These Pitches Will Get You Hyped For March Madness | Shark Tank US | Shark Tank Global

[Applause] next into the tank is an easier way to find a pickup game [Music] are you doing sharks my name is dante morris and i'm dominic morris we're twin brothers out of oakland california our company is called hoop maps we're seeking a hundred thousand dollars in exchange for five percent equity in our company now sharks how many guys like to stay active i like to stay active one of the things i like to do to stay active is play basketball pick up basketball but i always find it difficult to do what you mean you know you can text me man you know you'll never pick up your phone how about you hop in your car and drive to a different park i do but every time i drive to a different park i'm either just missing a good game i'm spending my time waiting an hour just hopping to another game it's a 21st century it has to be a better way well there is a better way it's called who maps who maps is a mobile app that allows users to find pickup games wherever you're at and it's very easy to use all you do is log into the app you create a username and password and voila you're in once you're in it's gonna send you to a map screen gonna have two icons blue icon represent game that hasn't start yet while the orange icon represents game that's already in progress and it's very easy to create a game as well just hit the add screen in the top right corner once you create the ad screen you just put it into place the time of the game the game duration you can even invite people to the game too so i can invite alex i can invite mark now just hit create and then you're right there in the game wait hold up you don't have me though my bad the beauty about who maps though is sends all users a push notification within a 25 mile radius so i'll see you guys playing so i'm gonna add myself in mark alex you guys want to come down get a quick game or two i'm gonna pick alex i'm a lifelong yankees fan so long sport i wish we had a bat all right i'll let you play bar let's go you're twins so which one's mine yeah i know i'm done i got destroyed here so i'm not saying so check it out we're playing okay let's do it let's do it let's go [Music] oh oh shot [Music] oh yeah baby can you tell who owns the basketball team yeah oh shot game all right whose house is it mark's house yeah yeah guys what are your sales how do you make money so our revenue model right now is having a premium subscription to our models we have 50 000 users so you have 50 000 using it now but nobody's a premium payer yet great when are you gonna flip that switch to premium and that's actually why we're here now uh we actually just really release our app you know just only in january now 50 000 users it sounds good right but you got to be in the same city otherwise it doesn't really work so where are most of your users at most of our users right now is in new york city but uh the way we launched is 75 of our users through through google search so people are typing in pickup basketball we lead this space so if you have 50 000 downloads or how many people are using it on a daily basis so we have 10 000 daily active users right not bad guys that's actually not bad at all who did the coding for this yes same question so actually yeah when we thought of this app we said one of us gonna have to know how to code so i took three months out of the year learned how to code and i built the basic framework of this app that is awesome man thank you that's badass we're the type of people that you know see something and then like we don't let any excuse get in our way can i ask you how you get into a 2 million evaluation we're the leader in this space uh we have 72 percent of our natural search come through people looking for our app online two million dollars is a modest valuation even though you have no revenue modest yeah i wouldn't call it mod i want to tell you something okay yeah that's like oakland b-ball players they ain't modest can i ask you is this your first business you've launched for the past 10 years been running a recreational baseball league out in sacramento so for us to do this pickup app it's right up our alley but what is your competitive advantage why do i want to invest in your business it's because we know this age demographic of 1825 we know how they play you know what time they play we know their habits we know their spinning habits but look i buy your story you got 10 000 active users the question mark that's hanging over your head is what's the conversion rate going to be to the premium service because right now you make no money well let's look at this charging for the premium service what's your intention there we gonna charge 8.99 per month or a hundred dollars per year what do i get for the premium so premium users for people that play basketball often a lot of people when they might want to find more games we'll provide a better experience for our users that use the app more frequently but better in what way meaning like you could see different games in the area you might find guys that's going to be tough right because when you need guys to play you're not gonna say all right you're a premium member come play yeah you want bodies you know you don't even care if they can play sometimes i've been pitched pickup location apps yeah a lot you know so there are other apps and there's websites where you can you can go look for games but a lot of apps that's out there on the market right now they try to go into different verticals with different sports they have because it didn't work just with basketball let's say a premium service doesn't work how