Pavlok Shark Tank- Pavlok, founded by Manish Sethi, is a wearable device designed to help individuals break their bad habits. Originating from Boston, Massachusetts, the company’s unique approach to behavior modification has garnered attention and intrigue.
The wearable doesn’t just track user behaviors but actively intervenes to change them.
Pavlok Shark Tank Product
Pavlok is a wearable device that releases a mild electric sensation when the user engages in behavior they wish to reduce or eliminate. This sensation serves as a deterrent, helping users become more aware of their unwanted habits.
The product is grounded in the science of aversive conditioning, a method that was popular in the 1960s. This method involves pairing an undesired habit with an uncomfortable stimulus, training the brain to associate the two and ultimately leading to the cessation of the habit.
The Pavlok device harnesses this scientific method, which has been researched for decades, to help its users change their behaviors.
Pavlok Shark Tank Deal
Manish Sethi entered the Shark Tank seeking an investment of $500,000 in exchange for 3.14% of his company. The valuation of the company was implied to be around $16 million.
The product had generated $800,000 in revenue, with three-fourths from pre-orders and one-fourth from prototypes, each device being sold for $200.
Kevin O’Leary, also known as Mr. Wonderful, showed interest in the product and made an offer. He proposed $500,000 as debt with a 3.14% equity stake in the company. The debt would be on for 24 months at a 7.5% interest rate, with a balloon payment due in two years.
However, Manish declined the offer, expressing concerns about partnering with Mr. Wonderful.
| About the Company | – Founded by Manish Sethi |
| – Designed to help break bad habits | |
| – Originated from Boston, Massachusetts | |
| About the Product | – Releases mild electric sensation |
| – Grounded in aversive conditioning | |
| – Changes user behaviors | |
| About the Deal | – Sought $500,000 for 3.14% equity |
| – $800,000 in revenue | |
| – Kevin O’Leary made an offer | |
| – Manish declined the offer |
Pavlok’s appearance on Shark Tank showcased the innovative approach of using aversive conditioning to help individuals break their bad habits. While the product’s concept was rooted in established scientific methods, the pitch faced both interest and skepticism from the sharks.
The company’s valuation and the founder’s presentation style were points of contention. Despite receiving an offer from Kevin O’Leary, Manish Sethi chose to decline, prioritizing the company’s mission over immediate financial gain. The episode underscores the challenges and complexities entrepreneurs face when seeking investment, as well as the importance of aligning with the right partners for a company’s vision and values.
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