Foreign [Music] Way to transport you to an alternate Reality [Music] Hello sharks my name is Young goodgalak I'm from Houston Texas our company is Virtuicks and we are seeking two million Dollars in exchange for 10 of our Company This is the Omni The first ever virtual reality platform That allows you to be truly a part of The video game the Omni is a Omnidirectional treadmill but you Removed all the moving Parts it's Basically a low fiction surface on which The user walks with these Special shoes That have a low friction sole Steve will Also put on a support belt which Provides safety you can't fall on the Omni also provides some support so you Can use the Omni hands-free so you can Hold the controller or a gun in your Hands the Omni can be played with any Existing game that uses keyboard input Once you're in the Omni you can put on The virtual reality glasses oh cool this Is right up your alley the Omni enables You to walk Run Jump And crouch in 360 degrees and put your Mind and your body into the video game
To transport you into a different world [Music] Cool wow virtual reality has never Broken through because the technology Wasn't ready that's all changing now the Technology is here the Omni is here so Which of you sharks want to be on the Forefront of this virtual reality Revolution Robert you look excited would You like to try it out I'd love to try It out absolutely Whose glasses are you using this is the Oculus Rift okay so you're using the Oculus ref right Oculus Rift you can Interface with the different types of Video platforms that's right You better give Robert a vomit bag all Right I'm gonna set up the connect What's it like in there Robert it's very Cool so Robin the gun is just a trigger So you aim with your look and there's a Very cool oh wow Look he's back in Croatia Kevin come out And play All right oh that's very cool feels very Very immersive how much is it we're Selling those on our website right now For 499 that's it that's cheaper than I Would have thought how many have you Sold so we launched this product on Kickstarter and we raised 1.1 million Dollars wow how many units are you going To have to deliver close to 3 000 thank You very much John that was awesome
Great it was very cool very very cool Where do you see how uncool you looked Up there were you winded when you were On there I was but I don't know if I was Winded because I didn't know how to use It I think once you got used to it you'd Be fine do you think that uh guys who Play games like this want to exercise Because usually they have a side job as A plus size model yeah well play games Nobody likes being overweight people Would like to be fit but Gamers they Don't like to exercise now we can play Games and lose weight and burn calories At the same time people are excited About it it's a weight loss machine as Well is that what you're thinking Absolutely But there's a bigger issue right this is Pretty much based around Oculus Rift Right as Oculus Rift goes you guys go Can you tell me what that is that is Oculus Rift that's that's the the Headset the rift is basically what Started this virtual reality Revolution They've done a phenomenal job of Allowing you to put on a headset and be In an immersive world is that included Right it's not included in a product 300 is the gun included the gun is off The shelf you can buy it online it Sounds like it's going to be an eight to Nine hundred dollar cost which is quite A bit
Why don't you tell us why you're worth 20 million dollars today I mean no one's Address yeah I think it's the elephant In the room that's a ridiculous Valuation for this let me walk you into The numbers the rift is an analog for Our product same target market same People they're selling 200 of these per Day right now their projects to do 500 000 units in sales next year if we Convert one out of 20 buyers of the rift Well we would be selling 25 000 units Next year which is 12 and a half million Dollars in sales there's a fundamental Difference though when I buy the Headgear I can still sit around and Lounge you're forcing me to stand and You're forcing me to be interactive I Don't think people want to be that Interactive I sold 3000 even on the Numbers just without a product we can Debate the merits of the product I'm Just trying to look at the sheer number You want me to pay your value two years From now today here's my thinking on it If my husband brought this into my house I would divorce them immediately I think it's a problem because of its Size in the home I also think it's a Tremendous problem to sell this in Retail I sell a lot of product now Through retail I couldn't get anybody to Give the floor space to this you'd pay So much just to demonstrate it but I
Think that's a concern you have to Realize that 50 of the population is Married and they're gonna have to deal With their wife on this one so I'm at You know I see the market You know Black Ops did amazing Grand Theft Auto right breaking records I see The market but I also don't see somebody Playing this more than an hour or half An hour a day before they can't even Play anymore because they're out of Breath so they're tired they just won't Revisit it so for all those reasons and More I'm out Look great product I will definitely buy One but I think I'm an anomaly you Better talk to your wife she's not a Pushover well we have a big house Probably she'll never see it but I don't Think that people want to exercise and Immerse themselves in a physical world To that degree I think if people really Want to immerse themselves that way I Think they'll go outside I I don't buy The premise I'm out There's Siri going with it but it is a Sub-segment of a sub-segment market and It's very expensive I get it and say to Myself is this a good deal of 20 million Dollars where you are right now and the Answer is no it's not There's too much risk between your Delivery of a consumer product a retail Distribution strategy and your sales
