Spivo on Dragon's Den
*We filmed our reactions to the show as it aired live on Facebook using a Spivo 360 👆 (full episode here: Dragons' Den | Episode 9, Season 12 )
Marc and Andre, the co-founders of Spivo Inc., pitched their invention the Spivo Stick (now Spivo 360), the only swiveling selfie stick on the market. Their love for adventure and action sports were obvious as they rolled in on a skateboard and BMX bike. The Dragons were impressed before they even started their pitch.
Marc and Andre started their pitch with the story that sparked the idea behind the Spivo Stick (watch full Spivo Story ). They then continued to hand out Spivo Sticks to the Dragons to try for themselves, it was like watching kids on Chrismas Morning. "This doesn't already exist" was Arlene's instant response.
All of the Dragons' were impressed by the product. "It's definitely easy to use" was Manjit's first impression, followed by Jim's cheerful comment "A great day in the Dragons' Den". The Dragons' were all happily surprised with the Canadian made product and how the co-founders put a simple twist on the popular selfie-stick that differentiate it into a more dynamic, adventure-ready product.
The pitch went smooth but we all know what really matters is the offerings. A number of Dragons' put some great offers on the table. Marc and Andre knew they wanted a partner that could offer marketing mentorship on top of the $200,000 for 20% equity.
The offers were on the table, Michael made a royalty-based deal, Michele offered the deal as pitched and Manjit came back with $200,0000 for a 17% stake in the business. The decision had to be made. Michaels' deal was off the table as it was not what they were asking for. Manjit's' deal was generous. However, due to Michele's experience in marketing and e-commerce, they decided she would best be suited for partnership. The deal was made and hugs were shared.
The experience of being on Dragons' Den will always be one to remember. Marc and Andre were very happy with the results of the episode. This opportunity provides Spivo Inc. with more room to grow and fulfill our mission. We strive to inspire people to experience more by creating the easiest way to capture adventures and share memories.
Surrounded by team members and friends, they celebrated the big win with a bottle of champagne and excitedly discussed the future of the business.