Some people will one day rewind and look back saying that the global pandemic was not all that bad. For Tye Davis and Parm Dhoot, it was a time when their creative minds started coming up with ideas. One of those ideas was the MuteMe illuminated button that lets users mute themselves easily during virtual meetings.
There will be no unnecessary background noises while the boss is making a serious presentation. But was the gadget innovative enough to catch the attention of the sharks?
MuteMe is a small and round-shaped device that you connect through a USB cable to your computer. After downloading the software you can quickly mute your mic while on a virtual call, just by tapping the gadget. That is easier than just using the mouse.
MuteMe has a colorful glow and lets you pick a color to suit your preferences. This lets you know when you are muted or unmuted. The system is compatible with all popular online conference platforms like Zoom and also lets others on the call know when you are muted.
Who Can Use MuteMe?
With the pandemic pushing more people to work from home, a MuteMe gadget proved helpful for the employees who were mostly involved in online meetings. Notably, it is practical for the people teaching online and also in audio production setups where the producers mostly speak into the hosts’ ears through earpieces.
As is evident from the MuteMe website, there are already many happy clients. They get 5-star reviews and although some units have issues, clients are happy with the support the company offers.
Even before it came onto the market, customers appeared enthusiastic, as seen from successful crowdfunding projects. The inventors, Tye Davis and Parm Dhoot, collected more than $280,000 via IndieGoGo and at least $150,000 from Kickstarter.
What Happened On Shark Tank?
This product was already on the market by the time the entrepreneurs went on Shark Tank. They aimed to scale their business and asked for $200,000 in exchange for 10% equity. They presented a practical pitch with their wives joining the show virtually. As of May 2022, the company is estimated to have a net worth of $550,000.
Their primary motivation for MuteMe was getting frustrated with not muting rapidly enough during meetings when working from home and having noisy kids in the background.
However, some of the MuteMe numbers are worrying. It costs $11.66 and sells for nearly $40, but some of the Sharks like Peter believed it could be made for less than $1. Furthermore, there were no impressive sales figures, although the stock was available in Staples stores.
The Sharks decided against investing in this project, despite Daymond offering $200,000 for 50% at some point. Lori Greiner opted out, and Peter Jones believed his team can easily make a similar gadget. Eventually, the pair had to leave without any deal.
Looking at the original products, it appears nothing much has changed for the MuteMe team. They are selling their gadgets online and in Staples stores. However, there is also a MuteMe Mini available for $19.99 that was ready for shipment at the end of January 2022.