Cycloramic Shark Tank Update 2021 | What Happened to Cycloramic after the Shark Tank?
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What is Cycloramic?
Cycloramic is a website that allows users to view 360-degree panoramic images in a full-screen size.
Cycloramic was founded in December 2012 by “Egos Ventures,” a start-up that is part of the Advanced Technology Development Center in Tech Square, near Georgia Tech.
The panoramic image is made using the iPhone camera and the app is available for free on the Apple App Store.
Cycloramic had an appearance on Shark Tank’s Season 5, Episode 16 on January 31, 2014.
The company landed in one of the largest deals in Shark Tank history ($500,000 for 15% from Mark Cuban and Lori Greiner).
Who is the Founder of Cycloramic?
The founder of the Cycloramic is a man named Bruno Francois.
Francois is 50 years old in 2021 Canadian entrepreneur is the founder of Cycloramic. Francois was born in Montreal, Canada and later moved to France.
What Happened to Cycloramic at Shark Tank pitch?
Francois entered the Shark Tank Asking for $90,000 for 5% equity in his company, valuation for $1.8 million.
Lori Greiner made an offer of $200,000 for a 10% equity stake, raising the valuation to an even $2 million.
Daymond John also makes an offer of $250,000 for 10% adding $500,000 valuation to Cycloramic.
The newest guest also decided to invest on Cycloramic by making an offer of $250,000 for 10% equity.
Mark Cuban enters the fray, offering $1 million in exchange for 30% ownership of the firm.
Daymond John increases his proposal to $300,000 for 10% equity. Steve and Lori make a fresh offer for $250,000.00 and 10% of the company, which they reduce to 5% once they return their initial investment.
As emotions rise in the attempt to finalize this sale, Daymond returns with $350,000 for a 12% interest.
Finally Lori Greiner, Mark Cuban and Francois of the Cycloramic close a deal of $500,000 for 15% equity.
What Happened to Cycloramic after the Shark Tank?
After the investment of Lori Greiner and Mark Cuban of $500,000 offer for 15%, the Cycloramic App Company continues to grow in popularity in Canada and the United States.
Cycloramic is currently available in Apple’s App Store and Google Play in a multitude of countries around the world.
Cycloramic has received over 8 million downloads. Within an hour of Cycloramic Shark Tank premiere, 100,000 fresh downloads poured in.
That implies Cycloramic earned around $200,000 in 60 minutes. Cycloramic and its companion app also rose from obscurity to top positions in the App Store.
Cycloramic finally surpassed more than 20 million downloads in total working as a supporter with Mark Cuban.
Cycloramic Competitors
There are many other companies in the same line of business like Cycloramic. Below is a list of competitor companies.
– 360 cameras (tripod)
– 360 cameras (selfie)
– 360 virtual tour apps which include pictures to go with the tours
– Google Cardboard, HTC Vive, Facebook Camera, Oculus Rift, etc…
Net Worth of Cycloramic
Cycloramic App Company has grows their net from the invested value of $3 million from the Tank.
In June 2017, a group of investors led by Atlanta-based venture capital firm BIP Capital invested $3.5 million in the company.
CNBC contributes more cash to Mark Cuban’s Radical Investments, resulting in a total investment of $700,000 in the Cycloramic App firm.
Francois undoubtedly succeeded in developing a viral app, but it was his ability to shift away from his viral success and into a new product and business strategy that resulted in a $22 million contract.
Cycloramic App company has reach $22 million in equity valuation.
Cycloramic FAQs
What is Cycloramic?
Cycloramic is an app that allows users to view 360-degree panoramic images in a full-screen size.
It an iOS and Windows Phone application that automatically rotates the Apple iPhone and compatible Windows Phone 360 degrees.
Cycloramic app activates the phone’s vibrator at a predetermined (undisclosed) frequency in order to cause the phone to spin around its vertical axis and measure the rotation angle using the gyroscope, compass, and accelerometer while snapping panoramic photographs.
Who is the Founder of Cycloramic?
The founder of the Cycloramic is a man named Bruno Francois.
Francois is 50 years old in 2021 Canadian entrepreneur is the founder of Cycloramic. Francois was born in Montreal, Canada and later moved to France.
Why do they need Sharks?
Cycloramic App Company needs investors in order to grow and expand in sales.
What Happened to Cycloramic at Shark Tank pitch?
Cycloramic entered the Shark Tank Asking for $90,000 for 5% equity in his company, valuation for $1.8 million.
They got a deal from Mark Cuban and Lori Greiner for $500,000 for a 15% equity stake, raising the valuation to an even $3.3 million.
Will there be any after Shark Tank or possible?
Cycloramic returned the additional investment money and would like to return in Shark Tank when they manage to find a new way to promote their app’s sales.
When will they complete this product?
Cycloramic will complete this product when around 20 million downloads around the world completed.
What will happen to the INVESTED amount of money from the Shark Tank?
Cycloramic will return this money from the invested into their business.
Will there be collaboration with Shark Tank?
Cycloramic will most likely collaborate with Mark Cuban again.
When will the app be available for Android?
Cycloramic wants to complete their business with this product before their company expands into other countries.
How do they already know that Mark Cuban is a Shark?
Cycloramic went to Shark Tank with Mark Cuban, other sharks and two other investors.
Doesn’t this app have been around since 2012?
Yes, Cycloramic App has been around just a year before the Shark Tank episode happened.
How did the app get downloaded into iPhones?
The app was available for free through the Apple Store and other online resources.
Why did they go on Shark Tank?
Cycloramic App Company saw the Shark Tank show and decided to try to build a business with this show.
What was their investing plan at the time?
The Cycloramic App Company was looking for $90,000 for 5% offers to grow their business.
Why did they need to go to Shark Tank?
Cycloramic is a company that has difficulty in growing into larger sales prices.
How did they get into Shark Tank?
The producers of Shark Tank contacted Cycloramic and asked whether they wanted to be on the show.
How did the Sharks react to the shark tank?
Lori Greiner, Mark Cuban and Daymond John were all interested in investing in Cycloramic.
What happened after Shark Tank?
Cycloramic came back and was offered $500,000 for 15% of the business.
Cycloramic accepted this deal but wanted to return the investment money as they wanted to earn more from their company.
What happened after the Shark Tank?
Cycloramic App grew in popularity around the world. Cycloramic App has reached 8 million downloads.
The Cycloramic App Company has reached $22 million in equity valuation.
How did this affect the sales of Cycloramic App?
Cycloramic App sold more units after their first Shark Tank episode.
Cycloramic App sold more units after the second season of the Shark Tank.
How did this affect the company?
Cycloramic made more sales because of Shark Tank, thus increasing their business.
What is the net worth of Cycloramic App Company?
Cycloramic App Company has reached $22 million in equity valuation.
Who won the deal?
Lori and Mark won the deal and Cycloramic App was funded by two investors.
What was the deal called?
The name of the deal is “Cycloramic: The Wheel of Invention.”
What does it do?
It helps inventors and people who want to come up with new products and ideas.
Who invented this idea?
Cycloramic App idea came from Francois.
How many things do Cycloramic produce?
Cycloramic App Company made hundreds of items, including the Cycloramic for desktop software, the Cycloramic for mobile software and the Cycloramic Screensaver.
Who is Francois?
Francois is a twenty-four year old from France.
What country did he come from?
Francois is from France.
What was his childhood like?
Francois lived a normal life during his childhood years.
How did he become interested in inventing?
Francois worked for his family’s business and had a passion for the different items he had to invent.
Is it a private or public corporation?
Cycloramic App is a private corporation.
