Velvet Celebrity Digest

Fresh star stories with a cool online feel.

When two members of the MuteMe team, Parm Dhoot and Tye Davis, appeared on the ABC series in October 2021, they hoped to secure a $200,000 investment in exchange for 10% of their company. By the time of their appearance, they'd successfully raised $154,795 via Kickstarter and another $289,075 with IndieGoGo. In May 2021, the inaugural batch of MuteMe was sent out to over 8,000 buyers. The following month, the product was available in more than 1,000 stores across the country. The company had been valued at $2 million and seemed to be on the right path. However, the "Shark Tank" investors had concerns despite the $2 million valuation the founders gave the company. 

Investor Mark Cuban felt that the product should be given a significant social media push and was convinced that the founders didn't know how to properly sell the device to its internet following. Fellow Shark Kevin O'Leary shared a similar sentiment, believing that the MuteMe had no place in retail stores and should instead be a product sold only online. FUBU mogul Daymond John was the only one to make an offer in exchange for a 50% stake in the company, given some revisions he felt that he needed to make, which were pointed out by Peter Jones. He believed that MuteMe being an external quieting button was simply not enough to make a big impact in the world of technology. He also expressed concern about the high manufacturing cost of $11.66 per unit. John was later swayed by his fellow panelists' concerns and took his offer off the table.