are you going to make money with this thing through our brands through brands uh so we advertising through advertising yeah i think if you could connect a celebrity or some type of name to it that would really help you um i'm not a super sporty girl i have to be honest so i don't think i'm the right partner for you okay okay i hope someone else is okay i'm sorry i'm out what's missing in the presentation it's been bothering me since the beginning is you get as far as to have an actual community and a platform of 10 000 people actively using it very cool to get there but then no indication of monetization this is just maybe this works maybe this works that's what's missing i'm sorry guys i'm out the only thing you're really lacking to give your brand traction is publicity but it's very hard to invest in a business when you don't see a clear road to the finish line because i can't see a way to get my money back i'm out okay thank you you know dominique dante this is the problem at this point is just too small of a business i wish you guys the best but i'm out all right thank you look the bigger question is your revenue model right at some point you got to have sales the subscription approach is going to be tough trying to get eight bucks a month from somebody who just knows that once they find a game they're just going to go back to that same place 90 of the time it's gonna be tough and i don't just want to make an investment and then have to reinvent your business for you so for those reasons i'm out okay all right thank you guys before you leave next time you pitch an investor tell them how they're going to make money because they're too early for us and what i would suggest is go out and find the next steph curry the next kobe bryant lebron james go give that person 25 of your business you need sizzle very good advice thank you good luck guys thanks guys [Music] we're going to grind like we always do you know we're from oakland so we're just going to take that advice that we have from them and we're just going to make it work and this time next year you guys will see who maps in a way bigger light i'm cheering for them and i gotta tell you when i see diverse ceos and founders it really excites me because in silicon valley it's just a huge lack absolutely a huge lack of women as well yes absolutely shocking mark i want a little rematch but i get the ball first this time come on come on [Applause] first into the tank is an entrepreneur who's ready to take on a competitive market [Music] hello sharks i'm fran harris from dallas texas oh yeah and i'm seeking 350 000 in exchange for 20 of my company sharks the sports drink category is a 23 billion dollar opportunity the problem is that a lot of these companies who are purporting to have functional hydration are actually putting water in bottles that are full of nothing more than sugar artificial colors and ingredients and you guessed it salt sharks consumers are not going to settle for a sports drink that over-promises and under-delivers leaving you feeling tired and sluggish you know why you know why because there's a new sports drink in town and she's got games introducing elektra a better for you functional beverage hydration company that's going to change the sportstream game forever sharks i played on an undefeated division one women's basketball team at the university of texas i also played on the wnba's first championship team with the houston comets so safe to say i've consumed a lot of hydration and sports drinks and i can tell you without a doubt that everyday athletes hustlers endures what they're looking for and elektra delivers on every single one of those and yeah there's some competition out there but let me tell you sharks we are coming for that ass [Laughter] so there's really only one question remaining who's ready to electrify their hustle in the tyranny of these sugary sports drinks and help me raise this billion dollar baby great great are we going to try these yes you are going to try those so those are the three flavors there is litty lemonade there is passion punch and there is oh yeah orange passion punch is good is there a particular top seller so those are our launch flavors you haven't sold any good question kevin all right you showing how wonderful you are um no we haven't sold them we literally just launched about 10 days ago wow okay what do you use to sweeten it we are using monk fruit to sweeten it the question that we will get to either sooner or later is you mentioned a few competitors now they're not just ordinary competitors they are bone crushing monsters who own this category what is the plan for you to get distribution in the bone crushing business of sports beverages well kevin you heard my background i'm not afraid of competitors yeah i've uh competing she's not afraid of you kevin and um competition is a good thing the plan is to go direct to consumer online but i do a 12-pound box that's going to be expensive let me finish the plan is to go direct to consumer as well as to go to retail my background is uh i was a salesperson for procter and gamble so i'm very familiar have a lot of experience in the cpg market so i get the freight i get how expensive it's going to be but i also believe that you have to go direct to consumer because there are a lot of consumers online who are looking for hydration and we need to be there just like we need to be there in retail so why did you decide to go with a drink as opposed to a mix because when once you are hustling and you're active you want to walk into a convenience store or store and you want to grab something then right you don't want to grab a water