Parkhound Founders REJECT Investment Worth $400,000 | Shark Tank AUS

Parkhound - a share market for parking. Another double-sided market place, like Uber and Air B&B. This time it was about parking spaces but like any other tech business, the valuation is incredibly high.Robert Crocitti & Michael Nuciford are seeking a $400,000 in return for a 10% equity stake.
Company Website: www.parkhound.com.au
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.
As Seen On Shark Tank Australia Products: amzn.to/2ZJBbyf
Shark Tank US Products Collection: amzn.to/3bMNjmI
#SharkTank #ParkHound #LoanSharks

[@hydrastrategy6844]

Steve: “You sound like you are from Victoria, are you?” “Yes.” Steve’s database has grown so large he knows where people live before asking

[@alneshsomji5403]

Nooiiiice

[@andrewhernandez1275]

Money buys info...

[@mauricecarvalho4122]

The AI is learning fast

[@user-wickedflower]

Lols

[@SuperpowerBroadcasting]

Lmao

[@rishishenoy]

When somebody says NO to them they start calling it arrogance. LOL this is funny !

[@versatilebxngpromotion3220]

Having a shark in your team is always a good thing you must be stupid to walk away from that even with a hight %.

[@paradox5434]

@@versatilebxngpromotion3220 your acting like a shark is the only angel investor sure they are the top in there industry but much better investors

[@andrewhernandez1275]

That's how they shape the image that they are the best and everything they touch succeeds but they always want huge profit as opposed to less...when they've already got a network to make things easier and faster but they still act like they're gonna do alot of leg work when in reality the offices doing the legwork make less than $18 /hr per employee....it's easy to see why someone with less money would want a bigger portion for the effort but they're talking crumbs when they offer 150k or so, even 1 mill today only buys you a suburb 2 story house..... generally 1 million is pretty low now for the level of income people have been making more recently and the face that there's multiple times more millionaires than there was 20 years ago... they're not that rare now.... imagine PewDiePie has the money to invest....but he would actually have to do alot of work because he doesn't have a network....big players are supposed to be able to give deals because of how much they have even if it's just to ensure control of a promising new company...once it only takes 5 calls or less to get a product out,you shouldn't be asking for 40% which is basically predicting future predation through loans and equity on the smaller guys....

[@andrewhernandez1275]

@@versatilebxngpromotion3220 it's only stupid if you have an idea and are not business savvy. Then it's better to take what you can and let the sharks run it and you make money off the idea and do less work ...but if you understand business and can make calls and get the right info,you might become a shark instead of a fat guppy

[@TheAxeliono]

I don’t even think they were being arrogant. They were just willing to work harder to maintain a higher percent rather than easy out for lower

[@legatoblues4185]

I feel that this clip gives a good look into Steve's character. A straight shooter, he might be blunt but he's definitely genuine. Top bloke.

[@coldsteel5841]

That's just like me I'm like steave cause I'm rich

[@kcc-karenschroniccorner9432]

He’s the best.

[@TheDirtmonkey123]

@@coldsteel5841 ii

[@coldsteel5841]

@@TheDirtmonkey123 daym bro I'm cringing at myself now from a year ago lol sorry bro

[@SuperpowerBroadcasting]

Steve's based

[@sauravroy7177]

Loved Steve's reason for not giving an offer...... One techie should be involved as business partner...

[@nzdefrag]

Tech guy could quit then go start his own company doing the same thing, but without the bugs he purposely put in for the first guys.

[@JewTube001]

@@nzdefrag that's why they need to be an actual partner. people are much more loyal when they have a fair stake, because then they're just being loyal to themselves.

[@anatolidanev1521]

Steave is right. The whole company depends of that one guy and if he wants to fuck them over, he can do it in no time. Or if the company gets bigger he can ask for big % of the company or just destroy them.

[@nzdefrag]

@@anatolidanev1521 exactly, it was what I was trying to get across to Saurav Roy. Cheers

[@sauravroy7177]

@@nzdefrag I didn't considered that.... good point...🍻

[@robmarrin6720]

Steve is totally right, the developer needs to have a reason to stay with the company, it's so short sighted, the developer could easily change the program to suit a new company his/her and set up themselves.

[@Rafael-qx2ye]

Yeah, people often overlook the importance of having a long term CTO in the company.

