Bundil Shark Tank Net Worth 2023
During the initial pitch on Shark Tank, the Bundil company was valued at $1 million. However, after Kevin O’Leary invested, the company’s valuation dropped significantly to $200,000.
Despite this setback, the company has been able to perform well and generate annual revenue of over $900,000 as of December 2021. This impressive performance clearly shows that the company’s net worth has increased significantly over time.
What is Bundil? Who is the founder of Bundil?
Bundil is a software program that invests leftover change from daily transactions made through credit and debit cards into cryptocurrency, including Bitcoin, automatically.
The app keeps track of spending and rounds up each transaction to the next dollar, investing the difference. Bundil charges a subscription fee of either $3 per month or $24 per year.
Dmitri Love, the founder of Bundil, studied Biochemistry at the University of Arkansas. After sustaining a knee injury while playing soccer and requiring extensive rehabilitation, he taught himself to code and became a software engineer.
He desired to participate in Bitcoin with his family, and while helping his mother with her Bitcoin transactions, he noticed the complexities of the process and was inspired to make suitable modifications.
Bundil believes that people should invest in their preferred cryptocurrency rather than mine it. The software is responsible for managing Bitcoin, Ethereum, Litecoin, and BitcoinCash.
Users can choose how much they want to invest or round up per purchase. For instance, rounding up 50 cents for every transaction three times a day would result in a monthly investment of $45.
Bitcoin is the most well-known cryptocurrency, and it was first introduced in 2009 as a way for people to conduct online business without excessive regulatory intervention.
Despite being worthless initially, it reached an all-time high of $17,549.67 in December of last year, but has since dropped to approximately $6,600.
Bundil charges a monthly fee of approximately $2 for its services. Currently, the software is only available on iPhone, but an Android version is currently in development.
Bundil Shark Tank Pitch
Dmitri Love appeared on the third episode of the tenth season of Shark Tank with his app called Bundil, which rounds up and invests spare change in cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. Love was seeking a $100,000 investment for a 10% stake in his company, which was valued at $1 million.
During his pitch, Love stumbled over his words but the Sharks encouraged him and he used displays to explain how the app works. Bundil charges consumers $3 per month or $24 per year and had soft-launched 60 days prior to the pitch.
Lori was not interested in investing in cryptocurrency and Mark had a conflict of interest, so they both passed on the opportunity.
Daymond was also skeptical of the cryptocurrency market and exited the pitch. Matt believed that the app was too simple to establish a competitor, so he was out.
Kevin offered Love $100,000 for a 50% ownership of the company, which Love accepted. After the show aired, Love and Kevin finalized the deal and the app continued to operate.
As of July 2021, the app had released version 4.0 and had expanded to support hundreds of banks. However, there were at least eight competing applications in the market. Despite this, the company was still operating as of January 2022 and had generated over $900,000 in annual revenue.
Competitors of Bundil
There three primary competitors of Bundil, these are; Coinbase Commerce, Signals and CoinBundle.
Net Worth of Bundil
The company valuation was $1 million during the pitch, after the investment done by Kevin O’ Leary the company valued at $200,000.
Since then the company have been operating with annual revenue of over $900,000 as of December 2021. This shows that the company net worth had increased.
Bundil FAQs
What is Bundil?
Bundil is software that automatically invests a user’s leftover change from everyday transactions (through credit and debit cards) in cryptocurrency, including Bitcoin.
How does Bundil work?
The App inexorably tracks the spending, rounding up each day’s transactions to the next dollar, and then investing the difference.
Who is behind Bundil?
Dmitri Love, the originator of Bundil, studied Biochemistry at the University of Arkansas. Love sustained a knee injury while playing soccer that required extensive rehabilitation.
How much was asking on Shark Tank?
Love was asking for $100,000 for 10% of his company.
Did he get the deal?
Yes, Love accepted a deal of $100,000 for 50% ownership of his business from the Shark Kevin O’ Leary.
Is Bundil still in business?
Yes, Bundil is still in business with annual revenue of over $900,000.
Where can I learn more about Bundil?
Users can learn more about the company on their website located at http://Enjoybundil.com/.
Where is Bundil located?
Bundil is located in San Jose, California.
Is Bundil secure?
Bundil is a secure, simple, and hassle-free method to grow their spare change. It’s time to start investing in Bitcoin in a simple, easy, and enjoyable manner.
How does Bundil work?
Bundil provides users with a variety of cryptocurrency investment alternatives (Bitcoin, Ethereum, and so on). Bundil will start acting like an intuitive app after they’ve locked in those settings. Users perform a POS transaction, and Bundil rounds it up and invests it in their chosen cryptocurrency.
How do you withdraw from Bundil?
Open the Bundle app and select Withdraw. Select the coin from which users wish to withdraw funds. Enter the amount users wish to withdraw.
Select the Withdraw option. Copy the wallet address users want to withdraw to and paste it into the Wallet Address form on Bundle. Users may safely save the wallet address on Bundle for future withdrawals.
Who is Bundil’s target market?
The firm provides services to all existing and future cryptocurrency users who wish to invest spare change in cryptocurrency.
Is Bundil successful?
Bundil’s performance is linked to the success of crypto currencies. Bundil will be in the game as long as people are interested in those digital currencies. However, regardless of the Bitcoin mania, Bundil must always work on client acquisition.
Is Bundil free?
Yes, users can use it for free. However, if users want to invest more than $3 per week or $24 per year then they will be charged a subscription fee of $3 per month or $24 per year.
How do I pay Bundil?
Bundil accepts credit and debit cards.
What are some alternatives to Bundil?
There are numerous investment services available, including Coinbase Commerce. Coinbase Commerce is a startup that offers crypto trading as a service, allowing merchants around the globe to accept Bitcoin, Ethereum, and Litecoin payments on their e-commerce websites with no volatility risk or complicated integrations.
How Bundil does make money?
The Bundil app doesn’t cost a single penny. They make money by charging a monthly fee of roughly $3 for their services.
How can I use Bundil?
Users can use the app on their iPhone or iPads to start investing in Bitcoin, Ethereum, and Litecoin. The initial step is to install the Bundil app onto their device.
Once they’ve signed up, they’ll need to link a credit card or debit card to the program in order to create an account (this will take place securely on the device).
What is the net worth of Dmitri Love?
The net worth of Dmitri Love is unknown.
