Entrepreneur Wants $300K for 4% And REFUSES To Budge | Shark Tank AUS
ฝัง
- เผยแพร่เมื่อ 21 ส.ค. 2024
- Will Davies & Dave Trumbull entered the Tank seeking $300K in return for a 4% equity stake. 'Car Next Door' allows users to rent a car by the hour or by the day, with fuel and insurance included; with rentals going for as little $5 an hour, who wouldn't want to invest? 🦈
Company Website: www.carnextdoo...
An international sensation, Shark Tank AUS features entrepreneurs pitching for investment in the Tank from our Sharks, five venture capitalists willing to invest their own money in exchange for equity.
As Seen On Shark Tank Australia Products: amzn.to/2ZJBbyf
Shark Tank US Products Collection: amzn.to/3bMNjmI
#SharkTank #CarNextDoor #NoNegotiations
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The Australian shark tank is really polite. They don't disrespect the entrepreneurs And they all stand up when someone gets a deal. Refreshing to see the encouragement they give them.
I am from the US and I like the Australia Shark Tank better!😊
@@kathleensilva2414 Yes i am not from the US but i like it more than the us one as well.
Australian people are nicer than US people yeah
They're nicer, they certainly disrespect people from time to time though. I wish they did it more often
Steve has been saving alot of money for this pitch and he didnt even asked where they are from 😂
Probably got edited out
Lol
Looool
A lot*
@Kas Gikes take it easy bro 😂
Steve Baxter made a killing by investing 300k for 4%. Hyundai invested 6.2 million dollars in the company few months back. This company is now worth at least 30 million dollars. 4% equals 1.2 million dollars, so investment multiplied 4 times already. It'll only go up from here
it's not that straightforward calculation. all shareholders must have been diluted in each round and they have gone through 9 funding rounds in total, so at least 6 rounds post this shark tank investment.
Besides dilution (Which may or may not have happened...) And besides Cash Flow...
Shareholders only get money when dividends are paid, and when they exit. Furthermore, you also have to count the fact that they have to wait for their money, which means you have to do PV and FV.
Interesting idea. But why would anyone want to attach something like that to their car. It needs to be more discreet.
It's also important to note this comment about "Dumb money". Sharks HATE spending dumb money. (Even Mr. Wonderful.) You don't spend money unless you know you're getting it back...and can HELP get it back. Otherwise, it's just a gamble. At the same times, a Shark's time is valuable.
Like, $100,000 for 30 hours? That's 30 hours they could spend instead making $1,000,000...
@@XiagraBalls There are people who could open that box in less than 10 seconds.
Proof that MS Paint still has some use in the graphic design industry.
😂😂
This is actually one of the first times that I've seen Steve accept such a low stake in a business, this business idea is very good.
I've seen them around Sydney, if I found 300k under my mattress I'd invest in them
That's the first time across all the shows where I saw a shark go in at what was asked, in such a high valuation.
If the valuation is accurate, then 4% will yield nice returns.
@@MarceloVeronezzi Well there are similar concepts to this one across europe, and they work great. I do not want it for one ride like an uber, I want to rent a car for some time, it can be a few hours or a day or two...
Mar Celo u can say what u want but Steve actually says it’s his best investment in 4 years of shark tank
@@MarceloVeronezzi perimeter dashcams/get a tesla
They should really hire a graphic designer, their logo is awful.
lego are calling their copyright infringement department
I agree! It's shit!
@VideZoniX ! Great description!
It is a little average.
But in the marketing world it works.
Why.
Because it,s annoying to look at.
So people remember it.
That is point of it.
@VideZoniX !
Your right about that.
It does not matter.
Most people would just think your into Lego.
All is good until you hear "This is the Lockpickinglawyer, and today we have a lock used by Car Next Door..."
This!
Well that could be for any car lock, right? LOL.
I need someone to send one of their locks to him!
@@fitybux4664 well this lock opens up to a highly encrypted key that just hands you the use of the whole car lol.
legit, and then theres just the idea of breaking the lockbox not just picking it
"she got her no face on", well boi that's her trademark
only mug she got
I’d love to see her “O” face
I think that is just her face. She has resting no face.