[@matthewbell4273]

Yes, that's an interesting & smart investment rule that Steve has on that topic.

[@tonydarcy7475]

The business was a success. I still use them to book my parking spots at University since it’s the only way to find a car spot within a reasonable distance.

[@Songs-lr4wt]

I wish they had this app around the globe, esp I city like new york, where finding parking spot is more difficult then finding a GF

[@thestig2382]

"you can never be arrogant in business" well then explain Shark Tank USA

[@brian_d_1999]

The Stig 23 lol

[@eriknielsen1849]

The sharks tryed to rob them and they said no thanks. It's the f.. sharks being arrogant

[@coldsteel5841]

Well you seeee

[@brooklynbound0]

Liam Sweeney lol “culture”

[@jamesmcginn6291]

@@eriknielsen1849 Yes, it was arrogant of the shark to have accused them of arrogance, in my opinion.

[@kingofspades3000]

“You can never be arrogant in business” whilst trying to undercut his potential partners by a third of their evaluation.

[@ProfRoofs]

Arrogance?? Nooo... I think Glen is just upset he didn’t get the deal 😂 He liked the dog logo 🐕

[@magusxxx]

I can see them being required to change it since it could cause confusion. It looks a lot like the signs we have in the U.S. meaning pets are allowed.

[@prospectnyc]

Smart guys. They sold Parkhound in 2017 and became millionaires.

[@KGCA2]

You are milllionaire when you have 10-20mill not 1-2mill😀

[@azku]

@@KGCA2 When technically you are a millionaire when you have at least a million dollars.

[@KGCA2]

@@azku so you spend a 1$ from 1mill and you dong have i mill anymore haha.

[@azku]

@@KGCA2 Yes technically

[@Frontalemonade]

Sold for 2.7 I think, bought by a start up company doing the same thing

[@jj13660]

Glen and Naomi was overconfident that they will get the deal coz they have no other offer. But it was a little slap on their arrogence too.

[@wasimsajzad9908]

Angel preet true that 😝😝

[@Straightupshooter]

No arrogance at all. Good call. I would have rejected the offers too.

[@cena-m2863]

Jenny phoned in from U.K. she’s out the reason for that loan was declined

[@jeeroylenkins3081]

Stop.

[@SabheeZ]

AHAHAHA! OMG😂😂

[@ysesq]

good call. they made 2.7mil and sold the biz

[@wavysheep]

Nice research mate 😉

[@prospectnyc]

$2.7mil was how much Spacer raised before the Parkhound acquisition. The total Parkhound buyout amount has not been disclosed.

[@Ethan-hm4qr]

Severely undervalued imo.

[@shrijitasgable]

So standing up for your business is arrogance? Good on them to walk out.

[@harryvanderveen773]

I don't think they were arrogant at all, they just had other options and if you think your company is worth more, good on you for not taking the offer.

[@saranshgautam6551]

Yeah these Sharks say such things when someone stands up for themselves. Good on them for knowing their worth.

[@umu]

The coronavirus hit and no one needed parking.

[@harryvanderveen773]

Was thinking exactly the same

[@brooklynbound0]

No shit... it was probably prerecorded

[@Ericshizz]

That's because everyone stayed home, everyone has a home..... But not everyone has a spot to park for work or special events or family gatherings etc....

[@tonydarcy7475]

That was after they sold the company to Spacer though so they don’t care.

[@volf8586]

They came on to get TV exposure. They didn’t need 200k, they needed exposure, and Shark Tank gave that to them.

[@scarygary5678]

These Aussie sharks have such little cache that people are straight up walking away from them because they know they’re the same as any other investor. There are no Mark Cubans or Kevin O’Learys in Australia.

[@Bookofwords]

can never be arrogant in business? all i see from businessmen is arrogance

[@medo-io7gd]

Much love from Dubai. Love what you guys do.

[@RiverDanube]

What's so funny is that the Sharks think they are the be all and end all. There are other business people out there, with more money and a higher profile.

[@Smood47]

I doubt they have other investors that are higher profile (more famous) than the sharks.

[@SHA-NN-ON]

They did not come here for a deal, they were here for a national TV free advertisement ;)

[@imfamouswarrior2976]

bud the valuation of their business was cut in a third they went in with an idea of value for their company and didnt crack under pressure and lost a third of their business when they werent prepared to. thats called having confidence.

