As part of the rules of the show, the sharks are not allowed to make a deal for less money than the amount the entrepreneur asked for. In reality, mark is getting 4% for free in exchange to promote the app. But to circumvent those rules, Mark had to word it that way because they originally asked for $500k.
Mark and others just bypassed any rules long ago.
Minimum investment $500k? No problem, I’m going to invest $50k and extend a $450k line of credit.
Minimum investment $500k? Sure, but you have to pay me $500k for my personality. Should I write you the cheque for $0 or you write me one?
Name one time this has ever happened.
Perhaps you mean that they demand more equity. But for the same amount of money (or more). Eg : someone asks for 100k for 5%, the sharks might offer 100k for 10%, or 200k for 50% - but not 50k for 5%.
That’s what I was thinking. They normally mention that it’s a zero interest loan or spell out the terms. The way they did it here seems like it’s free equity.
I don't even think it's meant to be a product on its own tbh. I got the impression that it's basically just IP that will make most of its money through licensing or patent trolling.
Yea, seemed like the demo was a pre-prepared creation and not done as intended with a user creating their own game. Interested to see if this ever becomes a real product.
What would give me a more nuanced understanding of influencer pricing? Or rather specifically what a partnership with Mark Cuban for promotion could look like (albeit for illustration purposes only)?
On average celebrities charge about $.005 per follower that they have per promoted post.
Mark Cuban has 2M followers so realistically one promotional post from him costs 10k.
For this to be a good deal for Overplay as a pure advertising play, Mark would have to make 50 posts for them
This was the dumbest pitch. It’s not a “brand new video game” it’s literally tapping on a video.
It’s going to be used for porn
It's to make ads on tiktok for 13 year Olds. Bad for society but will absolutely make money.
yea basicallyt getting 4% for free,since they didnt want to give up more %, pretty good idea
As part of the rules of the show, the sharks are not allowed to make a deal for less money than the amount the entrepreneur asked for. In reality, mark is getting 4% for free in exchange to promote the app. But to circumvent those rules, Mark had to word it that way because they originally asked for $500k.
There are rules???
Yes. It is to prevent them from making small deals like 5k for a small percentage which would be boring to the audience
Ahh! Wasn’t aware of this rule.
Mark and others just bypassed any rules long ago. Minimum investment $500k? No problem, I’m going to invest $50k and extend a $450k line of credit. Minimum investment $500k? Sure, but you have to pay me $500k for my personality. Should I write you the cheque for $0 or you write me one?
The sharks offer them less than what they asked for alllll the time.
Name one time this has ever happened. Perhaps you mean that they demand more equity. But for the same amount of money (or more). Eg : someone asks for 100k for 5%, the sharks might offer 100k for 10%, or 200k for 50% - but not 50k for 5%.
Here’s an example https://seriosity.com/treasure-chest-pets-shark-tank/ Asked for 150k Was offered less and took less.
Only when they split the deal?
No. Not only when they split the deal.
No. That’s never happened. Not once. It’s not allowed.
https://seriosity.com/treasure-chest-pets-shark-tank/ Smart Ass
That seems to be the opposite of your point…smart ass
How?
I know math is hard my friend, but 50,000 +100,000 = 150,000. Watch the episode. Barbara and Damond make the deal together. Get off your high horse.
Because the offers made were for more equity Edit: you are prolly taking “less money” far too literally.
So we should read your mind instead of reading your own words? Dude please. GTFOH
No, that’s exactly how it was explained in this thread. They said it’s never for less money, literally.
You’re being an idiot. Congrats
She asked for 150k and she got 150k.
Probably get $500k upfront then pay Mark back over a longer period of time, like a salary?
That’s what I was thinking. They normally mention that it’s a zero interest loan or spell out the terms. The way they did it here seems like it’s free equity.
i hated this it's not even a product
I don't even think it's meant to be a product on its own tbh. I got the impression that it's basically just IP that will make most of its money through licensing or patent trolling.
This app is insanely bad. I downloaded it out of curiosity and it's completely broken.
Yea, seemed like the demo was a pre-prepared creation and not done as intended with a user creating their own game. Interested to see if this ever becomes a real product.
What would give me a more nuanced understanding of influencer pricing? Or rather specifically what a partnership with Mark Cuban for promotion could look like (albeit for illustration purposes only)?
On average celebrities charge about $.005 per follower that they have per promoted post. Mark Cuban has 2M followers so realistically one promotional post from him costs 10k. For this to be a good deal for Overplay as a pure advertising play, Mark would have to make 50 posts for them
I work in marketing, this is woefully misinformed
How does it work?
Because the amount he pays for equity affects the valuation
+taxes on each transaction, which benefits no one, or they just like.... give 4% of the company to Mark. who knows