Shark Tank US | It's A SHARK FIGHT For Bot-It!

Summary

Maurice Bachelor and Joel Griffith pitch their app 'Bot It' on Shark Tank, seeking $150,000 for a 10% stake. The app uses AI to help consumers automate online tasks like booking reservations or purchasing concert tickets, competing with bots that dominate online traffic. They emphasize that their technology is undetectable and caters to both consumers and businesses. After some negotiation, they strike a deal with Mark Cuban and Michael Rubin, securing $300,000 for a 30% stake, with the potential to take their company to a global scale.

Takeaways

• 🤖 Maurice Bachelor and Joel Griffith are founders of 'Bot It', a website and mobile app that uses AI to automate online tasks.
• 💸 They are seeking a $150,000 investment for a 10% stake in their company.
• 🍽️ The product helps consumers book reservations, purchase concert tickets, and more, by automating the process using bots.
• 🦾 Bots now control 50% of online traffic for reservations and purchases, giving them a significant speed advantage over humans.
• ⚙️ 'Bot It' allows users to either select pre-built bots or create custom bots to automate tasks, such as booking golf tee times or restaurant reservations.
• 📈 The company has generated $30,000 in sales in just three months, with over 350 subscribers.
• 🌍 'Bot It' also operates in the B2B market, having signed up a major shipping company in Turkey.
• 💰 Subscription packages range from $40 for the standard package to $300 for the pro package.
• 🤝 Two sharks offered to invest $300,000 for 30% equity, partnering to help scale the company.
• 🌍 The founders are excited about the global potential of 'Bot It', believing their partnership with the sharks will elevate the company's reach.

Q & A

What is the main product being pitched in the script?

The main product being pitched is 'Bot It,' a website and mobile app that uses artificial intelligence to automate online tasks such as booking reservations and purchasing concert tickets.

What problem does 'Bot It' aim to solve for consumers?

'Bot It' aims to help consumers compete with online bots that make it difficult to book reservations or purchase tickets by automating these tasks for users.

How does 'Bot It' work to automate tasks?

'Bot It' allows users to select from pre-built bots or customize their own. The bots automate manual processes like clicking buttons, logging in, and filling out information repeatedly to secure reservations or purchases.

What types of services can 'Bot It' be used for?

'Bot It' can be used for services such as booking restaurant reservations, reserving golf tee times, and purchasing concert or event tickets.

What is the subscription model for 'Bot It'?

'Bot It' operates on a subscription-based model, with prices ranging from $40 for a standard package to $300 for a pro package, depending on the user's needs.

How successful has 'Bot It' been in terms of sales?

'Bot It' has generated over $30,000 in sales within three months and has over 350 subscribers. They have also secured a business-to-business (B2B) deal with a large logistics company in Turkey.

What concerns did some of the sharks have about 'Bot It'?

Some sharks raised concerns about the moral implications of using bots, as bots are often seen as unfair or disruptive to consumers and businesses alike.

How does 'Bot It' differentiate itself from other bot services?

'Bot It' differentiates itself by being available to individual consumers, not just businesses, and by offering customizable bots that are undetectable on any website.

What experience do the founders of 'Bot It' have?

One founder, Maurice Bachelor, has a background in software engineering and has built 'Bot It' from scratch. The other, Joel Griffith, has experience working in social media advertising for companies like LinkedIn, Amazon, and TikTok.

What deal did the founders of 'Bot It' eventually accept from the sharks?

The founders of 'Bot It' accepted a deal of $300,000 for 30% equity, partnering with both Mark Cuban and Michael Rubin.