Steve Does NOT Hold Back With Wearable X Entrepreneur! | Shark Tank AUS | Shark Tank Global

[Music] Burst into the tank tonight is ambitious Tech entrepreneur Billy she's already an International name now she wants to take Her business Global as well once upon a Time I was compared to Elon Musk I was Nominated as fast company's most Important person in technology under 30 At the time if the Sharks invest in us Because we are such an early stage and World first company they'd be truly Believing and designing a better version Of the future Hello everyone sharks lovely to meet you All my name is Billy Whitehouse I'm the CEO and founder of a company called Wearable X today I'm going to ask to Raise 1.8 million dollars for 18 of my Business Okay so 90x Is a yoga line that pairs with your Smartphone via the app 90x has woven in Technology fit yoga pants so there are Sensors throughout the hips the knees And the ankles as well as haptic Feedback and haptic feedback is just a Fancy word for vibrational communication On the body so if you're practicing at Home you don't get the expertise of the Teacher but the pants provide the touch Of the teacher so you can practice Anywhere anytime on your own terms We've done seventy thousand dollars Worth of sales and we're here really

Excited to present to you because I Think I could learn something from all Of you Would anyone like to have a go I would Love to I'd love to give it a go Actually I do a bit of yoga right so I'd Love to sort of be convinced absolutely Yes let's do that This will be good Beautiful how are you okay and then We'll come back and we'll connect you With your smartphone all right beautiful It's a pretty big valuation you put out There 10 million dollars you're after 1.8 million yeah so we've done a really Minimal marketing span so far and sold Seventy thousand dollars worth of Product I personally think that we're About to actually hit Mass Market And where are you from I am a Sydney Born girl um I've been in the States now For almost five years what took you There blind ambition Last year we were nominated by fast Company as one of the most Innovative Companies in Fitness So previously we started in a slightly More risque business risque yes we were Making uh vibrating Underpants the Couples in long-distance relationships Hang on hang on a minute hang on fight Vibrating underwear for couples in long Distance now that is very creative thank You hang on I'm trying to get this

Um it was an insertable piece of a Technology that went into our custom Underwear and you could control each Other from vast distances oh my god wow Hey How did it feel they actually feel Really comfortable yeah all right so I Can feel that there's things in it can You explain the product absolutely let's Connect you to your pulse this is a Pulse it has the battery and the Bluetooth module so it can communicate Back with your smartphone So this clip's just behind your left Knee Okay I I'd love to see how that works I I'm absolutely let's do a demo 100 Um so the this is in fact isn't the Sensor the sensors are woven in through The ankles down here behind the knees And in the hips The pose Library sits within the app and There's 30 poses in the library that you Can learn step by step one by one so I Mean let's just do a warrior okay let's Do that it's a beginner pose and it can Start you off [Music] You're able to Able to yep I can feel it Sweep up your arms while being sure to Engage your back leg Okay so it's vibrating at certain points So what's it trying to tell me it's

Trying to show you where to focus and Activate those muscles yep so what we've Seen in our research is that people are Practicing yoga and they're either doing It really quickly or they're not really Paying attention to what's going on with Their body yep so what you're talking About is not necessarily replacing a Clasp you're talking about the daily Adjustments that maybe only a teacher Would give you exactly fine-tuning I Is that sort of have you sort of Considered that we definitely have so if I did a tripod headstand would that have Any advantage for me let's see that [Music] Do it Wow okay yeah I'm impressed Bloody hell today [Music] Gotta drink a lot of smoothies to do That There are four or five sometimes there Are six steps to move into each pose What the vibrations do is they direct Your attention to what part of the body You should focus on that hurt no then The last step actually reads your body So the senses are all talking to each Other that's when we're detecting Whether you made it into the pose or not How do they make you feel yeah look They're super comfortable and and Interesting you can feel that there's

Things in there but you can't feel that It's on there so no well done yeah and Well done to you oh mate great job today Yeah I'm exhausted just watching you Actually The the only thing I'm trying to Understand about the the product itself Is how it can make you better right now It's very targeted it's someone who Wants to get into yoga not someone who Does yoga absolutely it's beginners and Intermediates right like all people that Do it at home let's have a look at the Numbers let's do it so why and how are We going to justify a 10 million dollar Valuation Doing somewhat conservative projections In the first year we're planning to do 1.6 million dollars in sales and selling 4 000 units Um so we're at 7 million for the year After that Selling up to 12 000 units Billy the 10 million valuation now is Based on the hope of what's going to Happen in the future It's based on this the sophistication of The platform now I got that because at The end of the day no matter how Sophisticated the platform is It's all about return on investment for An investor How many senses are there there are five Sensors that's not many is it