You've got tons of risk all kinds of Risk and I gotta pay tomorrow's price Today I hate deals like that I hate it When you make me pay for two years from Now if everything works today why would I do that I'm not an idiot why would I Do that because of the potential you're Going to have problems poop is going to Happen my friend and I have to pay for That now no It's an outrage we're ridiculous I'm out I get what you're doing I could see you creating 20 million in Sales 25 million in sales with this But you're competing just like headsets Are going to be competing just like the Consoles are going to be competing You're one more one more Outlet Competing for Consumer dollars you have To push that ball so hard to keep going If you haven't told me that there's a Way to get to 50 million in sales and in Six years there's going to be completely New technology that blows all this away For those Reasons I'm out [Music] Thank you thanks guys you know I look at The experience and what can people learn From what happened here today and for me The lesson is very interesting IP way Overpriced if you had put this at a 5 Million valuation it would have been Very interesting Good luck thank you John
Anybody pays 20 million for that is Insane gamers are lazy like most human Beings they don't want to exercise no They don't First into the tank is a product to Comfort and relieve stress Foreign [Music] We're a husband and wife team from Milwaukee Wisconsin and today we are Seeking a hundred and fifty thousand Dollars in exchange for 10 of our Company Sharks like so many people out there We've got a real problem in the bedroom Between his sleepwalking and my restless Legs there's a whole lot of action and Not enough sleep so that's why we Invented sleep pod a first of its kind Sleep solution designed to simulate the Feeling of being hugged or cuddled sleep Hot uses a specialized four-way stretch Material that wraps around your entire Body as this fabric stretches it wants To compress providing a gentle calming Pressure helping you to relax and fall Asleep now I know what you're thinking And you're right it's essentially an Adult swaddle but sleep pod is so much More than that it's made from a Breathable material that doesn't trap Heat it's lightweight so it's easy to Travel with and best of all it's machine Washable and my favorite part is your
Significant other can't steal your Covers but in all seriousness sharks we Spent a third of our life sleeping yet So many of us struggle to get a good Night's rest with hug sleep we can bring Some magic back into the bedroom and get People sleeping like babies again so Sharks who wants to jump in bed with us So I know 2020 has been a little bit of A stress full year to say the lease and It looks like all of you guys could Really use a good hug right now we would Ask Robert and we'd love to have you Come up here and test out sleepover to Hug you no no Oh there you go yeah unless you really Want a hug all right go ahead and have a Seat on the side of the bed You're gonna put it on just like you Would a pair of pants so put both legs In Both both legs yep and you're gonna stay Seated for this but go ahead and scooch Back and swing your legs over onto the Bed go ahead and get comfortable you Really want to go back to your chest Yeah yeah you can switch your butt stand Up pull it yeah now Robert start hopping Oh it's pretty snug that's it we don't Advise to do that because we don't want You to fall oh it feels great So you actually want to lay down before You do that because I would hate to see You fall I'm an advanced sleeper there
You go so now yeah you can lay down as Well It's actually Really soothing why is there a pocket Yeah so we're going to tell you about That that's the newest addition a lot of People like to sleep with one foot out For temperature regulation oh so that is A pocket so you can if you want but if You choose not to [Laughter] See what we have to deal with You hey however is bleeding Robbie okay I hate you You're doing everything we advise Against so okay Um let's talk about Acceptance in the Market are we going to talk about it Rob Is sitting here bleeding we're going to Talk about it Get a lawyer Before I bled to death it was very Comfortable good okay so guys sales so It's been about 16 months or so since we Started selling lifetime sales to date Are about 490 000. so in the last 12 Months or so we've done 335 000 in Top Line Sales on that we grossed about 215 And our net on that is about 140. where Were you selling yeah Through our website as well as Amazon And what do you sell them for online and What does it cost you to make landed it Typically sells for 99.99 and each sleep
Pod costs us on average about 22.50 to Make but as we continue to scale we can Get that down to about 18. so I just put It on it's warm it's very silky soft Feeling very snuggly very stretchy Absolutely so I think it'd be really Helpful if we took a step back and kind Of explained how this came to be So a few years ago I heard about Weighted blankets like the rest of the World I ended up buying one of these Weighted blankets and I tried it on and I loved it that initial pressure really Brought on this sense of calm but I went To sleep later that night and very Quickly I ran to the all too common list Of complaints associated with weighted Blankets one they trap heat like crazy And they just overheat next they're very Difficult to wash you can't just take a 30 pound weighted blanket and throw it In your washing machine washing machine Would probably explode right I'm a Mechanical engineer who's been able to Work at some pretty cool companies so I'm no stranger to creating solutions to Problem like okay maybe you don't use Weight to create pressure but you use Compression and this way it wraps around Your entire body and really truly Simulates the feeling of being hugged And Angie what's your background So I'm a therapist I have a master's Degree in community psychology I
