Shark Tank is an ABC show in which billionaires and tycoons (called sharks) give budding entrepreneurs the opportunity to make their dreams come true, investing in those businesses that can look forward to the future.
The "Sharks» consist of; Mark Cuban, Barbara Corcoran, Lori Greiner, Robert Herjavec, Daymond John, and Kevin O'Leary.
The developers of the photo and video app panorama, Cycloramic, were able to capture an investment of 500.000 dollars of sharks in last night's episode. Cycloramic appeared in 2012 and was the first and only application that is capable of taking videos 360 degree hands-free, tal which, it uses to spin the iPhone's built-in vibration motors.
Since the filming of the episode the application is in more than 8 million downloads.
After the recording of the show, the developer who presented the application, Bruno francois, made the following statements;
I would never have imagined the immediate impact that our appearance on Shark Tank had in the downloads and on the website. We saw a slight increase in activity shortly before the show, but as soon as our segment started, downloads skyrocketed - far more than web visits. We went from 100.000 downloads in an hour. For the next ranking of the App Store, we will have passed in the general classification from 800 to 2 for the Cycloramic Pro version, and from 220 to 1 for the Cycloramic Studio.
The company auditioned for the program in April 2013, once this round had passed, they were asked for a series of demonstration videos for the production team and after being selected, the live demonstration was made in front of the producers for approval that opened the door to the show. The chapter It was recorded in June 2013 and the applicants never got to talk to the sharks before the show nor did they know the product, it is to play it all together.
The sharks invested in Egos Ventures, that means that also in the new app they are developing, the selfie360 which is a 3D scanning application with business applications.
After the episode of Shark Tank it has also to be commented that they have increased the price of one of the Cycloramic applications at 1,79 euros, matching both versions. According to Bruno, «The decision was based on the download levels and their classification, which seems to be a reasonable price compared to other photo apps in the same download range.«.
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