Steve is the same guy who has previously declared himself out due to crowded marketplaces and fierce competition, he’s good at picking and choosing when his statements apply
"Competition is not a reason not to do a business"...My word, the amount of times I've heard sharks say, ""there's too much competition in this space" "this is a hard space to get into"...what space isn't these days? Steve is spot on
The company is still going strong despite the pandemic. They have also listed their product in NZ. The website is also very easy to use so assuming they got their tech guy in the end! They have also got 13 employees however the guy with dreadlocks is also an Uber driver so not sure how much money they’re actually making!
I'm with Steve. His big rule is always have a co-founder that owns and runs the tech side of things. If they are paying someone to write the app for them, that outside entity could decide one, "hey we can do this better and we built the platform." They just take the platform for themselves and these guys are left high and dry.
@@timhuang2501 no no they dont automatically go through. they have to go via another step. "due dilligence" step and at that point the big majority of them are falling www.smartcompany.com.au/entrepreneurs/mk-steve-baxter-reveals-reasons-behind-low-shark-tank-success-rate/
In my pov, Steve Baxter is the most knowledgeable, experienced and greatest mentor of this show. Plus he gives great advice, even if he won't invest, he'll give you some future tips to manage the business better. Plus he speaks straight facts, rather than going around the bush whatsoever.
For those of you watching on a powerful sound system with subwoofer, turn the subwoofer off to make this show more watchable 😊 The sound engineer makes the bass level wayyyy too high!
It's a reality tv show, the producers want conflict and would encourage it. Steve always dishes it back at them anyway and you can normally see him laughing, at the end of the day it's a reality tv show.
@@zackshannon834 which is fair, but the pitch did not suggest there was alot of people book from out of town. Unless I was getting out of town bookings, I would not be paying them their cut.
but its in that window because there is a room to rent by the owners of that room. Its not impossible to book rooms like this in cafes, or pub, you speak to the manager. For me to paying a middle man their cut, they have to provide access to a market I cant, and the market of people already sat in my cafe, I dont need them for.
@@ianlister7333 How many people sitting in your cafe are aware that hiring is an option? There's a lot of overhead in creating and maintaining an online bookings platform, let alone receiving payments online, SEO, managing availabilities, legal receipts, etc. If I, as a customer, have to call and give my credit card number over the phone to make a booking or drive out to the place to speak to the manager, I would look somewhere else. Also, keep in mind that this is a pitch to investors, their pitch towards cafe owners probably starts here: www.spacetoco.com/learn/hosts
Shark tank script: Entrepreneurs: we have an idea Janine: so, I'm out Steve: I need time to think about it. Glen: I have this meaningless offer. And also: fuck you. Naomi: I have this reasonable offer. Andrew: let me consider how shit this is. Entrepreneurs: this is how the business is going. Glen: I'll buy your whole soul Naomi: this is shit, I'm out Andrew: I'll make an offer Steve: I'm still thinking.
That could be said for everyone on the show. In 2017, 50 businesses appeared on the show but only 4 of those businesses actually proceeded with investments after the show.
It was so he wouldn't have the highest stake, which would mean he would run the business and have final say. They had only 87% of the company to start.
I agree. In fact, if I was Air BnB, or Expedia, or Booking, I would be looking at something like this. Either add it to the main website, or create a sub brand.
Do they even realize that they're each left with 19% now and Steve is the largest shareholder at 20%? lol... why did they counter 21% with 20%. Even 19% would have worked in their favour! Honestly man... these guys look like they're from Hangover movie series. 😅👍
you do realise they can share their shares inbetween each other to outpower steve? who says that when the 20% is gonna taken off them its gonna be equal 1:1:1. they can decide one to lose only 2% and the other guys 9% for example leaving one at 27% share
@@manuel1232324 Its actually 30% being taken off from them (20% by Steve and 10% for the new tech cofounder). And generally, one out of them would not want to part with more equity while the other one is holding on to theirs. Most probably it'll be 1:1:1 dilution (thats how cap tables work out in most cases). There's nothing wrong with Steve being the largest shareholder, I'm just wondering if these guys thought this through in the studio? 😋
@@karansarin1986 i know but i was refering to your 20% statement refering to steve. if they rly wouldnt want steve to lead they would need to decide on one big share holder that is not so uncommon given they could arrange a royalty pact or something similar. but why would u not let someone with way more experience lead such a business if you can alrdy hold only a max of 30% and then go on a show like this seeking investment for equity while if they only needed money a loan at a bank is always the better option. so i dont argue that they wouldnt have taken that in mind since having an unsucessful business with big shares is still less profitable than less share/royalty with a sucessful one.
