, good answer!
Daymond John is the first to make an offer of 40% of the business for the $54k Moshe is seeking if indeed a Walgreen's deal can be completed. Robert Herjevic makes the same offer but will take Moshe's word the Walgreen's deal is real. He is given 10 seconds to make up his mind.
Daymond John makes a Deal with Moshe Weiss and the Sound Bender Business!
You got a heck of a deal Daymond. I can't believe Moshe didn't try to counter your offer which you KNOW you would of accepted : )
If you are looking for a Sound Bender type of speaker for your NON iPad devise, I just ran across another very similar product called the Ear Jell on Kickstarter.com. It does not use the patented magnetic devise but instead uses a reusable sticky pad that easily comes on and off the back of almost all devises including iPod's, tablets and most smart phones.
As of this writing there is 13 days left in Camesha Mullner's campaign so you still have time to order and help Her achieve her goal to make this reality. Yes I know these could be considered two competing products but if you do not have an Apple product your SOL anyway. So why not help out another small business entrepreneur kick start her project and get a devise that will fit your tablet or smart phone at the same time.
Besides if it wasn't for Kickstarter (and I hope Moshe agrees if He reads this) the Sound Bender never would be where it is today. A little friendly competition can only be a good thing.