Shark Tank: Splikity Password App Earns A Deal from Kevin O’Leary however Declines

October 2, 2015

next, Doug and Chad Clark, the dapperly-dressed brothers, are searching for 200,000 in trade for 10 percent fairness in their app Splikity. Splikity robotically saves passwords and saves them to your devices. In doing so, it enters your password into a website.

with out a historical past in know-how, alternatively, Mark Cuban fast goes out. He sees the product as an all too easy way for hackers to steal people’s passwords.

Robert Herjavec needs to hear more about the computerized options of the app. Lori Greiner explains how it might be easy for a woman to get right of entry to, even though they have no information of know-how.

They charge $ four.ninety nine a month or $ 49.ninety nine for a 12 months. Their sales are $ 55,000 because the beginning of the previous month, garnered from a royalty deal.

Barbara Corcoran wonders if it merely aggregates your passwords considering that she forgets her passwords always.

Cuban expresses his frustration, alternatively, that they are being so secretive about their royalty deal for the reason that they don’t seem to be able to expose who the company is that gave them the deal.

Herjavec, technology mogul, respects what they’re seeking to do, however feels as if he is aware of “an excessive amount of” so he goes out.

Corcoran finds it confusing so she too goes out as a result of if she can’t take into account it, she can’t generate profits. Greiner goes out too as a result of she could not have in mind it quick enough.

O’Leary, the closing shark in, tells them there is a demand, but bargains 200,000 as undertaking debt, paying 10 p.c of sales until $ 600,000 is repaid. He additionally desires 5 p.c fairness.

They savour the supply, however they refuse.

“It’s not my duty to pay attention, it’s your accountability to make me hear,” Herjavec says once they specific their disappointment over their unwillingness to let them explain for two extra minutes. He thinks Cuban was especially rude.

closing provide: None.

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