Shark Tank Update
Shark Tank Pitch
Cycloramic Shark Tank Update
Published:
2m
Atlanta, GA
| Name | Cycloramic |
|---|---|
| Main Presenters | Bruno Francis |
| Presenter Image | |
| Product Image | |
| Last Known in Business | 4/17/2018 |
| Main Location | Atlanta, GA Loading Map |
| Order Shown in Episode | 4 |
| Final Deal | Deal was made on the show with sharks Mark Cuban, Lori Greiner for $500k for 15% of company. |
Cycloramic Shark Tank Pitch
Bruno Francis created the Cycloramic app, which allows users to create 360-degree panoramic photos on an iPhone without using a tripod. The phone spins by vibrating at specific vibration frequencies that Bruno found optimal for causing the spin.
Bruno has a patent on his software. Cycloramic has been downloaded 660k times through the iTunes app store at $1, equating to $175k in sales. Bruno hopes to do $1 million in sales this year.
Every shark is interested in Cycloramic. Mark hopes to sell the technology to apps like Instagram or Vine and, after every other shark has an offer on the table, makes a $1 million offer. Bruno wants two sharks and less equity to be given up and settles on a deal with Lori and Mark.
Offers
| Made By | Label | Sharks Part of Deal | Summary |
|---|---|---|---|
| Company | Offered | $90k for 5% of company | |
| Sharks | Offered | Lori Greiner | $200k for 10% of company |
| Sharks | Offered | Daymond John | $250k for 10% of company |
| Sharks | Offered | Kevin O'Leary | $90k for 0% of company and a 15% royalty |
| Sharks | Offered | Steve Tisch, Lori Greiner | $250k for 10% of company |
| Sharks | Offered | Mark Cuban | $1 million for 30% of company |
| Sharks | Offered | Daymond John | $300k for 10% of company |
| Sharks | Offered | Kevin O'Leary | $200k for 10% of company, drops to 5% when $200k recouped |
| Sharks | Offered | Steve Tisch, Lori Greiner | $250k for 10% of company, drops to 5% when $200k recouped |
| Sharks | Offered | Daymond John | $350k for 12% of company |
| Sharks | Offered | Lori Greiner, Mark Cuban | $1 million for 30% of company |
| Sharks | Offered | Mark Cuban, Lori Greiner | $500k for 16.5% of company |
| Sharks | Deal | Mark Cuban, Lori Greiner | $500k for 15% of company |
Mark Cuban
Made Deal
Daymond John
Offered
Kevin O'Leary
Offered
Lori Greiner
Made Deal
Steve Tisch
Offered
Updates in Shark Tank Episodes
| Update Season | Update Episode |
|---|---|
| No Episode Updates | |
Cycloramic After Shark Tank
According to a 2019 article by cnbc.com https://www.cnbc.com/2018/11/01/car360-founder-went-from-shark-tank-to-a-22-million-sale-to-carvana.html, Bruno Francis left a steady job at his family's home-product company to take a shot at making a viral app, despite the potential risks for his wife and two children. Bruno spent all $150k of his life savings and a year with two interns attempting to think of and build a viral app.Link Preview
cnbc.com
Bruno created four apps over a year that were all duds. When he was just about out of money, he thought of the idea for Cycloramic and quickly developed it. Within a week of being on the app store, Apple co-founder Steve Wozniak posted a video on Facebook of him using Cycloramic. The app quickly went viral and hit number one in the app store.
A year later, Cycloramic was aired on Shark Tank resulting in 8 million downloads over the next week. App downloads slowly faded, and the iPhone 6 came out with a round edge, so Bruno was forced to pivot.
Bruno created Car360, which raised $3.5 million from outside investors and more from Mark Cuban, raising Mark's total investment in Bruno to $700k. Lori has not been mentioned in any article, so it is possible her part of the deal fell through. In 2018 Car360 was sold to Carvana for $22 million.
Mark Cuban said on the Full Send Podcast https://youtu.be/L_8wm30tLyc?t=3990 https://x.com/cycloramic in 2022 that Cycloramic was his favorite Shark Tank investment. Cycloramic's last Tweet from @cycloramic Link Preview
Full Send Podcast was in 2018.Link Preview
@cycloramic
According to Bruno Francis' LinkedIn https://www.linkedin.com/in/brunofrancois, he worked for Caravana until 2022.Link Preview
LinkedIn
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