On Friday's episode of ABC's Shark Tank, Maurice Bachelor and Joel Griffith pitched their company Bot-It to the judges. Their LA-based company, Bot-It, is a website and a mobile application that uses AI to help people automate various online tasks. Such tasks can range anywhere from booking appointments to making reservations at a restaurant. The company's founder Bachelor explained that a “pro subscription” can also be used to jump the line for sneaker release draws, or even get concert tickets in “seconds.”
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The pitch drew the interests of Mark Cuban and Michael Rubin as Bot-It gives its users an edge against large-scale bot operations. Rubin remarked, “This is a real issue,” adding, “We have probably billions of dollars of products that bots try to buy from us each year,” as per CNBC. Kevin O'Leary then noted, “What does it say about us if we're supporting this, for those that think you're cheating?” Griffith, Bot-It's founding partner and head of growth said, “We want to help change the perception of bots amongst consumers,” adding, “Bots aren't always the bad guy. You can have one, too.”
Bachelor and Griffith initially asked for $150,000 for a 10% equity stake. However, Cuban offered first with an ask for 20% equity for $150,000 while Rubin valued the company higher than Cuban’s offer, and proposed $50,000 for 15% equity. Upon hearing the two offers, O'Leary said, “It's a Shark fight. It's the battle of the billionaires.” Bot-It founders persuaded the two judges to club their offer and make a joint deal.
{{/usCountry}}Bachelor and Griffith initially asked for $150,000 for a 10% equity stake. However, Cuban offered first with an ask for 20% equity for $150,000 while Rubin valued the company higher than Cuban’s offer, and proposed $50,000 for 15% equity. Upon hearing the two offers, O'Leary said, “It's a Shark fight. It's the battle of the billionaires.” Bot-It founders persuaded the two judges to club their offer and make a joint deal.
{{/usCountry}}Cuban and Rubin complied and offered $300,000 for 30% equity, to which, the founders agreed after some hesitation. Towards the end, Bachelor said, “This is the most important day of the Bot-It life. To have both of those Sharks on our team right now is going to take us to the next level.”
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