The founders of PhoneSoap, a company that sells cell phone chargers designed to sanitize phones while they charge, pitch to 'Shark Tank.'
div > div.group > p:first-child"> After seeing an alarming news report that said cell phones are contaminated with fecal matter, cousins Dan Barnes and Wesley LaPorte were inspired to start PhoneSoap, a company that sells cell phone chargers designed to disinfect phones while they charge.
"We believed strongly in Shark Tank's ability to share our product and message," Barnes said in an email to CNBC."Also, we needed the help of the sharks — and particularly Lori! She was who we had in our mind of who we most wanted to work with." Barnes and LaPorte came prepared. Five months prior to their"Shark Tank" airing, they had $537,000 in sales. On top of that, they raised $800,000 from a local investor, giving up 60 percent of their company.
"We were two entrepreneurs that really had an idea that we loved," Barnes said on"Shark Tank," regarding the decision to give away 60 percent equity."We hit the point where it was like, it was going to cost us a lot of money to make it. And we decided it was either be greedy and have this go nowhere, or give ourselves an opportunity ..."
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