Do American companies not want to expand to other countries too? My favourite is dragons den though, It´s always calm and collected. Shark Tank the American version is only filled with screaming. Everyone is always Talking over each other. They are always trying to ask questions at the same time. Then they get offended when their question wasn´t chosen to be answered first.
Chrome Firefox Australian companies want to go to America more than American ones want to go to Australia. American Shark Tank actually makes deals. Most of the deals on Australia don’t go through. That’s partly why it’s cancelled😂
29% of theirs will get diluted .. Steve 20% , others given up to already: 13%, tech: 10%, Now, each of them will now have 19% left ... Steve’s the Majority holder of this company 😎! He’s their Boss 😂
It depends, if each founders have board seats which means they the right to vote, if Steve says A and the other three says B then the majority of vote will win for sure. But yes, Steve has more equity than the rest lol and it feels like he's the boss lol
Just because you have the most shares doesn't mean you're the boss. It's not like he owns 51%. He can easily get out voted on decisions. Also they can buy out those other 13% investors to gain more shares if needed...but they really won't have to.
@@CaptureKing247 How would they buy out those investors? It seems like they don't have any cash of their own, or they'd have already invested it to keep higher equity in the company. Either that, or they don't really believe in their own evaluation.
Sharks: *long winded discussion/lecture to the guests* Steve: Well I was thinking- Sharks: STFU STEVE JUST MAKE YOUR OFFER QUICK GEEZ WASTING SO MUCH TIME OMGGGGGG Every. Single. Time.
From what I understand about the rules of the show, the sharks are not allowed to offer less money than asked for. They can ask for more equity, but they can't counteroffer with less money.
@@xaviergarza9414 There are a few episodes where the sharks do refer to rules they have to follow. One of the rules is that they can't counteroffer with lower money. This is impactful because it means that even if the business and the sharks find out in the course of a pitch that the business needs less money than originally asked for, the sharks have to go "out" rather than just simply give them the lower amount.
@@matan7899 hello? Once the shark takes 20%, their shares are worth 22% each and that is before they sacrifice 10% for tech co-founder. You are way off. Who owns the other 13% originally they didn't say.
They have an impressive website but their 2 main markets are in Perth and Auckland. In total, they only have about 250 registered sites across Australia and New Zealand, so they haven't made much traction in 3 years.
These companies really need to learn how to make a real valuation based on ACTUAL earnings. Not about "it could be, will be in month year " its about the now where are you at now what am I investing in today 🧐
Do they? They wanted to give up 14% and ended at 20%. I bet Steve know more about that then you and he decided that these ACTUAL earnings were worthy of 1kk $ evaluation.
Yeah, there's nothing like "in 3 years, the equity you bought will finally be worth the same as the money you invested". Telling an investor they'll break even in 3 years (actually a slight loss with inflation) is not a good sales pitch when the valuation is probably what the business will be worth at its peak.
@@EstrellaViajeViajero The valuation of the company is a lot higher today than it was back then. It's all about the risk that the growth can get there and the stability of the market they're in, which city councils are very stable.
He told that there are two reasons deals are not going through. 1st is that numbers those people said in the tank didn’t add up in reality and 2nd is that people back up because they just wanted a publicity
I am disappointed more people refuse to see that Steve Baxter is consistently, regularly an uber jerk in a multitude of different ways & on different levels.. Shoplifter Steve typically welches on almost all the deals he snares weeks later. He finds obscure reasons to renege. Mark Cuban did this so much, they threatened to drop him from the USA Tank, so Cuban stopped this practice.
Either smoking something or using the opportunity on Shark Tank to get free marketing. Either way, they’ve made $3800 and valued the business at $1.5 million 😂
@@fpsjohn111 My understanding was that that condition was accepted; the only change presented by their counteroffer was the lowering of the 21% to 20%. That was enough to leave them bigger shareholders individually than Steve, due to the way the dilution mechanics worked (whereas the reverse would have been true had they accepted Steve's offer), so it was a bigger deal in this specific case than "shaving off 1%" would usually be.
