ENTREPRENEUR: Aviv Grill
PITCH: Miso Media
ASKING FOR: $300k for a 5% stake
BEST PART OF THE PITCH: Miso Media creates educational software that teaches people how to play the guitar, ukulele, banjo and other instruments. You can use a virtual instrument in the app if you don't have a real instrument. You can also plug your instrument directly into the ukulele. He brings in indie-pop & singer-songwriter Ingrid Michaelson to help demonstrate his product. It's a pretty good little show. Google and Justin Timberlake have already invested in the company. He's had 80,000 downloads of a free app. They make money by selling customers sheet music. It's a clever way to go after a traditional market.
DO THE SHARKS BITE? Daymond doesn't believe Aviv truly wants to make a deal. If he did, then he would have offered more than 5%. He believes there is something fishy there, so he's out. Barbara has been burnt by technology businesses before, so she's out. Kevin offers $100k for a 3.33% stake. That means Aviv needs to raise the other $200k from the other Sharks. Robert offers the entire $300k for 10%. Aviv counters with 7% which has Robert going out. That leaves Kevin and Mark.
THE RESULT: $300k for 8%. Kevin offers to pay half of that as a partner. Mark says Aviv doesn't need Kevin because he understands the product. Aviv agrees. He makes the deal with Mark and leaves the tank singing a happy tune.
WANT TO KNOW MORE: Visit www.misomedia.com