Shark Tank US | Will MuteMe Get An Offer From Peter Jones?

next up is a product inspired by our new work from home normal [Music] hi sharks my name is Parm like parmesan I know it's cheesy I'm from Sacramento California and the CEO of mute me and I'm ty like the tie that you wear and I'm also from Sacramento California and the CFO we're here today asking for 200 000 in exchange for 10 of our company mute me and joining us virtually today are our two other co-founders and wives and even Brittany hi sharks I'm so excited to be here today my name is Han deep and I'm the chief operating officer at Mutiny I'm Brittany and I'm the chief marketing officer at Mutiny we wish they could be here with us today yeah right they're so lucky we let them on the tank we're the real talent we should have been on there tell me about it you know what took Thai a month to memorize his five lines I had them down in a day we would have been Flawless we would have been we can hear you there's got to be a better way well now there is sharks this is mute me the world's first illuminated mute button you press mute me when you need to be muted the lights change color so it's never disputed tap it again when it's your turn to speak the light stops you from letting the wrong words leak it's a perfect tool when you're multitasking or when you have a co-worker like Mr Wonderful who keeps on ranting it helps others around you know if you're busy no more wondering hey he's not on a call is he stainless steel is super neat custom engraving it can't be beat it's the hottest product of the year no more conference call slip UPS or fears whether you're working or learning our button makes things easy don't worry we know this rhyme's pretty cheesy sharks we hope you found our pitch just a little bit funny but mute yourselves it's time to make some money so run through really quick all the scenarios just give me like four or five where you think someone would use this so 2020 one of the top lines that was used was you're on mute now at times have you heard a dog bark doorbell ring different scenarios well someone's talking and they don't realize they're on mute everyone's trying to get their attention and they just don't have that indication that they are why not just do a browser extension though and just make it really really big on the screen where everybody's looking because it takes up the screen real estate you don't want to take up additional space on your screen there's like eight different conferencing platforms right when you're interfacing with all those different conferencing platforms it's not easy so our button you plug it in you press the button it mutes and unmutes how much you selling them for we're selling them for 39 retail and what do they cost to make it's 11.62 cents right now how did you come up with this and tell us about your background we actually have a mutual friend that came up with the idea I worked on a remote working project with him two years ago and Tai is a technical marketing manager at the largest all remote company in the world so we decided to go down the path of developing something ourselves we prototyped it in about a month launched a Kickstarter and it just takes off and so we ended up yeah so we did so we did 145 000 on Kickstarter dollars or units dollars and Indiegogo was 135 000 so we did did 280 000 in crowdfunding what about real sales what's happened we've done uh 61 000 61 000 how just how did you sell them on our website you'll want to know also we are in every Staples in the United States you are the last four weeks but what if they sold in these last four weeks so we've sold just over 150 units that's it where are they putting it in the store very front if you walk into a Staples right now there's a table there what have they said about the feedback because 150 units is low they haven't promoted Us in any marketing yet and that's to come the next couple weeks they're promoting you because they're basically got walk-in trade and it's the first thing you see you portfolio overall everywhere is not where it should be as of right now hold on hold on I think Peter's asking a great question I mean to back that up though is did they tell you the test on how many doors they're putting you in 1067 stores every store in the United States we've gone to a lot of stores and and the one thing that we're trying to get them to do most often is you see the value in the illumination yeah that's something that the stores run a battery pack and the battery pack dies you've got to come up with a way to sell it do some fun with it on Tick Tock you have got to be great content creators you're a product and you haven't figured out how to sell it I mean you're not even close that's what I think you need to be successful so for those Reasons I'm out I'm sorry to hear that Mark I think this goes to zero in retail in about 90 days there'll be a discount banned for nine bucks that's not a problem this should be completely done online part of the strategy is actually a business to business strategy because the top is stainless steel it can be laser engraved with any logo so we've had a lot of customers we're selling for a second because I want a minute just to drop out I'm gone I'm out I'm history thank you sorry to hear that what you've done here is you've created a great product that's come out of the pandemic I've got a company in Asia it's like the third or fourth largest Gadget Company online we sell tens of Millions worth of gadgets and I'm thinking could I sell this I think I could but sadly it's going to be a race to the bottom on price that's where I think it's at you have other competitors in this market so we're first to Market there are some competitors out there that are trying to they saw our Kickstarter and decided to ramp up at all on it we do we have a provisional patent so we're the only mute button that isn't a microphone yeah so we're the only mute button that's not a microphone and is illuminated we have factors and shins in I can make this for you now we love the work we would love to work yeah you've got no proprietary circuit board in here this is probably volume less than 70 or 80 cents in time yeah we we are currently manufacturing it at 11 ouch we would love to work with any one of you I'll give you an offer but the problem is I have to redo your business every one of the Sharks said something that's critical you know you got to make these things for a dollar fifty and at the end of the day this gotta be 19.99 maybe 14.99 I mean certain companies are you know targeting like 9.99 so anyway unfortunately I have to give you a very short fuel for a 200 000 for uh 50 50. that's not an unreasonable offer for what you guys got here the evaluation is crazy it is crazy but I have to put so much work and I'm probably gonna have to give percentages to a bunch of people why don't you see if he get it off from somebody else if you don't that's the only offer you got well if you don't get it for somebody else then it's going to go up who's still in are we the three of us no I hate this tell us what you really think listen guys I see the benefit of it I'm so on the fence about it and whenever I feel that way I have to go with my gut and I'm so sorry but I'm up guys so ah I'm really torn torn towards us no I'm really torn if I do this and I'd go back and my guys say what the are you doing because you're just investing in a button that goes red and green tomorrow and I and I just I feel really quite worried about it you know what guys I'm out the thing is there's a lot of simple things out there that sell well just because it's simple so guys necessarily means seriously guys I'm really sorry but I'm gonna have to say I'm out foreign that's a tough one yeah they messed up um I think they look at something and they think it's simple they don't necessarily you know think that this is gonna grow but I know it's going to grow it's going to be something that's going to end up on a lot of students desks they're going to be sorry in a couple years and that's okay that's going to be the ring doorbell all over again the ring doorbell all over again the only good thing about this is if it actually worked for real on people that's

Channel: Sony Pictures Television

Views: 1,089,951

Keywords: Sony, Sony Pictures Television, Shark Tank, Shark Tank US, Shark Tank USA, Shark Tank America, American Shark Tank, Shark Tank Pitches, Shark Tank bad pitches, Shark Tank Best Pitches, Shark Tank Covid, Shark Tank Season 12, mark shark tank, kevin shark tank, lori shark tank, daymond shark tank, mr wonderful, shark tank moments, shark tank deals, shark tank pitch, shark tank best pitch, kevin oleary, mark cuban, lori greiner, Barbara Corcoran

Id: kFLmvuF2eNU

Length: 8min 9sec (489 seconds)

Published: Mon Oct 24 2022