Shark Tank Update
Shark Tank Pitch
Pink Shutter Photobooths Shark Tank Update
Published:
2m
Sacramento, CA
| Name | Pink Shutter Photobooths |
|---|---|
| Main Presenters | Tom Kanemoto and Lance Yabut |
| Presenter Image | |
| Product Image | |
| Last Known in Business | 1/1/2019 |
| Main Location | Sacramento, CA Loading Map |
| Order Shown in Episode | 4 |
| Final Deal | All Sharks went Out |
Pink Shutter Photobooths Shark Tank Pitch
Tom Kanemoto and Lance Yabut created Pink Shutter Photobooths, a roomy photobooth that prints photos on the spot. They operate in several large cities such as Las Vegas and Los Angeles.
Pink Shutter Photobooths did $195k in revenue in their first year and $135k in revenue in the first quarter of their second year with an expected income of $500k for the year with a 60% profit margin of about $300k. Lance recently started taking a $99k salary, and Tom plans to do the same soon.
Barbara is the last remaining shark and makes an offer seeking an equal salary distribution and higher equity, enticing Mark to come back in. Lance and Tom try and get Barbara and Mark to join forces but scare Mark back out with their indecisiveness, and they accept Barbara's original deal.
Offers
| Made By | Label | Sharks Part of Deal | Summary |
|---|---|---|---|
| Company | Offered | $300k for 10% of company | |
| Sharks | Out | Kevin O'Leary | Out |
| Sharks | Out | Mark Cuban | Out |
| Sharks | Out | Daymond John | Out |
| Sharks | Out | Robert Herjavec | Out |
| Sharks | Deal | Barbara Corcoran | $300k for 33% of company and equal salary withdraw |
| Sharks | Offered | Mark Cuban | $300k for 33% of company and no withdraw until sales hit $1 million |
| Company | Offered | Mark Cuban, Barbara Corcoran | $300k for 25% of company |
| Sharks | Out | Mark Cuban | Out |
Mark Cuban
Out
Daymond John
Out
Kevin O'Leary
Out
Barbara Corcoran
Offered
Robert Herjavec
Out
Updates in Shark Tank Episodes
| Update Season | Update Episode |
|---|---|
| No Episode Updates | |
Pink Shutter Photobooths After Shark Tank
According to a 2013 article by handmadehilarity.com https://www.handmadehilarity.com/2013/shark-tank-makes-a-photo-booth-deal Lance Yabut was inspired to create the company when the photobooth company he hired to do his own wedding appeared to be an inefficient process. After their show aired Pink Shutter got around $4 million in franchise requests. The deal with Barbara had not gone through at that time. It is unclear if it eventually went through but several websites report Barbara helping to secure events like Hulu, NBC, and Dreamworks.Link Preview
handmadehilarity.com
In 2014 Tom and Lance launched a spinoff business, speedwayphotobooth.com http://speedwayphotobooth.com, offering a similar experience to Pink Shutter but with a more budget-friendly simple approach. That business appears to have gone quiet in 2019. I'm not sure how business was over the years, but my suspicion is the covid panic was the nail in the coffin.Link Preview
speedwayphotobooth.com
As of 2022, Pink Shutter Photobooths hasn't posted on their Facebook https://www.facebook.com/ThePinkShutter https://x.com/thepinkshutter https://www.pinkshutter.com or Twitter, @thepinkshutter Link Preview
Facebook , since 2019 and their website, pinkshutter.com Link Preview
@thepinkshutter , also seems to be untouched and perhaps nonfunctioning since then.Link Preview
pinkshutter.com
According to Lance's LinkedIn https://www.linkedin.com/in/lance-yabut-8531127, he started a property management company in 2017, which the status of in 2022 is unclear. Lance appears to be listed as a real estate agent in Pasadena, California on some websites in 2022.Link Preview
LinkedIn
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