Specialize in the treatment of anxiety Disorders for kids and adolescents so I Knew more than a lot of people how Important sleep is not just for our Physical health but our mental health Too so when he told me this idea I was Already aware of deep touch pressure Therapy not only for things like autism Which is what it was originally designed For but for anxiety disorders for Post-traumatic stress disorders deep Touch pressure therapy is basically Gentle but firm pressure applied to the Body that triggers that relaxation in The body okay the question is here how Much time and energy do you have to Spend explaining the merits of the Product to acquire the customer so our Cost of acquisition has been phenomenal What is it eleven dollars and fifty Cents Blended wow and that's over the Last six months and this is scale Primarily on Facebook uh yeah so we're Running PPC campaigns on Facebook and Instagram What did you do last month uh so last Month was our highest Revenue month ever We did 50 000 last month and were you Profitable oh absolutely yeah okay so How much did you make in profits uh so Our net profit is usually about 41 of Our Top Line sale so it was about 22 000. good for you that's awesome thank You for killing it and we did bootstrap
This company with twenty five hundred Dollars yeah yeah that's all you put in That is all we put in and we were Profitable within the first week or two Of selling I hope everybody at home is Hearing that All right what are you going to use the 150 000 for so so demand has been crazy And we really need inventory I get it so Um I like it I want to offer 150 000 for 20 percent Thank you for that offer thank you Would you like to say yes so I don't Want to drop valuation that much you can Counter watch your counter Matt I'm intrigued also because of one Kevin Why don't you let him answer he was About to say it may make it better maybe My offer will just make Damon's Evaporate that's why you don't have to Worry about it just make you evaporate No I just look at it and say that you've Know your customer acquisition cost I Would just like to pour more money onto That very model the value I would add Here is to drive that acquisition cost Down I'll do the deal at 15 percent Thank you thank you thank you for the Offer are you going to accept it Wait a minute I'm going to give you an Offer whoa My offer would be 150 000 also for the 15 percent Thank you thank you well and I guess
There's something I want to make sure I Put out there there are a lot of people Suffering from anxiety sleeplessness We're not getting a lot of hugs Um and so this really is something that Hugs you back even if you are alone Um I personally really benefit from the Sleep pod Because one of my my best memories from Childhood was being tucked in by my mom Every night The reason I went into psychology I lost my mom to suicide when I was 17. And through all of that pain I found a Passion for helping other people And can help so many people I love Helping kids I'm dedicated to helping Kids but there are adults out there who Need help too and this product can fit So many people and so many needs and so I I want to make sure that we make a Deal with somebody who's just as Passionate about this as we are You know I love it guys And I've got people in my household and My family that have sensory issues so That's why it's very close to me and so I'll make you an offer I'll give you a Choice I'm going to give you two offers one Will be just what you asked for 150 000 for 10 and the one I prefer is three Hundred thousand dollars for twenty Percent so that way we're closer
Partners that I think we could really Give you the same offer and the same Choices Wait a minute I'll match the same offer All sharks are still in and a bidding War is underway for Angie and match Therapeutic swaddle for adults hug sleep So guys you're gonna get five offers I don't know how often that happens Um not off no and look there's only one Person up here who actually bled for you Guys All right here's my offer 300 000 for 20 Percent That's my offer Guys this is extraordinary Uncharted What do you guys want to do Uh well I think we certainly understand The value that all you sharks bring and You know if if any of you guys would be Willing to kind of come together I think That's just going to continue to explode This company All right Lori and I will do it together Um the 300 For 20. Well I think if you guys are teaming up And kicking us to the curb Kevin Damon Will you come in because I think three Sharks is better than two oh that's Interesting I think so all right I'll Come in with Kevin Thousand for twenty percent yeah That's a tough one oh my God three is
Better than two Problem to have very good problem to Have I know we came in initially targeting Mark and Lori If you guys want to do a deal at 20 for 300 you got yourself a deal Done thank you thank you [Applause] I'm suing you for making me bleed I'm Not gonna sleep at night now Congratulations guys thank you That's pretty incredible Oh 2020 has been a scary time and I Think sleep pad's gonna help a lot of People yeah a little bit that we can do I'm so proud of you I'm proud of you That was incredible Oh man Next in the tank is a company that Brings a cool addition to Just routine [Music] Hey sharks I'm Michael Garrett and I'm Ryan Dewey and we're from Sacramento California our company is plunge and We're seeking 1.2 million dollars for a 5 stake in our company Sharks what if I told you you could Lower inflammation increase fat loss Strengthen your immune system sleep Better reduce muscle soreness have more Energy in just one minute well this Isn't fiction this is reality and this
