Brand Yourself originally entered the Shark Tank in Season 6. Before the show aired, Heavy sat down with CEO Patrick Ambron to learn more about his company, which allows a user to maintain a positive online presence.
Now, as that episode re-airs, we caught up with him to see how his company is faring since leaving the Tank. He told us about…
How the Company Has Grown
Before Shark Tank we had done just over $2 million in revenue, since Shark Tank we’ve almost tripled that. On top of that, since the show, we’ve booked another $4 million and are on pace to more than double last year’s revenue…When we filmed our episode we had about 40 employees – we now have over 70 with a half-dozen job openings we’re still trying to fill.
Not Accepting Robert’s Deal
Given Robert’s background as a cyber security expert, we went into the Tank targeting him as the Shark that made the most sense. Robert immediately saw value in what we do so you can imagine how thrilled I was to get an offer. You can also imagine how hard it was to walk away. While Robert was the right Shark, his deal just wasn’t the right deal. Robert offered $2 million for 25% of the company. The problem was we had just raised money that valued the company at double that. Out of fairness to investors we couldn’t accept. The company was disappointed but the health of our company has never been better.
Plans for the Future
Right now we’re focused on three initiatives:
1. Keep improving our current products and services. It’s important we have the best solution out there.
2. Continue to find new avenues of growth: There are people who need our help and we need to let them know we exist!
3. Build more products and tools that give people control online: This is just the beginning. People need tools that help them protect and promote their reputation, privacy and identity online.
Advice for Future Contestants
Prepare, prepare, prepare. Make sure you know your numbers cold and be ready for the Sharks to ask the hard hitting questions. Have an idea of what deal you are willing to make – but it’s important you follow your gut. You know what’s best for your business and the Sharks are looking to get the best possible deal – so you want to make sure the deal works in your favor.
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