When two members of the MuteMe workforce, Parm Dhoot and Tye Davis, appeared on the ABC collection in October 2021, they hoped to safe a $200,000 funding in trade for 10% of their firm. By the point of their look, they’d efficiently raised $154,795 through Kickstarter and one other $289,075 with IndieGoGo. In Could 2021, the inaugural batch of MuteMe was despatched out to over 8,000 consumers. The next month, the product was out there in additional than 1,000 shops throughout the nation. The corporate had been valued at $2 million and appeared to be on the appropriate path. Nevertheless, the “Shark Tank” buyers had considerations regardless of the $2 million valuation the founders gave the corporate.
Investor Mark Cuban felt that the product needs to be given a big social media push and was satisfied that the founders did not know easy methods to correctly promote the gadget to its web following. Fellow Shark Kevin O’Leary shared the same sentiment, believing that the MuteMe had no place in retail shops and will as a substitute be a product offered solely on-line. FUBU mogul Daymond John was the one one to make a suggestion in trade for a 50% stake within the firm, given some revisions he felt that he wanted to make, which have been identified by Peter Jones. He believed that MuteMe being an exterior quieting button was merely not sufficient to make a big effect on this planet of know-how. He additionally expressed concern in regards to the excessive manufacturing price of $11.66 per unit. John was later swayed by his fellow panelists’ considerations and took his supply off the desk.