Spare Shark Tank Update

Spare Shark Tank Pitch

D’ontra Hughes appeared on Shark Tank Season 10, Episode 20, which aired on April 21, 2019, with virtual atm network and mobile app.

Spare is listed in the Software Tech category. In plain terms, the business is described as virtual atm network and mobile app.

Spare asked the Sharks for $500,000 for 3.5%, implying a valuation of about $14.3 million.

On the show, Spare made a listed deal with Mark Cuban for $500,000 for 12% + 2% advisory shares.

If treated as straight equity, the listed deal works out to about $4.2 million implied valuation, down from the original $14.3 million implied valuation.

This pitch is included as context for the more important question: what happened after Shark Tank.

Spare After Shark Tank

Spare accepted an on-air Shark Tank deal for $500,000 for 12% + 2% advisory shares, but later updates say the deal did not close. (Spare Shark Tank Update

By June 2023, update sources put Spare's annual revenue around $4 million. (Spare Shark Tank Update

D’Ontra continues to grow the business and has partnerships with Master Card, LiteLink Technologies Inc., and others. (Spare Shark Tank Update

It can also be downloaded from the Google or Apple App stores. (Spare Shark Tank Update

It’s not listed on Mark’s website as one of his Shark Tank companies, and the app still hasn’t expanded beyond the City of Los Angeles. (Spare Shark Tank Update

Sources

Sources used for this page: Shark Tank API pitches