Beulr Shark Tank Update – Beulr Net Worth 2024

Everyone has had the feeling that going to a Zoom meeting is a waste of time, particularly if it’s a meeting where an email would have sufficed. Individuals always struggle to find a balance between doing meaningful work and attending nonstop virtual meetings. 

This is where Zoom attendance bot Beulr, created by Peter Solimine, comes into play. Beulr is made to attend Zoom meetings on your behalf, freeing you time to concentrate on other crucial work or perhaps get more sleep.

Peter joined Shark Tank hoping the Sharks, as well as the millions of people who were sick of virtual meetings, would find his solution appealing. He requested a $150,000 investment for 20% of Beulr, his company, which would help him expand his business and reach more people. Did the entrepreneur get a deal on Shark Tank? Check out our Beulr update to find out!

Beulr Shark Net Worth 2024

Peter Solimine asked for a $150k investment in exchange for 20% equity in his company. This meant he valued his company at $750,000. He did not make a deal with any of the sharks. After the show aired, Beulr saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Beulr in 2024 is about $1.10 million.

Beulr Shark Tank Update

As for Beulr update, Beulr departed without a transaction after Peter’s Shark Tank pitch in Season 13, yet the business continued to grow despite this setback. Beulr kept expanding despite the Sharks’ worries, and it currently has over 100,000 users. The service now integrates with Google Meet, as well as Zoom, demonstrating its extended functionality. This increases accessibility even more for consumers who are juggling several virtual meeting platforms.

Beulr is still in operation and gaining popularity today. Users are drawn to its distinctive AI-powered technology because it saves time and allows them to attend meetings they would otherwise have to sit through. Despite not receiving any funding from the Sharks, Beulr’s product has attracted a devoted customer base, and the company’s grown after the shark tank appearance. 

Despite pitching a novel product on Shark Tank, Peter Solimine could not close a transaction. The Sharks were worried about Beulr’s potential for sustainability as a business strategy and its ethical ramifications. They all declined the offer to invest, thus Peter was left without the much-needed cash boost.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Robert Herjavec	Out	N/A	N/A
Lori Greiner	Out	N/A	N/A
Kevin O’Leary	Out	N/A	N/A
Daymond John	Out	N/A	N/A
Mark Cuban	Out	N/A	N/A

Beulr Shark Tank Pitch

Beulr’s founder, Peter Solimine, had the concept during the pandemic’s peak, when working and attending school virtually had become commonplace. Peter used his expertise in software development to build a bot that could substitute for him during these seemingly pointless Zoom seminars and meetings. The desire to be more efficient and to recover time lost during protracted, frequently pointless meetings served as the idea.

Peter had a difficult journey. He had to first solve technological issues in order to guarantee that Beulr could operate with Zoom without a hitch. Peter struggled to scale the site and draw customers without significant marketing spending because he was a student when he established it with minimal initial investment.

Peter pitched Beulr as a special and innovative technology that could attend and record Zoom meetings on users’ behalf during the pitch. He described how the bot logs into meetings using Zoom credentials and even plays a user’s recorded video to give the impression that they are present. His demands were for $150,000 and 20% of the business.

The Sharks were doubtful about the company’s long-term sustainability, although the offering made sense for those looking to save time. They questioned if there was sufficient demand to support the price plan and turn a profit. In addition, several Sharks took issue with the moral dilemmas raised by sending a bot to attend meetings. Keep reading our Beulr update to see what happens next!

Robert Herjavec questioned how many people used the product. Peter responded to 92,000 people. He also revealed that he spent $300,000 on marketing 

Mark Cuban questioned why a subscription model rather than a one-time purchase was being used for the product. Peter admitted he hadn’t thought of that, which raised some worries for the Sharks about his business understanding.

Lori Greiner brought up the honesty issue, particularly in meetings when attendance is crucial, and said she wasn’t comfortable endorsing the product even if she thought students could find it valuable.

Another red signal was when Kevin O’Leary questioned the compliance element, especially for meetings where legal attendance is required.

Daymond John thought it may promote bad communication practices.

Because of reservations about income generation and Peter’s familiarity with AI technology, Mark Cuban decided against closing the deal. 

Lori Greiner was first drawn to the concept, but eventually found the ethical concerns unsettling, particularly in relation to meeting attendance. In a direct statement, Robert Herjavec declared the concept was “not a business” and that it could not make money.

Daymond John didn’t make a deal because he didn’t like the playful part of the pitch and was worried about Beulr’s promotion of a lack of interpersonal interaction.

Kevin O’Leary also withdrew, highlighting the hazards of complying with forced attendance at legal meetings.

Although Peter ultimately left the Tank without receiving an offer, his product received some important publicity.

What Went Wrong With Beulr On Shark Tank?

Beulr’s departure without an agreement was primarily motivated by concerns regarding ethics and long-term sustainability. A significant number of Sharks believed that deploying a bot to skip meetings could lead to communication issues and, in certain situations, even violate legal obligations. Concerns were also raised concerning Peter’s knowledge of AI technology and his preference for growth above income, both of which were at odds with the Sharks’ methods for making investments.

Product Availability

From our Beulr update research, Beulr provides subscription services and is accessible to users via its website. It used to cost $6.99 a month, but it has since gone up to $11.99. The solution is now available for usage with Google Meet and other virtual platforms besides Zoom meetings. Beulr has increased its visibility on social media, particularly on TikTok and Instagram, where it currently has 6,000 followers.

Conclusion 

Despite not landing a deal on Shark Tank, Beulr has kept growing and identifying its specific market. Beulr, which has over 100,000 members and integrations on many platforms, is showing the market demand for AI-powered remedies for virtual meeting fatigue. The company is still operating today and is working to improve its product even further to make it even more user-friendly. Even while it might not have been the Sharks’ best fit, Beulr’s future seems bright as it leads the IT industry.