Mirmir Photobooth Update | Shark Tank Season 9

Mirmir founders Sean Spencer and Ryan Glenn are looking to redesign the photo booth experience. The problem with current photo booths is that the photos look cheap and childish. The quality is poor, and the photos never get framed or shared online. 

Sean and Ryan have found a solution that will get people excited and give them captured memories that will last a lifetime. Will the sharks want to frame their selfies to put on the wall, or will they pass on this Season 9 company? Let’s find out in our Shark Tank Mirmir update.

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

Sean and Ryan entered Shark Tank Season 9, seeking $350,000 for a 10% stake in their business. After presenting their business, they made a deal with Robert Herjavec for $700,000 for a 20% stake.

In terms of a Mirmir update, the company has grown to $24 million in annual revenue since Shark Tank. Additionally, they’ve expanded their services internationally and have secured major partnership deals with prestigious events such as the Golden Globe Awards and the Oscars.

Shark	Result
Robert Herjavec	Accepted offer of $700,000 for a 20% equity
Kevin O’Leary	$350,000 loan with 18% interest and 5% equity
Mark Cuban	No Offer
Daymond John	No Offer
Lori Greiner	No Offer

Shark Tank Mirmir Pitch

• Entrepreneurs: Sean Spencer and Ryan Glenn
• Business: Photobooth with high-quality photos
• Ask: $350,000 for 10% equity
• Result: $700,000 for 20% equity
• Shark: Robert Herjavec

Ryan and Sean started their pitch by telling the sharks that their company, Mirmir Photobooth, offered high-quality selfie machines, a unique concept despite photobooths existing for years. However, traditional booths often produced unflattering photos. 

Right away, Robert Herjavec recognized the Mirmir machine as a service he used in his wedding. He was very impressed with the photo quality and wanted to know the secret. 

Mirmir’s technology combined professional-grade lighting with software that subtly enhanced the photos, creating a retouched look. 

When questioned about sales, Ryan revealed that revenue in the first three years had been over $4 million. 

They currently have 9 machines operating in New York and Los Angeles, charging $2,750 for four hours of use. An additional package with an assistant and social media promotion costs $3,650. 

Each machine cost $22,000, and the pair had invested around $250,000 in the company. They were seeking investment to buy more machines for events and potentially fixed locations. 

Mark Cuban wasn’t convinced of the business’s long-term viability and passed on the deal. 

Daymond John shared his concerns about rapid technological advancements and also exited. 

Lori Greiner expressed a preference for maintaining a premium market rather than mass appeal and dropped out. 

Kevin O’Leary, however, was interested but cautious. He offered $350,000 as a loan with 18% interest and a 5% stake in the company. 

Robert genuinely liked the business but wanted more control than the entrepreneurs were offering. He initially proposed a 50% stake. After further discussion, they reached a deal: $700,000 for a 20% share in Mirmir. 

So, after securing a deal on Shark Tank, let’s see how Ryan and Sean used their investment money in our Mirmir update.

Shark Tank Mirmir Update 

After appearing on Shark Tank, Mirmir gained significant traction, with its photobooths being the preferred choice at high-profile events. 

At the time of our Mirmir update, it appears the deal with Robert Herjavec never materialized, but that didn’t stop the entrepreneurs from forging ahead. 

They are still in business and doing quite well. Our Mirmir update research revealed that Eric Cusin, from Season 6’s Reviver, partnered with Sean and Ryan.

Further, the company has received endorsements from high-profile celebrities like Taylor Swift, Kim Kardashian, Jay-Z, and Kanye West who have all used a Mirmir photobooth for their personal events. 

This has significantly increased the brand’s visibility and demand. Additionally, TheKnot, a popular wedding website, has also featured Mirmir’s services, which has led to more wedding bookings.

Since Shark Tank, Ryan and Sean have continued to expand both the number of Mirmir machines and their locations. In addition to Los Angeles and New York, the company now has operations in Montreal, Bangkok, San Francisco, Dallas, London, Toronto, Austin, and Tokyo. 

The company has also partnered with prestigious events like the Oscars and Golden Globes. As of February 2023, its annual revenue had reached $24 million per year.

Sean and Ryan’s story proves that rejection on Shark Tank doesn’t always mean failure. Stay tuned because the future looks bright for our next Mirmir update.

You can find the other company updates from Season 9 Episode 5 here:

• Kwik-Hang Update
• Human Bobber Update
• Ash and Anvil Update

Don’t forget to take a look at our updates for the other companies from Shark Tank Season 9, too.