First into the tank is Brendan Alper of Hater, seeking $200,000 for five percent equity.
Key Takeaways: Hater on Shark Tank
- Pitch: Seeking $200,000 for 5% equity.
- Product: Dating app connecting people based on mutual dislikes.
- Valuation: No sales, over half a million users.
- Investment: Accepted $200,000 for 7.5% equity and 2.5% advisory shares from Mark Cuban.
- Latest Update: Hater app saw initial success but struggled to maintain user growth and eventually pivoted to new projects.
The Hater App Company Overview
Hater offers a new kind of online dating experience.
The app, which went viral earlier this year, connects people based on what they hate. According to their website, “Hater is making serious online dating more approachable by replacing cumbersome surveys and bios with a fun, alternative way to express your personality.”
The app is available for free in the App Store.
The Sharks Think It’s an Interesting Idea
Since Valentine’s Day, they have accumulated more than half a million users.
New York City is their number one location. They have no sales to date, but hope to utilize the app’s demographics and data for consumer behavior insights in the future.
Guest shark Rohan Oza worries about spreading the app too thin and goes out. Barbara Corcoran loves the name and offers $250,000 for five percent, which she says must be accepted right away. Lori Greiner then jumps in and offers $200,000 for 10 percent with a promise to create a whole brand around the app. Corcoran then goes out since he did not immediately accept her initial offer.
Mark Cuban makes an offer as well, coming in at $200,000 for seven-and-a-half percent and two-and-a-half percent in advisory shares. Cuban likes the idea of using celebrity influencers, in addition to the gaming aspect. Robert Herjavec likes the PR angle and offers $250,000 for 15 percent with Corcoran for a total investment of $500,000.
Ultimately, Alper accepts Cuban’s offer.
Social Media Reacts to Hater’s Appearance on “Shark Tank”
Watching #SharkTank, and realizing that the Hater app is sad, brilliant, and the app that the US deserves.
— Corey Quintaine (@Quintaine) November 27, 2017
Never knew that people who hate the same things are more compatible than people who love the same things. The Hater app is cool. #SharkTank
— Brian Erhardt (@brystr06) November 27, 2017
Think I've heard of Hater before on a radio ad, funny enough. It's actually a rather smart idea. #SharkTank
— ℭ (68-30) ⚾️ (@AndrewCollet) November 27, 2017
An app that matches you based on what you both hate….what a brilliant idea! #Hater #SharkTank
— Corey Yant (@CoreyYant) November 27, 2017
The #Hater app is funny but I also think it’s kind of mean-spirited. Who wants to spend a whole date bitching about things? #SharkTank
— Amy Naas (@AmyNaas) November 27, 2017
This Hater app is actually pretty cool. #SharkTank
— Novafan23 (@Novafan23) November 27, 2017
Just saw the #hater dating app on #sharktank. Downloaded. This is not just a dating app… it’s entertainment!!!
— Dawn Bierschwal (@dawnbierschwal) November 27, 2017
Latest Update on Hater
The Hater app gained attention after “Shark Tank” and secured an investment from Mark Cuban. Despite initial user growth, the app struggled to maintain momentum and eventually pivoted to other projects. The app is no longer active.
Final Thoughts
Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging business to six multi-millionaire and billionaire investors, known as sharks:
- Mark Cuban, owner of the Dallas Mavericks;
- Daymond John, fashion mogul and founder of FUBU;
- Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group;
- Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC;
- Robert Herjavec, technology guru and founder/CEO of the Herjavec Group.
Venture capitalist Chris Sacca is also slated to appear as a guest shark this season.
“Shark Tank,” which is based on “Dragons’ Den,” is produced by Mark Burnett and first debuted in 2009. To date, the sharks have invested more than $87 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Friday at 9 p.m. on ABC.
Would you use the Hater dating app? Sound off in the comments section below!