and then grab your mix and then have to do all that but i think the convenience factor is a big thing and i get that it's just getting that space totally cooler right is hard and then trying to be direct to consumer sure is even harder because it's gotta be mixed direct to consumer that's a 24 pound case 12 that'll weigh 24 pounds i agree i think it's important to be both i think it's important to be on shelf and i think it's important to have a mix that people can order online the shipping is going to be less there's somebody who works out i always have to replenish potassium so the amount of potassium relative the amount of calories is really good thank you that's a positive my challenge is though with the mavs i already have two big deals with sports drink manufacturers okay so i can't touch anything at all but i just got to tell you the formulation is great the taste is great but unfortunately for those reasons i'm not are you working full-time on this now i am where are you manufacturing this so we manufacture it in a little place called kapel which is right outside of dallas are you going to be using a distributor yes we actually just i got an email today from one of the largest distributors who wants to see a sales sheet on it because i dropped some of it off last week and what is your first production run going to be the first production run will probably be between 20 or 30 000 and where are you getting that money from we have some of that meeting and hopefully the rest of it will come from this little audience right here so you can't take that product in until you get the money from us right that's right good job barbara fran how would you spend the 350 000 could you break that down for me production would probably be somewhere between 20 and 30 thousand dollars okay in terms of r d probably 25 000 or something like that 50 000 and the rest of the money what would you do with that so i would also hire someone for logistics sales and marketing so first of all i love you because i love your straight forwardness and your strength and your confidence i would be uber excited about you but the drinks themselves aren't really my cup of tea and so for those reasons i'm out you're out thank you lori you have very impressive background your pitch was flawless there's no data on sell through here friend you are running and you want to take my 350 thousand dollars whether this can work or not you don't have enough data to do that i don't want to i don't want to discourage you but i also don't want to see you crash and burn confidence is not enough i hear what you're saying first of all i win all i do is win so even though i'm new in this category i'm going to continue because i know that i'm going to be able to carve out a niche place for elektra and that we're going to win we are coming for that ass that's it all right any other category any other product anything else that kind of you know confidence would be very useful look i wish you the best i really do but i'm not taking this ride with you i'm sorry i'm out so okay turns out you're not so mr wonderful thank you thank you for that damon i don't want to agree with kevin but i've had a lot of challenges with this area and i i just wouldn't be able to help you with this uh because it's just so difficult so i'm out okay thank you dave barbra just me and you it's okay i don't mind it that's a lot yeah i wish i hadn't come in here and pitched a beverage business uh i rarely agree with kevin but i do it's the worst possible space the very first money i lost on shark tank was to a small company a guy with fire in his belly great conviction right formulation name chill soda i lost that money in a month boom so it's a terrible space so for you to stand here and be so fearless you're a hell of a salesman when i heard that pitch there wasn't a single word wasted but i'm not willing to risk 350. i'll tell you what i'll do i'll give you a hundred thousand dollars cash up front a 250 000 line of credit but because it's a high-risk deal i want 40 of the business [Music] now who's wearing the wings who's getting that ass now barbara four sharks are out barbara is fran's last chance for a deal for her sports drink company elektra but she wants a much bigger stake in the business than the 20 fran came in offering i'll give you a hundred thousand dollars cash up front a 250 000 line of credit but because it's a high risk deal i want 40 of the business who's getting that ass now barbara i really really really appreciate that offer and i can't tell you this until we decide whether we're going to work together but i have some things that are in place you want to tell me now i should tell you now you think so yeah i do have i do have a couple of hall of famers one is an nfl hall of famer one is an nba hall of famer who are ready to come to the table to bring their influence to move this project their cash both of them are cash both of them are cash but i told them yes both of them are cash so i told them for hiding that until everybody was out see i wanted to see who was with me barbara i wanted to see who was with me um and these are real offers that are on the table so i like your offer but not for 40 would you be willing to take 25 for the same deal and we have a deal i'll give you or i'll take 30 if you could bring those two big fish in with us and if not all bets are off so if i can't get both of them in you're out completely if you don't bring them in you don't get the hundred thousand you don't get the credit line you're gonna have to take a gamble yourself here but i think that's only fair because i'm taking a huge gamble myself so i'm not sure