TENSE Negotiation Battle Breaks Out in the Tank | Shark Tank AUS
ฝัง
- เผยแพร่เมื่อ 5 พ.ย. 2019
- On the Go's founder Mick Spencer entered the Tank seeking $300K in return for an equity stake of 30% - Mick's business valuation was unbelievable and at his age of 25, the Sharks did not want to let this opportunity slip away...
Company Website: www.onthegosports.com.au/
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 #OnTheGo #INTENSE - บันเทิง
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“But 10% each is such a beautiful figure”. I DIED 😂
hahahahha...i never expected his answer would be like that. look at her eyes
It just is lol make me 🤤🤤🤤
Lmfaoo 😂😂 she wanted to kill him for that extra 1%
i think it was a wonderful way to talk around and make them think more. Obviously negotiation is important
Me too
Naomi just there for the free wi-fi
Bhahaha
🤣🤣🤣
🤣
By far one of the best pitches on the show.
After Watching Shark USA I noticed a few things..
- Steve's Where are you from mate?
-Jenine's Creepy Smile throughout the show and trying to rob people with her offers(very often!)
-Andrew talking about his US contacts!
-Naomi:the lady in red, that never invests and for that reason she is out!
- Glen : IDK TBH lol!
This sums up this show 100%. American Shark Tank is not as fun as this one. But what I do like is that they are sometimes a bit savage
Steve: Where you from mate?
Fish: Planet Zerg
Steve: Shit. Nice mate. Haven't been there in a long time.
😂
He's smart to ask where someone is from. You can have a general gauge of someone knowing where they grew up.
@@tr7287 isnt steve ex military? Feel like that’d back up him being someone who likes to consider environmental effects of a person.
😂
Literally they almost dropped out over 1% each. They see he's a winner.
Exactly correct!
35% deal was only to acquire a hold on the company. 35% means, the guy would be left with 65% and it seems he had a partner. If the share between the two guys were 50% i.e. 50% of 65% now... which would be 32.5% each. That makes the Sharks to acquire a hold on his business.
The guy accidentally or Idk how he managed to get them at 30%. Now he and his partner can have 35% each at least, and still keep a hold on their company.
@@ackshayshukla I've noticed that also.
@@ackshayshukla Yeah on multiple occasions (usually with Deborah involved) the UK dragons have always purposefully made offers ensuring the entrepreneur kept the largest share whenever there were multiple business partners involved - I think mainly to keep the entrepreneur passionate about their business
@@ackshayshukla that calculation is often wrong. you forget vested stock options, discounts and other incentives for advisory board. vested stock is always around 8-12% for early staff members. so they most likely own less.
I bet all those people who bullied him were a big part in his drive for success what a great revenge of the nerds story.
These days everyone is getting friendly with nerds. i WoNdEr whY
@@nal8503 Because nerds have what it takes to make money.
Another reason why it's justified to bully people tbh
The geeks shall inherit the earth
Andrew: "you are the smartest person in the room" you tell me.
Genie: "that's over valued"
😂😂😂
How the world has changed, they all look thrilled when he says “i dropped out of Uni”..
The older you get the harder it is to change
Yeah, i thought that was funny and true of so many success stories!
it means you got years of experience ahead of the dummies who have their nose stuck in a book and looking at a 9-5 future every time they come up for air.
3:33 steve adds this guy to his database of where people live
lol
He's got a cracked screen on his phone. He needs the offer!
Stanislav Doynovski yeah I noticed that too when he was on the phone lol
Probably saving his money hence hasn't bought a new one.
Time stamp?
Might've dropped it on the way there. He could also be frugal as Roy suggested. Financial pragmatism is a good trait to have when running a business.
So many people have the free spider web app but don’t have that nice Nixon watch 😉
That red women never going to invest
She's the Barabara of AUS Shark Tank. They are poor af and only gamble on safe or partnership with other shark deals.
Her name is Jenny and for that reason she's out ...
Donald Veizi HAHA
Im Outchh
Her money.