Why the fuck does every website startup that walks into that studio get grilled and palmed of if they don't have a tech guy in the founding team? Naomi Simson (the red dress shark) started Red Balloon days and still runs it and she was merely a blogger.
How do you know if red ballon has a tech guy supporting it who might owe say 2% shares. If u have a tech guy as a shareholder, they get committed to the project and work hard to grow the business. But sometimes when you decide to just employ the tech guy, they can leave you anytime when they have a better offer (wages) somewhere else. If you are running a business that relies largely on technology, trust me you need a tech expert as a co-partner (even if 2%) and watch how they will work hard to make the business grow while staying loyal to the visions and goals of the business
Not gonna lie , the business owners in shark tank au are really bad with numbers . How can you ask for investments when you don’t know your conversion rate or customers acquisition cost . Like how can you know run a business and not know those numbers
They usually make B-roll footage of them taking notes, pretending to intently listen, make a weird expression, etc... and then inject that into the actual pitch to make it look more interesting.
Mmmmm, more like WeLearn, WeVenue, WeEvent, WeMeet, WeCelebrate, WeDance, WeFitness, WeWedding etc.... waaaay more than just work and not located downtown only.
![Noob To Max With DRAGON REWORK In Blox Fruits [FULL MOVIE]](http://i.ytimg.com/vi/LnBMOinoOvA/mqdefault.jpg)
Competition is never a reason to not do a business - Steve is awesome.
Steve is the same guy who has previously declared himself out due to crowded marketplaces and fierce competition, he’s good at picking and choosing when his statements apply
@@TheAbuFulaan Crowded marketplace and competition are two different things.
@@TheAbuFulaan In other words, competition is sometimes--not never--a reason to not do business, therefore his statement is false
@@adambpm no mate , you COMPETE with everyone everyday just to BREATHE....
Yet you SURVIVE....
STEVE is right....🔥
@@treymoe2637 when you apply those terms in business , they mean the same thing m8
"Competition is not a reason not to do a business"...My word, the amount of times I've heard sharks say, ""there's too much competition in this space" "this is a hard space to get into"...what space isn't these days? Steve is spot on
Agree
It's the difference between a competitive market and a saturated one.
I know aye, and they suppose to be the big sharks but they always refer to the competition as a threat and a danger
Well to their credit...I definitely wouldn't want to go into the make-up industry
The company is still going strong despite the pandemic. They have also listed their product in NZ. The website is also very easy to use so assuming they got their tech guy in the end! They have also got 13 employees however the guy with dreadlocks is also an Uber driver so not sure how much money they’re actually making!
:) how do you know that?
Karimco Australia which part?
Andrew Knight the guy is still Uber driver 😁?
Him being an Uber driver may not mean they aren't making good money. People often still do that as a side hustle.
Sarah Anderson yer I see that, but if you’re turning over millions as a co founder you’re not going to do 8 hours in a Prius for $90
Competition is never a reason to not to do a BUSINESS .....!
Steve YOU earned RESPECT ....
help us manage our exponential growth of 185 transactions of $3k revenue in the past year.
I can double your revenue in one year.
Exponential 😂😂😂😂😂😂
Bruh
What is that like less than $3 revenue a transaction??
I'm with Steve. His big rule is always have a co-founder that owns and runs the tech side of things. If they are paying someone to write the app for them, that outside entity could decide one, "hey we can do this better and we built the platform." They just take the platform for themselves and these guys are left high and dry.
Ever heard of non-competition agreement?
@@07Blackbeard lol exactly, by this logic the consulting companies can put every other company out of business
Steve is the only person ever investing ffs
Liverpool won the premier league.
no hes not. only a fraction of his deals on the show go through to actual deals
numi numful facts
numi numful nah they go through don’t they? He just gets paid back and gets free equity....
@@timhuang2501 no no they dont automatically go through. they have to go via another step. "due dilligence" step and at that point the big majority of them are falling www.smartcompany.com.au/entrepreneurs/mk-steve-baxter-reveals-reasons-behind-low-shark-tank-success-rate/
I asked my wife to get creamy peanut-butter and she got crunchy so for that reason I’m out.
Smart move. Creamy peanut butter... c'mon!
That's because you're not satisfying her in bed.
