Mark Cuban And Chris Sacca Fight Over A Deal With Brightwheel | Shark Tank US | Shark Tank Global

my name is dave vassen i live in san francisco california with my wife samoyna and my daughter serena i'm a first generation american my parents came to the us from south america with almost nothing they taught me the importance of a strong work ethic and the value of an education how are we looking to get this out today after school i started working in education technology building software platforms for big companies like amazon and cisco but when my daughter serena was born everything changed i can't run i would leave for work every day i just found it so hard to not be a part of her day and how she was learning and growing i knew with my background and passion for education i could actually do something about it i developed a unique product that's focused specifically on early education it connects preschool and daycare teachers the parents and their children in a way that's never been done before 85 of brain development happens in the first three years of life and every study shows that the investment that you make has a massive impact not only on the individual but on the greater community these are our kids this is our future and this is something that we have to invest in [Music] hi sharks my name is dave vassen i'm the founder and ceo of brightwheel and i'm here seeking a 400 000 investment for four percent equity stake in my company brightwell is the mobile app for preschools daycares and families and we are completely revolutionizing early education now i believe all of us are parents here and i want to ask when you come home after a long day and you ask your kids what did you learn in school today does it sound familiar this is the experience for millions of parents across america every single day and especially for younger kids you've been apart from your little human being for six eight ten hours a day and that is all you get you know you want to be a part of their day you want to add to the learning once you come home and you can't it's gut wrenching and on the other side on the school side is no better in addition to actually educating our kids teachers are managing a ton of paperwork let's face it they're actually managing parents and on top of that they're even running a business the system is broken and brightwheel is the solution so let's jump in and take a look at how bright glow works so with brightwell teachers can easily check kids in from the mobile app they can log activities and assessments during the day they can send quick updates and they can even manage their business all in one place and we're just seeing an amazing amount of photos every single day on brightwheel and this is the reason you take it you tag it and you are absolutely done and now we're gonna look at the teacher app so this is the teacher's room and we're gonna click on activities at the bottom here and this is all being done on paper today and so we've taken it and combined it and made it super fast and super easy so we're gonna click on nap here and then we're gonna tag three kids that just went down for a nap and the key about brightwheel is that we're saving teachers time you actually have measurably more time with kids every single day and now we're going to flip over real quick to the parent experience so let's jump to the mobile app this is actually my little girl serena and this is her day and as you can see i get a sense of not only what she's doing but what she's learning and so when i come home i can actually have a conversation with her about it my connection with my little girl is so much deeper because of right wheel and by the way in the middle of a pretty tough day it doesn't hurt to get a photo like this sharks this is unique opportunity to build a massive business that has a massive impact on people's everyday lives and that's something that we hear every day so i hope you're joining serena and our team in bringing brightmill to every preschool every day care and every family across the globe are you selling me this platform this dashboard is that what's happening yes how much am i paying for right now you're paying nothing right wheels right wheels free today uh when we have our premium product you will be paying a monthly fee for that the parent will pay or i'll pay you will pay as the administrator or the owner and will the parent ever pay anything not today we're building a platform we see a lot of opportunity to add value to parents down the road except you can't advertise on that platform correct and we have no intention to advertise wait you can advertise to the parents all you want we don't want to we think there's a ton of ways that you can very hard time with that model no way no and we haven't we have no intention to so let me walk you through what brightwell's looked like so we started with a pilot in fall 2014. how many schools did you get yeah so we got 10 schools in the pilot with literally no product and so we worked with them we listened to them we understood their needs in june of this year we launched publicly as bright but we went from 10 and then now we have 2 500 schools in every state across the country wow so how are you going to monetize first i just want to say that when you look at other industries all of these industries have really great dedicated software that's provided by very large companies this is a massive market that doesn't have that and so that's what we see ourselves fitting in a lot of that has to do with the fact that they don't have money because they're very much small proprietors but they but they do have budget well they're just mismanaged i've got a four-year-old a two-year-old and a two week old and i pull my hair out sometimes looking at how the preschools are managed as a business right i offered to write software for my kids preschool and that's why they love it because we take all that off their hands so they have more time with kids you're doing so many things at once that makes it a little harder to pitch this yeah that may be where the opportunity lies too right you're doing something for schools something for parents something for teachers as well right we're in everything from four person in-home daycares uh even a lot of people are actually using us with nannies so a single person all the way up to elite chain of preschools so we're gonna offer at the low price point around forty dollars per month for a really small in-home daycare and that scales up to two hundred dollars and some of the instances of the top price is 200 that could be 50 kids right there's some very large centers including ones that we're in we're in centers with several hundred children so that's still 200 bucks yes have you raised any money from investors so based on the pilot we raised a seed round of 2.2 million and 8.2 million valuation besides money what do you want the shark to contribute to this uh to your venture we're taking on big challenges now we're looking to scale we're looking to build a global brand i'm not just here for money i'm not just here for pr i'm here for the partnership possibilities of bringing on sharks onto our team and the value that that adds we want to be the brand of early education the problem is the law of small numbers i mean i actually understand what you're doing and have been in your space i made a lot of money in it actually and i think it's brilliant i guess you've done something really interesting here i don't know what your plans are in the monetization so it's 1 million next year 6 million a year after