Steve Could HACK “Every Last Privacy Detail" From Mom's Software In Two Minutes | Shark Tank AUS

coming up so how much money do you put into this in excess of 200 K an entrepreneur hopes her sacrifices are not in value 200,000 yep I sold the house but will the Sharks find a reason to invest Marie you've got a bigger problem here mate this literally sent a shiver down my spine next into the tank is Marie who's gone way out on a limb to finance her entrepreneurial dream there's a lot at stake for me I've sold my house of wound up a business but I had to make the decision to back myself I getting a deal means that we can accelerate this in katha pollitt to the next level and that's a game changer [Music] hi I'm ray matron and I have a vision for us our more connected and slightly less stressful world the opportunity I have for you today is to get in on the ground floor with track tag what that looks like is a $200,000 investment for 10% equity in the company track tag is for the adventurer the photographer and the traveler and the gear they love the clever tough tags and the unique scannable codes can make the difference between an awesome experience and an awful one it's direct its global it's rewarding and it's personalized the last 18 months I've been trialing and testing track tag and what I need right now is an injection of working capital and that working capital be directed towards marketing and development of an app so Marie that that was $200,000 for 10% so you're valuing your business at two million dollars correct Andrew 31 know how it works yeah imagine you're on the man and ferry today maybe you're feeling a bit of something I've been uncomfortable around your seat so if you'd like to explore your seats you might find something ah they found some key oh what a surprise someone's left some keys I'd love to scan it for you and show you how it works sure so you've got this very cool little tag on it right I have a camera up here so it's as simple as scanning the tag down my item and if you go into the contract me you'll get my contract details okay so your mobile number is on that I can choose what information I want on there I can provide a first name a surname an email address or a phone number so we do limit the information that can be put on there but is direct and that's the value of it good a memory yeah I just grab a tag that's been registered please yes you brought out my phone here thank you very much as a person finds it do they have to have that app downloaded no that's any QR code scanner they're generic so you do have to have a QR scanner on your phone - I don't have one or you go straight to the website which is also on there pop the out the number that's written on there and you get exactly the same place so I think that's over complicating it why not on your keyring just help you find a bra at the moment you're doing I've got to go down I've got to download an app cause I've got one of the codes yeah we'll put it in now I'm doing three steps people in this world don't do three steps they do one button so tomorrow I just use the QR code scanner honestly and it took me 90 seconds to scan that QR code one of the reasons I hate QR codes is they're very hard to scan this is speaking to Janine's point it's over complicated yep the thing about mobile technologies is you've got to capture the users attention within less than 10 seconds yeah how's it gonna go who cares about lost key yeah together yep so at this point you are pre-revenue aren't you you don't have any paying customers y'all know yet yes we do oh okay so we have over 300 members and that's just come incremental e and organically from our our trials okay so how much of people paying its per month is it 295 Charles ninety-five a month or $30 a year and you've got 300 paying customers correct well that's a start yep it's more than I thought when I subscribed 30 bucks a year how many takes is that give me up to fifty fifty and tell me how much money do you make out of that subscription about twenty dollars so you need a hundred thousand customers just to get to your 2 million value yep so how much money have you put into this in excess of 200 K two hundred thousand yep well what did you spend that on IT guys IP prototyping development the website all that back end okay so are they aren't sourced yep so you've given them a brief correct and then they've been developing the platform for each and most of your money has gone on paying this outsource supplies some of that yes where did you get the money from I sold my house you sold your house [Music] yep did you keep your day job no sir you what so you're working on this 100% your time that's correct Wow so how you surviving cuz there's no income coming in yeah so that was pava sale the house was to back myself yeah what does your family think yeah I mean this is pretty tough situations look I've got two sons and and they're very supportive right do they live with mum they do right on Marie Marie you've got a bigger problem here mate I went from the web mm-hmm and after I actually entered a number that successfully registered yes I got to see someone's name email address and phone number who did you get I got brakes I've got a program in two minutes flat they would tear every last privacy detail that of your system you have an amazing problem here Marie Marie is pitching first solution to lost property a scannable sticker called track tag so it's as simple as standing the tag she's banked everything on her business how much money do you put into this I in excess of 200 K two hundred thousand yep I sold my house but Steve has big concerns about users privacy Marie you've got a bigger problem here mate why got to see someone's name email address and phone number who did you get I've got memories mark I've got a program in two minutes flat they would tear every last privacy detail that of your system you have an amazing problem memory hackers [Music] this literally sent a shiver down my spine I want to be really brutally honest with you here oh this is really simple and it's a full implementation of it at the same time I'm out okay thank you all right if the plan doesn't work yes change the plan not the goal okay for me it's over complicated yep I'm out okay thank you we've been trying to get pets back to owners for the whole time I've ever been in business and my concern is you haven't come up with a unique solution mm-hmm thank you it's not as if this is an aquatic space but it doesn't mean that you don't have an application yep it just means there's lots of competition I'm always looking for a better mousetrap yep but I need that mousetrap to really catch mice I'm out fair enough Thank You Murray oh look I feel for you your tag says I lost it you found it just scan it if I feel that you know I hope your 200,000 isn't lost yep but I do feel this business plan has lost its way fair enough I'm sorry I'm out lovely thank you all the best Murray thanks Murray thank you oh dear if you ever need 200,000 reasons as to why need tech in a business that is it I respect the the comment shared and the ID and the opportunity to put in front of the sharks and I will take that on board and move forward with the project Stevie you telling me there's no way she's gonna get her $200,000 back with what we saw today not a no not a snowball's chance in hell I'm an investor I get a lot of pictures so what you see on Shark Tank is what I do for a day job the more features I see the more you've got to make it stand out but what I really care about is you the person your background your business ethics your skills the problem the idea I actually care about last [Music] [Music] you [Music]

Channel: Shark Tank Australia

Views: 1,465,073

Keywords: best shark tank ideas, business, deal, entrepreneurs, most successful shark tank pitches, proof eyewear, rejected shark tank pitches that became successful, rejected shark tank, shark tank episode, shark tank pitches, shark tank show, shark tank success, shark tank, worst shark tank pitches, most successful shark tank businesses, best shark tank pitches, full episode, shark tank full episode, GTA Mods, gta mods xbox one, gta mods ps4, Maree Machin, Tractag', shark tank 2020

Id: 269t4VGyulY

Length: 9min 32sec (572 seconds)

Published: Wed Mar 04 2020