Bot-It Shark Tank Episode 3 (S15 E3) Update & Net Worth

Bot-It Shark Tank Episode 3 (S15 E3) Update & Net Worth

Bot-It, an innovative automation software designed to streamline daily online tasks, made its debut on Season 15, Episode 3 of Shark Tank. Entrepreneurs Joel Griffith and Maurice Bachelor entered the tank seeking $150,000 for 10% equity in their company.

Their product, Bot-It, allows users to automate repetitive tasks like scheduling appointments, managing tickets, and making reservations, all without needing technical expertise.

The pitch intrigued the sharks, particularly Mark Cuban and Michael Rubin, who eventually teamed up to offer $300,000 for 30% equity. This deal marked a significant milestone for the company, which had only been operational for three months before their Shark Tank appearance. Despite their short time in business, Bot-It had already generated $30,000 in sales from over 350 subscribers.

Since the episode aired on October 13, 2023, Bot-It has seen a surge in interest and subscriptions. The company’s estimated net worth has grown to $1 million, reflecting its potential in the rapidly expanding automation market. With the backing of two influential sharks, Bot-It is well-positioned to continue its upward trajectory.

What is Bot-It? How Does it Work?

Bot-It is an automation software designed to simplify and enhance the efficiency of various online tasks. Users can create customized bots to handle activities such as booking appointments, managing event tickets, securing golf tee times, and more. The software is built to be user-friendly, requiring no technical skills to set up and operate.

The process is straightforward: after subscribing to one of Bot-It’s plans, users can select from a range of bots tailored to specific tasks.

For instance, if you frequently struggle to book reservations at popular restaurants or purchase tickets for in-demand events, Bot-It can automate the process. The bot will continuously attempt to secure a reservation or ticket, ensuring that you don’t miss out.

Bot-It operates on a subscription model, offering different plans to suit various needs. The Standard Monthly Plan costs $9.99 per month and provides access to up to five bots. The Pro Yearly Plan is priced at $99.99 per year, offering access to ten bots. For users requiring more robust automation capabilities, the Elite Plan provides unlimited bot access.

The software’s ability to automate such tasks can be a game-changer for busy individuals, small businesses, or anyone looking to save time and increase efficiency. By handling repetitive and time-consuming activities, Bot-It frees users to focus on more important aspects of their personal or professional lives.

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Bot-It Shark Tank Episode S15 E3: What Happened at Shark Tank Pitch?

During their Shark Tank pitch, Joel Griffith and Maurice Bachelor explained the concept and benefits of Bot-It to the sharks. They were seeking $150,000 for 10% equity, valuing their company at $1.5 million.

 The pitch highlighted how Bot-It leverages Artificial Intelligence to automate various online tasks, making it easier for users to manage their daily schedules and responsibilities.

The founders revealed that Bot-It had only been in operation for three months but had already generated $30,000 in sales from 350 subscribers. The subscription model offered customers different levels of service, with pricing tiers ranging from $9.99 per month to $99.99 per year.

Michael Rubin, a guest shark known for his work with Fanatics, showed immediate interest. He recognized the potential of Bot-It in a world where bots are increasingly used to secure scarce online resources, such as concert tickets and exclusive product drops.

 However, Rubin also acknowledged the ethical concerns surrounding the use of bots, which can sometimes create unfair advantages in online purchasing scenarios.

Mark Cuban also saw potential in Bot-It and decided to make an offer. He initially proposed $150,000 for 20% equity, but the founders countered with $300,000 for 20% equity. After some back-and-forth negotiations, Cuban and Rubin teamed up to offer $300,000 for 30% equity, which the founders eventually accepted.

Bot-It Shark Tank Pitch Summary

What Happened to Bot-It After Shark Tank?

Following their appearance on Shark Tank, Bot-It experienced a significant boost in visibility and subscriptions. The exposure from the show brought in a surge of new users, with over 60 new subscriptions within 48 hours of the episode airing.

The company’s official website and app were quickly redesigned to accommodate the increased traffic, and the pricing structure was updated to reflect new subscription options.

The deal with Mark Cuban and Michael Rubin went through, and both investors have been actively involved in helping Bot-It grow.

Cuban’s expertise in scaling tech companies has been instrumental in expanding Bot-It’s sales channels, while Rubin has leveraged his connections in the e-commerce world to introduce Bot-It to a broader audience, including his Fanatics team.

The founders, Joel Griffith and Maurice Bachelor, have been busy adding new features to the software, responding to customer feedback, and refining their marketing strategies. The company continues to gain traction in the automation market, with plans to introduce even more sophisticated bots to handle a wider range of tasks.

How Much Is Bot-It Worth?

As of the latest update, Bot-It is estimated to have a net worth of $1 million. This valuation is based on the company’s early success, the deal with Mark Cuban and Michael Rubin, and the rapidly growing market for automation tools.

Before appearing on Shark Tank, Bot-It had already made $30,000 in sales from its subscription model. With the additional capital and mentorship from their new investors, the company’s valuation has likely increased.

 Bot-It is well-positioned to continue its growth trajectory, especially as more individuals and businesses seek to automate routine tasks.

Is Bot-It Still in Business?

Yes, Bot-It is still in business and thriving. The company continues to operate out of its headquarters in Los Angeles, California, and has expanded its offerings since appearing on Shark Tank. Their automation software is available through various subscription plans, catering to both individuals and businesses looking to streamline their online activities.

The partnership with Mark Cuban and Michael Rubin has provided Bot-It with the resources and guidance needed to scale effectively. The company’s user base is steadily growing, and they remain committed to enhancing their software to meet the evolving needs of their customers.

Bot-It is also exploring new markets and applications for their bots, aiming to become a leader in the automation software industry. With continued innovation and strategic partnerships, Bot-It is on track for sustained success.

Which Episode & Season Number Was Bot-It on Shark Tank?

Bot-It was featured in Season 15, Episode 3 of Shark Tank. The episode aired on October 13, 2023, and showcased the company’s automation software designed to handle various online tasks. The pitch led to a successful deal with Mark Cuban and Michael Rubin, who offered $300,000 for 30% equity.

The appearance on Shark Tank provided Bot-It with significant exposure, helping to boost their brand recognition and customer base. The partnership with Cuban and Rubin has since played a crucial role in the company’s ongoing growth and development.

FAQs

Who are the founders of Bot-It?
The founders of Bot-It are Joel Griffith and Maurice Bachelor. Maurice started the company in 2019, and Joel joined in 2023.

What does Bot-It do?
Bot-It is an automation software that allows users to create bots for handling tasks like scheduling appointments, managing tickets, and making reservations.

How much did Bot-It ask for on Shark Tank?
The founders asked for $150,000 for 10% equity in Bot-It during their Shark Tank pitch.