[@lus]

@@imfamouswarrior2976 Company sold for $2.7 Million years later. Mine company is worth $8 million. lol. trust me they came for attention.

[@weedrage]

PR stunt, the loan was a good idea because they good cashflow. I liked Steve for those comments

[@Esmanos]

To me it seemed as if they just wanted to promote their business on tv. Considering they had other potential and interested "investors" this promo did help them get more users and get money from the other investors for less equity. But they sold their business for 2.7mil which is very little for me. Shame but at least they made something to survive on.

[@RizzoDaManiac]

Even though I could use this I would never use this. It’s just not THAT hard to find parking. And I live one of the largest cities in the US.

[@melissamcclain34]

Parkhound was purchased by Spacer for 2.7 million dollars....

[@valyria13]

I know she wanted a high equity stake, but I think Janine would’ve been great for this. They need a strong core brand strategy and a marketing edge. As a brand innovator, that’s Janine’s bread and butter. But Naomi and Glen would’ve been great too. They lost a great opportunity on all 3 deals.

[@ambalina]

They just came over for a free commercial.

[@Saadali-ub6bv]

What's with the high valution excuses? Their offers are never according to stated valuation

[@raaz3338]

they are but they are investers and proper business man they get things for cheap and sell it with significant margin...

[@robmeyer8863]

Isn’t it hypocritical to call them arrogant for saying no? Pretty narcissistic ijs

[@GS-sm3jo]

Janine's smile is perfect. She's such an intelligent, beautiful and classy woman.

[@nath-wp7xp]

G S well said mate. Season 3 she looked her best. Really beautiful.

[@momentumcharting6700]

Love the MS Paint logo. Screams “massive valuation”.

[@sagar5238]

They always ask more and more. They are so greedy.

[@tasnimhossain3677]

They should upload more often

[@nath-wp7xp]

tasnim hossain issue with that is that they don’t make the show anymore in Australia. So they’ve got a constantly dwindling supply of pitches to upload with no new pitches being filmed. They’re probably spacing this out so they can keep this going for a while.

[@sanny-nk9re]

Glenn couldn't handle being rejected

[@eriknielsen1849]

Defently not what a arrogant prick 🙂

[@44unda]

I'm here for the music

[@christinegizza1414]

Already done in UK BUT BETTER

[@politiciansarehonestNOT]

and to date... never heard of parkhound

[@jean-christophepinchinat7979]

My counter 200k X 2 shark= 400k, 10% equity each =20% total

[@tusharprasad2734]

Starts at 9:40

[@seal9390]

Steve be like every episode: I'm out.

[@abhishekhota7620]

Why spoil the episode guys?

[@learnlearn931]

Good for them, they did the right thing.

[@konradvonmarburg7733]

Why tell the outcome in the title?

[@przemekzgliwic]

Why people are coming with crazy evaluations!?

[@johnbeechy]

nice idea, high valuation, thanks for the upload interns unite during this C Virus Purge and stay inside. Purge & Be Well. & God Bless

[@danzephyr2797]

Thanks, It would be even better to be able to watch the vid without it being spoilt by the title.

[@tomchilli4195]

Stop giving away the episode with the KZbin titles 😂😂

[@kenzie7253]

The dog logo is dumb. If that marks the parking spot & it’s supposed to advertise at the same time, many people would look past it as a normal “no trespassing” or “beware of dog” or “electric fence” sign.

[@joefothergill6303]

Parkhound sounds the most occa thing

[@robmarrin6720]

They all have development team's, so I'd just poach the developer who has no equity, business is business.

[@hurricaneheli79]

I doubt they came for a deal.

[@alexanderher7692]

2000 bookings. 1mil how

[@John_Doe62]

Calling them arrogant because they declined is actually arrogant of Glen

[@wj9518]

The valuation is insane.. 4mill

[@kishankini3406]

No not a bit of arrogance. It's their company, it's their choice.

[@Givacius]

Man now this company is like 20+ mil

[@stefanocioni2587]

Good work boys! You made the right call. Forza Italia!

[@xa-12dash69]

App is ready ..they are making it good...but loan will pull back the growth...also too much equity will lead to downfall of the company...as they will be 1/3rd partner ...who don't work but will hinder all decisions... Hence better to drop down offer...

