MuteMe Net Worth
During and after the Shark Tank pitch, MuteMe was valued at $2 million, but since then, the company has continued to operate and has likely experienced growth, which may have increased its net worth beyond the initial valuation.
What is MuteMe and Who is the founder of MuteMe?
MuteMe is a device that has gained significant usefulness in the post-pandemic work-from-home environment due to its straightforward design and idea: an illuminated disk that connects to your computer and mutes your microphone when touched.
Notably, the device’s lights switch to red to indicate that you are muted, giving the user peace of mind and notifying others in the room that you are not available to speak.
The company has five equally competent and educated entrepreneurs, including Parm Dhoot, CEO and co-creator of the product with a bachelor’s degree in business administration.
The other team members are Handeep Dhoot (COO, engineer), Tye Davis (CFO, public relations), Brittany Davis (CMO, entrepreneur), and Pavan Purewal (Lead Software Engineer, BS in Computer Science, and engineer at Ticketmaster and Voyager Space).
MuteMe was founded by Parm Dhoot and Tye Davis, parents with children who had to quickly mute their conference software during the Covid-19 outbreak to block out child sounds while working remotely.
It is a simple button that you place on your desktop and press in response to background sounds. Additionally, it notifies other participants in the virtual conference that you are muting yourself.
The team was efficient and moved from concept to deployed product in less than a year, starting in August 2020. They launched two successful crowdfunding campaigns in January 2021, with their IndieGoGo campaign raising $289,075 and their Kickstarter effort raising an additional $154,756. All orders were fulfilled by July 20, 2021.
The MuteMe button is compatible with all virtual conferencing platforms, but you need to install software on your computer to make the button work correctly with your system microphone. Each button costs $39, and bulk discounts are available for firms ordering 25 or more pieces.
MuteMe Shark Tank pitch
In episode 1302 of Shark Tank, Parm Dhoot and Tye Davis presented MuteMe, their illuminated mute button for online meetings, in hopes of securing funding to scale up their business.
The entrepreneurs requested $200,000 for a 10% stake in their company, which they valued at $2 million. During their pitch, their wives appeared on screen and joined in on the presentation.
The entrepreneurs demonstrated their product and explained that each MuteMe button costs $11.66 to manufacture and is sold for $39.95. They also shared that they had generated $61,000 in web sales and had been in Staples stores for four weeks, but had only sold 150 units.
Mark Cuban expressed concern that they did not have a clear marketing strategy and decided not to invest. Kevin O’Leary also declined, stating that he believed they were “heading to zero.”
Peter Jones offered to invest in the company, but was hesitant about the cost and suggested bringing the price down to less than a dollar. Daymond John offered $200,000 for a 50% stake in the company, citing the amount of work that would be required. Peter later offered to join forces with Daymond, but Kevin declined.
Lori Greiner was the next to decline, and eventually, all of the sharks decided to pass on the opportunity to invest in MuteMe.
The primary competitors of MuteMe in the market space are; Mute Intercom, Razer Seiren Mini and Smart Tab Mute.
Net Worth of MuteMe
The company was valued at $2 million during and after the pitch. Since then the company is still operating and hence the company’s net worth might be more than that of the pitch.
MuteMe FAQs
What is MuteMe?
MuteMe is a device with a straightforward idea and design that has significantly increased its usefulness in the post-pandemic work-from-home environment: The device is an illuminated disk that connects to your computer and, when touched, mutes your microphone.
Who is the founder?
MuteMe was founded by Parm Dhoot and Tye Davis. The co-founders are parents with children who had to quickly mute their conference software in order to block out child sounds while working remotely during the Covid-19 outbreak.
How much were they seeking on Shark Tank?
They were seeking for $200,000 in exchange for a 10% stake in the firm, which valued it at $2 million.
Did they have the deal?
No, they did not have the deal.
Is MuteMe still in business?
MuteMe is still in business as of February 2022.
Where is MuteMe located?
MuteMe is located in San Francisco, CA.
What is MuteMe website?
The website is www.muteme.com. It’s now a live website, offering this product for sale to companies.
What is MuteMe made of?
The button is made up of ABS plastic. The final design largely depended on dozens of iterations that ranged from something closer to a pill bottle cap to a pair of brass knuckles.
Is MuteMe a team-based application?
MuteMe is compatible with Zoom, Teams, WebEx, Skype, Google Meet, and GoToMeeting, among others.
What is the purpose of MuteMe?
MuteMe is an illuminated mute button for virtual calls that promotes productivity, increases confidence, and minimizes interruptions.
The patent-pending gadget detects whether they’re on or off mute by utilizing sophisticated software that communicates with any computer to manage their microphone.
What are the unique features of MuteMe?
MuteMe has a sleek, stylish design that is small enough to fit into any laptop bag, purse, or pocket. The button’s illuminated color matches your computer’s existing light and warns you when the button is on or off mute.
Does MuteMe have a warranty?
Yes, it comes with a limited 1 year warranty. If users find that MuteMe is not working properly, then they may contact the company themself for free repair.
Do you provide worldwide shipping?
Yes, they provide international shipping. International shipping will be charged at the current cost.
Is MuteMe possible to place a bulk order?
Please contact [email protected] for bulk purchases. They will give discounted price for orders of 25 or more items, which will include engraving.
What if I want to engrave a large quantity of items?
They like collaborating with educational institutions, corporations, and small enterprises. MuteMe is an excellent gift for students, clients, and employees (especially to include in a welcome or thank you package).
Please contact them at [email protected]muteme.com if users like to have orders of 25 or more engraved with company logo or content. They can give a price on a case-by-case basis.
How can MuteMe establish a connection to my computer?
MuteMe connects to a USB-A/C connector through a USB-C port on the device (on computer). The purchase price includes a USB-A/C adaptor.
What do I need to install in order for MuteMe to function?
MuteMe needs the installation of the MuteMe software application, which enables users to customize their preferences (like colors, etc.).
Although each company’s policy may differ, users do not need administrative authorization to download MuteMe. If they’re capable of installing local apps like as zoom, downloading MuteMe software should be straightforward.
Which OS systems is MuteMe compatible with?
MuteMe is available for macOS, Windows 10, and Linux.
Their initial prototype is incompatible with ChromeOS, but they are working diligently to resolve this.
What is the net worth of Parm Dhoot?
The net worth of Parm Dhoot is unknown.
What is the net worth of Tye Davis?
The net worth of Tye Davis is estimated at $1.9 million.
