Cycloramic hits top of App Store after Shark Tank appearance, $500k investment & 100k downloads in an hour

What happens when your app gets featured on ABC’s Shark Tank, the TV show where rich investors listen to pitches from wannabe entrepreneurs looking to raise funds? For app developers Egos Ventures it means shooting up hundreds of spots on the App Store charts to become the top paid app in the store overnight. The developers behind the hands-free panorama app called Cycloramic were able to capture a $500k investment from two of the Sharks on last night’s episode. We spoke to the developer who appeared on the show last night, Bruno Francois, to find out a little about the experience and get some stats on downloads following the investment.

Author Ad Placeholder
Will only appear on redesign env.

We first told you about Cycloramic back in 2012. It was the first app (and the only) capable of taking hands-free 360-degree video by using the iPhone’s built-in vibration motors to spin the device. The developers had interest from all of the Sharks and ended up taking a $500K investment at a valuation of over $3M — even more than the company was asking for initially. You’ll notice Bruno tells the Sharks that the app has around 600k downloads in the clip above. Since filming the episode and getting the investment back in June, the app is now at more than 8 million downloads not including the influx of downloads following the episode airing last night. It appears that the Shark’s investment is paying off.

We spoke to Bruno following the show last night. He was able to give us some numbers on download activity (around 100k in an hour) and spoke about the overall experience:

I would have never imagined the immediate impact the Shark Tank had on the download and the website. We saw a little increase in activity shortly before the show as the companies and preview were announced. As soon as our segment started, the downloads skyrocketed (10s of thousands in a few minutes).  a lot more than the website hits. We pass 100K download within the hour.  By the next App Store Ranking period we went from overall ranking #800 to #2 for the Cycloramic Pro Version and from #220 to #1 for the Cycloramic Studio.
Also our new selfie360 app did 30K downloads and went from no ranking  to #7 in the Photo Category.

Cycloramic-App-StoreI’m interested in hearing about the application and audition process for the show. Can you talk a bit about when you first got involved with the show and what the auditioning process consisted of?

I auditioned for Shark Tank in April 2013. Once I had passed through this round, I was asked to send numerous audition videos to the production team. After my video was selected I did a live demo in front of producers for final approval. I then taped the next day (June 2013)

Did you get to talk with the Sharks before shooting the show?

No, the sharks are never in contact prior to the show. They don’t even see the applications. When you pitch it is the first time they have heard of you.

Cycloramic’s already been available for over a year and has over 7 million downloads. Was the goal of going on the show to raise the money, or more for the exposure? Were you having trouble raising the money before the show?

It was a little bit of both, and making contact with good potential partners.  We never raised money before

Along with your appearance on the show you’re launching the new Selfie app. Did the Sharks buy into Egos Ventures or just the Cycloramic apps?

They bought into Egos Venture. Selfie360 is our latest app. As we are currently working on a 3d scanning app for a business application, we decided to adapt it to a currently hot topic: selfies. We called it selfie360.

Regular selfies are dull: One flat photo, one angle. With selfie360, your selfies are brought to life in 3D animations, to show yourself in 3D or in a full 360 degree panorama of your surroundings. Selfie360 lets you take 3 types of Animated Selfies:

– The Portrait Selfie is an animated 90 degree rotation of your portrait.
– The Panorama Selfie:  You are at the center of the scene, and the panorama scene rotates around you.
– The Full 3D Selfie is a 360 degree 3D animation of someone or something.
– and the HANDSFREE selfie (coming soon)

Our official Launch date was the day of the show and we are already ranked #7 in Photo Apps

What was the process of closing the deal following the show?

Pretty long process, but the sharks are well organized and it went pretty smoothly.

On the show you mentioned 660k total downloads, but the iTunes page for Cycloramic says 7 million downloads. What’s the difference between those numbers?

660K was back in June.  8 million is now. 

Following the episode of Shark Tank airing you’ve increased one of the Cycloramic apps from $0.99 to $1.99. Can you talk about that decision?

This is all based on download and ranking.  It seems that $1.99 is a very reasonable price for this app compared to other photo apps. We run specials all the time so it could be back to $.99 tomorrow and even Free during the week-end. 

What’s the next step for the company and how will the Sharks that invested be involved?

We have a few projects coming including some business app we are developing.
What Egos Ventures and the company’s Shark backers will do with the $500k investment is yet to be revealed, but Cycloramic is already reaping the rewards from the new partnership. There are two versions of Cycloramic: Cycloramic Studio 360 Panorama and a pro version that supports high resolution modes and more. The apps are currently #1 and #2 on the App Store Paid Top Charts and both selling for $1.99. The developers are also launching a brand new free app  called Selfie 360 that lets users create animated, 3D and panoramic selfie shots.
We’ll have the total count for Cycloramic’s downloads tomorrow for a 24 hour period following last night’s episode and will update the post.

FTC: We use income earning auto affiliate links. More.

