Whatever Happened To Pavlok After Shark Tank?
Pavlok remains one of the most infamous "Shark Tank" pitches out there. It may be easy to judge this book by its cover and assume that things went downhill for the company, but "Shark Tank" entrepreneurs are often full of surprises.
The device was created by Maneesh Sethi with the intention of helping users conquer their bad habits. It's designed similarly to a watch and uses an accompanying app to give users a little shock anytime they are performing an undesirable habit. Using the app, customers can adjust the intensity of the shock if they feel it will better help curb their tendencies. Pavlok is named after the procedure developed by 19th-century Russian scientist Ivan Pavlov. Known as Pavlovian or classical conditioning, the theory behind it is that a behavior can be encouraged or discouraged using a specific outside stimulus. Sethi himself employed this method, hiring someone to slap him across the face whenever he was on Facebook. Over time, he realized the idea would translate well into a product.
Sethi started an Indiegogo for the product in 2014 that managed to bring in well over $284,000 from over 1,700 backers. As Sethi claimed during his "Shark Tank" segment, it has proven effective for nail biters, oversleepers, and binge eaters alike. But even with the best intentions, Sethi couldn't have foreseen what was awaiting him in the tank.
Kevin O' Leary had some choice words for Maneesh
On Season 7 of "Shark Tank," Maneesh Sethi came looking for a $500,000 investment for 3.14% in the company, inputting a $14 million valuation. But while Sethi hoped to shock the sharks with his idea, it would be him — and "Shark Tank" viewers — who would be left stunned by the outcome.
The sharks laugh as Sethi explains how the product works. After sharing where the concept originated and diving into the science, he shares some samples. At first, they are unbothered. But once Sethi turns up the shock settings, many of them jump from their seats. Throughout the presentation, Mark Cuban calls Sethi a con-artist, as the scientific studies he presents are from research done decades ago and not directly related to his product. Sethi reveals that they have only made $800,000 in pre-sales and prototypes. Cuban continues arguing against the absence of any clinical trials and Lori Grenier agrees with the sentiment.
The sharks begin dropping out, citing Sethi's lack of studies, obscene valuation, and complicated presentation as their reason. The only one left in is Mr. Wonderful himself, who is willing to offer the $500,000 as a loan at 7.5% interest along with the 3.14% equity stake. Despite liking the deal itself, Sethi admits that he would be willing to work with anyone except Kevin O'Leary.
O' Leary doesn't hold back, exclaiming, "Maneesh, you're an a**hole, Get the f**k out of here!" The sudden flurry of expletives leaves everyone stunned as Sethi exits the tank. In most cases, an entrepreneur would be ruined after such a presentation. But for Seethi, the controversy had the opposite effect.
Pavlok after Shark Tank
Pavlok's "Shark Tank" presentation didn't go quite as planned, to put it mildly. But when the dust settled, neither party regretted their decision. During an interview with Insider, Maneesh Sethi explained, "Going in I knew Kevin was not a great investor fit for our company. A lot of people don't realize investment partnerships are about way more than money. Business style and vision for the company need to align as well." Kevin O' Leary also offered a comment, stating that Sethi allowing his emotions to get in the way of a business deal automatically ended any desire he had to work with him.
Sethi may have been dead to O' Leary, but the feud only seemed to breathe new life into Pavlok. Nine months after the episode's filming, Sethi shared an update video on the company's YouTube channel. In it, he explained that 10,000 new customers have joined the Pavlok family and they refined the overall process of the product's usage. For users who are overeaters or nail biters, Pavlok implemented hand detection technology that vibrates your wrist to further prevent undesirable behaviors. Online users could also now benefit from their Chrome extension feature that helps set limits on tabs and blacklists sites.
The business also brought in more money from various sources. Sethi went on to secure additional funding from investors at IncWell and MassChallenge amongst others. Additionally, the company opened up a new Indiegogo campaign for the wearable alarm device, the Shock Clock. It brought in over $343,000, although many complained that they never received their clock.
Is Pavlok still in business?
Pavolk's "Shark Tank" drama seems to be a thing of the past. The business is still kicking today, even though they haven't reached the high valuation that Maneesh Sethi placed while on the show.
Their products are available on their website and on Amazon. Since launching the first Shock Clock, they have gone on to create successful Indiegogo campaigns for the Shock Clock 2 and Shock Clock 3. Similarly, a Pavlok 2 and 3 also exist and appear the be the latest models available. In an effort to build their community and further aid in habit breaking, the company started the Pavlok Challenge. Acting as a subscription service starting at $29.99 a month, customers looking to commit to a specific goal are given a Pavlok 3 and put in a Challenge Team. Together, they keep each other accountable and earn points while completing daily activities. The best teams receive discounts on following challenges and are granted cash prizes.
The company has been featured on various outlets and shows, including The Doctors, ABC News, and CBS to name a few. They remain active on Instagram, Facebook, Twitter, and YouTube, where they share helpful advice and news on special deals.
What's next for Pavlok?
Pavlok may have beaten the odds, but it is still relatively small compared to businesses that have struck a deal with the sharks. With a shark's help, who knows where they might have been at this time? But as Maneesh Sethi proclaimed on the show, making money isn't necessarily as crucial an objective to the team as much as making a difference is. So, how have they done in that pursuit?
In a 2017 interview with Aaron Goldsten, Sethi shared what his ultimate vision is for Pavlok. "I want 100% of the people who come into our ecosystem who say 'I will achieve this goal' ... to have a 100% chance of success," he stated. Sethi added that the company has another aim — to change 10 million habits in 10 years. It's no small feat, to say the least, but Sethi seems confident in reaching that milestone.
It's unknown if their 10 million habits goal has been reached or exactly when Sethi's start date for this objective was set. Nevertheless, they've certainly made an impact, with the site stating that 250,000 users from around the world are reaping the benefits of Pavlok and you'll even find sharks Daymond John and Richard Branson on their homepage.