Never realized how short Steve was until he stood up to shake their hands lol
He looked Hella chunky too likt he had a fat man costume underneath
I was tbinking that too, when he shook the taller guys hand! lol
He really needs to shake hands with Peter Jones
The sound engineer is just having the best time
Steve casually spending 300k like it's nothing lol
Gahan Todd he just wants to find out where they’re from
Lil Benz shut the fuck up
Lil Benz
Gay comment.
actually he invested it
$300k is nothing to those who knows how to make money buddy. Good friend of mine makes $250k every week.
According to Steve, monetarily speaking, this has been his best investment on Shark Tank
It's gonna suck when someone figures out how to quickly break into those locks.
As long as they make it more difficult than hot wiring a car nobody will bother.
depends on whether they are in a shithole country or not.
Battery angle grinder won’t have a problem
I mean rent the car out once then whilst you have the key make a copy..
This is what insurance covers guys...
55 employees, 9 rounds of funding, impressive growth. This company exploded, the sharks really missed out..
What do you mean? Steve took the offer
@@coastaku1954 Probably did not put money. Making an offer on the show vs actually investing are very different things.
Just got sold to uber i reckon he got a very good return
@@andrewvarghese2119 according to an article ( that I would totally link if TH-cam didn't delete any comments with links) Baxter got a share in the pie so he did get a win.
I have used Car Next Door. Amazing service and company.
I love that steve straight up says, if I’m investing this much here, I’m already going to be committing blood sweat and tears (time), with you, to push forward your business, don’t bother with the option. And theres times where he’s straight up said, i just want money out of this business not going to do much. I respect him and would love to have him as a partner with his frankness and pure straight forward honesty.
Jenny: I've just realised I'm on the wrong show so for that reason I'm out.
🤣🤣🤣🤣🤣🤣🤣 never thought I see a Jenny pisstake comment on here greetings from Wales UK where are you from
@@Ryanjoned163 I'm From India, Much Love :)
@@tennoboi655 RIGHT back at you in from wales UK my friend
@@Ryanjoned163 May Your Days Be Filled With Love And Peace. Have a Great Day!
@@tennoboi655 thank you may the Grace of our Lord Jesus Christ to be with you
This is my favorite pitch from the Aussie Shark Tank so far. Dudes are writing options as a bonus to flex their financial aptitude while standing firm on their valuation because they know what theyre worth. Love these guys and love that the producers allowed an episode that respected the audiences intelligence.
Damn maybe I should move to another country and make a startup that’s already been made in the U.S
The Australian market is extremely hard to get into cause we primarily but Australian owned and made, it's the reason so many hugh companies have failed in our market like Carl's Jr, Taco Bell, Wall-Mart, Burger King, you have to be an extreme juggernaut to get in here like McDonald's
W.T.C 1990 it’s cultural differences you have to adhere to
@dirkyboy Either your a joke joking, or are being a completely unnecessary asshole. Either way, you should stop spreading your misery onto others.
@@WTC-1990 wait youre telling me McDonald's is bigger than wallmart? Really?
@@23352408akash in the Australian market yes where as Wallmart is non existent in our market
8:50 "I'm Good" i was like allright , everyone starts applauding , WTF?
One of the best presentations I've seen so far. Well thought out, they had a plan and knew what they were doing and had counter offers in mind already.
Steve has stopped asking his signature question, ‘where ya from mate?” For this reason, I’M OUT!
'The Lock Picking Lawyer' and 'Bosnian Bill' have entered the chat...
2:57 "we need to have all the city covered" camera cuts to steve :D "which cities exactly mate?" hahaha
These guys were genuine, and Steve was able to see that in them.
Surely if someone can be 'seen through' that means they are not genuine?
the tessellater yeah Karen you boomer
@@fraserernie9411 Changed it. 🙃 booyah!
Uber just acquired this company so these guys probably made many millions of dolla
When Steve didn't start off with "where you blokes from?" We knew he was serious. Meanwhile, Jenny says " wait! I'm out!".
This version is so different to the UK's Dragons Den. Unless it was edited out, they barely discussed how many other share-holders there are and at what percentage etc..... I can't imagine Peter Jones chucking £300k at them without going over all that "I'm worth so much more" gubbins.
I’m sure they ask a lot of those questions after the show.
