Question

Watch an episode of Shark Tank on the internet or on CNBC or on-demand through cable TV, and then choose ONLY ONE of the following scenarios below to prepare for this assignment:

• For one of the startups that received funding, what traits of that business made it attractive to the investor? Why?
• For one of the businesses that may or may not have received funding, what resources or capabilities were they looking for in the sharks, in addition to money? Why?
• For one of the businesses that did not receive funding, what was the fatal flaw that discouraged investors? Why?

Make certain that you state the name of the company or startup business that you selected in your assignment.

Answer 1

The startup business that recieved funding is PhoneSoap . Its founders are two cousins, LaPorte and Dan Bernes who appeared in the show in 2015. They started their business officially in 2014 and sold some units. In 2015, they were featured in Shark Tank. The name of their startup was PhoneSoap. Both cousins claimed that they heard from a research that a cell phone is dirtier than public restrooms.So they developed PhoneSoap that is the only charger that would charge a phone by using UV light while disinfecting your phone.

They were fortunate enough to get three offers from the sharks but ended up choosing Lori Greiner as their partner. The trait of the business that attracted the investors were that this was a very new and fresh idea, unique at the same time. Nobody thought of having a mobile charger that would disinfect a phone while charging. It has been tested and clinically proven that it kills 99.9% germs from the phones.Not only viruses and germs but also it can kill strong bacterias. In addition it had a very longer battery life. Also the fact that impressed the investor is that everyone has a phoneand we don't keeo any device so close to ourselves as our cell-phone . so this business idea would grow and would sell many units. It would be able to attract many customers from the market. Lori was confident that this product would be wildly successful and she wasn't wrong, soon the team created more products and models for tablets and devices. To date , PhoneSoap has sold over a million units and is growing at a rapid speed.