[@mikaylastewart9021]

When they ended up getting bought by another company for millions 😂

[@lochrandoherty9218]

How much were they bought for?

[@mikaylastewart9021]

@@lochrandoherty9218 2.7 million

[@lochrandoherty9218]

@@mikaylastewart9021 so, less than their evaluation. If they invested what they asked for the investor would have gotten less when they sold.

[@lucasrodgers6904]

@@mikaylastewart9021 bruh

[@markeshasmith2786]

ugh why do they expect so much ... these sharks are crazy

[@elcroisssant2946]

Parking is such a big issue people need an app for it...? What? Genuine question where is it this bad excluding places like new York of course

[@klauszungler8930]

They will make all the money and the Investors will have to wait for years

[@adamharvey74]

What's with the constant state and city discrimination that Steve Baxter has ? Bloody hell mate. Give it a rest !

[@legatoblues4185]

G'day Awesome Aussie, I'm Legato. Where ya from mate?

[@avantals9889]

You gay

[@adamharvey74]

@@legatoblues4185 Sydney Australia mate!

[@kevinsoo633]

Lol this is shit. Too hard to do hourly parking in a private building complex. You need a key card to get into most apartment complexes. Then I looked up the monthly rates, they are so expensive. And then it's no different to advertising it on domain.

[@michaellusk2856]

These two blokes were just wanting the exposure on the show.

[@aabbsher]

Wow, greed

[@dudeltron14]

Yikes, they really walked no deal

[@GGTanguera]

They just came to be seen. Free advertisement . Smart cookies!

[@DougieBarclay]

@@GGTanguera free? Costs a lot to come onto this show

[@GGTanguera]

Doug I don’t think that participants pay in US and Canada.

[@hsk8787]

Pretty sure this already exists

[@adamfrew6699]

These guys flipped it by the sounds, sharks got away with the headache.

[@u80aQT]

How did it go for these guys?

[@Funky.Sabbath]

the episode literally aired today mate.

[@skywalker1592]

@@Funky.Sabbath Dont know if you realized but these are clips from the show which ended 2 years ago I'm pretty sure

[@stephenmccann3407]

Bought out for 2.7mil. If they owned 90% of the business at the time worked out pretty well for them

[@Kuucs]

Door dash for parking

[@GoingHamAllTheWay]

Your nuts, take the deal make money fast and get out there and known, then make a steady income possibly open to other countries to expand

[@navigation4653]

I know a person who joined this show and he agreed to the offer on tv but in reality he declined the offer but they asked him to show the opposite on tv

[@darkness124w]

Okay sure.

[@navigation4653]

Spencer Tyers you think everyone is a liar like you? Lol

[@stephengiordano3237]

It’s an app

[@cchavezjr7]

You can never be arrogant in business? Whaaat?

[@pulkitsharmapremiumvideos9252]

Naomi always wears the same red dress in every episode 😂😂😂😂

[@himalayanhealthhut6656]

These guys didn’t negotiate hard enough. They were willing to go to 20% on equity but wouldn’t push harder on the deal to bring Glen and Naomi down from 30% to 25%? They could’ve brokered that split and walked out with two very valuable partners on board. Pulling out the old “we have other investors interested” isn’t going to work on successful businesspeople. It’s code for “you’re our last hope”.

[@jay-xj1om]

No, it's not code for that at all. If you had other investors lined up it would be prudent to check out a few more to shoot for a better deal. Especially when that shot entails free advertising on Shark Tank and potential networking.

[@himalayanhealthhut6656]

jay It’s a cheap real estate agent / used car salesmen level tactic. Never going to sway a serious, successful investor.

[@jay-xj1om]

@@himalayanhealthhut6656 You clearly know nothing about negotiations. It doesn't work when it's an obvious bluff. And that aside, it's still not code for anything as I've already explained.

[@himalayanhealthhut6656]

jay They blew a relatively easy nego at 25% that would’ve netted them 400k and two brilliant, well connected, reputable and wealthy business partners. They’re fools and so are you.

[@rizalukman7982]

They value their business at $4 million

[@christinam2805]

well a quick google search shows they were bought out so I'm assuming they got it or close to hit considering how they negotiate lol

[@politiciansarehonestNOT]

Yeah... Uber has you shatted royally as does electric scooters

[@seal9390]

What a edgy profile picture.

