In a recent episode of ABC’s “Shark Tank,” the billionaire mark cuban And the rest of the panel declined the investment opportunity with the Green Bury startup. Return home,Thank you for reading this post, don't forget to subscribe!
According to CNBC report, micah trumanThe CEO of Return Home sought an investment of $2 million for a 5% stake in his company, valuing the startup at $40 million.
The Washington-based company, which turns human remains into compost within 60 to 90 days, presents itself as a cost-effective and eco-friendly alternative to traditional funerals and cremations.
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However, Truman’s challenge failed when he admitted that Return Home was a “money-losing company” that had revenues of $350,000 in 2022. Cuban and fellow shark Kevin O’Leary Questioned how the company’s valuation could almost double from the previous $20.6 million in just one year.
Truman attempted to upset the judges with “brand grab” tactics, stating that many funeral homes are not good at marketing.
Despite the potential environmental benefits of the service and the logic of “brand grab”, the Sharks were not convinced about the financial feasibility of the startup, especially given the current cultural and religious challenges facing the human composting industry.
“Micah, you blew it. I’m out,” Cuban told Truman.
Truman is confident in his company’s valuation, seeing his method as a major shift in the death care industry and a necessary alternative for the environment.
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Photo: Courtesy of Gauge Skidmore on Flickr
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