P C you’re right, I should probably stop using all my energy on your mom.
that is grounds for divorce my Man
🤣🤣🤣🤣
Steve is right. You can’t have a tech company without a stakeholder that owns/knows tech. That’s the quickest way to fail.
Helpful Hint:
Watch the show before going on!
Hence, knowing the questions the Sharks typically ask.
Duh.
You would think that's common sense but no such thing as common sense because it's no longer common.
This is the real life version of dumb dumb and dumber.
Super aggressive counter offer... These boys need to reign it in a bit, the hoodlums!
I love seeing all these businesses come in, with outrageous valuations lol. $3800 in sales, but 1.5mill valuation. Be sensible for once lol
"Good luck working with Steve"
Lol as far as what I've read, he's by far the shark with the most profitable businesses as of now.
Correct. However in 2017, Steve didn’t pay out a single investment he made on the show that entire year.
More holes than Swiss cheese, but the right shark to get the job done.
Naomi is officially the Barbara of the Australian Shark Tank 🦈
In my pov, Steve Baxter is the most knowledgeable, experienced and greatest mentor of this show. Plus he gives great advice, even if he won't invest, he'll give you some future tips to manage the business better. Plus he speaks straight facts, rather than going around the bush whatsoever.
For those of you watching on a powerful sound system with subwoofer, turn the subwoofer off to make this show more watchable 😊 The sound engineer makes the bass level wayyyy too high!
I think the others can't deal with Steve's down to earth heart! they are always ganging up against him ... very annoying.
It's a reality tv show, the producers want conflict and would encourage it. Steve always dishes it back at them anyway and you can normally see him laughing, at the end of the day it's a reality tv show.
I love how Steve always hang shit on the vet 🤣
Yeah but Glen is the richest there
why does a cafe, need a 3rd party to book their garden space? if all that 3rd party does it put an advert in the cafe window?
Because their space can be viewed by people that don't know or frequent that Cafe.
@@zackshannon834 which is fair, but the pitch did not suggest there was alot of people book from out of town. Unless I was getting out of town bookings, I would not be paying them their cut.
@@ianlister7333 the adverts on the cafe windows are promoting the website not any particular space.
but its in that window because there is a room to rent by the owners of that room. Its not impossible to book rooms like this in cafes, or pub, you speak to the manager. For me to paying a middle man their cut, they have to provide access to a market I cant, and the market of people already sat in my cafe, I dont need them for.
@@ianlister7333 How many people sitting in your cafe are aware that hiring is an option? There's a lot of overhead in creating and maintaining an online bookings platform, let alone receiving payments online, SEO, managing availabilities, legal receipts, etc. If I, as a customer, have to call and give my credit card number over the phone to make a booking or drive out to the place to speak to the manager, I would look somewhere else. Also, keep in mind that this is a pitch to investors, their pitch towards cafe owners probably starts here: www.spacetoco.com/learn/hosts
Shark tank script:
Entrepreneurs: we have an idea
Janine: so, I'm out
Steve: I need time to think about it.
Glen: I have this meaningless offer. And also: fuck you.
Naomi: I have this reasonable offer.
Andrew: let me consider how shit this is.
Entrepreneurs: this is how the business is going.
Glen: I'll buy your whole soul
Naomi: this is shit, I'm out
Andrew: I'll make an offer
Steve: I'm still thinking.
I think you're mixing Janine with Naomi
11:07 DID HE JUST SAY WHAT GRANDMA'S SAYING ? 😂😂😂
What Glen was saying..
Steve is the one that always investing in this show lol
Fun Fact: In 2017 Steve didn’t pay out a single deal he made on the show.
Why not go to Touker Souleiman? He has office space available!
😂😂😂
Naomi knows stuff and seems like she understands business, but she never invests.
She’s all talk
she's very niche, she typically invests into thing she thinks would be popular gifting items that she could boost with Red Balloon
That could be said for everyone on the show. In 2017, 50 businesses appeared on the show but only 4 of those businesses actually proceeded with investments after the show.
all that pal talk just to counter 21% with 20%? Loooool
It wasn't that funny, but yes, I agree. They took so long to make a counter offer of 1% less.
It was so he wouldn't have the highest stake, which would mean he would run the business and have final say. They had only 87% of the company to start.
@@wishtheworldwasdifferent8235 Having 21% of a business doesn't give anyone, in their own right, a final say, even if others have less than he does.