[@arrowstheorem1881]

Is the grouchy man shark who always asks where the entrepreneurs come from a Geography Discriminationist?

[@taylorreardon6918]

I think the term would be geographical discriminust.. I don't agree though.. I think he understands that the location of the business plays a significant part in his efficacy.. He can't offer as much hands on expertise if he's 1000ks away.. And I think he's the only shark that takes that seriously.. I understand why you would think that though.. but the jokes are just jokes.. we all do it to a degree.. **edit for auto correction of "but" to "buy" smh

[@paypalservices2724]

They sold for 2.7m

[@themadcow686]

not another fucking car parking app

[@maxschmidt666]

Well its their fair option to say no. The difference between 10 and 30% of a company is a lot. And ofc why shouldn't other business people be interested to invest for a lower equity? Its not like they are standing in front of Warren Buffet.

[@LadyHeathen82]

Max Schmidt 💯

[@himalayanhealthhut6656]

They were willing to give away 20% not 10%. Didn’t negotiate hard enough. They could’ve pushed for 25% and got their $400k and two extremely valuable dragons on board. Massive missed opportunity.

[@johnbeechy]

loan over sale of shares = less capital gains' tax due ... loan will have interest - note if the loan was variable rate and rates just dropped off the cliff and some nations are not talking of negative rates.. including the USA is now talking of negative interest rates... if no loan, then a Full capital gain will be taxed - depends on the nation's inclusion rate... Canada's inclusion rate is 50%, then times the remaining Gain as a Taxable cap Gain x the progressive rate (based on the income level). PUC might be so low that there be a huge capital gain... be aware of the capital gains from selling a Low Paid Up capital share. // have a nice week..

[@matthewbell4273]

Unless the Shark is acquiring a very large percentage (e.g. maybe 50%+, and certainly if it's e.g. 90-100%), then the entrepreneur is not selling any of his shares to the Shark. Instead, the company is issuing brand new shares, all for the Shark, in return for the Shark's paying the money directly into the company. This causes all of the original shareholders to be "diluted", because there are now more share "in issue". But with that approach nobody is selling shares and thus nobody is liable for CGT. If however the Shark were obtaining a very high percentage, e.g. certainly if it were 90-100% (and perhaps anything from 50% upwards), then yes, they would structure it legally such that the entrepreneur would actually be selling shares to the Shark and would therefore be liable for CGT.

[@dotnetdevni]

Not now u don’t lol

[@adammans7301]

They sold their company for 2.7 million

[@StolenClutch]

They are clowns for declining

[@siddharthrunwal9235]

Hello..... greetings from India... second..viewer for consecutive 5videos

[@siddharthrunwal9235]

@BS Handle Created well I don't need to stupidly..stock up toilet papers...lol..😅

[@jonathanrayne]

They're overvaluing that fucking parking business. Their biggest problem is the LAND RUSH. They need to gain subscribers quickly! Competitors with better marketing will outperform these guys and eat their lunch!

[@FamilyChannelfun32]

Arrogance is yourselves thinking you know best and not taking the deal that was fair. They walk away and they are arrogant? Bahahshshsh. No you are Glen and Naomi

[@truth.venture]

I don't like sharks attitude when they label entrepreneur as arrogant when they reject their offer..

[@SKY-jv9ue]

OH YEAH, just there for the free PR! They are rascals, they are!

[@SabheeZ]

AHAAHAH! Someone doesn’t give a deal, n it legit kills their ego, n pisses them off. “Oww I think they’re arrogant”😂 And Miss. 33% always with her trashy valuations and offers is always there with just trash 😂

[@SuperpowerBroadcasting]

Dumb move to turn it down.

[@TheProphegy]

I would’ve got Glen and Naomi for $200k a piece but they each get 10%.

[@TheFanwwefan]

Just coz they did not take the shark offer they are arrogant???

[@HelloYoutube89]

They only made 2.7 million because they got bought out, they're stupid they should have taken Glenn and Naomi they would have gotten alot more than 2.7 million within 1 to 2 years.

[@daysonrajan2575]

Jane just want to grab good business and eat big chunk... Everytime she does the same... Not helping small business but rather robing them... Only person I respect is Andrew.