McSquares Shark Tank Net Worth 2023
Anthony’s appearance on Shark Tank demonstrated the value of his company – a whopping $3 million. After negotiations with Kevin O’Leary, he accepted an offer of $300,000 for 25% equity in the company, thereby valuing it at $1.2 million.
Later, Anthony was able to negotiate additional terms which enabled him to retain 11% equity while still maintaining a valuation of $2.7 million – only slightly less than the initial proposal.
What is mcSquares? Who is the McSquares founder?
McSquares produces magnetic, interactive whiteboards that are ideal for use during meetings. These whiteboards allow participants to jot down their ideas and easily display them for others to see on the wall.
The tablets come with three distinct surfaces: a whiteboard, a chalkboard, and a clear surface, all neatly stacked together.
Anthony Franco, a native of Colorado, is the mastermind behind McSquares. Prior to this, he founded and managed Effective Inc., a company specializing in engineering and design. He later became a mentor at Boomtown Accelerator and an advisor at Suite Pea and Sybil Systems, while also serving as the CEO of McSquares.
McSquares were created by Anthony Franco as an alternative to sticky notes and notepads. His vision was to eliminate the need for costly and wasteful items such as paper and pens during meetings or other tasks. McSquares serve as a substitute for a whiteboard and can be used to jot down notes that can be erased when no longer needed.
The device is reusable and features a magnetic chip or static cling that allows it to be attached to surfaces and remain in place for regular use.
Between 2017 and 2019, Franco raised $65,563 in funding through three Kickstarter projects to finance each new product.
McSquares are gaining popularity among remote workers and homeschoolers due to their versatility and convenience.
All McSquares are manufactured in the United States, specifically in Colorado, and the company plants a tree through Trees for the Future for each product sold. These trees are used to provide food and resources for African family farms.
Anthony Franco has an impressive resume, having created and sold five companies and received numerous awards, including 74 technology awards, 62 design awards, 37 innovation awards, 35 marketing awards, 27 mobile awards, and 24 business awards, as stated on his website.
What happen to McSquares at the Shark Tank Pitch?
Anthony made an appearance on Season 11, Episode 23 of Shark Tank, seeking $300,000 for a 10% share in his company, which has a valuation of $3 million.
To demonstrate how wasteful paper sticky notes can be, he scattered thousands of them on the stage before replacing them with a pack of his dry erase stickies.
Although the company only earned $200,000 in sales last year, it is projected to make $1,000,000 this year, highlighting the potential demand in the market.
While the Sharks were impressed with the company’s sales growth, they felt that MC Squares was not a viable investment for various reasons, such as conflicts of interest or lack of passion. Anthony appeared to be leaving the show without a deal until Kevin O’Leary stepped in with an offer.
Kevin, who has experience in this field, believes that he can contribute to the company’s growth to keep up with the increasing sales demand.
He offered a $300,000 investment in exchange for a 25% stake in MC Squares. Although Anthony initially countered with a 20% equity offer, he ultimately accepted Kevin’s proposal, leading to a deal worth $300,000 for 25% ownership.
mcSquares after the Shark Tank Pitch
As of July 2020, there was no indication that the transaction would be completed, but the company remained operational.
Kevin’s contract was modified to accept 11 percent instead of 25 percent, and mcSquares moved to a 25,000-square-foot facility in Thornton, Colorado.
In 2020, the company experienced a 600 percent growth, partially due to a contract with the Novi School District in Michigan for 6,000 whiteboards for students and teachers.
The company is still raising funds to support their expansion efforts, and they raised over $650,000 through two crowdfunding initiatives on Start Engine and We Funder.
As of July 2021, mcSquares continues to grow and has an annual revenue of $3 million. The CEO of mcSquares finalized the deal with Kevin in July 2021.
In Season 13, Episode 1304, the show provided an update on the company’s progress. Anthony shared how the company moved to a new 25,000 square foot wind-powered facility and has planted over 40,000 trees. Additionally, the company has hired 20 new employees since the episode aired.
mcSquares Net Worth
Anthony appears on Shark Tank in search of $300,000 for a 10% stake in his company. This demonstrates a $3 million.
He accepted an offer from Kevin O’Leary of $300,000 for $25% stake thus valuing it at $1.2 million. The terms were later changed to 11% equity which valuation to be $2.7 million.
Clevertouch, Comiru, 22bate7 and Digedu are some of mcSquares Competitors.
What is mcSquares?
McSquares manufactures magnetic, personal and interactive whiteboards for use in meetings.
When conference attendees have ideas, they can write them on whiteboards and put them on the wall for the rest of the attendants to see.
There are three surfaces on the tablet: a whiteboard, a chalkboard and a clear surface. Which is nicely stacked together.
Who founded mcSquares?
Anthony Franco, a Colorado native, is the founder of this company. He previously created and ran Effective Inc., an engineering and design firm. He then became a mentor at Boomtown Accelerator.
How much was he asking in the Shark Tank?
Anthony requested $300,000 for a 10% stake in his company.
Did he get a deal from the Sharks?
McSquares made a deal with Kevin O’Leary.
How much was the deal?
Kevin offered 25% equity for $300,000 investment in the Company.
Is mcSquares still in business?
What are mcSquares made of?
Neoprene, Nitrile, PVC, EPDM, Chlorinated Polyethylene, Styrene-Butadiene, ECH (Epichlorhydyin), Polyethylene, EVA, ethanol, polyethylene glycol, glycerol, and Acrylic are among the polymeric blends and/or individual polymers used to make M.C. Squares, Bubble Bond, and True Cubes.
Do they offer bulk order educational or corporate discounts
They provide bundles and programs for schools, colleges, businesses, and government agencies. Contact [email protected], and a special package will be created for them.
How to contact them?
They may contact them through website [email protected] or call (303) 551-0112
Where to purchase mcSquares products?
They can purchase them at their online store, mcsquares.com or through Amazon.
Where do they generate revenue?
They get a majority of revenue from the education market but also have a growing business in the conference market, industrial and corporate markets.
Is mcSquares eco-friendly?
They are very eco-friendly and make an effort to use recycled materials in as many of their products as possible.
What are strengths of mcSquares?
mcSquares strengths include, easy to Use, Good Value for Money, Attracts College Students which makes for More Profit.
They are also advantageous because their product can be used in both classrooms and corporate offices.
What are weaknesses of mcSquares?
Their weakness is that competitors offer better value for money and more features at lower prices.
Where is mcSquares headquartered?
They have their headquarters in Thornton, Colorado.
How much money they make each year?
They make yearly sales of $3 million.
Is mcSquares a private or a public Company?
This company is private.
What is mcSquares corporate social responsibility?
Their social responsibility is that they plant trees whenever they sell products and since airing, they have planted a total of 40,000 trees.
Are they employing?
Since the airing on the Shark Tank, mcSquares has hired 20 employees.
What is net worth of Anthony Franco?
There is no update about his net worth.