Will Entrepreneur Elevator Pitch Investors Pass on a Hologram Zoo? | Elevator Pitch S12 EP1
Watch to see which contestants can convince our board of investors that they have invented the next big thing.
The season 12 premiere of "Entrepreneur Elevator Pitch" features contestants trying to win life-changing investments from legendary business titans like Netflix co-founder Marc Randolph, marketing maven Kim Perell and former NFL player and serial entrepreneur Dhani Jones.
Money isn't everything — an investor's experience can be way more valuable than the size of the check they're about to cut.
The season 12 premiere of "Entrepreneur Elevator Pitch" features contestants trying to win life-changing investments from legendary business titans like Netflix co-founder Marc Randolph, marketing maven Kim Perell and former NFL player and serial entrepreneur Dhani Jones.
Money isn't everything — an investor's experience can be way more valuable than the size of the check they're about to cut.
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00:01Going up.
00:03In this building, entrepreneurs looking to uplift their lives
00:08must convince a panel of elite titans that their dreams are worth making a reality.
00:16Oh, in only 60 seconds.
00:21Are you in or are you out?
00:23This season, the stakes are higher.
00:26The deals are bigger.
00:28I'd be willing to put in $300,000.
00:31I would do the $500,000.
00:34And the investors are ready to throw down.
00:37I'll do anything to get a deal.
00:38Let's play ball.
00:39Oh, whoa.
00:40It's a zoo.
00:42This is Entrepreneur Elevator Pitch.
00:47Presented by Amazon Business.
00:51Tonight in the boardroom.
00:54Mark Randolph, co-founder and first CEO of Netflix.
00:59Kim Perell, CEO of 100.co.
01:03Dahani Jones, a former NFL player and serial entrepreneur.
01:08Y'all look good, finally dressed in black. I love this.
01:11You know, I learn from the best when it comes to fashion.
01:13That's right.
01:14And I'm feeling pretty good. I'm ready to make a deal.
01:17First up, a pair of entrepreneurs hoping to create healthy habits everywhere with their innovative oral pouches.
01:39Going up.
01:41Hello, Dean and Mike.
01:43Welcome to the elevator.
01:45Your pitch begins in 3, 2, 1.
01:51Hi, my name is Dean Herkenrath, and this is my dad.
01:54And we started Decky's Caffeine Pouches to help people get off nicotine.
01:58Decky's comes in a clean, white, oral pouch with 40 milligrams of caffeine, infused vitamins, and no nicotine, no tobacco.
02:06Decky's is simple to use.
02:07Simply put the pouch between your upper or lower deck of your mouth and let stand between 30 to 45 minutes.
02:13Hi, I'm Dean's dad, Mike.
02:14The oral pouch market is the largest emerging market you probably haven't heard of yet.
02:18Over 100 million Americans use oral pouches.
02:21Decky's was launched this year to help them get off nicotine pouches.
02:25And then we got opened up to a bigger consumer group in the caffeine space.
02:29So a large distributor in the Pacific Northwest just picked us up.
02:33We are projected to be in 500 stores in the next 12 months with $1.5 million in revenue.
02:38And that includes sales on Amazon, TikTok, and Walmart.
02:41We are seeking $300,000 for 10% of our company.
02:44So if you're willing to shape and develop future generations of entrepreneurs, then here I am.
02:49Let's launch with Decky's.
02:52I love it when it's like a father and son, a family business, and they just come with so much energy.
02:57I'm kind of excited to hear a little bit more.
02:59Well, usually when I see a father-son, mother-daughter thing, one person is by far the dominant.
03:04And I can't tell who is dominant here.
03:07They both seem to have the numbers under control.
03:09I didn't know it was such a big market.
03:11So that was pretty intriguing to me.
03:13And they nailed the pitch.
03:15I saw the dad pop one of those in his mouth.
03:18So I'm a little nervous about what's going to come out of those doors if we let them in.
03:22So let's go to the vote.
03:24All right.
03:25Attention, Dean and Mike.
03:35Your pitch has been approved.
03:43Woohoo!
03:45Let's go.
03:48All right.
03:49Hi.
03:50Hello.
03:51Mike and Dean, come on.
03:52We're here.
03:53This is awesome.
03:54It's fantastic to see a father and son work together.
03:56Thanks, Johnny.
03:57Yes, sir.