Barbara: "I'm not on this show so, for that reason I'm out."
does anyone know which episode is where Andrew says "i make all the important decisions but my wife tells me what is important"
Hex pegs. That's the name of the company in which Andrew says that right before the guy walks out to talk to his wife.
middle guy is an Australian Festival loving Bradley Cooper
Hahah that’s one way to describe me ;)
@Devon Holmes that's for me to know only :)
@@danielfranco85 Seems like the kind of guy that would go camping every other weekend to "unwind" from society, whilst blasting triple J...
@@danielfranco85 Am I right that we may not hear the end of this particular remark?
I think this may need to be my new Linkedin tagline.
I wasn't really paying attention during the pitch and for that reason I'm out, good luck to you mate .
This is basically Australia’s WeWork but with three Adam Neumann
lol ... totally
...and a little bit less dodgy than him. Well a lot actually.
@@danielfranco85 Are those dreadlocks maintained on company time?
@@mrfrase3 I certainly hope not...
@@mrfrase3 you don't get to look this good without stealing a bit of company time
i felt this business model could easily be taken over by a bigger company like airbnb. very similar
I agree. In fact, if I was Air BnB, or Expedia, or Booking, I would be looking at something like this. Either add it to the main website, or create a sub brand.
Do they even realize that they're each left with 19% now and Steve is the largest shareholder at 20%?
lol... why did they counter 21% with 20%. Even 19% would have worked in their favour!
Honestly man... these guys look like they're from Hangover movie series. 😅👍
you do realise they can share their shares inbetween each other to outpower steve? who says that when the 20% is gonna taken off them its gonna be equal 1:1:1. they can decide one to lose only 2% and the other guys 9% for example leaving one at 27% share
@@manuel1232324 Its actually 30% being taken off from them (20% by Steve and 10% for the new tech cofounder). And generally, one out of them would not want to part with more equity while the other one is holding on to theirs. Most probably it'll be 1:1:1 dilution (thats how cap tables work out in most cases). There's nothing wrong with Steve being the largest shareholder, I'm just wondering if these guys thought this through in the studio? 😋
@@karansarin1986 i know but i was refering to your 20% statement refering to steve. if they rly wouldnt want steve to lead they would need to decide on one big share holder that is not so uncommon given they could arrange a royalty pact or something similar. but why would u not let someone with way more experience lead such a business if you can alrdy hold only a max of 30% and then go on a show like this seeking investment for equity while if they only needed money a loan at a bank is always the better option. so i dont argue that they wouldnt have taken that in mind since having an unsucessful business with big shares is still less profitable than less share/royalty with a sucessful one.
So if we look like the Hangover movie series - who is the short fat one? 😂😂
@@danielfranco85 there's still that tech cofounder to be found right? thats what the movie would be about 🤪like hangover 1
Steve is actually my favourite he's hard but real an fare
Shark Tank Australia: Knockoff American companies who want to expand to America😂
Do American companies not want to expand to other countries too? My favourite is dragons den though, It´s always calm and collected. Shark Tank the American version is only filled with screaming. Everyone is always Talking over each other. They are always trying to ask questions at the same time. Then they get offended when their question wasn´t chosen to be answered first.
Chrome Firefox Australian companies want to go to America more than American ones want to go to Australia. American Shark Tank actually makes deals. Most of the deals on Australia don’t go through. That’s partly why it’s cancelled😂
29% of theirs will get diluted .. Steve 20% , others given up to already: 13%, tech: 10%, Now, each of them will now have 19% left ... Steve’s the Majority holder of this company 😎! He’s their Boss 😂
It depends, if each founders have board seats which means they the right to vote, if Steve says A and the other three says B then the majority of vote will win for sure. But yes, Steve has more equity than the rest lol and it feels like he's the boss lol
So there’s not just these 3 people??? + Steve
So they’ got some silent partners perhaps?
Just because you have the most shares doesn't mean you're the boss. It's not like he owns 51%. He can easily get out voted on decisions. Also they can buy out those other 13% investors to gain more shares if needed...but they really won't have to.
@@CaptureKing247 How would they buy out those investors? It seems like they don't have any cash of their own, or they'd have already invested it to keep higher equity in the company. Either that, or they don't really believe in their own evaluation.
That's not how majority holding works...
FINALLY HE'S IN!
