Crowd Compass Update | Shark Tank Season 17
Ever been in a concert or a large crowded event, and you somehow miss your friends, and then you pull up your phone to reach out to them, and there’s no service? Well, Christopher has a solution to that, and it’s called Crowd Compass.
It works without cell service and uses a simple compass-style display that points you in the direction of your friends. It also tells you how far away they are. Will the sharks invest in this innovative friend-finding solution? Find out in our Crowd Compass update and pitch recap.
If you’re short on time, here’s a quick overview of what happened to Crowd Compass after
Christopher entered
In terms of a Crowd Compass update, the company gained a huge amount of interest from thousands of potential customers after the episode aired.
| Shark | Result |
| Kendra Scott and Daymond John | Accepted offer of $150,000 for 20% equity |
| Kevin O’Leary | $150,000 for 13% equity plus $10 royalty per unit until $450,000 is paid |
| Lori Greiner | No offer |
| Alexis Ohanian | No offer |
Shark Tank Crowd Compass Pitch
- Entrepreneur: Christopher Dimoff
- Business: An e-compass for finding friends
- Ask: $150,000 for 10% equity
- Result: $150,000 for 20% equity
- Sharks: Kendra Scott and Daymond John
Chris explained to the sharks that Crowd Compass is built for moments like music festivals and large events.
Crowd Compass creates a private, encrypted radio network that allows you to find and message your friend in a crowded place. It does this without cell service or the internet.
To use it, you pair it with your smartphone, and you can assign a different color to each of your friends. Whenever any of your friends gets separated from the group, you turn on the device, and it points you in the direction where that person is located.
The product also features distance coverage from about 10ft to over 3 miles. That way, you know how far you need to walk to reach your friend.
It supports direct SMS using radio signals, plus you can view friends in real time on the app.
Stressing the versatility of their product, Chris told the sharks the device can also be used for family safety, child tracking, and outdoor events like hiking.
A unit sells for $199.99, with a multi-pack discount bringing the price down to $179 per unit. Landed cost sits at $51 per unit.
In the last 14 months, they have done $384,000 in revenue. Chris says that sales would have been higher, but he was limited by inventory and limited capital for production.
To date, they have sold 2,555 units to mostly concert goers. Although Chris explained that the demand came mainly from Reddit rave and festival communities.
Chris also hinted at the presence of a direct competitor, but noted that his Crowd Compass stands out because of its long-lasting battery life, range, unlimited users, and stronger messaging features.
Now, time for the offers. Kevin offered $150,000 for 13% equity plus $10 royalty per unit until $450,000 is paid. Chris pushed back, saying royalties would restrict future fundraising.
Daymond John and Kendra Scott then discussed partnering together, offering manufacturing help, cost reduction, and direct access to major festival networks.
After weighing the options, Chris made his decision. He accepted $150,000 for 20% equity from Daymond and Kendra.
Let’s quickly get a Crowd Compass update after Christopher’s appearance on
Shark Tank Crowd Compass Update
Our update on Crowd Compass found that the deal with Kendra and Daymond is currently in its due diligence phase. As things become clearer, we shall bring you more reports regarding the deal’s status.
Shortly after their episode aired, the company received a significant surge in web traffic with thousands of people making inquiries about their friend-finding device.
Although no updated sales numbers have been reported yet, it seems things are headed in the right direction. Further, it sounds like Chris is planning to modify the device into different variations as the sharks suggested on the show.
You can buy Crowd Compass from their official website.
We will keep an eye on Chris and return with more reports in our next Crowd Compass update.
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Marvin Uzor
Marvin Uzor is a content contributor for Shark Tank Recap. He specializes in crafting engaging, well-researched content that delve into the latest Shark Tank stories, keeping readers hooked. He has a soft spot for his favorite Shark Tank companies, Bombas and Doorbot, known for their innovation and impact.