Blackdot Update | Shark Tank Season 16

Joel Pennington worked as a tattoo artist and saw two main problems. People wanted tattoos from great artists, but those artists were hard to reach. Also, tattoo artists only earn money by working with one customer at a time. To solve this, Joel created Blackdot, a tattoo machine that lets artists share their designs online and get paid every time someone uses them. It makes tattoos less painful and easier to get, and artists can earn money even when they’re not in the shop. Will the sharks get behind this idea? Let’s find out in our Blackdot update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to Blackdot after Shark Tank.

Joel entered Shark Tank Season 16, seeking $1.5 million for 5% equity in his automated tattoo machine. Sadly, after his pitch, he could not convince any of the sharks to invest in his business, so he left without a deal.

In terms of a Blackdot update, the company developed a tattoo font engine, improving precision and expanding design choices. Further, the company introduced its automated tattoo device into 40 modern studios globally.

Shark	Result
Kevin O’Leary	No offer
Rashaun Williams	No offer
Lori Greiner	No offer
Daymond John	No offer
Mark Cuban	No offer

Shark Tank Blackdot Pitch

• Entrepreneur: Joel Pennington
• Business: Automated tattoo machine
• Ask: $1.5 million for 5% equity
• Result: No deal
• Sharks: None

Joel pitched Blackdot to the sharks, a tattoo tech company that combines robotics with digital art.

His product is a robotic tattoo machine that works with an online marketplace for licensed designs.

According to Joel, the tattoo industry hasn’t changed in over 5,000 years. His goal is to bring innovation to a growing market.

The machine uses tiny black dots—each as small as a human hair—to create detailed tattoos. Joel said the process is less painful than traditional tattoos.

Customers rate the pain at a two out of ten, compared to the usual five to eight. The device can recreate work from top artists around the world with high precision.

Blackdot also helps artists. They upload their designs to the marketplace and get paid each time a customer uses one.

Joel said this allows artists to earn money without trading time for every tattoo. Some designs on the platform cost between $2,000 and $10,000.

At first, Joel planned to open Blackdot-owned studios. But he recently changed the model. Now, he wants to lease the machines to tattoo shops.

Shops would get access to the device, and the online design marketplace, and could upload their own artwork.

Joel said each machine could generate around $1 million per year, with 79% profit margins.

Mark Cuban wanted to know if Joel had an actual business behind the product.

Daymond John, who has over $300,000 worth of tattoos, asked about the business model. Kevin O’Leary wanted to know how much the machine costs and whether shops could buy it.

Guest shark Rashaun Williams asked about revenue and how Joel planned to grow the business.

Joel shared that the company launched in 2019 and has raised $4.5 million. He only has one working machine and said most tattoos so far were for testing.

It costs about $120,000 to build one machine, though he believes that could drop to $50,000 with mass production.

However, he didn’t have set pricing for leasing or clear revenue numbers from paying clients.

The sharks had concerns. Rashaun said the business was still in the product phase and not ready to scale.

Lori Greiner said the $30 million valuation wasn’t supported by real sales. Kevin didn’t see a clear plan to get a return on investment.

Mark said Joel didn’t focus enough on the actual customer—the shop owners. Daymond liked the idea but agreed it was too early to invest.

In the end, none of the sharks made an offer. Joel left without a deal but said he’s looking for investors who believe in the long-term vision.

Now, let’s check in for a Blackdot update.

Shark Tank Blackdot Update

Our Blackdot update found that since appearing on Shark Tank, the company has developed and deployed a groundbreaking tattoo font engine.

As part of its global partner launch, Blackdot is introducing its automated tattooing device to 40 modern studios, including tattoo parlors, permanent makeup studios, and body piercing shops.

This initiative aims to modernize the tattoo process, offering high-definition tattoos with surgical precision while minimizing discomfort.

You can visit the Blackdot website to learn more about their latest innovations.

Once the dust settles, we will be back with another Blackdot update.

For other company updates from Shark Tank Season 16, Episode 14, look below:

• Firefly Recovery Update
• BAM Buckwheat Milk Update
• Duzter Hockey Update

Before you go, be sure to check out our list of all the Shark Tank Season 16 products.