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Appeared on Shark Tank Season 16, Card.io, is an Austin, Texas, USA-based startup that offers a gamified cardio app. Card.io appeared in Shark Tank USA Season 16 Episode 01. The pitch was presented by founder Destin George Bell. He was there to seek $150K in exchange for 5% equity.
What does Card.io do?
Card.io is an app that features a map that transforms outdoor walking and running into a giant team game. Users can claim territory in their area and city, competing to steal or defend it from other individuals and clubs who are out walking or running.
|
Company |
Card.io |
|
Founder |
Destin George-Bell |
|
Founded in |
2022 |
|
Headquarter |
Austin, Texas, USA |
|
Industry |
Fitness |
|
Sales |
$4K net (at the time of the pitch) |
|
Profitability |
Yes |
|
Valuation |
$1.5 million |
|
Shark on Board |
Rashaun Williams and Daymond John |
|
Asked Investment |
$150,000 for 5% Equity |
|
Raised Investment |
$150,000 for 15% Equity |
|
Website |
https://www.downloadcard.io/ |
Conclusion - Card.io
The founders of Card.io presented a wonderful pitch and shared his business model with Sharks on Shark Tank USA, Season 16 Episode 01. Sharks Lori and Kevin opted out due to a lack of interest in the market and concerns over valuation of the Card.io, Shark Cuban also declined by citing that the app has low chances of success and he lacks expertise in scaling such apps. However, Shark Rashaun was impressed by Destine’s presentation and offered $150K for 15% equity, with mentorship and strategic guidance. After negotiating for 10% equity, Destine ultimately accepted Rashaun and Daymond’s offer and secured the deal with their support.
FAQ
Meet the Sharks: The Panel of Judges on Shark Tank USA
