Crowd Compass Shark Tank Update — Shark Tank Season 17
A network-free GPS device built for festivals and crowded events, Crowd Compass keeps groups connected when phones fail.
Christopher Dimoff entered the stage of “Shark Tank Season 17 Episode 10,” with a vision to connect people with each other without the need for mobile networks. He pitched his brand, Crowd Compass, which is a device that can be used in crowded locations with no network to communicate or connect.
The presence of guest Shark, Alexis Ohanian, made his pitch even more interesting and appealing.
Now the big question is: whether the Sharks will get onboard with Chris or will they decide to pass?
About Crowd Compass
| Category | Details |
|---|---|
| Business Name | Crowd Compass |
| Founder | Christopher Dimoff |
| Industry | Technology |
| Product | A compact GPS tracking device |
| Investment Asked | $150,000 for 10% equity |
| Deal Status | Deal secured with Kendra Scott and Daymond John |
| Deal Outcome | $150,000 for 20% equity split equally between Kendra and Daymond |
| Valuation | $1.5 million |
Christopher Dimoff learnt web development skills and entered the market in 2015, working across various organizations. He started as a Full Stack Developer at Rad Nine Software and ultimately became a Full-Stack Engineer and Architect at Airbnb in 2019.
The idea of building his brand occurred to him in 2022, when he visited a Music Festival and, due to poor network and cell service, was unable to connect with his friends. Thus, he launched the brand in 2024, after building his first prototype following conversations with potential customers on Reddit.
This device does not require network connectivity and provides 24 hours of battery life. Also, it provides accurate GPS tracking within a 3-mile radius. Chris also developed a mobile tracking application that allows friends and families to send offline messages and connect.
The brand is certified by the FCC, which adds another layer of credibility, and has recently announced features like Radio Modes and Waypoints.
Now, let’s have a look at the pitch and how the Sharks reacted. Of course, the presence of Reddit’s founder as a guest Shark made this even more interesting.
Crowd Compass Shark Tank Pitch
Chris appeared on the Tank seeking $150,000 in exchange for a 10% stake in the brand, valuing the company at $1.5 million. He presented the device to the Sharks, and most of them perked up at his idea. The feature that this device bypasses cell-phone towers and can be used by families with children impressed the Sharks.
Kendra Scott was the first one to relate to the product. Even Lori Greiner found it interesting, but she wanted to know how it works. Chris responded that each dot on the compass represents a person, and that is how people can connect.
Kevin O’Leary asked about the market space and how much sales he had generated, which totalled $384,000 in just 14 operational months. Chris also stated that sales could have been much higher, but the constraints are on inventory and working capital.
Additionally, he shared that the retail price of the product was $199.99 per unit, but a four-pack would cost $179.99. Also, the average landing cost of the device was $51. The founder also stated that he has sold 2,555 units and, as Kendra suggested, has been considering a rental business model.
Lori Greiner asked Chris if he could convert and fit this into a bracelet, and the founder responded, “Yes,” but Kevin raised the same concern. However, the compass’s large design was due to its three AA batteries.
The controversial moment came when the founder told the Sharks he had a direct competitor. While he was promoting his idea on Reddit, a music festival compass appeared, where you can connect with your friends using LEDs. Of course, the Sharks were skeptical about the product after this.
Nevertheless, let’s see what is unique about the Crowd Compass and whether Chris was able to secure a deal.
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What Makes Crowd Compass Unique?
There are various reasons why Crowd Compass stands out. Let’s list some of those reasons:
- The device works without a cellular network or Wi-Fi. This makes it perfect for remote locations, outdoor events, and festivals, where signals are jammed or unreliable.
- Friends and even families can connect without using third-party networks. Also, they can send offline messages and see the map.
- The brand has built an accessory ecosystem that includes protective cases and retractable lanyards for safety and convenience.
Did Crowd Compass Get A Deal On Shark Tank?
Due to the direct competition the founder faced and the competitor’s lower price of $79.99, all the Sharks were forced to think twice before jumping onboard.
Kevin O’Leary clarified that if he is going to invest in the brand, he would definitely need a royalty. He offered $150,000 in exchange for a 20% stake, plus 10 cents royalty until he recoups $450,000.
Alexis Ohanian, the guest Shark, bowed out of the deal because the business was in a very early stage. Even Lori Greiner backed out because the device was huge, and the Sharks wanted a smaller version that would be easy to carry.
On the other hand, Kendra Scott and Daymond John teamed up to offer a deal based on Chris’s claim that he can redesign the device. They offered $150K in exchange for a 25% stake, without any royalty.
After getting two offers, the founder really struggled to make a choice because he did not want to pay royalties, and the maximum equity he could offer was 13%. However, Chris asked Daymond and Kendra to lower the equity to 20%.
After extensive discussion and negotiations on the Tank, Kendra and Daymond accepted the founder’s counteroffer. Thus, the deal was closed at $150,000 in exchange for a 20% stake.
Crowd Compass Shark Tank Update
After appearing on Shark Tank, Crowd Compass’s visibility and traction have increased drastically. Also, they are currently running a special Shark Tank offer for customers. They are offering 45% off on the original price, and it is available for $109.99 for a limited time.
Where Can You Buy It?
You can purchase the product from its official website, as right now it is in an early phase. Also, you can check the Instagram page for more updates.
Quick Summary
- Christopher Dimoff entered the Tank asking $150,000 for 10% equity in his brand, Crowd Compass.
- Crowd Compass is a device made for music festivals to connect friends with each other without the need for any mobile network or Wi-Fi.
- The deal was secured with Kendra Scott and Daymond John at $150K in exchange for a 20% stake.
