Da Vinci Eye Shark Tank Update – Net Worth 2024

Da Vinci Eye, a mobile app serving as an art projector, revolutionizes the drawing experience by seamlessly projecting any image onto drawing paper, enabling users to create flawless drawings. The brainchild of Sam Gherman, this innovative smartphone art projector app was established in 2018.

On February 2, 2024, Apple Vision Pro made its official debut, introducing a groundbreaking concept that displays digital content on an invisible screen. This cutting-edge technology draws inspiration from the success of Da Vinci Eye.

Sam Gherman, the visionary behind both ventures, stepped into the entrepreneurial spotlight by appearing on Season 15, Episode 16 of Shark Tank. During his pitch, Gherman sought $350K in exchange for a 5% equity stake at a $7 Million valuation in Apple Vision Pro.

Da Vinci Eye Net Worth

Sam Gherman asked for a $350k investment in exchange for 5% equity in Apple Vision Pro. This meant he valued his company at $7 million. He did not make a deal with any of the sharks. After the show aired, Da Vinci Eye saw a big increase in user engagement, app ratings, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Da Vinci Eye is about $8.27 million.

Da Vinci Eye Shark Tank Update

Gherman pitched an interesting story and asked for $350k for 5% equity at a $7 Million valuation but due to his sales and numbers, sharks got uninterested and bored and didn’t offer any deal. 

What happened to Da Vinci Eye after Shark Tank?

Da Vinci Eye was getting popular, and when it appeared on Shark Tank, it became even more famous. After the show, lots more people started using the app, and its ratings went up. More folks noticed it and liked it. Being on TV not only showed that the app was cool but also made more people interested in trying it out. Now, Da Vinci Eye is known by many people who like new and innovative things.

Did Da Vinci Eye get a deal on Shark Tank?

No, Da Vinci Eye didn’t get any deal as sharks felt that the number game was so murky and confusing.

Shark(s) Involved	Offer Made	Demand	Counteroffer	Accepted?
Daymond John	Out	N/A	N/A	N/A
Kevin O’Leary	Out	N/A	N/A	N/A
Lori Greiner	Out	N/A	N/A	N/A
Mark Cuban	Out	N/A	N/A	N/A
Daniel Lubetzky	Out	N/A	N/A	N/A

Founders and BackStory

Samuel Gherman is a guy with a lot of skills. He finished college at Montclair State University in 2010 and then went on to get his MBA at Hofstra University. He started working in marketing and brand management at MallStand in 2012. After that, he became the big boss as the Editor-in-Chief at Awesome NJ, a website for college students.

Apart from his regular work, he’s also been into something called mentalism since 2004, showing his creative side. While working at Macy’s from 2013 onwards, Gherman started his own business called Da Vinci Eye in 2018 with Charissa Castillo. They made a cool app for your phone that acts like a projector for art.

This app is a big deal because it lets artists project pictures onto different surfaces like paper or walls, making it easier to trace and create art. The app uses smart technology to make sure the projected image looks just right, helping artists turn their ideas into real artwork easily.

Da Vinci Eye changed how artists use projectors. It’s not like the old ones – it’s better. You can make big art without needing grids, and you don’t have to be in a dark room. This app even has a special tool that helps compare colors, making the artwork look super realistic. It’s a handy tool for artists, and it’s different from the usual projector stuff.

Initial Pitch

Da Vinci Eye has three apps for people who like to create art. There’s Mural Maker and Doodle Grid for iPhone users, and an app called Da Vinci Eye: AR Art Projector works on both Android and iPhone. The iPhone version is free, but you can pay $29.99 a year for extra stuff. Sometimes, they have sales, so you might get it for $19.99 a year, which is a good deal.

Using an Android phone, you can get the app for $9.99 a year. You don’t have to commit to a subscription, and if you don’t like it, they’ll give your money back quickly. To make the most of the app, it’s suggested to use a phone stand, especially if you’re drawing on a table. It helps keep things stable, especially when using the AR mode. For bigger paintings, a phone stand with a secure clamp is handy and versatile.

Their website has easy guides to help you figure out how to use the app. Da Vinci Eye is changing how people make art by combining art and technology. Artists all over the world like it because of cool features like AR projection and simple guides. It’s not like the usual art tools and brings in a new era of creative possibilities that will last a long time.

Queries about the Pitch

When asked about his sales, Samuel took a while to answer, and the way he did it made the Sharks even more annoyed. He told a long story that didn’t include a clear number that would convince the Sharks to invest.

Daymond John was the first to quit because he was frustrated with how long it took for Samuel to respond. The other Sharks also thought he should have been more direct, with Lori Greiner saying the pitch was “very confusing.”

Shark Responses and Final Deal

In 2021, Da Vinci Eye earned $890,000 in sales. The following year, in 2022, they made $860,000. However, in 2023, they realized that selling the app just once wasn’t a good business idea. So, they changed to a subscription plan.

Now, you can get the basic software and AR Art Projector for $19.99 per year. This switch to subscriptions helped them make one and a half times more money than the previous year.

But, when the investors heard these numbers, they weren’t thrilled. They asked questions about how fast the company was growing and how they planned to make more money. Sharks didn’t offer any deal as Gherman didn’t answer questions about sales and failed to impress the judges.

What Went Wrong With Da Vinci Eye On Shark Tank?

The company had a tough time on Shark Tank because when the investors asked about how well the business was doing and how it planned to make more money, they didn’t get good answers.

When the Sharks wanted to know about the company’s sales, the person running the company, Samuel, didn’t give a clear and quick answer. Instead, he told a long story without giving the Sharks the specific number they needed to hear.

Daymond John was the first to say no to a deal because he got frustrated with how long it took for Samuel to answer the questions. The other Sharks felt the same way and thought Samuel should have been more direct. Lori Greiner even said that the pitch was “very confusing.”

In the end, all the Sharks decided not to invest because they didn’t get the clear and convincing information they needed. The slow and unclear responses from Samuel, along with the overall confusion in the pitch, led to the company not getting a deal on Shark Tank.

Da Vinci Eye Availability

Da Vinci Eye offers three apps tailored to fit the creative needs of its customers. Mural Maker and Doodle Grid are made exclusively for iOS users, ensuring a smooth and creative experience unique to Apple devices.

If you’re into augmented reality art projectors, Da Vinci Eye: AR Art Projector is an option available on both Android and iOS. While the iOS version is free, users can enhance their experience by upgrading to the premium version for $29.99 per year.

Often, there are discounts, letting users access advanced features for $19.99 per year, making it a budget-friendly option. Android users can get the app for $9.99 per year, ensuring a diverse user base can enjoy their tools.

These purchases aren’t on a subscription basis, and if someone isn’t happy with the app, Da Vinci Eye promises a quick refund. To make the most of the Da Vinci Eye experience, using a phone stand is highly recommended.

This accessory is especially handy when working on a table, providing stability for sketching and using the AR mode. For those who love creating murals and larger artworks, a phone stand with a sturdy clamp offers versatility and convenience.

Conclusion

No matter how great your product is or how well you pitched it, if you can’t answer questions about your sales, investors are likely to walk away. Clear and transparent communication about financial performance is crucial in gaining investor confidence. Failing to address inquiries about sales could deter potential investors, regardless of the product’s quality or presentation.