A Bidding War Starts With Torque Safe's Pitch ! | Shark Tank AUS

Luke and Vanessa Gosden from 'Torque Safe' seek a $300,000 investment in exchange for 15% equity. Their business manufactures and sells safety switches for dangerous hydraulic torque tools - will this turn out to be one of the biggest investments from the Sharks?
An international sensation, Shark Tank AUS features entrepreneurs pitching for investment in the Tank from our Sharks, five venture capitalists willing to invest their own money in exchange for equity.
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[@theblackflame4002]

They were damn cool up there, no reaction one way or another. They listened, evaluated and made the decision, which tells me Andy is wrong thinking they couldn't run the company.

[@matthewbell4273]

Given that 50% is such a high percentage, it makes me wonder: Will the Sharks invest directly into the company in the usual way (in return for the company doubling the shares currently in issue), or will the Sharks be purchasing half of the already-existing shares directly from the entrepreneurs? With the first option, the Sharks would still (indirectly, via their 50% ownership of the company) be "holding onto" half of their AUD 500k, and so in truth would only really be "fully parting" with AUD 250k. The same concept exists at lower percentages too, but in my opinion at about 50% you really start to "feel" the problem.

[@dhavalsheth8657]

Andrew is shrewd and very smart!!!

[@normalplateletcount]

Apart from his lack of energy, he definitely sounds sure and confident about his stuff. I'd love to invest but i have no money lol

[@logic109]

Your out!

[@KBB-nf1dr]

Lack of energy you reckon? The man works minimum of 84 hours a week in the mining industry. And he’s come up with his invention. He’s just flown across the country is likely suffering jetlag.

[@Slim400_]

​@@KBB-nf1dryou cant tell that to people with an IQ of 7 though man..... You just cant. You cant teach someone to use more than 1% of their brain. They either have it or they dont. And this guy does not have it.

[@Sneakyblessed]

Good on ya guys, good deal for everyone

[@toppaindustries4343]

Smart product but very easy for manufacturers to add a similar controller to newer model units, and a factory incorporated unit will always cost less than aftermarket

[@fijijournal]

Why do you not just put the safety switch at the same place they have put the Torque safe item, then you have complete control and you don't have to have another person employed

[@osamahassan5841]

Super 👌🏻 love this 😊❤

[@shadaba.qureshi4367]

50% of entire company or 50% owner shares, if its former, they'll indirectly own half of 500K. I think 300K for 15% original ask should have been better for Luke & Vanessa. 500K for 50% is quite low. Company being valued at only 50% of its ask.

[@nestosauce]

Yeah that’s the “cost of the tank” but they got three sharks and need the business experts

[@KBB-nf1dr]

Why wouldn’t they just go to the bank?

[@Benicemedia]

Shark Tank Australia is so much better

[@freemang8189]

6

[@chrisbarry9345]

Wait so they're set up to possibly sell 800 units at a little over 2,000 profit each? That's a tiny overall profit even before any other business costs

[@nugsruleify]

1.60 million dollars what are you talking about did u go to school?

[@anonymous-yg1hy]

Profit is after costs. Profit is the money you are left with after all expenses are paid. The units sell for around $5,000 each.

[@LeviEnglish-um6ki]

second

[@TheSkyfullofballoons]

First