ABC's Shark Tank: AI Startup gets $ 300,000 offer from Mark Cuban and Michael Rubin

Shark Tank: An AI based startup Bot-It caused 'Battle of the Billionaires after Billionaires Mark Cuban and Michael Rubin bid to invest in the Los Angeles-based company.

Bot-It

On Friday's episode of ABC's Shark Tank, Maurice Bachelor and Joel Griffith pitched their company Bot-It to the judges. Bot-It is a website and mobile app that uses AI to help people automate online tasks like booking appointments or making restaurant reservations.

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As per the founders a pro subscription would help people jump the line in getting any appointment or making restaurant reservations. While the question of bots making the experience bad emerged, Bachelor and Griffith said their technology actually helps individuals circumvent cheaters by getting real people in front of faceless bot armies.

"We want to help change the perception of bots amongst consumers,” Griffith said. “Bots aren’t always the bad guy. You can have one, too.”

This drew the interest of Mark Cuban and Michael Rubin.

Battle of Billionaires

This answer resonated with Rubin who said that he would disrupt himself rather have someone else to disrupt him. He further added that Arming consumers with bots could help give regular people a fighting chance to buy items at fair prices.

However, it was Cuban who first made the offer to Bachelor and Griffith, who asked for $150,000 in exchange for a 10% equity stake in their business.

“With all the new AI stuff that’s coming out, people are going to be more aware and more interested in doing these types of things if you can create the right interface,” Cuban said, offering $150,000 for 20% equity.

Rubin immediately asked Cuban if he would take him as his partner. But Cuban rejected saying, “I want these guys all to myself.”

After this, Rubin promptly offered $50,000 for 15% of Bot-It, marking a higher valuation than Cuban’s offer. This prompted another Shark Kevin O'Leary to remark “It’s a Shark fight. It’s the battle of the billionaires.”

Joint Deal

Even while the Bot-It founders received two amazing offers, they aspired for more. Bachelor and Griffith implored Cuban and Rubin to make a joint deal. The billionaires agreed, offering $300,000 for 30% of the company.

“This is the most important day of the Bot-It life,” Bachelor said. “To have both of those Sharks on our team right now is going to take us to the next level.”