Mirmir Net Worth Shark Tank Update 2025

Sean Spencer and Ryan Glenn wanted to change the way people experience photo booths. Traditional photo booths have poor-quality pictures that look cheap and childish. The photos are often never framed or shared online. Sean and Ryan created Mirmir to fix these problems. Their photo booths produce high-quality pictures that people would want to keep and share.

They pitched their business on Shark Tank Season 9. They asked for $350,000 for 10% of their business. The sharks were interested but had different views on the company. Will the entrepreneur get a deal on Shark Tank? Check out Mirmir’s update to find out!

Mirmir Net Worth Shark Tank Update 2025

Sean Spencer and Ryan Glenn asked for a $350,000 investment in exchange for 10% equity in their company, Mirmir. This meant they valued their company at $3.5 million. They made a deal with Robert Herjavec for $700,000 in exchange for 20% equity in their company. This new deal valued their company at $3.5 million. After the show aired, Mirmir 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 Mirmir is about $6.72 million.

Following its Shark Tank appearance, Mirmir kept growing. The business now offers more services and has more locations. Cities including New York, Los Angeles, Bangkok, San Francisco, Dallas, London, Toronto, Austin, and Tokyo are now home to their picture booths. Mirmir has also worked on major events, including the Oscars and Golden Globes.

By 2023, yearly sales for the company had risen to $24 million. Celebrities like Kanye West, Jay-Z, Kim Kardashian, and Taylor Swift also endorsed them. Sean and Ryan continued to move forward despite the failure of the deal with Robert Herjavec. They continued to expand their company and establish their reputation. Mirmir is still operating and doing a great job.

Yes Mirmir got a deal on Shark Tank. Sean and Ryan asked for $350,000 for 10% equity. After they presented their business, Robert Herjavec made an offer. He offered $700,000 for 20% equity in the company. Sean and Ryan accepted the deal. However, they did not move forward with Robert’s investment. Despite this, Mirmir’s business grew significantly. They still achieved great success and continued to expand.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Robert Herjavec	700k for 20% equity	N/A	yes
Kevin O’Leary	out	N/A	N/A
Daymond John	Out	N/A	N/A
Mark Cuban	Out	N/A	N/A
Lori Greiner	Out	N/A	N/A

Mirmir Shark Tank pitch

Both Ryan Glenn and Sean Spencer have a strong interest in business and technology. Their goal was to make the conventional photo booth experience better. Although many individuals enjoyed using photo booths at festivals, the low quality of the images left them unhappy. People frequently did not want to preserve these pictures since they did not look professional.

Sean and Ryan made the decision to design a photo booth that would produce excellent images. Their goal was to create a product that would inspire pride in one’s photographs. It was difficult to develop the product in the beginning. There was no technology to produce high-quality pictures in a photo booth. They needed to think of fresh ways to mix expert lighting with specialized software that would improve the photos.

The price of each photo booth presented another challenge for them. Making each booth cost $22,000, which was a significant financial commitment. Sean and Ryan invested about $250,000 in the company. Their goal was to make it work. As the business flourished gradually, it spread to other places such as Los Angeles and New York.

Sean and Ryan explained the issue with conventional picture booths to the sharks before introducing Mirmir. They claimed that the majority of the booths’ pictures are unattractive and of low quality. However, Mirmir’s photo booths, which used professional-grade lighting and upgraded software, generated excellent photographs. They were able to produce more shareable and flattering images as a result.

Their goal was to develop a photo booth experience that would be popular at high-profile occasions like weddings and celebrations. They disclosed during the pitch that their business had already generated over $4 million in revenue during the first three years. In New York and Los Angeles, they possessed nine picture booths that cost $2,750 for four hours of use.

They also offered an additional package with an assistant and social media promotion for $3,650. Despite the high costs, the business model seemed solid, and Sean and Ryan were seeking $350,000 for 10% of their business to grow further and purchase more booths.