An update for anyone who cares: The Sharks never lived up to the deal parameters set by Mick and after 12 months it eventually fell through. Mick's company however has apparently grown by 250% and revenue by 150% so he's still doing well.
Thanks for the info bro
AAAAAActually …. Just checked a website for business reviews and there were massive complaints of bad products , not receiving the products than a few were told the business was in receivership… hope he can bounce back
Might want to check that. His company didn't pass due diligence and we have now seen why with OTG going bankrupt owing a heap of money to staff and creditors.
@@hallesdad a lot can change in a year.
@@Chiows damn so buddy was a fraud?
Naomi is just wasting the time of the show and the celluar data that I use to watch her, in a country like Afghanistan its so expensive for me to watch her on this show.
Comment of the year. lol.
rofl
People like you need to shut up, she has taken some offers isiot
@@secretsilver8962 it's called a joke you melon
@@baccaflocka8568 how do you know it's a joke and not a literal statement
For the update, after this episode the deal did not go through. This entrepreneur and Sharks couldn't come to an agreement. This entrepreneur is still in business
MVP
@BS Handle Created Thats so awesome that he trusted his gut and hes absolutely thriving
that a lie no proof
I knew it because Steve is in the deal. Steve always drop out his investments. I have yet to see an investment he didn’t drop out from. Also I think 30% is too much he should’ve taken 1 on board for 15%.
May be .. Could be.. Would be.. Janine who influenced Steve and Andrew to take back their offer.🤐
Steve: whereabouts are you from mate?
How does that possibly have any relevance?
@@jaybestnz He likes to get a feel for people He might be dealing with, also depending on where you are from, like an affluent area or a poor area, you might have a different view of money
I love him he is a truly Australian
Plasmasloth that’s a bit of a stretch lol... it’s just filler dialogue in every episode LOL
also Steve: but there's companies that succeed without that
He is already a winner defeating all odds in his life from childhood, he came to a position where he can counter offer three sharks. Incredible journey and you are an inspiration. Keep rolling.
that old guy smiling because he's right about his prediction 15% for 3 shark
The fact he could predict exactly what he would ask just made me speechless tbh.
Naomi: I would have to invest with my own money... and for that reason, I’m out.
edit: thanks for 200 yall! highest ive ever gotten!
lol like how else are you to invest money
More like “I can’t use this product with my current gift basket business, and scam you so you don’t make that much while I make a killing, so I’m out
This was hands down the best deal closed to date. This kid has balls of steel to have even made it this far. Dude almost the deal over 1% each but stayed strong. watch him 10 years from now have a 100M company.
Not gone happen company collapsed during the pandemic.
lots of wisdom in this episode, love these guys just dropping little nuggets of good advice everywhere, "I've always firmly believed there are 24 hours in a day" and "5% is 5%" this is just incredible stuff.
no one:
Steve: How old are ya mate?
Quinn Scouller awww where ya from mate? His usually go to hahahaha
This is how every entrepreneur should negotiate with investors...!!!!
Because today is Tuesday, for that reason I'm out.
-Lady in red...
It's a very old episode, anyway fast forward to 2020 (yeah, nearly) and his making over 10m, not too shabby at all
Good for him, guy like that deserves it.
@@bman2cool4u68 On top of that it's without the deal with the Sharks. After the episode was filmed the deal fell through.
@@sexntuna The deal did not get past the due diligence stage. The founder is happy nonetheless as his company grew significantly. Shark Tank also helped the company get recognition in the market and now it has association with Hockey Australia as well. Things worked out well for the owner while retaining the 30% that was otherwise promised on Shark Tank.
