McSquares Shark Tank Update | McSquares after the Shark Tank Pitch
What is mcSquares?
McSquares manufactures magnetic, personal, and interactive whiteboards for use in meetings.
When conference attendees have ideas, they can write them down on whiteboards and put them on the wall for the rest of the attendees to see.
There are three surfaces on the tablets: a whiteboard, a chalkboard, and a clear surface. These surfaces are nicely stacked together.
Who is the McSquares founder?
McSquares are the brainchild of Anthony Franco, a Colorado native. Previously, he started and ran Effective Inc., an engineering and design firm.
He then became a Mentor at Boomtown Accelerator. Anthony is also an advisor at Suite Pea and Sybil Systems, in addition to his mentorship responsibilities. In addition, he serves as the CEO of mcSquares.
mcSquares was invented by Anthony Franco as a substitute for sticky notes and paper pads.
That’s true; his concept stems from a desire to reduce the need for an expensive set of accoutrements to get through meetings or anything else for that matter, such as superfluous and wasteful papers and pens.
McSquares are essentially something like to a whiteboard in a variety of situations. It may be used to scribble down points and then delete the notes after use.
The device is reusable and features a magnetic chip or static cling that allows it to attach to surfaces and even stay on a table for regular usage.
Between 2017 and 2019, Franco financed each new product through three Kickstarter projects that collected a total of $65,563 in funding.
With his goods, he’s gaining popularity among remote workers and home schoolers.
All mcSquares are created in the United States (specifically, Colorado), and the firm plants a tree through Trees for the Future, which grows trees that produce food and other resources for African family farms.
Franco has an amazing résumé.
He’s “created and sold five firms, received 74 technology awards, 62 design awards, 37 innovation awards, 35 marketing awards, 27 mobile awards, and 24 business awards,” according to his website.
What happen to McSquares at the Shark Tank Pitch?
Anthony appears on Shark Tank Season 11 Episode 23 in search of $300,000 for a 10% stake in his company. This demonstrates a $3 million.
He opens his pitch by strewing thousands of paper sticky notes across the stage to demonstrate how wasteful they are. 12,000 sticky notes are replaced with a package of his dry erase stickies.
Although they only made $200,000 in sales last year, they are on target to make $1,000,000 this year, highlighting the market’s need.
Although the Sharks were thrilled with his sales, they thought that MC Squares was not an investible enterprise for them for a number of reasons.
Whether it was due to a conflict of interest or a lack of passion, it appeared like the Anthony would be departing the Shark Tank without a contract until Kevin O’Leary stepped in with an offer.
Because Kevin is currently in this field, he believes he can provide value to the company, particularly when it comes to growing to accommodate sales growth.
Kevin proposed a $300,000 investment in return for a 25% stake in MC Squares. Anthony countered Kevin’s original offer of 20% equity, but ultimately accepted a deal from Kevin “Mr. Wonderful” O’Leary: $300,000 for 25%.
mcSquares after the Shark Tank Pitch
As of July 2020, there is no evidence that this transaction will be completed. The company is still in operation.
Kevin’s contract was altered. Instead of 25 percent, he accepted 11 percent. mcSquares relocated to a 25,000-square-foot facility in Thornton, Colorado.
In 2020, the firm increased 600 percent, thanks in part to a contract with the Novi School District in Michigan for 6,000 whiteboards for both kids and instructors.
They continue to generate funds in order to drive expansion. Over $650,000 was raised through two crowdfunding initiatives, one on Start Engine and one on We Funder.
They are still growing and have an annual revenue of $3 million as of July 2021.
CEO of mcSquares finalizes deal with Kevin as of July 2021.
Season 13, Episode 1304 includes an update feature on the business. Anthony describes how they relocated to the new 25,000 square foot wind-powered structure in the update part.
They’ve planted over 40,000 trees and recruited 20 people since the show 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.