It's actually the most that's on the Market yeah really yeah I have a mild Electronics background Just to let you know so I'm Keen to Understand the science here with Engineering anyway Do you want to go and put a pair on Steve no I don't actually no I don't Want him to either There's a positional element to it so it Knows where your ankle is compared to Your knee and therefore it how does it Know that is that some sort of strain Gauge or is it a measurement thing um Collected enough data on hundreds of Different yogis I just know I just know How the tech works I know intimately how the tech works Right so could could your software tells My legs there or there yes Call rubbish Foreign So what we're doing when it's reading Your body if you make it into the pose Which Janine did perfectly then it says Congratulations you can move on to the Next pose if you didn't make it into the Pose which is how we can tell what your Body is doing bodies are subtly Different right there's no such thing as An average person right so it's there's No such thing as an average limb length Or anything along those lines so do you Have to calibrate it before you start so

You don't need to calibrate it because Of the amount of data that we've Collected oh no There's a technology that allows you to Understand the position of Those sensors It's a software I want to understand machine learning You're using you're driving Square pegs In a round holes right now what you're Saying okay Is there someone else you've got here Who actually understands the tip because You don't at this point in time oh it's A bit harsh I'm surprised that you say that because I no no what I'm saying is what I'm Saying is I'm asking about the Technology fundamentally the technology How does it work We have 99 accuracy every time Uh if you do understand the tech you've Described exceptionally poorly today you Really have So that concerns me a lot I wish you all the best Billy but I'm Done I'm out okay thanks Steve Billy so you you've asked for 1.8 Million dollars for 18 which values at 10 million dollars how will I get my 1.8 Million dollars plus my bump when she Flexed the company to Lululemon We're doing conservative projections for The first few years because we're still Young we're still new but year three is

When we see truly exponential growth and That's when the market honestly it's Already started listening the bigger Brands like your Lulu's and your Nikes Have certainly paid attention to us and They're even saying that 2019 is the Year that this explodes Okay Billy I can tell you where I'm at Um look congratulations I love the Sydney girl made good Um for me you know the valuation says You know risk reward for me is not where I need it to be I wish you well but I'm out thank you You are a very impressive person and the Pitch has been very impressive I Certainly I believe your story and you Are seriously a good entrepreneur You don't have a golf product yet That would have been probably more Appealing to me the yoga just don't Quite understand it and I guess because I don't quite understand the marketplace For this product I just can't invest So unfortunately today I'm out thanks Again good luck thank you So Billy what a wonderful export you are You know I'm really proud that you're Australian and representing us overseas I think that's absolutely fabulous But just saying trust me it works Doesn't quite cut it

So thank you so much for coming but I'm Out I think you know me And then there was Janae Billy God You're you're very impressive and look The yoga industry is massive you're Certainly in the right category I live This world you know I I'm actually only Qualified for one thing in my whole life That's a yoga instructor which is Foreign So yeah so it's my passion and I you Know I live it and love it I think what is really good is that the Vibration on it will actually help People because other people get hinged In yoga because they don't know how to Move it so I think that you're on the Right track that's invested [Music] Because of the ask is 1.8 it's it's and A 10 million valuation when you haven't Actually proven sales just yet I needed to see more proof in sales I'm out Thank you very much appreciate it thanks Billy all the best [Music] Oh well good luck to her I think she Should have stuck with the vibrating Underwear myself that was the that was The killer app that's actually a really Good idea not a bad idea So not getting a deal today isn't going To stop us we're going to keep going and

We're just gonna have to sell a lot of Yoga pants

Your First Funnel Challenge
Quickly Launch Your Idea And Turn It Into A Business That You're Proud Of In Just 90 Minutes A Day!

(This Can Work Even If You Currently Have No Tech Skills, Don't Have A Product, Or Have No Idea What A Funnel Is Yet...!) 

(Challenge Starts Every Monday)

Leave a Comment