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Shark Tank: Songlorious Accepts $500,000 From Mark Cuban, Daymond John, Kevin O’Leary and Peter Jones

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What started as a gift for a friend’s wedding has now blossomed into a $1,000,000 business. Ellen Hodges and Omayya Atout created a customized song for a friend’s wedding and quickly realized they could monetize their talent and offer service to create completely custom songs for individuals and for corporations. They quickly were able to scale up their team to include over 100 talented singers, songwriters, and musicians to accommodate the demand they have seen for their totally customizable song service, Songlorious. Each song they create is completely unique. By asking questions about the story you are trying to tell through the song, as well as determining the genre of music and types of instruments to be featured, Songlorious creates truly memorable musical creations for their customers.

While they are wonderful musicians and songwriters, Ellen and Omayya are not marketers or business people. They are looking to partner with a Shark who is willing to invest $400,000 and their expertise into Songlorious in exchange for 10% equity in the company. In the first six months of 2021, they already have exceeded $1,100,000 in sales and are turning a profit from the company. In order to increase their profits to properly pay themselves, their team, and grow the company, they are looking for a Shark that can help them increase their profits and expand into a bigger market.

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    The Sharks love Songlorious and their business model. Four Sharks were able to quickly see how they could utilize their business expertise and portfolio to help grow and scale the company. Peter Jones has managed a similar company which was very successful and he was able to sell for a lot of money. He feels he can easily expand Songlorious into the international market and replicate his previous success. Mark Cuban feels that he could utilize some of his AI technology to help with translation and voice replication. Kevin O’Leary has businesses in the wedding space which is the perfect area to promote and expand Songlorious’ reach. Daymond John feels that he could really help them from a social media and marketing perspective. All four Sharks decide to go together and offer Songlorious $500,000 in exchange for 40% of the business. This will allow each of the Sharks to have 10% equity in the company and cover most of the business operations while Ellen and Omayya can focus on the creative part of the business. After unsuccessfully trying to counter with the Sharks, they accepted the offer and left the Shark Tank with four new investors.

    Would you have invested in Songlorious if you were a Shark? Do you think they missed an opportunity by now having Lori Greiner involved in the company? Start the conversation in the comments below!


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