Cuddle Tunes Teddy Bear on the Shark Tank Show
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 would like to read to your child and download it right to the teddy bear. Your kid's can listen to the story when ever they choose and even keep it as a "keep sake" for when they get older. Can you imagine listening to a bed time story read by your Grandparent's to one of your parents? It may of 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 parent's is stationed oversees. Michael Robinson also agrees, and in 2011, the Cuddle Tune's partnered with Operation Home Front to help connect families in only a way that the Cuddle Tunes Bear could. If you read this Michael, that was a GREAT IDEA!
Cuddle Tunes Website
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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 has put about a million into developing the product over the last 3 years in which half of this is for his time. The sharks ask the all important sales question and he tries to change the subject which the Sharks get turned off by Real Quick. He tries to explain that out of 33,000 visitors to his website, they sold over 9% of them a Cuddle Bear.
These numbers sound very impressive until they discover how that traffic landed there. Robinson has been running Groupon and Living Social Coupon Ads offering the Bears at a 50% discount which completely puts all the numbers way out of whack. The Sharks start dropping out in rather quick fashion with only Kevin O'Leary left. He point blankly says "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 number's and justify a higher valuation for the business but the Sharks were not buying it.
Taking advantage of going on the Shark Tank and completely trying to inflate your business in hopes of getting a better deal with the Sharks, is not very good advise. That's all I have to say on this one.