Drs. Albert Amini and Richard Amini appeared on Shark Tank in season 5 episode 1, which aired on September 20, 2013, to pitch the medical-based social media platform, Rolodoc. The company was geared towards improving communication between doctors and patients.
Mark Cuban was frustrated by the fact that the co-founders constantly mentioned ''social media" even though they could not explain how their platform integrated it.
"You didn’t show us anything about social media. You showed us profiles and talked to us about emails. You didn’t tell us at all about how you were going to get there. It was horrible," he added.
The Shark acknowledged that they were trying to recreate Twitter and Facebook on Rolodoc. However, he lost interest. He walked up to the Shark Tank contestants, shook their hands, and to their faces, told them that they were the "worst presentation ever."
Robert Herjavec felt that Mark was being a bully. However, Mark didn't care and replied that Rolodoc Owners deserved to be bullied.
"Ok, I am being a bully, then they deserve to be bullied," he said.
Rolodoc misses the mark on Shark Tank: Social media platform failed to secure any investment
Drs. Albert Amini and Richard Amini pitched their medical-based social media platform, Rolodoc, on Shark Tank in season 5 episode 1. They sought a $50,000 investment in return for 20% equity in their company.
"As physicians, we're constantly communicating with our peers, our patients and with other medical professionals. And what we've realized is that when it comes to communication, medicine is not in the 21st century. I mean, for crying out loud, we're still using pagers to communicate. What is this, the 80s?," they pitched.
The co-founders explained that Rolodoc was the cure for the "old school communication that exists in medicine." It allowed for secure e-mail between patients, physicians, and other medical professionals, and the mobile app offered instant messaging.
While they pitched it as a social media platform, they were using email as the means of communication.
Furthermore, the Shark Tank contestants weren't clearly able to communicate how they were going to generate revenue or market their platform. They weren't clear how the physicians could use social media on their platform despite being marketed as a social media communication platform for doctors and their patients.
One by one, the sharks exited after pointing out their platform's flaws.
"I see this as a liability nightmare. Because you are putting people in touch with their doctors, they're answering back without maybe seeing a patient, knowing what's going on... There's a lot of risk in it. I'm out," Lori Greiner chimed.
Barbara Corcoran said it was "hurtful" for her to watch their presentation. She agreed with Mark and labeled them "the worst sales presentation" she had ever heard.
The Shak Tank contestants tried to defend their stance, stating they were physicians and not presenters. However, Barbara didn't care what their background was. She told them they should have prepared a better presentation.
Robert reiterated that the Amini brothers didn't explain how they would get users and monetize their platform. He added that he couldn't see the business in their platform so he took his exit as well.
"I was intrigued. Frankly, it's depressing because I like new ideas in the medical space. They're forever if they work. But at the end of the day, I can't connect the dots regarding how I make money. I'm out," Kevin O'Leary chimed.
With no shark interested in their platform, Drs. Albert Amini and Richard Amini had to leave empty-handed.
Shark Tank season 16 episodes air every Friday on ABC.