Is not a bathtub this is a cold plunge Studies show that cold plunging Increases norepinephrine levels two to Three times their normal amount I don't know what that is either but Apparently that's what leads to all Those incredible benefits sharks all Over the world cold exposure is Exploding but buying 40 pounds of ice is A huge hassle our revolutionary cold Plunge uses powerful Cooling and Filtration to give you cold crystal Clear water whenever you want all in a Beautiful Sleek tub just set your Temperature anywhere from 60 all the way Down to 39. so sharks who's ready to Take the plunge wow how about you Robert You look like you could use a plunge I'll try it I'll try that's cool let's Do it baby What's the temperature set to five right Now 55 that's not bad it's pretty cold 55. no I've done cold plunges like many Times because we have one at the Mavericks obviously why can't I fill up My tub with cold enough water cold out Of the tap isn't going to be you know 55 Maybe sometimes of the year if you're in A cold environment you can try ice in it Though that's what most people do right Now they're buying ice and then it's Like they have to drain it right after Where our unit it's always filtering It's always set it's always clean
All right all right the key here is Going to be anchoring to your breath Your body is going to want to be really Excited you're going to want to get out But you want to override that with slow Just relax Robert how long is he Supposed to hold back the urge to jump Out two minutes is ideal Robert just got to get in don't be a Wimp Yes lay back get comfortable [Music] [Applause] You got this override the body your mind Wants to get out just breathe through it Totally safe Slow down the breathing nice slow Breaths beautiful be one with the cold He's gonna feel incredible afterwards Really cold are you feeling like numb Like you're getting used to it like it's Not as big But surprisingly the breathing really Helps And now it doesn't feel as bad I Wouldn't say it's comfortable but it's Not bad I'm here Grab my towel right there oh my god wow Mark why do they do it why do the Athletes do it it helps with Inflammation I'll just put my leg in Actually yes it's incredible like you Feel your blood clone like seriously Like I feel no it wakes you up if you go
Like iron it wakes you up ready to go Let's go let's go so Michael and Ryan The big ice cube in the room is the 1.2 Million for five percent in shoots a 24 Million dollar valuation you better be Selling a lot of them we just launched a Year ago we were building out of his Garage literally 12 months ago we sold Our first unit to date we've done 4.9 Million dollars in sales wow over the 12 Months 4.9 year to date 4.5 and we're on Pace this month through 1.1 walk us Through the economics Thank you thank you what's the cost to Make one and how much do you sell it for And how do you sell it so we sell them On our website and so this plunge is 4 800 so it's very affordable our landed Cost is 2400 and that does include Shipping do you have any installation Service that's the amazing part of it it Shows up they put it wherever you want It from there you have about 15 minutes Of setup and that 15 minutes is mostly Filling up with a host the question is How big is your market right because What happens when somebody comes up with A good product you get all the pen up Demand as people hear about it and they Dive in right so you get this initial Surge but at a 24.5 million dollar Valuation and only having five percent You have to make 24 million dollars in Distributable cash profits in order for
Us to get our money back right I have to Think in terms not only can I get my Money back but how much more money can I Make on it and for you to come on here With that valuation I can't blame you I Can I'll do the blaming Okay so I like the deal because of the Revenue but I also see lots of Competitors that could knock you off I'll make you an offer I'll give you the 1.2 million for 18 Equity but I have to Get my money back somehow so I get 18 of The distributions you get the rest every Time you take out a dollar I get 18 Cents let me tell you what I think I Agree with Mark I think about like how Many years is going to take me to get my Money back I wish you the best of luck But I'm out So guys there's more money better like Is the 1.2 million when you've Calculated what you really need or is it Like if you got more money would it make Life better would make things go faster So 1.2 million gets us it's enough for 400 units that we can build what we want To do with the money is to really ramp Up production okay I'm going to I'm Getting offer Maybe the one point I think it's going to be in the form of Half a loan or line of credit whatever You prefer because I think that's your Real need you just have cash flow
Problems And then the other 50 up front got it Thank you I asked a question about cash Because I wanted to see what you were Doing with it if you have more cash do Things go faster and it sounds like they Do I'll give you 2.4 million 1.2 million for straight Equity I want 15 for that and I'll give you the other 1.2 million as a straight up loan same Rate you will get from the bank because I do think more money will make things Go faster so that's my offer Guys I'll simplify all that okay I'll Offer you the 1.2 million 15 right I'll Finance your purchase orders and it's Just got to be first dollar back to me On the sale and so if you finance 100 Units or 200 when you sell those I get Paid back first right so it's just first Dollar back So you guys you now have four offers a Lucky day for you guys what are you Gonna do Robert would you would you drop To 10 percent I dropped to 12 percent Mark 10 percent [Music] Robert we got a deal Wow Thank you I am so cold Congratulations hi guys good luck A couple months ago we were in my garage
Building cold plunges and now here we Are Rob we have a deal with Robert 2.4 Million dollars it's incredible
