MirMir

Next into the tank are Sean Spencer and Ryan Glenn of MirMir, seeking $350,000 for 10 percent equity.

MirMir is a new kind of photo booth experience. According to their website, their “goal is to seamlessly capture your event, your wedding, your product launch in a way that will leave your guests delighted, entertained and with a tangible memory that will last for years to come.” Their premium photo, gif and video services deliver star-like quality and “lightning fast” results in both print and digital form. Photos and videos can also incorporate event-specific messages and hashtags that are sent right to guests’ phones. The no-effort, picture-perfect experience helps keep memories alive for years to come.

The sharks are very intrigued by MirMir and agree that the photos come out great. In 3 years, they have done approximately $4 million in sales from mostly live events. Their highest package costs $3,650. The duo has put more than $250,000 into the business.

Mark Cuban worries that there are no unique filters and finds it to be an expensive/complicated investment. He goes out. Daymond John likes MirMir but thinks the market is simply moving too quickly. He goes out, followed by Lori Greiner. Kevin O’Leary questions how he would get his money back but offers $350,000 as a loan at 18 percent interest with five percent equity. He thinks they need more photo machines. Robert Herjavec loves the business and, like O’Leary, thinks they need to expand very quickly. He says he would want 50 percent equity, which they quickly decline. The highest they would go is 20 percent.

Herjavec then offers $700,000 for 20 percent, which they accept.

Social Media Reacts to MirMir’s Appearance on “Shark Tank”

Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging businesses to 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; and Robert Herjavec, technology guru and founder/CEO of the Herjavec Group.

Philanthropist and Virgin Group founder Richard Branson, Spanx founder Sara Blakely, Skinnygirl Cocktails founder and Real Housewife Bethenny Frankel, Vitamin Water founder Rohan Oza and former MLB player Alex “A-Rod” Rodriguez are also slated to appear as guest sharks 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 $100 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Sunday at 9 p.m. on ABC.

Would you try out MirMir? Sound off in the comments section below!

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