03:58Yes, sir.
03:59So give us a little bit more background and history.
04:00Yeah.
04:01So I can give you a little background.
04:02I've played sports my entire life.
04:04And in doing so, I've been around nicotine tobacco products.
04:07It's just part of the game, part of the sport.
04:09And that really bothered me that there wasn't a healthy alternative.
04:11So that's when I set out two and a half years ago to change that.
04:15Decky's is an alternative to nicotine.
04:17It's actually a much better choice.
04:18What you have to realize is the evil villain in this is the nicotine pouch market.
04:23Tell me this is a compelling business opportunity rather than just an alternative to something more evil.
04:29The oral pouch market is about to blow up.
04:32It is a very effective transportation means, Mark, for not only caffeine, but we can put vitamins in it.
04:38We can put nootropics in it.
04:40Can we try it?
04:41Yes.
04:43Yeah, yeah, yeah.
04:44Absolutely.
04:45Let's get it going.
04:46Just put it in your mouth and go.
04:50Tastes pretty good.
04:51Yeah.
04:52Feels fresh.
04:53And, you know, the flavor is pretty consistent.
04:55How much have you done in sales this year?
04:57At the end of this year, we're going to be doing $125,000 worth of sales.
05:01But then in 2025 and 12 months from now, we're expecting to do $1.6 million.
05:06Remind me again of what you're raising.
05:08$300,000 for 10% of our company.
05:13I'll lean in here.
05:15I would be willing to do $150,000 at the $3 million valuation.
05:22Thanks, Mark.
05:23I love what you guys are doing.
05:25I love the father-son combo.
05:27I truly do.
05:28And it sounds like you guys are on to something big.
05:30I actually don't drink coffee in the morning.
05:33I really like to invest in things I'm very passionate about.
05:35So I don't think I can get really passionate about putting caffeine into myself every day.
05:40So unfortunately, I'm going to pass.
05:42Thank you, Kim.
05:43Thanks, Kim.
05:44You know, I kind of like where Mark's going with his investment.
05:49I like to match that investment.
05:52What we're also looking for, probably more than money, to be honest with you, is experience in the scale.
05:57We want someone who can help us get to 4 million units in the next three years.
06:02This caffeine market…
06:03I understand the emerging market.
06:05And I actually understand the people that can scale the business.
06:09I mean, if someone has a million followers, 2 million followers, you're thinking about the world of TikTok.
06:14While he might have created the streaming world, he hasn't understood the social world.
06:19I think it's important to understand the people that understand your business,
06:23that understand the soccer world, the baseball world, and the basketball world.
06:28I'll give you one thing.
06:29I think his connections in the world of sports would be invaluable, and I can't help you there at all.
06:34But I can help with the scale.
06:35I have multiple times.
06:36Underseen and helps navigate the stresses that come with going from a small business to being a very, very, very large business.
06:44Don't get caught up in his ways of creating an atmosphere of him being the only one that knows what they're doing.
06:53After that crack about social media, I'm going to do something else.
06:58I'm going to lower my offer just to make it clear the value add that I have.
07:05So he'll do 150, I'll do 125.
07:10Okay, gentlemen, we have two offers.
07:11What offer are you going to choose?
07:15Thank you, Kim.
07:28We're not going to look a gift horse in the mouth.
07:29We appreciate everyone having us here today.
07:31Mark, I have to choose you with myself.
07:36Are you serious right now?
07:37Are you serious?
07:38Are you serious right now?
07:39Are you serious?
07:44We have some news.
07:45At the end, it came between Connie and Mark, and we went back and forth.
07:49Ultimately, we chose Mark and worked out a deal with him.
07:59It's not over.
08:00Not over yet.
08:01Not over.
08:02That old man got the best of me.
08:04I'm coming for him.
08:05I'm going to win part of this deal.
08:07Okay, so don't count me out.
08:08I'm going to see the two of you soon.
08:10Oh, you betcha.
08:18Our next entrepreneur is bringing a nutritious twist to your Faberite breakfast foods.
08:32Going up.
08:33Going up.
08:35Hello, Narelle.
08:37Welcome to the elevator.
08:39Your pitch begins in three, two, one.
08:4597% of people see beans as a great protein, but only 35% of them find them easy to cook.