For me this was one of the best presentations. Clean and very clear.
"The platform is currently valued at more than $13 million and has the backing of Caltex and high-profile tech entrepreneur Steve Baxter, who took a stake in the company during an episode of Channel 10’s Shark Tank."
The text is from 2017, seems like it was worth it.
Now it's valued even more with total 8+million dollars investment from Hyundai alone. Should be 30$million
@@MarceloVeronezzi Super easy, you build a step in the app that allows you to take pictures of the exterior and check them in BEFORE you get the keys.
@@MarceloVeronezzi What do you think happens when you rent a car from Hertz and you don't have photos from before you drove it proving no damage? You'll get charged for the damage...same here. The renter proves the damage was there beforehand or they take the blame. Yes, it'll be a pain point and it'll add to their operating costs, but it'll be no different to any other rental company that is already super successful.
Most people can't afford to sue a business, that'd end up costing $15k at least and the cost for the excess on the insurance would only be a few thousand at most.
Also...GoGet and similar car sharing business have existed for ages and have the exact same problems. These are just problems, not business killers.
Turo is better
I don't know many people who'd want to share their car with a stranger.
There's a large market in the US with turo
I've used probably about 10 different cars, 7 of them were people who just had an extra car and 3 of them were people who owned dozens of cars and rented em out
Ha, i remember when people said that about air bnb or uber. People were like who would want to get a ride from a stranger or stay at a strangers house....look at thoes companies now.
Tesla with smart driving tech intend to let owners make profit during work hours etc to taxi there car while not in use. I think this would be the alternative option for non self driving cars. Tbh I think its a great idea with the right legal papers when crime/accidents happen.
@@MarceloVeronezzi this pitch was a few years ago. Car Next Door is a very successful business now. I am a user. There is literally hundreds of cars within walking distance of my house that I can rent. You have to upload photos of the car from all angles, inside and out, before you take the car and then after it is returned. They also include comprehensive car insurance in case of accidents
I DO know lots of people who'd want extra money for nothing though
Will's accent is so strong he almost sounds like he's mocking Australians.
That's the first time across all the shows where I saw a shark go in at what was asked, in such a high valuation.
Seems like Naomi is there just for the cheering in the end.
This show is so loving and friendly compared to Dragon’s Den. lol.
It surprises me how simple businesses like this can do so well. I guess Australia didn't have anything like this and it was easier to corner the market.
You also have to think, at least where I'm from, that insurance doesn't cover the person driving your car unless you add them to your insurance, so this kind of model wouldn't work here. Things are obviously different in Australia. And what about damages caused by the people borrowing the vehicle. You'd have to do a photographic walk around after each rental if you wanted to prove someone put a dent/scratch in your car. And what about someone driving it hard or negligently and causing the vehicle damage internally that may not show until a later date, how do you prove who did the damage? You'd need an onboard computer/ODB to track the cars health during each use.
Bottom line, I would never enter my vehicle in a program like this. And I pray for those that have.
Hahaha shes got her NO face on lmfao. Andrew: oh so you've been watching hahaha
That presentation was better than any I’ve ever seen here in the UK on Dragons Den.
I agree
That keypad on the car really dont look practical.
You can take it off once you're inside the car, it just sits hooked into the window.
@@dandingerat oh, ok. It may be an old video? Cuz using ur smartphone to unlock the car is a bit more user friendly.
@@MB-ey6vv Wouldn't that be easier to hack than breaking open the keypad (likely triggering a warning to the company's/client's database)?
its definitely a target for vandals, and curious hoons.
@@HornsoftheStagg No.
Immediate concern: Who's on the hook if the car crashes? How can you possibly get insurance for this? Why did no one ask?
It seems like a nightmare that will end in disaster. I would never let a stranger take my car. This would never work in the US. The cars would go straight over the border.
@@Philip550c it would and it does. Ever hear of Turo? these companies have existed for years and this is another knock off
@@michaelkhleb I have heard of turo. Last time I checked it was mainly for cars the average person can't afford and costs $100s a day. Is it for average cars now?
@@Philip550c do you mean like GetAround ?......
@@Philip550c anyone can list their car on turo. they have pretty much everything
That lock box is terrible. In Canada we use a card with an embedded chip which we tap on the windshield. Search Zipcar Canada.
