Featured Shark Tank Post
Cuddle Tunes Teddy Bear on the Shark Tank Show
Personalized Story Telling Teddy Bear - Season 4 - Episode 413
The Cuddle Tune's Bear comes with a built-in MP3 Player and prerecorded songs using your child's name.
They will instantly become best of friends and help them get to sleep as they snuggle up with the Cuddle Tunes Bear. Furthermore, you can go to their website and record any book or positive message you'd like to read to your child and download it into the teddy bear. Your kids can listen to the story whenever they choose and even keep it as a "keepsake" for when they get older. Can you imagine listening to a bedtime story read by your Grandparent's to one of your parents? It may have not been possible back then, but it is today. The stories you record online using the Cuddle Tune's Bear technology could someday also be listened to by your Grand Kid's in the future. How cool is that? I would love just to hear my Grandma's voice again let alone hear her read a story to my Mom when she was a child.
Probably the best idea for the Cuddle Tune's Bear that would make the most impact on a child life is with our Military Families where one of the parents is stationed overseas. Michael Robinson also agrees, and in 2011, the Cuddle Tune partnered with Operation Home Front helping connect families in only a way the Cuddle Tunes Bear could. If you read this Michael, that was a good idea!
Cuddle Tunes Website
CuddleTunes on FaceBook
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Cuddle Tunes Update after the Shark Tank Show
Mike Robinson came into the Shark Tank asking $400k for a 20% stake in the teddy bear business valuing it at $2 million. Robinson says he's put about a million into developing the product over the last 3 years and half of this amount is for his time. The sharks ask the all important sales question, and he tries to change the subject, and the Sharks get turned off very quick. He attempts to explain that out of 33,000 visitors to his website, they sold over 9% of them a Cuddle Bear. That's an exceptional CPA in anyone's book.
The numbers sound very impressive until the Sharks discover how the traffic landed on the site. Robinson's been running Groupon and Living Social Coupon Ads offering the Cuddle Bears at a 50% discount which ultimately throws all the real numbers way out of whack. The Sharks start dropping out in rather quick fashion with only Kevin O'Leary left. He said, "You don't know your point of acquisition, you just don't" and also proceeds to go out. It was a clever way to inflate the CPA number's and justify a higher valuation for the business, but the Sharks didn't bite.
Taking advantage of going on the Shark Tank and completely trying to inflate your business numbers in hopes of getting a better deal with the Sharks is not good advice. That's all I have to say on this one.