Cyclormic Photo App Shark Tank Update
|Cycloramic Photo App Huge Success after the|
Shark Tank Show
Wow, this vibrating panoramic app has to be one of the most exciting set of negotiations I have ever seen on the Shark Tank Show. Bruno Francois managed to get all 5 Sharks instantly interested in this vibrating app taking 360 degree panoramic videos and pictures hands-free. Bruno estimated he would sell at least a million Cyclormic Video App's at 99 cents each in the first year alone, whether he got on the Shark Tank Show or not. He confidently asked for a $90,000.00 investment in exchange for only 5% stake in this patented vibrating photo App putting the initial valuation at $1.8 million.
Lori Greiner is the first Shark to try to sink her teeth into this deal by paying the Cyclormic Photo App the highest compliment she could by saying " I think the Cyclormic App is a megawatt Hero". She wastes little time making the first offer of $200,000.00 for a 10% equity stake bringing the valuation up to an even $2 million. Francois is flattered with the higher valuation but wants to hear other offers from the Sharks. Lori pulls the "give me an answer or else" card which didn't make any sense considering none of the other Sharks have yet to speak.
Mark Cuban who already has an enormous amount of success in the technology field, mentions he's already an investor in a company called Condition One that specializes in panoramic, and Motion Loft used in Commercial Real Estate that tracks people walking by. Mark loves this App and the patent for effectively using the built-in vibrator but questions if Bruno has other uses to capitalize on this technology. Francois does indeed an wants to expand this technology into mobile gaming. Again, Mark Cuban responds he already has another company he's invested in called Mention Mobile.
Daymond John has heard enough when he abruptly cuts off Mark Cuban so he could make an offer. Daymond says "I will offer you $250k for 10%" adding an additional $500k valuation to Cycloramic. Bruno almost looks a little confused wondering why the King of Fashion is interested in this App. If I didn't know any better I'd swear he didn't think he would even get an offer from Daymond, much less one that instantly increased the valuation by a whopping 20%.
It was now Kevin O'Leary's turn to convince Bruno that he would be the perfect partner for this innovative patented vibrating app. Considering how much experience Kevin has in the technology field you'd think he would make a legitimate offer or try to partner with Mark Cuban. But no, O'Leary decides to make one of his royalty deals where he takes no equity, but instead bleeds cash off the top securing his investment. Kevin offers Francois the $90k he was originally asking for, but wants a 15% royalty on every Cyclormic App sold. Really Kevin?
Before Bruno could even respond to the worst offer now on the table, our newest Shark Steve Tisch decides he also would like to invest in the Cyclormic Panoramic App, but wants Lori Greiner to go in with him for a combined $250k for a 10% stake in the company. Daymond John is quick to clarify that's the same offer he just made. Tisch clarifies it is, but this deal Bruno would be getting two Sharks instead of one.
Mark Cuban, who never even had the chance to get his offer out, simply says "are you done playing games with these guys Bruno"? Mark goes on to say "I'm going to offer you $1 million dollars for 30%" which again quickly adds another $800,000.00 to the overall valuation of the business. LOL, all the other Sharks realize Mark is very serious about investing into Cyclormic as their heads all seem to be looking at the ground in utter defeat. Kevin tries to justify once again how his no equity deal is still the best, while Daymond John raises his bid up to $300k for 10% equity. Steve and Lori make a new offer for $250,000.00 and 10% of the business, but drops down to 5% when they recoup their initial investment. Daymond comes back with $350k for 12% stake as tensions start rising trying to get this deal closed.
After offers come flying at Bruno from all 5 Sharks interested in his App, he asks Cuban if he would be interested in partnering with Greiner on this deal. Mark knowing he really doesn't need Lori for this deal, realises he may need her after all to get this deal closed before the other Sharks up their offers. Steve Tisch basically gets dumped by Lori in favor of partnering with Mark instead. Steve then wants to join Daymond and Kevin and get this Cycloramic App deal closed a.s.a.p.
It was then clear Bruno came into the Shark Tank specifically looking to make a deal with Mark and Lori when he turned down the million dollar offer in favor for $500k and less equity. Mark agrees with 16.5% equity for a half million when Lori jumps up as it's a done deal. Lori, Lori, Lori, LOL, She sure gets excited sometimes. The other Sharks tell her to sit down so Mark can finally close the deal. Francois says he would be happy to accept the $500k for only 15% equity which Mark and Lori quickly agree to.
Cycloramic App Update after Shark Tank Appearance
It appears millions of Shark Tan Fans were just as impressed as the Sharks when it came to taking hands free panoramic videos with their smartphone. Within just the first hour after Bruno was on the Shark Tank, over 100,000 people downloaded the Cycloramic App at $1.99 each bringing in over $200,000.00. Wow, just about every contestant gets flooded with new orders as the Shark Tank Effect takes hold, but $200,000.00 in just the first hour? As far as I'm aware, this is a brand new Shark Tank Record that may not soon be beat for some time. It became such a huge success that the Cycloramic App and the Pro version both made it to the very top in the App Store ranking #1 and #2.
According to a recent interview Francois did with 9 to 5 Mac, this vibrating app now has over 8 million downloads making this easily one of the most successful products ever seen on the Shark Tank Show in record time.
Congratulations Bruno on standing your ground and making a fantastic deal on the Greatest Business Reality TV Show in History!
Visit the Cycloramic Website