@@apachers2807 Jesus everywhere I look there's always fall through on these shows
The numbers on these shows are stupid. Like 1% of applicants go to filming. 75% of filmed pitches see the light of day. 65% get a “deal”. 40% go through diligence phase. Etc. some of these numbers are estimates. But at the end of the day it’s like a fraction of a fraction of a fraction of a fraction that see any profit for the Shark. That said the Sharks in the U.S. have done well. Lori Greiner’s companies recently went over $1 billion in sales. Scrub Daddy alone. Then Squatty Potty and Paint Brush Cover, etc. some hits that cover the losses and more. It’s a numbers game. Lol
When his mom said he had a severe short sightedness I thought she was going to say he is a day trader.
Naomi: I don't actually have any money and for that reason I am out
6:35 “You got a bigger bigger *VISION.”*
He could have gotten Steve for his tech and Aussie biz help + Andrew for biz advise and expanding to the US = 20%
No need for Janine's common sense at 10% 😝
you're undervaluing her.
@@SwikeOne hes over valuing her she always says stuff like "for the place your at now" then gives an insane offer of 2.5x for the same cash and has her team do all the worl
@@alexmaloney8328 wrong he wanted to clap cheeks did you not see the kiss
Steve is filling his address book that he got for Christmas up for the year.
That's one of the most wholesome pitch and deal negotiations I have seen ... the respect for the entrepreneur was visible clear as daylight.
BTW, @Shark Tank Australia, the video description incorrectly lists 30% as the initially offered stake instead of 10%.
Naomi : I am no longer on this mortal plane of existence, therefore I am out.
If i ever see Steve in the street i'll tell him where i live. I think we should all do that just to help him out with his list.
Lmaoo
Janine's look at Steve was like Her eyes gonna blow a laser and cut him in half 😂😂😂
It's actually a smart way of getting multiple people in the same deal, cause they cannot discuss it with each other, and what he needs to do is only make one of them approving it and the other 2 will just follow.
Truly inspirational for all aspiring young entrepreneurs!
I died at the dad "he was bullied badly as a kid because he was the fat kid with glasses" like damn tell us what you really thought like? Lool
You can always tell when they just KNOW when someone’s business is going to take off and know that they have smarts about themselves. That kid stuck to himself and what he believed in and his business. Much respect and well wishes to him/for him. Anybody else would’ve just let them take advantage, especially janine she’s always trying to take advantage of people. I’m glad people like Glen and Steve at least tell those people that Janine is trying to shit them.
Why tf does the shark tank’s theme song (the intense one) sound like cs go’s theme song?!! 🤔
You're not wrong lmao
Good for him. I really wish the best for him and his future!
What a guy. Success is the best revenge for those bullies.
The lady in the red dress, it’s a waste of time to listen to her really... and for that reason, I’m out
Such a feel good episode
When he said fingers crossed 😂😂😂
why's there too much and too loud music geez....
To cover up the rest of the bad content.
I reakon he should have gotten only Steve and not lost so much percentage of his company with 30% he was going for 10% at the start anyways
He still got double the loan though, I think 30 percent is price you pay when you have a good start up business
hollies home kitchen // Yeah, as long as he stills owns a good 60%+ at this stage he’s pretty much golden lmao
I agree with you mate, he has a solid model and a good clientele, it definitely wasn't overvalued at $3M.
@@hollieshomekitchen3936 that's an ignorant comment lol once you give away 30% you can't just get that back, financially giving away 30% in exchange for 600k was a stupid call he could have done 20 for 2 or just 10-15% for one shark and gotten what he needed going for a relatively small amount of cash for such a huge chunk of your company isn't good business sense .. it's a 'loan'
@@tokyodoru Well it's not a loan and he got 3 shares which is WAY better then 1.
did some search, actually the deal didn't workout after the show, but the business thrived it seems
95% service based business, 5% app. Just describes the output of Australia's best.
JC Yu service businesses are where it's at
I feel that in an already successful company like this, getting an experienced businessman (or woman) on board is the priority, not the money or definitely not a higher amount of it.