Sharks: *long winded discussion/lecture to the guests*
Steve: Well I was thinking-
Sharks: STFU STEVE JUST MAKE YOUR OFFER QUICK GEEZ WASTING SO MUCH TIME OMGGGGGG
Every. Single. Time.
Steve should have countered w/200,000.
From what I understand about the rules of the show, the sharks are not allowed to offer less money than asked for. They can ask for more equity, but they can't counteroffer with less money.
@Ryan Stallard i really didnt know there was rules
@@xaviergarza9414 There are a few episodes where the sharks do refer to rules they have to follow. One of the rules is that they can't counteroffer with lower money. This is impactful because it means that even if the business and the sharks find out in the course of a pitch that the business needs less money than originally asked for, the sharks have to go "out" rather than just simply give them the lower amount.
@@EstrellaViajeViajero Wow that is a very stupid rule
1:18 this guy reminds me of Stuart Bloom
Am I missing something here ? Steve offered 21% and their counter was 20!!??? I mean wtf 🤔🤔
@Boxtapephonemobile their share was 29%
@@matan7899 hello? Once the shark takes 20%, their shares are worth 22% each and that is before they sacrifice 10% for tech co-founder. You are way off. Who owns the other 13% originally they didn't say.
They must have said the word "spice" dozens of times, but otherwise nothing in the entire video had anything to do with spice. So strange.
Love shark tank Australia!
so many people with very cool ideas :)
The kitty litter comment 😂😂
the sound effects in this episode are way too high
Thank you for making me conscious
This is the sort of air B&B should have taken also.
A good day of fishing.... They held their nerve and rescued their pitch just in time...
What’s the space being used for? Poetry reading,Car club ? I don’t get it:)
Anything and everything; could be a poetry reading, yes.
3:30 The guy in the middle saying spaces sounds like spices..
Yes. I was confused. Their pronounciation of space is spice
Should’ve been 20k for 100%😂
They have an impressive website but their 2 main markets are in Perth and Auckland. In total, they only have about 250 registered sites across Australia and New Zealand, so they haven't made much traction in 3 years.
We've got 130 spaces across NZ and over 1000 in Aus - so a little more than 250 :)
@@ellebell477 When I did a search of Sydney, Brisbane and Melbourne, very few sites came up. You must have a lot in Perth.
So Steve what's the first thing I should do to get to your level of understanding about finances in Australia??
Did it fall thru after backstage??
the music in the avengers end game was less dramatic than here
6:29 realky ripping into these guys
Wow really nice negotiation!
How those businesses get evaluated?
shouldn't it be space to go and not space to co?
Where would the space Go if it was spacetoGo?
Checkout the backstory here: www.spacetoco.com/about
He did this so he can out buy the 10 from tech and have full control anyway
Competition is never the reason not to do business- 1million worth
Unreal smile is awarded to NAOMI.HEHEHE
Naomi had some good sharp questions here, it really exposed them
These companies really need to learn how to make a real valuation based on ACTUAL earnings. Not about "it could be, will be in month year " its about the now where are you at now what am I investing in today 🧐
Do they? They wanted to give up 14% and ended at 20%. I bet Steve know more about that then you and he decided that these ACTUAL earnings were worthy of 1kk $ evaluation.
Yeah, there's nothing like "in 3 years, the equity you bought will finally be worth the same as the money you invested". Telling an investor they'll break even in 3 years (actually a slight loss with inflation) is not a good sales pitch when the valuation is probably what the business will be worth at its peak.
@@EstrellaViajeViajero As i said before. I'm pretty sure Steve know his business better then you.
@@EstrellaViajeViajero The valuation of the company is a lot higher today than it was back then. It's all about the risk that the growth can get there and the stability of the market they're in, which city councils are very stable.
They value their business at A$ 1.4 million
You can’t do math. Cause it’s 1.5
Talk about terrible timing. The real estate market is going to implode 🤣
Haha. Right you are!
I'm ready to buy once it does 👍
@@eduardoramon5737 buy digital Real estate 😉
@@danielp28 I bought an apartment in GTA V. Does that count?
You do realise all these episodes are a few yrs old. Shark tank australia stopped filming in 2018 😂
How many others heard him say doo-doo?
He definitely did!
You guys do know Steve backs out of almost 99% of deals he does right? As well as this one.
