MirMir Shark Tank Net Worth 2023
MirMir Shark Tank Net Worth
Mirmir’s net worth was estimated to be $3.5 million when it appeared on Shark Tank in October 2017. Since then, the company has grown significantly and its estimated net worth is now $12 million.
Mirmir has been featured on TheKnot, a popular wedding website, and has attracted celebrity attention.
The company had netted $4 million in sales in just over three years when it appeared on Shark Tank.
During the show, Robert Herjavec offered to invest $700,000 for a 20% equity stake in Mirmir, but it appears that the deal fell through after the show aired.
What is Mirmir? Who is the founder of MirMir?
MirMir is a photo booth experience that is ideal for large events and boasts a distinctive design, making it a premium choice.
Its popularity has surged in celebrity circles as it has become the go-to photo booth for every Kardashian celebration.
MirMir was founded by Ryan Glenn and Sean Spencer, who met at a Super Bowl party in Dallas, Texas in 2011.
Both of them were running high-end photo booth firms, and they realized that they shared the same corporate clients and the same problem of not having enough resources to grow their companies rapidly.
To address this issue, they merged their businesses to create MirMir, which is the world’s first studio-quality photo booth service.
The photo booths come with two staff members who use excellent lighting to capture images, and the machines are equipped with built-in software that automatically corrects, retouches, applies black-and-white filters, and prints the flawless photos on the spot.
Although MirMir is headquartered in Los Angeles, it provides services in other locations, including New York, San Francisco, Dallas, and Canada.
The cost for using MirMir is quite high, at $2,750 for four hours, but for an additional fee, people can create GIFs and instantly post their photos on social media.
MirMir Shark Tank Pitch
In episode 5 of season 9 of Shark Tank, Ryan and Sean made the decision to pitch their product to the Sharks in order to expand into new markets and gain more popularity. They were seeking $350,000 for a 10% stake in their company, which was valued at $3.5 million.
After explaining their product, the Sharks tested out the booth and enjoyed it. Robert shared his positive experience using the booth at his own wedding, and Mark noted that the company was a hot new brand in the industry.
The company had generated $4 million in revenue over the first three years of operation, with 9 machines in New York and Los Angeles costing $2,750 for a few hours. They also offered an assistant and social media promotion for $3,650.
Each machine cost $22,000 to build, and the entrepreneurs sought investment to acquire more machines for events and fixed locations.
While some Sharks were not interested in the fixed location concept, Robert offered $700,000 for a 20% stake in the company, which Ryan and Sean accepted.
Since appearing on the show, the company has expanded to locations such as Austin, Bangkok, Dallas, London, Montreal, San Francisco, Tokyo, and Toronto, and has partnered with major events such as the Oscars and Golden Globe Awards. The company now generates $4 million in annual revenue.
Competitors of Mirmir
The main competitors of Mirmir include photobooth4u.com, Photobooth Pro, and Photo Booth Hire.
Net Worth of MirMir
The company was valued at $3.5 million during and after the pitch. In 2021 the company has net worth estimated at over $12 million.
Mirmir FAQs
What is Mirmir?
Mirmir is a premium photo booth experience with a distinctive design that is needed for large events.
Who owns Mirmir?
Ryan Glenn and Sean Spencer are the founders of MirMir, they met at a Super Bowl party in Dallas, Texas in 2011, and they were both operating high-end photo booth firms.
How much were asking on Shark Tank?
They were seeking $350,000 for 10% stake of their company.
Did they have the deal?
Yes, they got the deal from Robert.
How much was the deal?
Robert offered them $700,000 for 20% equity shares of the company, but they never completed.
Is MirMir still in business?
Yes it is, their business is doing well.
How many employees?
There are 319 employees at MirMir.
How much is MirMir worth?
The company has net worth estimated at over $12 million in 2021.
How much does it cost?
The fee is a steep $2,750 for four hours. For an additional fee, they will create GIFs and allow people to post their photographs immediately on social media.
How do I contact MirMir?
Customers can email [email protected] or call +1 818 800 0441 (U.S.), +1 514 701 5598 (Canada), +81 80 7682 3636 (Japan), +66 8 6354 5463 (Thailand) and +44 7940 443300 (United Kingdom)
What exactly is a Mirmir photo booth?
Discover the Original Premium Photo Booth. MirMir’s signature style has become a standard at the greatest events from coast to coast, often mimicked but never replicated.
Make their occasion unforgettable by taking images that will be framed, displayed, and treasured for a lifetime.
Do the Kardashian make use of MirMir?
The Glam Booth, which was first popularized by the Kardashian through a firm called MirMir, is a contemporary spin on a typical photo booth photograph.
It’s like applying a Snapchat filter on a high-resolution DSLR picture experience. All of this means they’ll obtain a picture-perfect photo free of flaws.
Is MirMir profitable?
The company has been operating since 2012, and it has revenue of $4 million. It also has 319 employees. The company is profitable.
Is MirMir hiring?
They are hiring for the position of Social Media Manager at its corporate headquarters in Southern California, as well as throughout the United States, Canada, Japan, Thailand, Australia and New Zealand.
Email [email protected] for more information about careers at MirMir or to inquire about job opportunities at any of their global offices.
Do you need to have the best lighting?
To get high quality images, it is always better to be in bright lights. However, since the Glam Booth uses a flash, one can avoid natural light if they so choose and still obtain quality results.
Why are the Kardashian and other celebrities using MirMir?
The Glam Booth, which was first popularized by the Kardashian through a firm called MirMir, is a contemporary spin on a typical photo booth photograph. It’s like applying a Snapchat filter on a high-resolution DSLR picture experience.
What is the net worth of Sean Spencer?
The net worth of Sean Spencer is estimated at over $1.5 million.
What is the net worth of Ryan Glenn?
The net worth of Ryan Glenn is estimated at over $2 million.
