“Done playing games” — When Shark Tank investor Mark Cuban gave a “sweet deal” to Cycloramic

Bruno Francois pitched Cycloramic on Shark Tank season 5, seeking $90,000 for 5% equity. The app used the iPhone's gyroscope and vibration for hands-free panoramic photos. With 660,000 downloads at $0.99 and $175,000 in revenue, multiple Sharks showed interest.

Lori Greiner offered $200,000 for 10%. Daymond John raised stakes to $250,000 for 10%. Kevin O'Leary proposed $90,000 for a 15% royalty. Steve Tisch partnered with Greiner, offering $250,000 for 10%. As offers multiplied, Mark Cuban interrupted:

"You done playing games with these guys Bruno? I'm going to offer you $1 million for 30%. That's more than a $3 million valuation. It's a sweet deal Bruno."

The negotiation ended with a $500,000 investment from Cuban and Greiner for 15% equity. Francois later developed Car360. By 2018, Carvana acquired the evolved company Car360 for $22 million.

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Mark Cuban offers million-dollar deal to Cycloramic on Shark Tank

The Shark Tank pitch began with Francois placing an iPhone on its edge, demonstrating how the app made the device spin independently while capturing photos. Each Shark received a practical demonstration of the technology. The patent protection and existing sales figures sparked immediate interest. At a $1.8 million valuation, several Sharks saw the potential for significant returns.

Lori Greiner made the first move, offering $200,000 for 10% equity. Her product marketing and retail distribution background aligned with the app's mass-market appeal.

Daymond John followed with a higher bid of $250,000 for the same equity percentage. The competition intensified when Kevin O'Leary proposed an alternative structure of $90,000 with a 15% royalty agreement focused solely on app revenue.

Shark Tank investor Mark Cuban stepped in. He announced, "done playing games," putting forward $1 million for 30% equity. This offer valued the company above $3 million, marking a significant increase from the initial valuation. Cuban's tech background and previous success with mobile applications added weight to his proposition.

Steve Tisch attempted to counter by partnering with Lori Greiner, suggesting their combined networks could boost the app's market presence. They structured an offer of $250,000 for 10%, promising to reduce their equity to 5% after recovering the investment. The multiple offers created a complex negotiation environment, with each Shark Tank investor attempting to secure their position through different financial arrangements and strategic partnerships.

The negotiations shifted when Bruno Francois asked if Lori Greiner would consider partnering with Mark Cuban. Greiner immediately agreed to split the investment equally with Cuban, dissolving her partnership with Steve Tisch.

This strategic move combined Cuban's tech expertise with Greiner's retail and marketing strengths. The remaining Sharks - Daymond John, Kevin O'Leary, and Steve Tisch tried forming a counter group but struggled to finalize terms.

Francois maintained his composure through the competing offers. While Cuban's million-dollar deal brought substantial capital, the 30% equity requirement exceeded Francois's target. With multiple offers on the table, he assessed each proposal's monetary value and strategic benefits.

The involvement of two Shark Tank investors with complementary business backgrounds presented a compelling opportunity.

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Final deal structure and outcome

Bruno Francois countered Cuban and Greiner with $500,000 for 15% equity. The Sharks accepted, each taking 7.5% ownership. This agreement valued Cycloramic at $3.33 million, significantly higher than the initial valuation. The partnership proved beneficial as the app's downloads surged to 8 million within weeks of the episode airing.

As per Shark Tank Blog, Francois developed Car360, applying similar photo technology to vehicle imagery. This innovation caught the attention of Carvana's CEO, Ernie Garcia, at an industry conference. The discussion led to Carvana acquiring Car360 for $22 million in April 2018. The acquisition validated the original investment strategy and demonstrated the technology's broader applications in digital commerce.

The final metrics showed significant growth from the initial pitch metrics. From $660,000 in sales and $175,000 in revenue, the business transformed into a multi-million dollar acquisition. The partnership with Cuban and Greiner provided resources and guidance during this expansion, helping Francois identify new market opportunities and scale the technology's applications.

As of January 22, 2025, their website is not online.

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Fans can watch new episodes of Shark Tank on the ABC network.