that and 20 after that i believe it okay look i'll make you an offer i'll give you 400 000 but i want 10 i just bring too much kevin i appreciate that offer i really do and the fact that you want to be a part of this one more than the number of the experts said how how can like i understand it's like oh and look even even your background you sold an education company that is valuable what is challenging for me is our investors had my back as i trust you aren't that bad right how do i get you coming in i think you're gonna have that same frustration i mean you knew you'd have to negotiate right yeah yeah oh and i i i want to find something that works but i don't know if i can have value listen you have you have mark you have chris really savvy in that space you have kevin who understands child education uh i don't think i can help you i'm out i appreciate your time really do how many schools are gonna add this month so we're adding on average we had a 30 yesterday we're averaging about 40 to 50 a day so all right look i i really like this business i warn you not to promise like we're never gonna advertise et cetera because i do think you could add a lot of value with offers coupons people in this demographic actually want good products to be put in front of them and so i think that could be one fun channel i want to make you an offer but i have a hard time paying more than anybody else paid for the business particularly considering what i bring with my background the value i think i bring your platform so i'd like to give you the 400k you're seeking but at the 8.2 million dollar valuation of the last round we'll give you the 400k and we're off to the races can i ask you know first of all that is an amazing offer do you have any desire to team up with other sharks so if i'm looking at the other sharks and i'm going to let them into my deal i have to be convinced that the piece of the deal i have left is going to be worth more as a result as a result of that yeah and with your company i'm not convinced of that if we're if we're selling t-shirts or we only need something in bed bath and beyond i got people lined up translate says you guys are losers i don't want to get in the middle of anything you tell me what do you think you need from the rest of the line here are you serious are you really that clueless no i'm just i'm seriously are you really that clueless one shark is out dave has two offers on the table for his early education software platform brightwheel however things have become heated in the tank after dave suggested sharks go in on an offer together you tell me what do you think you need from the rest of the line here are you serious are you really that clueless no i'm just i'm seriously are you really that clueless i haven't heard you speak up mark i'm listening right chris i'm taking the offer i just want to know if we're going to team up with anyone are you you're taking the offer so you're not even listening to anything i want in with chris chris is going to add a ton of value i don't know if anyone else wants to join the ending questions yes what else do you need from somebody else and is anybody here nominating themselves is bringing someone to the table let me just have a nerd first of all i don't need to nominate myself i'm listening right so i don't need to convince chris of anything i have no problem with chris and the value he brings the other companies he has right when he assigns his name to it it holds a lot of street cred in his little part of the world once you get outside of that little bubble called silicon valley it doesn't mean as far as i know if you want if you want to create a brand value so that somebody who's working in texas pittsburgh maine florida and wants to have an extra level of confidence to say you know what this was validated by somebody that we trust something we know has a track record your job gets easier but that doesn't seem like a problem hang on while the two ends of the tank are squabbling like chickens i just want to point something out the only shark that's ever had a multi-billion dollar exit in your space is mr wonderful right this is my space right i know exactly how to help you and i think frankly i bring a lot to the table on that i'm not gonna fight with chris about whether he should be alone or not to get involved now i have to compete with his deal so i'm willing to match him because i have no choice i like the deal i really do the percentage isn't the issue because the shuffling deck chairs on the titanic either you're going to make it or you're not right right and so whether it's at 8.2 or 10 million that's not the issue are you considering making it over yeah i like it so i mean he's done most of the work it's going to be those other schools on the margin or being able to get to groups or being able to create confidence because the application does the job it does and it works great right so what creates the confidence that makes someone to say yes to a decision when maybe they don't understand it completely maybe they're not in the wheelhouse of how you're getting deals currently that's the biggest hurdle we're trying to cross dave when you're asking these guys in are you willing to give up more equity for more money and that's what i'm trying to figure out so they can even know how to position themselves i would consider we came in here with with a concrete ask in terms of a budget if it means getting more sharks and and having more people at the table then i would consider it i'll do it either way i think partnering with chris is smart and obviously you see the value there and i don't mind doing that you may not think there's value i'll leave that to him or i'll leave it to you and say i'll hit your number 400k at the price that you have at four percent at the at the 10 million yeah because i have enough confidence that i add enough value that it will probably so you're willing to do the deal at 400 pounds but i do regardless of what he said about me right i see the value there because um silicon valley is its own little world yeah yeah like uber operates in its own little world and twitter operates in its own little world and instagram operates its own little world i've never been outside of san francisco i'm sorry so let me let me ask then chris you know mark mark just just asked if you'd be open to teaming up for your deal is that something you'd be open to what if we do so at the valuation that mark talked about 300 from mark and 300 from chris we get it done and we build this thing together we're paying more than the last guys paid i think 25 more at that time we didn't have uh we don't do it to yourself we know the products we didn't have the brand we didn't have this team in place you didn't have shark tank either don't do it to yourself i'll do 300 and 300 at nine at a nine million dollar evaluation [Music] park would you do that yeah yeah let's do it all right perfect hug it out guys [Music] thanks guys you

Channel: Shark Tank Global

Views: 876,470

Keywords: Shark Tank, Shark Tank US, Shark Tank Australia, Kevin O’Leary, Barbara Corcoran, Daymond John, Robert Herjavec, Mark Cuban, Lori Greiner, Dragons’ Den, Money Tigers, Entrepreneurship, investment, reality tv, brightwheel, brightwheel shark tank, brightwheel shark tank full episode, brightwheel teacher training, brightwheel app, brightwheel pitch, mark cuban fight shark tank, chris sacca, chris sacca shark tank, chris sacca and mark cuban shark fight, shark tank fight

Id: opUaZxDk4Tg

Length: 13min 18sec (798 seconds)

Published: Fri Apr 08 2022