Who doesn’t like to create memories? A photo can bring back countable memorable events instantly.
You must check out Mirmir Photobooth if you’re searching for an exclusive and indelible way to capture pictures to share with loved ones, colleagues, or friends.
After airing their company on Shark Tank, episode 5 of season 9, it rapidly received popularity. Were the owners manipulative enough to create an impact on the Sharks? In this new modification on MirMir from Shark Tank, let us discover more.
Quick Facts
| Founders name: | Sean Spencer, Ryan Glenn |
| Business details: | Photobooth with high-quality photos |
| Founded in: | 2013 |
| Location : | Austin, Texas, USA |
| Asking of Company: | $350,000 for 10% equity |
| Accepted Deals: | $350,000 for 10% equity |
| Shark on board (Investors): | Robert Herjavec |
| Shark Tank Episode: | Season 09 Episode 05 |
| Net Worth | $27 million |
| Business Status: | Active |
| Last Updated: | Mar 09, 2024 |
| Social Media |
About the Founder
The proprietors of Mirmir are Ryan Glenn and Sean Spencer. They thought that they would invent an idea that would thrill audiences and leave them with unforgettable recollections.
A cutting-edge photograph booth service is MirMir. The purpose of Mirmir’s work is to document your celebration. It includes a marriage ceremony, or new product debut in a manner that makes guests delighted, amused, and armed with an original remembrance that will be cherished for ages.
Founding the MirMir
Mirmir’s purpose is to reimagine the photo booth scenario. Photos taken in contemporary photo centers are cheesy and childlike. The pictures are of such substandard that their images rarely get exhibited or posted publicly.
Mirmir is a quick photography booth that generates photos of professional quality using specific software and effects. Mirmir modifies the lighting, boosts facial characteristics by auto-touching images and removing disturbances, and uses monochrome effects to boost the visual quality.
Shark Tank Appearance
Sean and Ryan entered the Tank and proposed to the Sharks $350,000 for a 10% ownership stake. Their company has a valuation of $3.5 million. They claimed to enlarge their market revenues and popularity with the funding.
Robert Herjavec quickly noticed the Mirmir device as it was present at his nuptial. He was quite taken aback by the images and was curious as to what contributed to their excellent durability.
However, Mark Cuban left the pitch because he did not think this was a firm worth investing in.
Daymond John believed that while they would gain prosperity for a couple of years, given how quickly technology advances, they wouldn’t be able to handle longevity, thus he also departed.
Lori Greiner decided to leave as she disliked the path they had chosen in attempting to make it more accessible to the general public as opposed to preserving its status as an expensive good.
Kevin O’Leary was intrigued yet worried about failing. He provided a loan of $350,000 at 18% interest along with a 5% ownership position in the business. But, the owners were not satisfied with it.
Robert genuinely appreciated the company, but he firmly believed that they required higher stakes compared to what the founders were seeking. He genuinely desired a half-share of the company and was curious about their acceptance in exchange. They reached an agreement where Robert proposed $700,000 for 20% after further deliberation.
After Shark Tank
The company, MirMir, is still in business. It created a partnership with Golden Globe Awards and Oscars. It was additionally highlighted on the well-known bridal site The Knot.
The estimated net worth of the company as of February 2024 is $27 million.