Passionate about early education, Dave Vasen created Brightwheel, a tool for pre-schools and daycares. The platform takes on admin tasks as well as helping parents feel connected to their kids while apart. Will the sharks invest in this innovative tool on
Shark Tank Brightwheel Update
- Entrepreneur: Dave Vasen
- Business: Platform tool for early education
- Ask: $400,000 for 4% equity
- Result: $600,000 for 6.67%
- Shark: Mark Cuban and Chris Sacca
He had received $2.2 million in the seed round and Brightwheel had a $10 million valuation. Dave was planning to keep the platform free and without ads.
He told the sharks he would implement optional premium features for those who wanted to pay extra. Kevin O’Leary was not charmed by the lack of advertising.
Brightwheel had gone from 10 schools to 2,500 across the states. Kevin was intrigued and offered $400,000 for a 10% stake. Daymond John went out because he said education wasn’t an area he had much experience in, unlike fellow sharks Kevin O’Leary, Mark Cuban, and guest shark Chris Sacca.
Chris showed his interest but advised that the lack of advertising might need to be reconsidered. He also made an offer of $400,000 for a 4.85% stake.
Dave asked Chris if he would consider teaming up with another shark, but Chris didn’t rank the other sharks for their skills in education.
This led to an extended quarrel between Chris and Mark that Daymond seemed to enjoy witnessing. Kevin took advantage of the squabbling to change his offer, matching Chris’ for $400,000 at 4.85%.
Mark joined the offers with $400,000 at 4%, the stake Dave initially had on the table. Daymond asked if Dave would consider more money for a higher stake, and Dave replied in the affirmative.
Dave countered with $600,000 for 6% equity, and Chris countered that with a joint deal with him and Mark with $600,000 for 6.67%.
Dave asked Mark if he’d match that, and Mark said he would. Dave accepted the deal, and shook hands with the two sharks, leaving the tank with two new partners.
Now let’s check in for a Brightwheel update to see what happened after the episode aired.
Brightwheel has been thriving since appearing on
Our Brightwheel update research found that the company now has an estimated valuation of $600 million. You can learn more on the Brightwheel website.
Interested in the other companies featured in Season 7 Episode 26? Check out the links below to see our other company updates for the episode.
For even more on companies and products, visit our Season 7 Products Page!