"Do some fun with it" — When Shark Tank investor Mark Cuban passes on MuteMe

Despite the sharks' intense attention, not every Shark Tank pitch results in a deal, and entrepreneurs occasionally go without an investment. MuteMe, a special illuminated mute button intended to enhance virtual meetings, was one example of this. For WFH employees who have trouble muting and unmuting during video calls, the gadget was marketed as a solution. Even while the sharks were attracted by the concept, Mark Cuban was not persuaded to invest.

In their thoughtful pitch, the founders discussed how MuteMe could solve common issues with online meetings. They highlighted the button's business potential among professionals and students while showcasing its smooth interaction with popular conferencing platforms. Mark Cuban was not persuaded that the founders had to figure out their selling techniques to achieve widespread success in spite of this.

"You've got to come up with a way to sell it. Do some fun with it on TikTok. You have got to be great content creators. You're a product and you haven't figured out how to sell it. I mean you're not even close. That's what I think you need to be successful at. So for those reasons I'm out," he said.

The founders had to leave the tank after getting rejected by all the sharks for different reasons.

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When MuteMe appeared on Shark Tank Season 13 Episode 2

In Season 13, Episode 2, MuteMe makes its Shark Tank debut with a novel illuminated mute button that facilitates smooth virtual communication. In an attempt to get the sharks to invest in their company so they could grow, the creators positioned their product as a necessary tool for students and remote workers.

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MuteMe creators' pitch on the show

MuteMe's founders, Parm Dhoot and Tye Davis, applied to Shark Tank with hopes of receiving a $200,000 investment in exchange for a 10% ownership position in their business. To make it easier for students and remote professionals to understand when they are being muted during virtual meetings, they unveiled their creatively illuminated mute button.

With $61,000 in sales from a Kickstarter effort, the device retailed for $39.99, with production costs of $11.62 per unit.

Although the pitch generated curiosity, the founders had to address questions regarding their approach to acquiring customers and the product's long-term viability in a changing digital workplace.

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MuteMe founders left the tank empty-handed

The founders of MuteMe were unable to persuade the sharks of the product's long-term feasibility as they did not impress with their sales data. Because he believed there was not a strong market fit for the product, Mark Cuban was the first to opt out.

Similar worries were expressed by other sharks. Lori Greiner and Kevin O'Leary questioned if MuteMe could rival the built-in mute features of current gadgets. The creators were left to walk away without a deal because none of the sharks made an offer due to concerns about scalability and market demand.

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You can binge on more such Shark Tank episodes on ABC.