Canadian Startup 'Spivo' Receives $200,000 Investment From CBC's 'Dragon's Den' for Game-Changing Selfie Stick
TORONTO, November 24, 2017 (Newswire.com) - Since the advent of the smartphone front-facing camera, selfies have taken social media, millennials and the world by storm. With this in mind and a selfie stick in hand, Canadian startup Spivo went head-to-head with CBC's hit show "Dragon's Den" last night with a product that solves a problem. They hope to leverage the Dragons' experience and capital in order to further scale distribution of their innovative product - Spivo Stick, the world's first 360-degree selfie stick. Adventurers simply mount their camera or smartphone onto the Spivo Stick and with the push of a button they can rotate the camera 180 degrees to capture every moment that flies by. Spivo approached the Dragons with nearly seven-figure sales across 60 countries and a deal they couldn’t refuse.
After riding in on a skateboard and BMX, the high-spirited co-founders pitched a $1,000,000 valuation to the Dragons.
I was so excited about the product I missed the ask
Arlene Dickinson, renowned entrepreneur
Once the Dragons finished having a blast testing the Spivo Stick, four out of six Dragons offered to provide Spivo with capital they needed in exchange for 20 percent equity in their business. Finally, Marc and Andre decided to partner with Michelle Romanow.
With confidence and charisma, founders Andre Bellerive and Marc Bjerring pitched their unique business to the Dragons and did such an outstanding job that tech entrepreneur Michele Romanow could not wait to join their team. She agreed to provide them with $200,000 for a 20 percent equity stake in the company, and the expertise they needed in order to take their business and their dreams to the next level.
The University of Ottawa graduates did their homework before showing up and knew that in order to blow the Dragons away, they were going to have to show numbers that proved their business was on a trajectory for success. They brought their product to the Dragons with international sales in over 60 countries through their ecommerce store, Spivo.com.
This was not the first time Spivo had to prove their worth to someone other than themselves. After struggling with an initial crowdfunding campaign on Kickstarter in 2015, Spivo was able to generate enough pre-orders through their website to convince an angel investor to back the company’s initial startup.
The Spivo Stick, a product that is both designed and manufactured in Canada, has been receiving tremendous support from content creators around the globe, the likes of which include YouTube superstar, Casey Neistat. The company recently launched the second iteration of the product, called the Spivo 360, which features many improvements over the original Spivo Stick.
YouTube superstar Casey Neistat also shows off his Spivo Stick in one of his videos.
The Spivo 360 is compatible with GoPros, smartphones and action cameras. Check out Spivo and learn more about the Spivo 360 today on their website: https://www.spivo.com/.
Spivo is currently offering up to 40 percent off for Black Friday.
The company also makes various accessories that allow the device to be even more versatile for travel and adventure. Whether being used for fun at the park or a backpacker’s trip to Thailand, Spivo lets you do you, and makes sure you don’t miss the moments right in front of you.
Source: Spivo Inc.
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