I would have taken a single person giving away the least percentage possible, or 2 people for 20% - but again, I'm not the one having the successful company, so what do I know
We need this in the states ASAP! Amazing
Jordan Vids Already exists but not at that big of a scale
The music is a bit loud
“At the time, he valued his business at $3 million. Speaking to StartupSmart, he says it’s now valued at 10 to 15 times that, although he declined to reveal an exact figure because of commercial sensitivity.”
one of the best episodes of ST Aus
"Where you from mate"
"Canberra"
"Oof"
Outstanding execution on his part. He knew it wasn't their final offer, but given the question, they'll always say it is to avoid further compromise.
Getting them down from 11% each to 10% each was a risky play, one I wouldn't do myself, but it paid off for him.
This guy knows what he's doing, nailed the meeting, and will go very far. The sharks got a great deal too and will definitely see an impressive return.
Glad he got it, nice guy, worked for what he has.
It didnt go through off camera
@@Obsiidian still successful so far though.
One of the best counter offers I've seen
Steve always gives what the person asks for😂, my man
"you used to wear glasses, and for that reason, im out"
Dude at 25 that's incredible. Look out for this guy he's bringing it strong 😎
Excellent negotiation skills
This show is like getting pre approved for a loan then spending 20 minutes on the phone to get a final answer of no
Steve’s being real while the other 2 are trying to play hard 🤣
Not gonna lie that was pretty badass knowing he was in control
The girl in red is broke, she didn't want to invest on anything
she never does. that dumb bitch
She's actually invested a couple times, but she really only puts an offer out if the company would scale on marketing. Companies that can or already have done well without it don't need her so she usually passes.
She's a multi millionaire around 60 million
If you see a red dress on any of these shows expect them to go out.
@@OswellMusic nope 5 million
600k baby!!!! 🥳🥳
I wanna know who comes up with the Video titles , its a gr8 show but the titles makes me click on it right away . Good one ya mate ✌🏽
This guy seems awesome, glad they reached a deal
Happy for the guy. Congrats.
Always learning a lot from this show.
He fucking called it
In this kind of show there is always a bankrupt person sitting in a chair just to say I an out
This guys calm af! 💯
My god i am so happy for this bloke
nice story... nice app.. good ep.. thanks for the upload..
This company according to several reports, is now value 20M Dollars. This guy had a vision and it seems it worked for him to exploit the billion dollar industry for sure.
Excellent pitch I have ever seen in this season
"Uhmm where are you from mate"🙄😂🤣
This is one of the best Shark, congratulations
What a bloke! What a story! Respect brother! ✌️✌️
that was some REALLY tense stuff, and to see those to rich men had so much respekk for that women running the negotiations, really nice, she must be really powerfull and intelligent
She has mind control powers I guess.
I was so happy for this guy! Nice guys dont always finish last 😉 and he matured nicely didnt he, turned into a handsome young man with a hell of a business and he understands beautiful figures like myself 😁
Janine, "I'd like to make you an offer on fact", translation "I'd like to make you an offer, but I am not a real investor and cannot help you grow your business because of my ignorance and laziness so I cannot mitigate the risk and require you to do everything yourself. So here's some money from when I got lucky but I need to take 99% of your business with 99% royalty on each item sold because of the above reasons, btw, it's a good offer" IRK!
Incredible young man
What a talented guy!
This guy has guts and he is a real good negoitator...he will rock... good luck
...laser death stares to my skull right now. 🤣
No one:
Steve: What's you favorite color?
his fingers aren't the only thing that is crossed lol🤣😂
brilliant guy
Way to go Mick!!!
Congrats on your 3 sharks ;)
So impressive of him for sticking to the 30%. The sharks are called sharks for a reason, he knew that 3% was just a grab. Real impressive businessman here
Dude would make a good South Park character if they drew him as a cartoon.
He is still winning. Great job at such a young age.
I ve never seen the last guy make an offer in Sharktank too
1:40 that's my principal when I enter his chamber without knocking...
Dude has a cracked phone screen. If they had seen that this would've came out different 🤣
Naomi is Barbara. Steve is Mark Cuban. Andrew is kevn o leary and janine is Lori. Perfectly put.
The music is too much.