Things Get SHAKY With Crypto Based Company, Bundil | Shark Tank US | Shark Tank Global

Summary

Demitri Love from Dallas, Texas, pitches his cryptocurrency investment app, Bundle, to the Sharks seeking $100,000 for 10% equity. Bundle simplifies investing by rounding up users' spare change from daily purchases and automatically investing it into chosen cryptocurrencies like Bitcoin, Ethereum, and Litecoin. The Sharks debate the app's market potential, customer acquisition strategy, and the volatility of the crypto market. Kevin O'Leary offers a deal for 50% equity, recognizing the high cost of customer acquisition, and Demitri accepts, excited to have a Shark on board.

Takeaways

• 😀 Demitri Love from Dallas, Texas, is the founder of Bundle, seeking $100,000 for 10% equity.
• 💡 Bundle is a mobile application that simplifies investing in cryptocurrency by automatically investing users' spare change.
• 💰 The app rounds up everyday purchases to the nearest dollar and invests the difference into the user's chosen cryptocurrency.
• 🔑 The script highlights the complexity of cryptocurrency investment and how Bundle aims to make it more accessible.
• 🌐 Bundle currently supports Bitcoin, Ethereum, and Litecoin, showcasing a focus on popular cryptocurrencies.
• 💼 Demitri's background as a web developer influenced the creation of Bundle to address the difficulties faced by novice investors.
• 💵 Bundle generates revenue through a monthly subscription fee of $3 or an annual fee of $24.
• 📈 The company has a soft launch strategy, starting with an iOS app and planning to expand to Android and a web app.
• 📊 The script discusses the importance of customer acquisition and how Bundle's strategy aims to keep costs low with a viral approach.
• 🤝 A Shark offers $100,000 for a 50% stake in Bundle, emphasizing the high customer acquisition costs and the need for further investment.
• 🚀 The partnership with a Shark is seen as a significant opportunity for Bundle, providing resources and expertise to scale the business.

Q & A

What is the name of the company seeking investment in the script?

The name of the company is Bundle.

What is the amount of equity Demitri is offering in exchange for the $100,000 investment?

Demitri is offering 10% equity in his company for the $100,000 investment.

What is the primary function of the Bundle app?

The Bundle app allows users to automatically invest their spare change from everyday purchases into cryptocurrency.

How does the Bundle app track spending habits to invest in cryptocurrency?

The Bundle app automatically tracks spending habits and rounds up the change from purchases to invest in the user's chosen cryptocurrency.

What cryptocurrencies does the Bundle app currently support?

The Bundle app currently supports Bitcoin, Ethereum, and Litecoin.

How does Bundle make money from its users?

Bundle charges a monthly fee of $3, or an annual fee of $24 for its service.

What is the current status of the Bundle app development?

At the time of the pitch, Bundle has a minimum viable product with an iOS app, a web app that is almost completed, and they are working on an Android version.

What is the customer acquisition cost for Bundle?

The customer acquisition cost for Bundle is $277 per customer.

What is the main concern expressed by the sharks regarding the cryptocurrency market?

The main concerns expressed by the sharks are the volatility and the unregulated nature of the cryptocurrency market, as well as the difficulty in customer acquisition and the potential for market saturation with similar products.

What offer does one of the sharks make to Demitri?

One of the sharks offers $100,000 for a 50% partnership in Bundle, with the condition that Demitri commits to putting up more money as time passes if the business is successful.

What is Demitri's response to the shark's offer of a 50% partnership?

Demitri accepts the shark's offer of a 50% partnership, acknowledging it as a great opportunity.