5 Sharks Strike a Deal with xCraft Drones - Shark Tank

All 5 Sharks invested in the drone business with xCraft. Watch this scene from Shark Tank - Season 7: Episode 5.

[eddyvelasquez]

This is the business version of collecting all the infinity stones

[DavidBennet]

I would have died laughing if Mark made his own offer and stole it from the other 4 sharks, they'd have been so pissed

[iosxtrader]

Barbara: “Everyone is in, that’s why I’m out.”

[biologyenableswhatculturep]

Mark is so smart, he asks just the right questions

[Nathan-dgrh]

if Barbra was here she would of been the only shark out and ruined everything because she always finds a stupid excuse on why to go out.

[dylangarcia]

mark being scared to go in 300 grand is like a person who makes 100k a year being scared to pay seven and a half dollars

[jacobgamingpcpcgamer]

Is it just me or this show is entertaining??

[redshark]

The deal didn't go through, and xCraft has discontinued their retail services to focus on private, government, and military contracts. They also did another successful crowdfund in 2018.

[philippaul]

Just in case anyone's curious, Barbra just isn't in the same league financially as the other Sharks, that's why she constantly is "out". She just doesn't have the same level of money to invest in these companies as the other Sharks do.

[RADIO]

Robert, Lori, Daymond and Kevin: "We're In!"
Mark: Stone Face, LOL

[rapidrabbit]

So some backstory on this. First, this deal never actually closed. Many deals fall through after airing for a variety of reasons, like the underlying facts being incorrect, not holding up to due diligence, or just someone changes their mind. Getting 5 sharks to sign on the dotted line was always going to be difficult. They did a Kickstarter after the show aired and raised $170, 000. In 2018, they did a StartEngine funding campaign for $1, 000, 000. Their lifetime-to-date crowd funding has been $4.445, 000, and their lifetime sales have been $5, 000, 000. As you can see, they are not very profitable, despite still existing as a company.

The Sharks certainly could have brought a lot to this company, however there were a lot of red flags here I'm not sure they keyed on it. First, when have you ever seen the Sharks all jump on something that is pre-sales? When have you ever seen them jump in on something with a $6 million valuation that has barely sold $200k in merchandise? That's insane, and simply bad business on the fundamentals. There was no proof this could work in a very crowded market. Their forward flight gimmick never won their patent application, and now tons of drones in the market can do that. They are currently applying for a Department of Defense contract, but applying isn't the same as winning, and now they are a very expensive product in a crowded market.

I cannot state how shocking this was, that they were ALL willing to go into this with no qualms. Someone must have given them all Molly before this company came up. ☠

[coincarver]

I want to see more of what happened just before this clip.

[No----Spin]

wow the 60fps makes the difference. great quality

[athenian]

0:18
Mark was like" Something fishy is going on here"

[nczioox]

0:37 Mark be looking like the Godfather

[Dtqeel]

When Kevin says this: “I love that deal I’m in”
You know that he ain’t lying.

[Gyasipk]

0:39 I like how Mark looks very observant: “Well let me think.@

[ab]

They are now worth just $5mil

This deal was done at a $6mil valuation. Shows that too many hands are not as good as a few.

[brian]

Drone businesses and concepts are popping up like cancer today. I might as well strap some c4 to drones and approach the DoD. Pay off some college loans.

[SSC]

I still haven't seen this drone at any retail, so many others that are way more popular. sharks must be all like "wth were we thinking????"