Paparazzi Proposals Engagement Photos Update | Shark Tank Season 5
James Ambler is a photographer who has developed a way to take unique engagement pictures. He wants to take his business national, but he needs some help from the sharks to make it happen. Will his company earn a deal on
Shark Tank Paparazzi Proposals Update
- Entrepreneurs: James Ambler
- Business: Paparazzi style engagement photos
- Ask: $250,000 in exchange for 20% equity
- Result: $50,0000 in exchange for 30%, plus a $200,000 loan
- Sharks: Lori Greiner and Kevin O’Leary
James is a paparazzi photographer with a side gig of taking candid, pap-style photos of non-celebrity marriage proposals. The partner who is about to pop the question arranges the time and place with Paparazzi Proposals in advance. When it’s time for the proposal, James arrives with a stealth setup and captures the special moment on camera, unbeknownst to the proposal recipient.
He has made $100,000 in sales the two years prior. James values the company at $1.25 million. Kevin O’Leary said James’s company was overvalued, and he was the first shark out. Mark Cuban didn’t think he would be able to get a return on an investment, so he was out. Barbara Corcoran felt that James’ business was more of a concierge service rather than something for an investor to help finance, so she was also out.
Lori Greiner loved the idea, but she also had a problem with James’ high valuation. She didn’t understand why James would need $250,000, given that there was relatively little overhead. A few sharks tried to talk Lori out of making a counteroffer. Mark told her that her idea of how to market the service would fail, and Kevin told her that the whole business wasn’t worth $250,000.
Undeterred, she countered with an offer for $250,000 in exchange for 50% equity. When James hesitated, Kevin reminded him that he thought James’ business wasn’t worth a fraction of its valuation. James told the panel that he had worked for two years to build his business and he wasn’t interested in giving up half his company.
Sensing they were about to lose Paparazzi Proposals altogether, Kevin offered to team with Lori and restructure her offer. Kevin offered $50,000 for 33% equity, and a loan of $200,000 when James needed it. While James considered Kevin’s offer, he asked Robert Herjavec if he was interested in his company. Robert then offered James $100,000 in exchange for 33%, and a loan for the additional $150,000 of his ask as he needed it.
James told Lori that if she partnered with Robert, they would have a deal. This didn’t sit well with Robert, but James wanted Lori’s retail connections in addition to the money. Robert felt slighted and he pulled his offer. That left James with the Lori and Kevin team, and their offer of $50,000 in exchange for 33%, plus the loan. James proposed that the two bring their equity down to 30%. Lori and Kevin said yes, and the deal was done.
What happened next for James’s company? Keep reading our Paparazzi Proposals update to find out!
Research for our Paparazzi Proposals update finds that the deal with Lori and Kevin never closed, but that hasn’t held James back. His business model has proven to be very successful, and there are currently about 36 locations around the world. The company is now reportedly worth $10-$15 million. You can learn more at the Paparazzi Proposals website.
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Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!