08:53I'm Narelle, founder of Full of Beans, and we're changing the 200 billion breakfast industry
08:58with our high-protein pancake and waffle mix that make it easy to enjoy all benefits of beans by just adding water.
09:06In our first year, our mix won an award, has been mentioned in major magazines as 2024's trend,
09:13and has been chosen by health-conscious moms, athletes, and plant-based eaters.
09:19We achieved $23,000 in sales with really limited spending,
09:23and sold out for two months, proving our product's potential and market fit.
09:29With 65% of these sales coming from retail stores, we are looking for $300,000 in exchange for 10% equity.
09:37This investment will allow us to get into 600 stores and make our first million dollars within a year.
09:44Talking about beans.
09:46Why is that going to be a big category?
09:48There's a big movement around plant-based foods, and so you're tackling that market,
09:53that's what she was referring to.
09:55The success so far in market of only $23,000 made me a little concerned about where are we at,
10:01and what is she going to do with $300,000?
10:04Maybe she's just at the very beginning of her amazing journey, and we could help continue it.
10:10Well, are you guys ready to vote and find out?
10:12I'm ready to vote.
10:14I'm ready to vote.
10:23Attention Norell.
10:26Your pitch has been denied.
10:33I'm feeling sad, but I'm happy I made it here.
10:38So I'm a little bit frustrated with both of you.
10:40You guys are always voting down the things that I want to vote up.
10:43I mean, you think about beans, who doesn't love a good bean?
10:45Yes, but a little bit more traction for such a big ass.
10:47You know, listen, I like the idea of beans, but I would have liked to have seen a path to more dough,
10:53if you know what I'm talking about.
10:55You were on the fence.
10:57Yes.
10:59Are you thinking what I'm thinking?
11:01I think I'm thinking what you're thinking.
11:03For sure.
11:05All right.
11:07I'm going to just keep doing what I've been doing, and I definitely see the future.
11:09Attention Norell.
11:11Your presence has been requested in the boardroom.
11:18Hi, Norell.
11:20Welcome to the boardroom.
11:22Thank you so much.
11:24First, I want to say I thought you did a great pitch.
11:26I love your passion.
11:28Personally, I wanted to see a little bit more traction.
11:30Yes, thank you.
11:32I, too, liked the pitch.
11:34What I liked, actually, is that you actually found a niche.
11:36The thing that was missing for me was how big that could be.
11:40It's unfortunate that we're not going to be able to make personal investment,
11:43but on behalf of Amazon Business, we'd like to give you $10,000 cash to help you grow your business.
11:50Thank you so much.
11:52Thank you so much.
11:54Would you like to try it?
11:56I was able to get the $10,000, which is amazing.
12:00And the best part is the investors tried my product.
12:03That's what I wanted.
12:05I'm super happy for that.
12:07You know what?
12:09It tastes pretty good.
12:11It's the best bean-based waffle I've ever had.
12:14Entrepreneur Elevator Pitch is presented by Amazon Business.
12:19For every organization at every stage of growth.
12:28Our final entrepreneur hopes to impress the investors with the projections of his industry-leading 3D hologram company.
12:44Going up.
12:47Hello, Bruce.
12:49Welcome to The Elevator.
12:51Your pitch begins in 3, 2, 1.
12:57Hello, everybody.
12:59I'm from Australia.
13:01Thank you for having me here in your beautiful country.
13:04We've all seen holograms in movies.
13:06Holograms are objects that look real, but they're made out of laser light.
13:10Our company makes hologram equipment.
13:11We make it for defense, for governments, for universities around the world.
13:16Last year, we moved into hologram entertainment and we opened the world's first hologram zoo.
13:22A hologram zoo is like a normal zoo, except all the animals are made out of laser light.
13:27They look real and act alive.
13:29You can put your hands straight through them.
13:31We have life-size elephants, giraffes.
13:33We've even brought the dinosaurs back to life.
13:36Time magazine gave us the award for best technology last year.
13:39In Australia, our trials have been highly profitable.
13:42We have sold five hologram zoos, sorry, 18 hologram zoos in the last five months.
13:48We now sell one a week and we're on track to sell 100 hologram zoos this year.
13:55It's a zoo.
13:57It's a zoo. Where was the numbers?
13:59Where was the valuation?
14:01Where was the revenue?
14:03Where was the ask?
14:05I don't understand.