that i want both of them oh you're not sure that i want both of them okay i can get both of them i'm gonna trust you that if you could get the good one uh then yes i'll do that but if you don't get them you don't get anything you'll do what 30 percent barbara you're 30 you bring the big fish in and still the structure of my deal's the same 100 000 with 250 credit lines you drive a hard bargain barbara say yes it's a good time um yeah she has no choice what'd you say mark i just said you had no choice i always have a a choice when it comes to barbara i always have a choice i love the deal and i'll take your deal barbara you've got it i wish i could hug you but i can't but let's go i'll make up for it later all the husbands thank you very much well barbara makes an offer you have no choice you have to take that deal there's no question beverages are difficult but all i've done all my life is win and with barbara on board i know i'll keep winning whoa we are coming for that ass i think it's a good deal you know you only get to live once why live in hell so they can hang out with you kevin come on first into the tank is a product that proves the old adage practice makes perfect [Music] hey sharks my name is thomas fields and i'm the founder and ceo of grind today i'm seeking 250 000 in exchange for 5 stake in my company now millions of kids each year dream of playing in the nba mark i'm sure you were one of them i was but whenever you get to high school coaches usually expect you to shoot up to 500 shots every day but usually this takes about six hours at a time and good luck trying to find somebody to chase down your rebounds mr wonderful it's not gonna happen that's why we created the grind machine the world's first portable shooting machine that captures your maid and missed shots automatically passes the ball back out to you and collapses down into the size of a duffel bag within 90 seconds simply set up our shooting machine under any basketball goal and bam you're ready to lock in our shooting machine rotates 190 degrees manually pass into five positions on the court so you can train like a great athlete from anywhere along the arc unlike professional machines that are sold to the mavericks grind is made for the consumer being the lowest cost machine on the market today so sharks who's ready to help grind develop interactive game-changing products one sport at a time mark you want to try yeah love to now it's uh it's powered by pneumatics right so this is a completely new way of passing the ball out so if you can stand like right there that's about right [Music] oh oh he sucks ready sit [Music] what is up with that rim i hope the league doesn't see this wow he does suck [Music] [Laughter] thomas what does it retail for we retail right now for 14.95 495 1495 so thomas tell me a little bit about your backstory you wanted to be an nba player yeah absolutely so i grew up always wanting to be a nba player and ultimately get my family to a better means right growing up i saw my mom and my dad always you know working 5 a.m jobs night shift jobs so my goal was to get a d1 scholarship right and go to the nba just like all the other kids well i blew out my acl four times before i graduated in high school wow and wow i soon realized that that dream of getting to that next level was not gonna happen and throughout this whole process um i realized that i was knocking on the door at the gym at five o'clock in the morning trying to use the shooting machine that my school purchased that was six thousand dollars right and 400 pounds and i couldn't get in the gym it wasn't accessible to me at the time right i tried to buy one for our house and it was like five six grand so there was no way my family was purchasing one and at that point i realized that these companies are really overlooking the market so we came into the market for 14.95 and we're the first company that started payment plan solutions for for individuals how much money did you put into it to get it up off the ground fifteen thousand dollars and how did you earn that fifteen thousand thomas ymca shoveling mud everything that you can think of like i was putting it all all in thomas what are your sales uh we launched march first of 2020 so in five months we uh pre-sold 215 000 worth of units so that was on a kickstarter no so we actually launched pure e-commerce on our website so what were you doing to get people to know about your product you started completely word of mouth and as you know in in basketball it's a community where if somebody says something or there's a video out about it it goes pretty viral right right so all the kids on instagram who are shooting right they put this into an instagram video to show how they're working out all the kids that watch that think okay if they're using it then it's cool for me exactly i'm not clear have they actually been shipped and are being used or is this pre-order stuff this is pre-orders so everybody has paid us up front okay we're delivering how many units uh 125 units and not one has been delivered yet right this is our testing unit we've gotten here with 215 000 in sales through a pandemic with no working capital all with one unit why cost you to make a unit 977 oh wow wow right so we have roughly 35 margins we think that at scale we could bring that margin down and what about power if i take it to the the park yeah and just want to shoot yeah what about power so how long does the power last it does need to be plugged in but version two that's exactly okay so that's a challenge right yeah you know that makes it more for the backyard or the bucket you have in your driveway yep right and it