Mark Cuban can easily be the most-liked judge on Shark Tank. The businessman with his suggestions and ideas always has wise words for budding entrepreneurs. He himself has invested in several innovative projects on show. However, one startup in particular was something that Cuban considers his best investment on the reality show.
The startup was headed by entrepreneur Bruno Francois, and Cuban was so impressed with his product that he not only invested in it. But also dished about the same in a past interview.
A Startup on Shark Tank That Mesmerized Mark Cuban
Mark Cuban has years of experience in the business world and also has a billion-dollar empire to vouch for the same. But apart from this, he has also earned huge respect and love by participating in Shark Tank. While he has said goodbye to the show, there are plenty of instances where entrepreneurs have left the judges completely dumbfounded.
During an appearance on The Ellen Show via Cheat Sheet, even Cuban recalled an investment that he considers his greatest success story. The investment that he was referring to was headed by Bruno Francois and his product Cycloramic. He added:
It was a company called Cycloramic. What they did was, they started off with an iPhone app that made your phone turn to make panoramic pictures
The concept of the product was indeed impressive, but it also capitalized on the growing trend of mobile photography. And that now users can capture wider shots without the hassle of carrying a traditional camera. This happened in the fifth season of the show and Cuban was so impressed that he invested $250,000 in the startup.
It was a successful investment given that soon after the show, the product had a remarkable surge in popularity, all thanks to the “Shark Tank Effect.” Further, the app gathered almost 8 million downloads after the episode. But it wasn’t without its own set of challenges when Apple decided to launch the iPhone 6. Cuban further added in another interview:
Then they changed the way the iPhone looked. He went from having the number one app in the App Store to watching Apple change the iPhone, pushing him to create a completely new business… That’s hard to do.
The startup CEO recognized the threats and shifted to a new model. Now from a consumer-centric app, he moved to a business-to-business model. He also rebranded the company as Car360 to tap the online car sales market.
This immediate thinking not only saved the company from major losses but also opened new opportunities. Following this Car360 was sold for a staggering $22 million marking a huge achievement for Francois.
Mark Cuban’s Worst Deal on Shark Tank
From his garbage bag selling days to being the richest “Shark” on Shark Tank, Cuban has come a long way all because of his hard work. He entered the reality show during its second season and quickly became a fan favorite for his no-nonsense attitude.
Cuban has always been proud of the start-ups he has invested in, but one CEO in particular was so problematic, that the Shark Tank judge described the entire situation as his worst investment ever.
The CEO in question was Charles Michael Yim who brought a Breathometer, a smartphone breathalyzer on the show. Cuban added:
But, the guy — Charles — I’d look at his Instagram and he’d be in Bora Bora … Two weeks later, he’d been in [Las] Vegas partying, and then he’d be on Necker Island with Richard Branson. I’d text him, like ‘What the f*** are you doing? You’re supposed to be working.
Yim definitely angered the Shark Tank judge with his casual attitude. But he also managed to gain a huge investment that only a few have achieved on the show. It was the third time in the show’s history that all of the judges pitched in for a staggering $1 million for a 30% equity. In this Cuban invested the most with $500,000 for 15% equity.
You can watch Shark Tank on Hulu.
