Founder makes confident pitch on ‘Shark Tank’ — but one offhand comment turns every investor away
Ryan Diew appeared on ‘Shark Tank’ to pitch his travel app, Trippie. He appeared in Season 9 of the hit business show. He had big plans for the future, seeking $100,000 for 10% equity in his business. He valued Trippie at $1 million. According to Shark Tank Blog, Trippie was designed to solve common travel problems, from finding gates to ordering food during layovers.
Trippie, a travel tech app, was designed to help travelers navigate through large airports. The app also offered real-time flight details, terminal maps, gate-specific food options, and delivery to your gate at the selected airport. He explained how hard it is to find your gate while juggling heavy luggage. He also talked about the hassle of searching for food in a large airport while hauling bags. As per Diew's pitch, he had to settle down for a soggy tuna sandwich, which was available on the food stall near his gate. He then mentioned, “little did I know that my favorite Mexican food spot was only a 3-minute walk away from the gate,” explaining Trippie is a one-stop solution for all of these issues.
He also briefly hinted that he had begun a basketball career earlier but let it go for Trippie. Diew then showed how easy it was to use his app on a TV screen. One can simply select an airport and look at the list of all the restaurants, with their details, including the distance from the user’s location. One can even see where they are at the airport and be guided by the app to their destination. Inquiring about details, Robert Herjavec asked the contestant how many airports the app covers at present.
View this post on Instagram
Diew explained that the app had four airports, including San Francisco, Atlanta, and Chicago, as well as Toronto. But since the time he graduated, three weeks ago, the company has gotten nine airports on its list. At first, Lori Greiner liked Diew’s idea, expressing that the app had a lot of potential, but it was just too early, so she dropped out of the deal, according to Shark Tank Recap. However, the next thing the entrepreneur did seemed odd to all the other Sharks. Diew responded to Greiner’s move by stating he doesn't have a “rich uncle” to fund his dreams.
View this post on Instagram
Hearing the comment, Herjavec asked Ryan to first build a value for the company and then seek investment. Following these words, he too exited the deal. After the strict words of Herjavec, the guest shark, who has appeared on the show multiple times, Rohan Oza backed out as well. However, Barbara Corcoran asked the contestant not to feel discouraged and politely declined to invest. The contestant then received more constructive feedback from Mark Cuban, who advised him to focus on building value and demonstrating potential. Towards the conclusion of the episode, Trippie had no deal.