really doesn't help you in terms of going to the park some some parks actually do have outdoors yeah yeah you'd be surprised how many do look i go out and i still shoot right because quarantine right that's how i clear my head sure didn't show and shooting those baskets yeah trust me that's your clutter your head i can shoot but you know there are other options that are low cost right so there's there's just the metal rack that just yeah you know if you're just shooting and it just rolls right back down that costs a lot less now every basketball player will tell you they hate that well yeah but i like fifteen hundred dollars more than i hate mark what do you guys have with the mavericks do you have something difficult so let me give the comparison right so if you're outside shooting by yourself it's gonna take about six hours to get up to 500 shots right in right versus our machine you can do that within an hour so thomas let me take a stab at this when i you know first saw the pitch and watch mark miss basket after basket i thought to myself you know this is a crazy idea without any merit but the more i heard the story and the fact that you actually sold over two hundred thousand dollars worth of them that is more impressive this isn't a product for me though i mean but we do have a token mba owner we keep on the side here in shark tank but i applaud you this is a cool product means a lot to come from when i'm out um listen thomas i think it's a great idea um i think it's very useful i'm just not a sporty girl you know so as an investment it's not the right one for me so for that reason i'm out thank you thomas i i i gotta tell you i love your story and it's so inspiring it reminds me of when i grew up a kid from the boys and girls club i think it's fantastic i love the name grind i love your grit um for me i'm having a problem with those margins and the price for those reasons i'm out thank you look the challenges right now won the valuation okay right yeah two your margins and how many you can actually make and how many you can actually sell yeah i love that you know just grinding all your life that's who you are and i respect that what you've been able to accomplish is awesome um i'm just yeah let's negotiate mark let's let's let's figure this out because i think this can easily go to a five to ten million dollar company i'm not sure that's the question i'm not sure of that right i am i know what the entrepreneur doesn't think right yeah absolutely it's kind of scary to sit next to him and he's not sure and he's not buying and i'm warning him no no let me just tell you the minute you walk out that door with or without a deal i'm going to buy one from my backyard he's not here [Music] three sharks are out and mark is undecided about thomas's basketball shooting aid grind look the minute you walk out that door with or without a deal i'm going to buy one from my backyard he's not here for what are you doing here are you going to make an offer because i would like to address it such a good item mark thomas i think your price point is too high i think your product is too ugly all right if my neighbor put that in their driveway i'd kill them that's the truth so i don't know what you could do to make it look better but i think it's got to look better we're going we're going for a very mechanical well yes it looks mechanical but i'll tell you um i think you're a phenomenal entrepreneur you got the whole package i would like to make you an offer but i don't want to go in without one of these sports guys okay one because i want to use their money and two because they know what they do in the sports field and i don't so i'm anxious to see if what do you have in mind barbara so i'm thinking i would offer 250 for 20 percent that's not enough you don't think that's good yeah it's not hold on i agree with my partner here mark he's going to ask you for more what do you think of mark so if there's two of us thirty percent okay i'll go with you i like your deal the two of us because let me just tell you and i know you think it's a lot you know but it's not period of story right because barbara's skill set is her people skills and her ability with the marketing and packaging are better than mine i'm going to make it pretty yeah she'll make it pretty so 250k for 30 percent [Music] i have a i have a cap on myself right so it's up to you because it's non-negotiable non-negotiable thomas before you decide you have one of the greatest owners of the nba i mean this is a dream offer let's do let's do 25 for 300. i think the valuation is is great for you guys right i'm going to take it to a 10 million dollar company easily in two years right you think i'll work my tail off right let's get it give him a sweeter deal because i have to be a shark 250k for the 25 percent you got to get let's get some 250 breathing room i just did right i just did 250k for 25 be careful now if you're if you're worrying about 50k then you're not valuing us thomas what are you gonna do if you have to think about it thomas yeah let's do it of course all right whoa i thought you're gonna walk away yay love it good job all right thanks guys well done congrats man i'm excited about having mark and barbara i think we're going to change the world if you have a dream and you see me up here making deals like you can go do it no matter where you're from you

Channel: Shark Tank Global

Views: 1,190,379

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, hoopmaps shark tank, grind shark tank, electra shark tank, march madness, march madness 2022, basketball

Id: hSQL49siOGo

Length: 30min 2sec (1802 seconds)

Published: Sun Apr 03 2022