Mark BULLIES Rolodoc Owners With Their Poor Presentation | Shark Tank US | Shark Tank Global

Summary

In the Shark Tank episode, two physician brothers pitch their medical communication app, Rollerdoc, seeking $50,000 for a 20% stake. They aim to modernize healthcare communication with secure email and instant messaging between patients and medical professionals. Despite the potential, the pitch falls flat due to a lack of clarity on user acquisition and monetization strategies, leading to all sharks declining the investment.

Takeaways

• 👨‍⚕️ The presenters, Dr. Richard and Dr. Albert Amini, are brothers and physicians seeking investment for their company, Rollerdoc.
• 💡 Rollerdoc aims to innovate medical communication by offering a secure email and instant messaging platform for patients, physicians, and other medical professionals.
• 📱 The mobile app allows patients to search for physicians by state, specialty, or insurance provider and view their profiles.
• 🔍 The app is currently in Alpha Testing with 50 users, focusing on personal connections to verify functionality.
• 💼 The doctors aim to replace outdated communication methods like pagers with their modern app.
• 🤝 The platform intends to facilitate direct communication between doctors and patients, potentially streamlining the referral process.
• 🚫 Some 'sharks' expressed concerns about the feasibility of the business model, the security of medical information, and the practicality of the app in a professional setting.
• 💭 The presenters faced criticism for not clearly explaining how they would attract users and monetize the platform.
• 📉 The pitch was unsuccessful, with all the 'sharks' declining to invest, citing concerns about the business plan and the presenters' lack of preparedness.
• 📈 Despite the rejection, the doctors remained optimistic, believing that their idea could still be valuable and that their experience could benefit future entrepreneurs.

Q & A

What is the name of the company founded by the two brothers who are doctors?

The name of the company is Rollerdoc.

What is the primary purpose of Rollerdoc according to the pitch?

The primary purpose of Rollerdoc is to innovate communication in the medical field by providing a secure email and instant messaging platform between patients, physicians, and other medical professionals.

How much investment are the founders seeking for their company?

The founders are seeking an investment of fifty thousand dollars.

What percentage of their company are the founders offering in exchange for the investment?

The founders are offering twenty percent of their company in exchange for the investment.

What is the current state of the Rollerdoc app?

At the time of the pitch, the Rollerdoc app is in Alpha Testing and has 50 users.

What is the main concern expressed by the investors regarding the security and verification of medical professionals on the platform?

The main concern is the potential for unverified or inaccurate information about medical professionals, which could lead to dangerous outcomes for patients.

How do the founders plan to attract doctors to use Rollerdoc?

The founders plan to attract doctors by leveraging their medical connections, launching in specific regions, and promoting the platform as a way for doctors to brand and advertise themselves.

What is the investors' main objection to the business model presented by the founders?

The investors' main objection is the lack of clarity on how the platform will attract users, how it will be monetized, and the potential legal and liability risks involved in connecting patients directly with doctors.

What is the proposed method for monetization of the Rollerdoc platform?

The proposed method for monetization is through targeted advertising within the secure environment of the platform.

What is the main criticism from the investors regarding the presentation of the business plan?

The main criticism is that the founders did not effectively explain how they will acquire users, how they will make money, and the overall clarity and viability of the business plan.

How do the founders respond to the criticism and rejection from the investors?

The founders express disappointment and acknowledge that they were not prepared enough. They also mention that their background as physicians may have contributed to their lack of salesmanship.