The sharks had a lot of inquiries concerning Mirmir. Their goal was to find out how much money the business had made. Sean and Ryan revealed that within the first three years, they had made almost $4 million. These figures impressed the sharks but they sought further information about the company. Each booth cost $22,00,0, which they asked questions about.

Although this was a significant expense, Sean and Ryan were certain that the booths were worth it due to their superior quality and high cost. Mr. Wonderful (Kevin O’Leary) enquired about the company’s prospects for the future. He was curious as to how Sean and Ryan intended to monetize their picture booths going forward.

Sean and Ryan clarified that they intend to expand to more venues and events. They intended to set up permanent booths at specific sites as well. The sharks, however, were worried about the company’s long-term viability. The high price of the picture booths made them doubt if the business could grow. Mark Cuban was especially dubious about the company’s long-term sustainability.

Given how quickly technology was developing, he did not think the business could continue to be successful. The quickly evolving nature of technology also worried Daymond John, so he declined to make an offer. Lori Greiner chose not to accept the purchase because she was more concerned with maintaining the company as a premium service than with promoting it widely. Kevin O’Leary, on the other hand, saw potential in the company.

He offered a deal of $350,000 but with 18% interest on a loan and a 5% stake in the business. This offer gave Sean and Ryan more money upfront but included a hefty interest rate. Robert Herjavec showed interest in Mirmir. He liked the product and recognized it from his own wedding. He was very impressed with the quality of the photos. Robert also wanted more control over the business. Initially, he proposed a 50% stake in the company. After some negotiation, Sean and Ryan agreed to a deal for $700,000 for 20% of the company.

Mirmir elicited quite varied reactions from the sharks. Sean and Ryan were not getting a deal, so Kevin O’Leary offered a loan with 18% interest and a 5% stake. Mark Cuban declined the proposal because he did not think the business would survive. In addition, Daymond John passed away, expressing worries about evolving technology. Mirmir should remain a luxury service and not be mass-marketed, according to Lori Greiner, who was uninterested.

However, Robert Herjavec thought Mirmir had a lot of potential. Both the business strategy and the quality of the photographs intrigued him. In the beginning, he offered $700,000 for a 50% share. They reached an agreement to exchange $700,000 for 20% of the business after more deliberation. Sean and Ryan were happy with this offer and accepted it. However, the deal did not go through after the show.

What Went Wrong With Mirmir on Shark Tank?

While Mirmir did get an offer from Robert Herjavec, the deal did not happen after the show. The reasons for this are unclear, but it’s possible that Sean and Ryan did not agree with the terms of the deal or that Robert’s investment didn’t materialize. Despite this, Mirmir did not give up. The company continued to grow and expand. They did not let the rejection from Robert stop them from pursuing their dreams. They expanded their services and reached a larger audience.

Product Availability

Mirmir’s photo booths can be used for corporate events, weddings, and parties. Professional-grade lighting and software are used in the company’s booths to create stunning, shareable, and high-quality images. Depending on the services required, Mirmir provides a range of event packages with varying price alternatives.

The business is accessible in a number of global cities, such as New York, Los Angeles, Montreal, San Francisco, and others. Prestigious occasions like the Golden Globes and the Oscars have made use of Mirmir’s services. Additionally, the business is well-known on social media and has celebrity sponsorships.

Conclusion

Mirmir’s journey on Shark Tank was a significant milestone that showcased its potential to revolutionize the photo booth industry. Although the deal with Robert Herjavec did not materialize after the show, Sean and Ryan proved their resilience and determination. They continued to grow Mirmir, expanding to major cities around the world and earning high-profile clients like celebrities and prestigious events.

Mimir’s success story is a testament to the founders’ vision and adaptability. With its growing reputation and innovative services, the company is well-positioned to continue thriving and leading the premium photo booth market. The future looks bright for Mirmir as it continues to make memories last in style.