Da Vinci Eye Shark Tank Episode Update & Net Worth
Da Vinci Eye Shark Tank Episode Update & Net Worth Da Vinci Eye, an augmented reality app that acts as an art projector, appeared on Shark Tank Season 15, Episode 16 seeking $350,000 for 5% equity, valuing the company at $7 million. The app was founded by Samuel Gherman and aims to transform the drawing experience for artists. During his pitch,…
Da Vinci Eye Shark Tank Episode Update & Net Worth
Da Vinci Eye, an augmented reality app that acts as an art projector, appeared on Shark Tank Season 15, Episode 16 seeking $350,000 for 5% equity, valuing the company at $7 million.
The app was founded by Samuel Gherman and aims to transform the drawing experience for artists.
During his pitch, Samuel showcased the app’s features, including:
- Projecting images from a phone onto any surface for tracing and drawing
- Drawing tools, tutorials, and a supportive community
- Mural Maker, an app for creating giant murals using augmented reality
- A unique system for turning images into step-by-step drawing guides
Samuel reported $450,000 in revenue in 2020, $890,000 in 2021, and $860,000 in 2022. In 2023, he changed the business model to a $19.99 per year subscription.
However, the Sharks grew frustrated with Samuel’s indirect responses to their questions about customer acquisition costs and sales projections. Ultimately, no deals were made as the Sharks felt the numbers didn’t add up and the pitch was too confusing.
Although he did not secure a deal, Da Vinci Eye has continued to grow and gain popularity after its appearance on Shark Tank. The app has received numerous downloads and positive reviews, ranking among the top five in its category in over 100 countries.
As of August 2024, Da Vinci Eye is still in business and offers three applications tailored to different creative needs. The app costs $9.99, with an option to upgrade to the “pro” version for $26.99. The company also sells art supplies, phone stands, and other apps like Mural Maker and Doodle Grid.
The estimated net worth of Da Vinci Eye is around $4.43 million as of August 2024, based on its reported sales and a projected 10% yearly growth rate.
What is Da Vinci Eye App? How Does it Work?
The Da Vinci Eye App is an augmented reality (AR) tool designed to assist artists in creating accurate and detailed drawings.
Developed by Samuel Gherman, the app leverages AR technology to project images onto a drawing surface, allowing users to trace and recreate images with a level of precision that is difficult to achieve by freehand alone.
To use the Da Vinci Eye App, users simply place their smartphone over their drawing surface. The app then projects an augmented image onto the surface, which can be traced or used as a reference to create detailed and proportionate drawings. This process makes complex drawings more approachable, even for novice artists.
One of the standout features of the app is its patented system that can transform any image into a step-by-step drawing tutorial. This feature is especially beneficial for those who want to learn or improve their drawing skills, as it breaks down complex images into manageable steps.
Da Vinci Eye App includes a specialized tool called Mural Maker, which allows users to create large-scale murals using a multi-device, augmented reality system.
Whether you’re drawing a simple sketch or a large mural, the Da Vinci Eye App offers a versatile platform that can adapt to various artistic needs. The app’s intuitive interface and innovative features make it a favorite among artists of all levels.
The Da Vinci Eye App entered the spotlight during Shark Tank Season 15, where entrepreneur Samuel Gherman presented his innovative augmented reality app designed to help artists draw with professional precision.
Despite the initial excitement around the pitch, the app’s journey on the show concluded without a deal, but this did not dampen its success. Today, Da Vinci Eye App is thriving, and its net worth is a testament to the potential recognized by millions of users, even if the sharks did not invest.
After the Shark Tank episode aired, Da Vinci Eye App saw a significant boost in visibility and user downloads.
The exposure from the show catapulted the app to new heights, landing it the coveted #1 spot in the “New and Noteworthy” section of the Apple App Store, especially during the launch week of the Apple Vision Pro.
This surge in popularity helped solidify its presence in the market, with customers and artists alike praising its utility.
As of 2024, the Da Vinci Eye App’s net worth is estimated to be in the millions, driven by consistent annual sales and a growing subscriber base. After switching to a subscription model at $19.99 per year, the company saw substantial revenue increases.
In 2023, the company projected sales of $1.1 million, with expectations to reach $1.6 million by the following year.
These figures reflect the app’s strong market position and ongoing appeal among artists seeking to enhance their drawing skills using cutting-edge technology.
Da Vinci Eye App Shark Tank Full Episode; What Happened at Shark Tank Pitch?
During the Shark Tank pitch, Samuel Gherman presented the Da Vinci Eye App with confidence, emphasizing its ability to help users draw like professionals through the use of augmented reality.
He explained how the app works and showcased its capabilities, particularly the step-by-step drawing tutorials and the Mural Maker feature, which can project images onto large surfaces for mural creation.
