Additional Coverage:
- Mark Cuban offered $1 million to a founder who went on to become ‘No. 1 success’ story of ‘Shark Tank’ (marketrealist.com)
Local entrepreneur Bruno Francois, who once pitched his 360-degree panoramic photo app Cycloramic on “Shark Tank,” has become a major success story. During his 2013 appearance, Francois sought $90,000 for a 5% stake in his company. The innovative app used the phone’s internal mechanics to capture panoramic images without user intervention.
The Sharks were hooked. Mark Cuban even offered a staggering $1 million for 30% equity. Ultimately, Francois partnered with Cuban and Lori Greiner, securing $500,000 for 15% of his company.
By 2015, Francois had transitioned from app development to the automotive industry. He launched Car360, a company specializing in 360-degree photos of vehicles using augmented reality. This pivot proved incredibly lucrative.
Carvana CEO Ernie Garcia, impressed by a demo, acquired Car360 for $22 million in 2017. Cuban praised Francois, calling him the “number-one success story” from “Shark Tank,” highlighting his ability to reinvent himself and achieve significant financial success.
Francois’s shift from Cycloramic to Car360 was driven by technological advancements. While Cycloramic, endorsed by Apple co-founder Steve Wozniak, initially enjoyed widespread popularity, Francois recognized the need to adapt.
He sought a more sustainable business model, focusing on licensing his technology to businesses rather than relying on individual app downloads. This strategic decision ultimately led to the creation of Car360 and Francois’s multi-million dollar success.