They barely even talked about the product. The sharks were just out out out and that was it.
like always. fuckers
The clips are edited u peanut. If they showed the entire pitch we would be bored to death by Steve finding out where everyone is from
If you google it, They have like 40 minute pitches and the show just edits it to the best parts for TV. So there was probably a lot we didn't see in terms of talking about the product.
@@ethank5681 legend!
yeap they re edited... i think it takes about 1hour each pitch
I have never seen Steve say "I am good" so easily!
One of the best counter offers I've heard
Considering Hyundai has invested near on 7 million dollars now and a further 1.2 million was done after shark tank it's fair to say that his 4% will be quite valuable in the future. A brilliant deal for both sides
I had the same idea that I presented for a school project were we had to introduce our start-up and now 2 years later its reality. There goas my idea lol
- The real play here is.. They will need more money down the road.. The ones that get in early will sell there shares for multiple times more. That's how these types of business work.. Pretty much buy shit and sell it to someone else who wants to buy shit to sell it to someone else ...and it repeats. :)
lol..this is how business investment works..All the time we are out of this because you need hold at-least 1 million to invest any new companies..For example,Netflix share price was $0.05 cents with 25% bonus for investors then came to public as $1.20 cents..
@@saran99945 - your comment is vague and not readily understandable
Well this business isn't shit any more, if you been keeping up to date... 🤑
As a car owner I say no to people driving my car which can lead to wear and tear that will end up costing me a ton. Plus people can easily abuse your car plus accidents which I’m sure there insurance but who wants to deal with that hassle? Sometimes it’s just not worth renting out your belongings.
Your exactly right, I had my Car on CarNextDoor and everything you just said happened to me, its not worth it
That lock box sitting against the window glass gives me anxiety. Seems like a stiff wind would make it break the window.
The guy on the right looks like Matthew Hayden
I'm surprised no one asked about responsibility for accidents nor how to ensure the person driving is a valid license holder. very bizarre
This has been existing for years in my country, we call it SnappCar, but it is way more modern than this concept. We open the cars with a app and the keys are in the glovebox, as soon as you sign up your car will be loaded up with security and gps. Its not even comparable to this concept.
Yeah they have this in USA too called “turo” interesting...
Shoutout to Steve. He's the only fucking one who makes deals lmaoo
I think I've seen something similar in either Shark Tank or Dragons Den but it was exclusively when someone leaves their car and goes away for holidays
Yeah it was on this show
@Kevin You Woah. I had no idea. Such a shame. The idea wasn't bad at all. I would definitely become a customer If I had a chance to. Are you aware of any other companies who tried to replicate the idea?
We have one in Malaysia operating for over two years i believe
@@Plotkara2013 - This is more expensive than normal car hire !
@Anthony Smith - we're talking about car sharing, not food!
No way somebody is going to drive my car ,what about speeding tickets, parking scrapes, paint dints, engine probs, transmission issues when not used correctly. Madness
CapDown have you guys heard of Turo? It’s an American company with over 350,000 cars listed. So yes it does have to potential to work. If something does happen to the car then Turo will have it covered with their insurance. Also the renter usually has to leave a deposit incase something does happen. Pictures are taken before and after being rented.
I have a mate that loans his car, they cover the full insurance whilst been rented. Nothing to worry about.
Im not sure exactly how the charges work but he said its either per day or km depending.
@@iConformed - you may not be able to see this working - but it is !
Steve may sound tough and mean but he is a humble man. See the Gand shakes he did, no arrogance but humbleness and respect
naomi: and for that reason I'm out🤣always
so were going to act like they didnt steal the business model from TURO in usa lol
or Getaround
the concept exists in Europe since about 2008 as well
The idea itself is not new, for sure, but not every successful business needs to 're-invent the wheel' . In fact most business ideas are not innovative, just clever.
I remember using something more advanced with a keycard system in Berlin in 2015
Guest Shark from Home and Away: Alf Stewart "Im not investing in this flamin mongrels idea, bloody sheilas!"