Gherman entered the tank with a valuation of $7 million, asking for $350,000 in exchange for 5% equity. He detailed the app’s financial success, noting that it had achieved $450,000 in revenue in 2020, $890,000 in 2021, and $860,000 in 2022. He projected sales of $1.1 million for 2023, with expectations to reach $1.6 million in 2024.
However, the pitch did not go as smoothly as Gherman had hoped. The sharks grew frustrated with his indirect answers, especially when discussing financial details and customer acquisition costs. Daymond John was the first to opt out, citing the confusing nature of the pitch.
Lori Greiner and Daniel Lubetzky soon followed, also citing difficulties in understanding the business’s financials. Mark Cuban was concerned about the numbers not adding up, which led him to drop out as well.
Finally, Kevin O’Leary, the last remaining shark, also declined to invest, pointing to flaws in the pitch itself as the reason for his decision.
Despite the disappointment of leaving without a deal, the Da Vinci Eye App gained valuable exposure from its appearance on the show, which would later contribute to its growth and success in the marketplace.
What Happened to Da Vinci Eye App After Shark Tank?
After appearing on Shark Tank, the Da Vinci Eye App experienced a significant increase in visibility and user engagement. Although Samuel Gherman did not secure a deal on the show, the exposure alone provided a substantial boost to his business.
The app saw a surge in downloads, and its presence in the Apple App Store was bolstered by securing the #1 spot in the “New and Noteworthy” section during the launch week of the Apple Vision Pro.
Gherman has since focused on expanding the app’s features and user base. The transition to a subscription model proved successful, as it provided a steady revenue stream and increased the app’s financial stability.
Moreover, the Da Vinci Eye App has continued to receive positive reviews from users, boasting an impressive 4.6-star rating with nearly 5,000 reviews.
In addition to its success in the app marketplace, Da Vinci Eye has expanded its product offerings to include accessories available on its website and through platforms like Amazon.
Gherman has also expressed interest in launching new apps, collaborating with local artists, and partnering with schools to further promote art education using augmented reality.
How Much Is Da Vinci Eye App Worth?
As of 2024, the Da Vinci Eye App is estimated to be worth several million dollars. This valuation is based on its consistent revenue growth, strong user base, and the success of its subscription model.
In 2021, the app generated $890,000 in revenue, followed by $860,000 in 2022. The projected revenue for 2023 was $1.1 million, with expectations to reach $1.6 million in 2024.
The switch to a subscription-based model at $19.99 per year has been a key driver of the app’s financial success. This pricing strategy not only provides consistent revenue but also appeals to a broad user base, making the app accessible to artists at all levels.
Given the app’s strong market presence and ongoing development, its net worth is likely to increase as it continues to attract new users and expand its feature set.
Is Da Vinci Eye App Still in Business?
Yes, the Da Vinci Eye App is very much still in business and continues to thrive in the app marketplace. Since its appearance on Shark Tank, the app has seen steady growth in both user numbers and revenue. The switch to a subscription model has provided a reliable source of income, and the app’s innovative features continue to attract artists looking for advanced tools to enhance their work.
In addition to the main app, Da Vinci Eye has expanded its offerings to include accessories that complement the app’s functionality. These products are available through the app’s website and major online retailers like Amazon, providing additional revenue streams for the company.
The future looks bright for the Da Vinci Eye App, with plans to launch new apps, collaborate with artists, and partner with educational institutions. These initiatives aim to further solidify the app’s position in the market and expand its influence in the world of art and augmented reality.
Which Episode Number was Da Vinci Eye App on Shark Tank?
The Da Vinci Eye App was featured in Episode 16 of Shark Tank Season 15. In this episode, Samuel Gherman presented his app to the sharks, seeking a $350,000 investment in exchange for 5% equity in his company. The episode highlighted the app’s unique features and its potential to revolutionize how artists create their work using augmented reality.
Despite the innovative nature of the app and the promising revenue projections presented by Gherman, the pitch ultimately did not result in an investment from any of the sharks.
However, the appearance on the show provided significant exposure for the app, contributing to its subsequent success in the market.
FAQs
Which shark tank season featured the Da Vinci Eye App?
The Da Vinci Eye App was featured in Season 15 of Shark Tank.
Did Da Vinci Eye App get a deal on Shark Tank?
No, the Da Vinci Eye App did not secure a deal with any of the sharks on Shark Tank.
How much was Da Vinci Eye App asking for on Shark Tank?
Samuel Gherman was asking for $350,000 in exchange for 5% equity in the company.
What is the Da Vinci Eye App’s subscription cost?
The Da Vinci Eye App operates on a subscription model, costing $19.99 per year.
What is the projected revenue for Da Vinci Eye App in 2024?
The projected revenue for Da Vinci Eye App in 2024 is $1.6 million.
