Follow us on Google News
Get the latest updates directly in your Google News feed
Shark Tankis a perfect place for startups and young entrepreneurs to showcase their skills and products. While some of them create a great impression on the judges, others fail to capture their intrigue. One such product was Amber, designed with an intention to make charging phones in public places easier. The product had the capacity to fetch a good investment, but the pitch made by co-founders Bill Shuey and Kyle Byrd failed to convince the “Sharks.”
So, much so that more than the investment it became a laughing point for the judges. Even Mark Cuban who’s known to invest in risky projects bowed out after Kevin O’Leary, Lori Greiner and Daymond John called it one of the worst pitches inShark Tankhistory.
Why Amber Became a Laughing Stock on Shark Tank?
In the history ofShark Tank, viewers as well as the judges have seen very odd inventions making their way on the platform. While some managed to get a big investment out of the venture capitalists, others simply failed to convince them. But for Amber, not only did they fail to secure an investment, but they were also laughed at when they presented their product in the sixth season ofShark Tank.
Created by Bill Shuey and Kyle Byrd, Amber was a secure public phone charging station. This definitely seemed like a straightforward solution to a common issue that many face. But it quickly turned into one of the show’s biggest and most unforgettable flops.
The device was about the size of a small toaster and could charge up to seven devices simultaneously. It also had a secure glass panel, accessible only by thumbprint.
Amber was created with the sole intention to make public charging safer and more convenient. On the charging part, the duo detailed that they plan to charge owners $150 per month or offer a one-time buy of $2,000. Further, for their product Shuey and Byrd were seeking a$200,000 investment for a 20% equityin their company. From here their pitch started to go downhill when they revealed that they had no sales yet.
Robert Herjavec questioned the reliability of fingerprint scanners. But tensions reached an all-time high whenMark Cubanquestioned the cost of making an Amber unit. The duo revealed that it takes them about $1000 to make a single unit, to which Kevin O’Leary added“This is going to end so badly.”
“If I offered you $30 Million…”: Mark Cuban’s Most Legendary Shark Tank Deal Could’ve Earned Him a $150,000,000 Company
After which Cuban said,“That is such a bad bus(iness).”Following which the duo had to walk out of the show empty handed, with Lori Greiner pointing out“I think that was the shortest pitch.”O’Leary also added his thoughts on the same and said,“It’s the worst pitch!”This was definitely a blow to what the duo had imagined, and getting laughed at also didn’t make things easier.
Mark Cuban Details His Worst Investment on Shark Tank
Mark Cuban’s billionaire empire would be the perfect example of what happens when a person is not afraid of hard work. While he does so himself, he also expects others to pay more attention to their business without any distraction’s. This was one the main reasons as to why he said in a podcast that investing in theBreathometer was his worst idea.
The product had great potential, but Cuban started to have issues with its founder Charles Michael Yim, who was more interested in partying then to work on the company. In theFull Send podcast, Cuban talked about the Breathometer and added“This was my biggest beating.”
For context: Yim presented his Breathometer, a smartphone-attachable breathalyzer in 2013 and all the “Sharks” were very impressed. Originally, he had asked for $250,000 for 10% equity, but the judges were so impressed that Cuban, O’Leary, John, Greiner and Herjavec all pooled in $1 million for 30% equity.
“I hate you”: Mark Cuban’s Response to Shark Tank Pitch That Spammed Him With Emails, Daymond John Still Invested in it
In this Cuban alone contribution to $500,000 but added that it was a“great product”,but Yim was more interested in partying rather than working on the device. He also added:
I’d look at his Instagram and he’d be in Bora Bora… Two weeks later, he’d been in [Las] Vegas partying, and then he’d be on Necker Island with Richard Branson. (Cuban texted Yim) What the f–k are you doing? You’re supposed to be working.
On his questions, Yim replied that this was his way of networking for the business. And also added that he did not spend all the investment money on trips as Cuban had added in the podcast.
You can watchShark Tankon Hulu.
Sakshi Singh
Articles Published :1434
Sakshi Singh has written over 1,300 entertainment articles, mostly about Netflix shows and reality TV. She’s spent the last two years covering everything from surprise engagements to shocking eliminations and previously wrote for Essentially Sports in their Netflix Junkie division. A self-proclaimed reality TV addict, Sakshi has watched all 48 seasons of Survivor and never misses a new dating or competition series. She loves watching how strangers meet, fall in love, team up, or betray each other - it’s the mix of strategy and drama that keeps her hooked. When she’s not glued to a reality show, she’s usually watching a crime thriller or tracking the next big streaming hit.