He told that there are two reasons deals are not going through. 1st is that numbers those people said in the tank didn’t add up in reality and 2nd is that people back up because they just wanted a publicity
I kept hearing Spice Owners!
Um, but what about booking.com
i love a happy ending
that's why you need bootstraping as long as you can. because investor sometimes kill your dream earlier
Touker : "I have office spaces in London"
Barbara called , saying she's out just In case they were thinking about going to the US
I do not want sit at home, for that reason....
I am out!
Steve is the only real straight shooter in this show.
Daniel is my friends dad lol, he was also my sub pe teacher
I thought they were saying spices lol
Don't know why they all are so critical for steve's offer each time he makes one when They all make greedy offers with no risk 🥴🤔
I am disappointed more people refuse to see that Steve Baxter is consistently, regularly an uber jerk in a multitude of different ways & on different levels.. Shoplifter Steve typically welches on almost all the deals he snares weeks later. He finds obscure reasons to renege. Mark Cuban did this so much, they threatened to drop him from the USA Tank, so Cuban stopped this practice.
Easy but smart idea!
I thought when they countered to 20% that they were joking
The word SPACE they pronounced it spice.hehehe
Giggling over an accent... they are Australian what did you expect?😒🙄
These guys have a good start why dont they run it themselves.
Either smoking something or using the opportunity on Shark Tank to get free marketing. Either way, they’ve made $3800 and valued the business at $1.5 million 😂
Smoking something probably.
And that wasn't even profit, it was revenue.
I'm the only one who wear the red dress in this room and for that reason I'm out.hahaha
If mo Salah had a pony tail
Love it india
Did they really counter offer for 1% of Steve's offer? What lmfao??
Countered offered with 20%, but no extra 10+ to take in another guy.
@@fpsjohn111 My understanding was that that condition was accepted; the only change presented by their counteroffer was the lowering of the 21% to 20%. That was enough to leave them bigger shareholders individually than Steve, due to the way the dilution mechanics worked (whereas the reverse would have been true had they accepted Steve's offer), so it was a bigger deal in this specific case than "shaving off 1%" would usually be.
Why the fuck does every website startup that walks into that studio get grilled and palmed of if they don't have a tech guy in the founding team? Naomi Simson (the red dress shark) started Red Balloon days and still runs it and she was merely a blogger.
Good point
How do you know if red ballon has a tech guy supporting it who might owe say 2% shares. If u have a tech guy as a shareholder, they get committed to the project and work hard to grow the business. But sometimes when you decide to just employ the tech guy, they can leave you anytime when they have a better offer (wages) somewhere else. If you are running a business that relies largely on technology, trust me you need a tech expert as a co-partner (even if 2%) and watch how they will work hard to make the business grow while staying loyal to the visions and goals of the business
Not gonna lie , the business owners in shark tank au are really bad with numbers . How can you ask for investments when you don’t know your conversion rate or customers acquisition cost .
Like how can you know run a business and not know those numbers
Wow steves second investment
Ahhh! The sharks pretending to write while listening to the pitch. Smh
They actually write notes.. Smh
They can't pretend that lol they often repeat what they say.
They usually make B-roll footage of them taking notes, pretending to intently listen, make a weird expression, etc... and then inject that into the actual pitch to make it look more interesting.
Plot twist:
while Steve accepted the 20% he forgot about the 10% for the techie which they didn't include🤯
I think they did include it
@BS Handle Created Really? I know that Naomi didn't invest a penny into anything after the show, but I wasn't aware that Steve didn't either
The bigger the ego, the bigger the evaluation, it seems
This reminds me of the We Movement.
Mmmmm, more like WeLearn, WeVenue, WeEvent, WeMeet, WeCelebrate, WeDance, WeFitness, WeWedding etc.... waaaay more than just work and not located downtown only.
@@jeremyhurst6460 Agreed.
@@jeremyhurst6460 SpacetoWe though might get misconstrued
@@ellebell477 what about SpacetoWeeeeeeeeeeeeeeeeeeeee
@@ellebell477 ha ha for sure!
This is like an episode from Silicone Valley.
They fucked up trustin the kid with dreads. He probly told the other 2 he could be the tech guy and tried to fake it till he made it lmfao
Naomi was not having a bar of it.
I've watched all of the dragons den clips on youtube so I've came here to get my fix, I'm not disappointed. The US one on the other hand can gtfo
Who's here reading comment while watching a video?