XCraft Shark Tank Update

XCraft Shark Tank Pitch

JD Claridge appeared on Shark Tank Season 7, Episode 5, which aired on October 23, 2015, with customized unmanned aerial systems – drones.

XCraft is listed in the Software Tech category. In plain terms, the business is described as customized unmanned aerial systems – drones.

XCraft asked the Sharks for $500,000 for 20%, implying a valuation of about $2.5 million.

On the show, XCraft made a listed deal with Kevin O'Leary, Mark Cuban, Lori Greiner, Daymond John, and Robert Herjavec for $1500000 for 25%.

If treated as straight equity, the listed deal works out to about $6 million implied valuation, up from the original $2.5 million implied valuation.

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

XCraft After Shark Tank

XCraft accepted an on-air Shark Tank deal for $1500000 for 25%. The on-air deal did not close. Follow-up reporting lists the company as in business. (XCraft Shark Tank Update - High-Speed Drone Wows All Sharks

The Phone Drone Kickstarter project raised over $170K in the days following the show, blowing right through their $100K goal. (XCraft Shark Tank Update - High-Speed Drone Wows All Sharks

They had introduced new models. (XCraft Shark Tank Update - High-Speed Drone Wows All Sharks

Sources

Sources used for this page: Shark Tank API pitches