You’re reading 9to5Mac — experts who break news about Apple and its surrounding ecosystem, day after day. Be sure to check out our homepage for all the latest news, and follow 9to5Mac on Twitter, Facebook, and LinkedIn to stay in the loop. Don’t know where to start? Check out our exclusive stories, reviews, how-tos, and subscribe to our YouTube channel

Comments

  1. Barbara Clair - 9 years ago

    Cycloramic is not the only app on the market. Check: https://itunes.apple.com/app/id668495813?mt=8
    it has much more and it’s free. I love it.

    • Viktor Petrov - 9 years ago

      But perhaps when the guy from the video gets his patent he would have the legal right to close down other apps like this unless they pay him royalties.

  2. Pierre Calixte - 9 years ago

    great app!

  3. Dustin R - 9 years ago

    “The developers had interest from all of the Sharks and ended up taking a $500K investment at a valuation of $2M ”
    Your math is incorrect. $500,000 @ 15% is a $3.3 Million dollar valuation not $2 Million.

  4. endorsebug - 9 years ago

    Going on Shark Tank is great exposure. Even if the sharks totally reject your idea, there are tons of investors that may be interested. The experience ends up being a large advertisement.

  5. Ian Maddox (@isNoOp) - 9 years ago

    3 and 2.5 star app ratings. Yeesh. Those sharks are going to realize what a huge wasted investment this was when the iPhone 6 has an angled edge again and you can’t stand it up anymore.

    • robertvarga79 - 9 years ago

      They have other ongoing developments too….

    • Landy (@Soydepr) - 9 years ago

      agree, also if apple changes their motion sensor technology this company would be in bad shape. at the end of the day 3M for an app is bad investment .

    • Jared Scheller - 9 years ago

      people need to learn to read before they make comments that are not based on actual facts.
      Direct quote from the article:
      “Along with your appearance on the show you’re launching the new Selfie app. Did the Sharks buy into Egos Ventures or just the Cycloramic apps?

      They bought into Egos Venture. Selfie360 is our latest app. As we are currently working on a 3d scanning app for a business application, we decided to adapt it to a currently hot topic: selfies. We called it selfie360.”

    • Tick Guy - 8 years ago

      Your not good at math then. 8 Million downloads at $2 a pop

      Thats $16,000,000. For some reason Kevin said they where gettinging 0.77 on the dollar (i’m guessing app fees and overhead; Wow 23% thats a lot!). So thats $1.54 per app

      $1.54*8,000,000= 12,320,000. They Own 15% So .15* 12,320,000= $1,848,000

      But wait they invested $500,000 So thats a profit of $1,348,000 or 270%

      So How is that a bad investment? Or did you assume $500,000 is more then $1,848,000

      And no the fact that there was two sharks made no difference. Since they split there investment and equity so its still a 2.7 Times Return!

  6. zBrain (@joeregular) - 9 years ago

    wouldn’t that scratch the iPhone while rotating? sadly it won’t work (obviously) if you have a case…

  7. Mark Cuban acts like such a tech wizard, all he did was sell a domain name for billions to the fools at yahoo

    • Tick Guy - 8 years ago

      he’s a billionaire, owns the Mavs and is literally the most outspoken on the tank. I think thats why they think he is the best tech guy in the tank. Robert for example almost never get’s deals done and any time he gives an offer it always seems like he is just offering capital thats it. He rarely actually does any hands on help. Once in a blue moon he offers a connection and states they may be able to blow up that business (like the honey bee guy) so not many people assume theres anyone else who deals with tech.

  8. In other words, he just gave away a big chunk of his business for short money. He should have said ‘no’ to their offers, and just cashed in on the free publicity.

    • Tick Guy - 8 years ago

      isn’t that what many of the business owners get sucked into on the show when they actually have a succesful business. Only those who know the most equity they’ll give up (and the cash offer needed for that amount) could avoid this. PLus it seems almost all the business owners believe the investors will help them but I can’t imagine how Lori can possibly help this guy except suck money out of the business. As for Mark I have no idea.

  9. Rita Gettings - 9 years ago

    I bought the apt not testing my phone and guess what it does not stand by itself. On the show the phone was in some sort of stand, can I get one of them?

  10. Connie Lewis - 9 years ago

    I’d like to know is Bruno Francois single ? He was on Shark Tank, I think he’s cute. Thanks

  11. Mark Stark - 9 years ago

    What no one realized in this overheated run for the money is that this patent is dependent on the phone being able to stand on its base. The iPhone 5c does NOT stand on its base as the iPhone 5s does. The next generation of iPhones might not stand on its base anymore.

    • Tick Guy - 8 years ago

      I due wonder what happened. Also why would anyone ever offer a free ap like this. At least charge these $2 it’s no big deal

  12. dylanmahoney - 8 years ago

    So what happens now that the IPhone 6 is now released and the shape has changed?

Author

Avatar for Jordan Kahn Jordan Kahn

Jordan writes about all things Apple as Senior Editor of 9to5Mac, & contributes to 9to5Google, 9to5Toys, & Electrek.co. He also co-authors 9to5Mac’s Logic Pros series.