Last man standing Steve, unbelievably agreed to the deal, someone else came on the Sharks with a very similar pitch and explained that they were going to get their cars to rent from people parking their cars while they were on holiday, the sharks just pretended that they did not know what they were talking about and turned them down flat,at least they would have had some prior knowledge of exactly when the cars would be available to rent.
Renting from them costs a lot more than renting from a normal car rental company and it's flooded with scam insurance claims.
I see these videos just to listen to some cool Australian accent
I’ll be making a clone of this in the US
you know steve was overwhelmed he didn't even ask where they are from
David Trumble’s son was my best friend in the first year of primary school, but then he moved away 😢
just realised Ive watched all the episodes on this channel and now Im sad
Steve Baxter named this as his best investment on shark tank
deodenum I thought his best investment was the where ya from mate 2000 computer entertainment system?
hahahaha this is the first time I've seen Steve get up and shake hands hahahahahahah is he a hobbit!?!?!?!?
Best pitch ever.
How about 50% and i give you a place rent free for 12 Months
No one made a counter offer how wouldn't they budge
Bobbin Weaving 7:50
They made it clear from the start there was no negotiation on the evaluation
Imagine driving with a lock box on your window next to your head.
@3:40 I love how Andrew’s eyes light up
"These people should back out " in Steve's mind 😂
Australian shark tank - “ i’m out “
Americas shark tank - “i’m in”
Ex4 Ghost makes zero sense L
Curtis Warren because on some episodes they say they are out, then come back in
@@user-gg1fn4so3s lol no thats not what the original poster meant
Just watch americas shark tank ...they are always so in 😂
The presentation is what won them the prize, didn't even crack under the pressure.
i want to see one of these Entrepreneurs walk over to a shark and grab the book out their hands and be like "what you writing" while reading what they wrote.
Yes u own a red dress yes I never invest and for that reason I'm out
Wonder how much cheaper this is than just renting a car....?
From what I can see, it is far more expensive!
Here in the UK, you can hire a car for £40 a day, plus fuel.
9:13 “should we hold hands?” 😂😂😂
ever heard of zipcar? these dudes really attached a lockbox on the window, key outside for the taking..lmfao. theyre proud and patented too
So basically they created Turo?
Yeah, but it looks like they cut out the owner having to meet the person
CarNextDooe is massively successful now. Dang Steve has good instincts!
Immediate concern, I ran over someone with a car I rented via car next door with fake credentials of course, hid the body in the trunk, dumped it in the desert, returned it to the owner; who is responsible?
And if I just crash the car, who is responsible?, I used the cars I rented via car next door to traffic dem drugs, who's responsible?
The lawsuits alone would bankrupt the company, I hope there are some strict security measures put in place
Steven is a very very smart man... Im sure he is very happy today 😂🤓🤑
In the states, there's an app that is similar, but we unlock the car with our app.
Need that in UK. Could set it up and not need the Dragons.
Australia is always behind when it comes to technology
Yeah but the app lock boxes sometimes run out of battery and sucks royally
@@OakApplegardens - standard car hire is much cheaper !
@@MrRedsjack - you'd get thrown into the dungeon for that!
That's actually a great idea. I hope this will go well!
This was like 6 years ago. Its doing extremely well
@@MarceloVeronezzi look at their website. It seems their business going really well
@@MarceloVeronezzi lol do some research . The company is fucking killing it. Would be worth close to $100 million
Regan O'Brien 30 million
Entrepreneur: Hi
Lady in Red: I am out
Not the first time Steve's paid 300k for traction.
Does anyone know how the company is doing now?
@James Wood why do you keep saying 'Arsestralian'?
Seren_ dipitous He must live in Australia, the keyboard flipped upside down.
All very well off by now, maybe millionaires, good luck to them.
Tbh I feel like the Australia sharks don’t really go in when it’s over a 3mill evaluation and like kinda find outs imo
There is getaraound or turo here in US
Who the hell would lend there vehicle out to some stranger
I've watched so many episodes now and naomi never ever made an offer or said sth helpful. Get her out already, omg
Bought out by Uber 😔
Sharks was all out when they heard 4%
Very proud to work for these guys
Jenny called from “Dragon’s Den UK” to say she’s out.
Not gonna lie, I wish they had this service in the UK.
turo
Wow...turned out to be super successful
They know they have something good that’s why & they’re right