Brightwheel Shark Tank Update

Brightwheel Shark Tank Pitch

Dave Vasen appeared on Shark Tank Season 7, Episode 26, which aired on April 29, 2016, with Childcare management app.

Brightwheel is listed in the Software Tech category. In plain terms, the business is described as Childcare management app.

Brightwheel asked the Sharks for $400,000 for 40%, implying a valuation of about $1 million.

On the show, Brightwheel made a listed deal with Mark Cuban for $600,000 for 6.67%.

If treated as straight equity, the listed deal works out to about $9.0 million implied valuation, up from the original $1 million implied valuation.

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

Brightwheel After Shark Tank

Brightwheel accepted an on-air Shark Tank deal for $600,000 for 6.67%. Follow-up reporting lists the company as still operating after its Shark Tank appearance. (BrightWheel Shark Tank Update

Cuban and Sacca invested an additional $10 million into the business in 2017. (BrightWheel Shark Tank Update

In a later interview, Sacca mentioned that he joined the Tank at Mark's request, seizing the opportunity to "bust his balls on national television." The Sharks' friendship has served Brightwheel well, launching the app in even more schools nationwide. (BrightWheel Shark Tank Update

They raised even more money after the show. (BrightWheel Shark Tank Update

The company also introduced a paid premium service that enables two way messaging in the app, let's parents sign in from their own phone and adds document management for schools. (BrightWheel Shark Tank Update

The official website for Brightwheel is listed as mybrightwheel.com. (Brightwheel website

Sources

Sources used for this page: Shark Tank API pitches