14:07It's a pretty good pitch, though.
14:09I mean, the concept of it all sounds pretty intriguing.
14:12It's a hologram zoo.
14:14I love animals.
14:16But it's not real animals. It's a hologram zoo.
14:18Use your imagination.
14:20Well, let's see if we really want to see the hologram zoo.
14:24All right.
14:25Attention, Bruce.
14:27Your pitch has been approved.
14:29Bruce, welcome.
14:31I see that you've come color-coordinated for the day.
14:33But besides that, that was extremely articulate.
14:55Very articulate pitch.
14:57But you seem to have left a lot of stuff out,
14:59like your current traction, your revenue,
15:02what you're asking for.
15:04What's going on?
15:06So, hologram zoo has been very successful
15:09in a very short amount of time.
15:11Eighteen hologram zoos in the last five months have sold.
15:14We're now selling one a week.
15:16And where are these hologram zoos?
15:18All around the world.
15:20So, Atlanta, Austin, three in Canada.
15:22What?
15:23Australia now has a hologram zoo
15:25just in the last five months.
15:27What does it cost to buy a hologram zoo?
15:29At the moment, we're charging about $400,000.
15:32It won't always be hologram zoo.
15:34We're secretly working on hologram arcade.
15:37I've already got Space Invaders at home
15:39where they're all flying around in the air all around me
15:41and we're shooting them.
15:43Show us your demo.
15:45Sure.
15:47So basically, the walls project real depth.
15:49As you're walking along,
15:51everything really does feel like
15:53it's all around you.
15:55If flower petals fall down,
15:57you hold out your hand,
15:59they go through your hand and out the other side.
16:01This is the sort of technology we're originally making
16:03for defense and governments around the world.
16:05And this is the first time we've taken
16:07that military-grade technology
16:09and brought it to where the public gets to use it.
16:14How big is the business?
16:16We're up to $120 million valuation.
16:19It reached $80 million valuation
16:21before it was selling anything.
16:23When it was ready,
16:25these things were selling in all directions.
16:27Prime Minister Modi of India
16:29used our hologram table
16:31to unveil Asia's largest airport.
16:33We made the hologram aquarium room
16:35in Bill Gates' Four Seasons luxury hotel
16:37in the Maldives.
16:39You're talking about the next technology revolution.
16:42AI is the soul, holograms are the body.
16:45This is sort of where things are going from here.
16:47It's really impressive.
16:51How much have you raised?
16:53And how much are you looking for today?
16:55$2 million would be lovely
16:57in helping us to move into America.
16:59So you're going to bring manufacturing here,
17:01you're going to bring people here,
17:03and that's what you're going to utilize the capital for?
17:05Yes.
17:07Do you have a revenue forecast?
17:09At the moment, we do about $1 million a month
17:11with a little bit of expansion money now
17:13to be able to move into the U.S. and other markets.
17:15Then I think we're looking at $25 to $40 easily.
17:20I love this.
17:22But I'm an early stage guy.
17:24I spread money around and I've done okay,
17:27but I don't have the money to spread $2 million
17:30around multiple, multiple, multiple times.
17:33So unfortunately, despite how enthusiastic I am,
17:36I passed.
17:38I am impressed.
17:40My four kids would love to go to a hologram zoo.
17:43I like marketing.
17:45I'm an early stage investor
17:47and it seems you're not early stage at this point.
17:48So unfortunately, for that reason, I'm out.
17:53There's so many new businesses that are out there
17:56that are leveraging the world of artificial intelligence,
17:58but I never thought about holograms.
18:00Never thought about holograms.
18:02I'll make you an offer.
18:04$500,000 for 4%.
18:08Thank you for your very kind offer.
18:12Respectfully, I must decline.
18:15We would not be able to drop below $100,000
18:18at the $120 million valuation.
18:21So what's your offer back to me?
18:24Gamble $200,000 at the $120 million valuation.
18:30Maybe there'll be a better opportunity in the future
18:33for you to put in more as it's rising.
18:39Deal.
18:44It's a real handshake.
18:46He's real.
18:48To have the deal with Dhani,
18:50we really, really needed someone in this country
18:52to be able to help us to navigate through it all.
18:58Tune in next week as entrepreneur elevator pitch continues.
19:02Wow.
19:04I love that they pivoted.
19:06This is all music to my ears.