Welcome to Entrepreneur Elevator Pitch, the heart-racing show in which contestants looking to uplift their lives must convince our board of elite investors that their dreams are worth making a reality — in only 60 seconds.
In this episode, app makers, gaming founders and health entrepreneurs all step inside our elevator and pitch their companies as a countdown clock ticks away their precious time. Watch to see who wows the board members and gets their shot at winning a life-changing investment — and who gets sent back down with nothing but a valuable lesson on the importance of preparation.
See who has what it takes to go all the way up on Entrepreneur Elevator Pitch!
In this episode, app makers, gaming founders and health entrepreneurs all step inside our elevator and pitch their companies as a countdown clock ticks away their precious time. Watch to see who wows the board members and gets their shot at winning a life-changing investment — and who gets sent back down with nothing but a valuable lesson on the importance of preparation.
See who has what it takes to go all the way up on Entrepreneur Elevator Pitch!
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NewsTranscript
00:01Going up.
00:03Today, entrepreneurs looking to uplift their lives must prove to our elite panel of investors that they have what it takes in 60 seconds or less.
00:15Wow, that will never work.
00:17Oh, boom.
00:18This is Entrepreneur Elevator Pitch.
00:23Presented by Amazon Business.
00:27Today in the boardroom, Kim Perel, CEO of 100.co.
00:34Mark Randolph, co-founder and first CEO of Netflix.
00:38Gary Swart, a Polaris partner and serial entrepreneur.
00:43Kicking off, an entrepreneur with a new tropic beverage designed to boost brain power and focus.
01:05Going up.
01:08Hello, Jasmine.
01:09Welcome to the elevator.
01:12Your pitch begins in 3, 2, 1.
01:17My name is Jasmine Mooney and I'm co-founder of Holy Water.
01:21We are an innovative PhD-led company that creates beverages using functional mushrooms, adaptogens, nootropics and ketones that provide healthy alternatives for different use occasions throughout your day that foster longevity and a higher quality of life.
01:36Ketones are this incredible ingredient that puts your body into ketosis without having to fast, creating the ultimate source of fuel for your brain and your body.
01:46We launched six months ago with D2C and just launched into retail last month.
01:51We've done 400,000 in sales and are projected to end the year with 2 million.
01:56We are asking for $425,000 for 5% of our company, making that an 8.5 million valuation.
02:04This is the holy grail of holistic health and we are looking for strategic partners like yourselves to take this to the next level and help us make this world a healthier, stronger and happier place.
02:18Wow, just got it in under the wire.
02:20Yeah, I thought you did a great pitch.
02:22I'm curious to see what is it about a mushroom and why can't I just eat mushroom?
02:26Mushrooms is a big category.
02:29Regular viewers of Elevator Pitch know that I did make an investment in a mushroom supplement company, so I kind of believe in the space.
02:35All right, Kim, you're the CPG expert and Mark, you know mushrooms.
02:39What do you say we vote?
02:41Let's vote.
02:42Attention, Jasmine.
02:51Your pitch has been approved.
03:00Okay, okay.
03:03Hi.
03:04Hi, welcome, Jasmine.
03:06Great energy on your pitch and you threw a lot of buzzwords in there.
03:09I thought you did a great pitch.
03:11You had a lot of information in there, but I didn't understand what a ketone is.
03:16You have ketones.
03:17You all have ketones in your body.
03:19They're already there.
03:21It's when you fast, you go into ketosis.
03:23So this is an ingredient called a ketone ester.
03:25It's called R13 butanediol that puts your body into ketosis.
03:29So you're getting all of those benefits without having to fast by just drinking our beverage.
03:34Can we try it?
03:35Absolutely.
03:36So this is ketones completely on its own.
03:40Oh, great.
03:41We're having the really crappy thing first so yours tastes great afterwards.
03:44Yeah, it's pure.
03:45This is straight ketones.
03:46Bottoms up.
03:47Bottoms up.
03:48Cheers.
03:49Cheers, guys.
03:53I need a chaser for that ketone.
03:56That does not taste good.
03:58The reason I wanted you to try that ingredient is so you understand what we're working with
04:03and how my doctor has masked the taste of holy water.
04:07Anything has to take better than what I just had.
04:09I think that was a brilliant tactic.
04:11Yeah.
04:12Something that tastes ghastly so that we have this and we think it tastes great.
04:15I'm going to have one with you, too.
04:17Well, that's significantly better than the ketone.
04:19It is.
04:20That actually tastes pretty good.
04:21Yeah.
04:22So what's with the name?
04:23To us, it's not about religion.
04:24My doctor is very passionate about language.
04:27Holy means sacred and to him, health is sacred.
04:31How do you reach customers?
04:33Every single day, I do an event in health and wellness.
04:36I will not do anything unless I get to bring my cooler of holy water around everywhere with me.
04:42I love your grassroots marketing, but in order for this to be truly successful,
04:45you're going to need a lot more capital in order to expand.
04:48So how much are you actually raising right now?
04:50Four million.
04:54I actually like the direction you're going.
04:58The challenge is I don't know the business that well.
05:01So this is one of those ones where if Kim is out, well, then I'd be out.
05:05And if you are in, I'm probably going to try and steal it from you.
05:08Well, here's the good news.
05:09I'm out.
05:10I think you're a great spokesperson.
05:11The product tastes good, but I just, I don't know mushrooms and I don't know CPG like Kim,
05:15so I just think they're better suited.
05:18I think you are a great founder, but I also know how hard the CPG beverage is
05:24and how much capital you're going to have to raise.
05:27Yes.
05:28Unfortunately, until you get more traction, I'm going to pass.
05:32This business is so dependent on execution,
05:36and I don't know how well you guys are going to do yet.
05:40It is too early.
05:41So reluctantly, I'm going to have to pass as well.
05:46Sorry, we're sending you home.
05:48No, no, don't be sorry at all.
05:49Empty handed.
05:50Thank you so much.
05:51Best of luck with everything.
05:52Okay, good luck.
05:54The feedback has been so incredible.
05:56Unfortunately, they couldn't feel the benefits of this quite yet,
05:59but I'm hoping one day they'll look back and be like, shoot.
06:02You've got to come in here, not just saying I've got a great product that tastes good.
06:06You've got to say, I understand what I'm doing,
06:08and here's evidence that I know how to actually make this thing move up.
06:11Well, I like what Kim said about the amount of capital that they were going to need to really reach the market.
06:15From my experience, if you could just get this drink in and nail the market, you could always scale.
06:23Media, enterprise and government websites worldwide.
06:26Trust WordPress VIP to run, grow and secure their websites.
06:33When you're making a pitch, I want you to tell it, not sell it.
06:37I'm not your customer. I'm an investor.
06:39I want to know how that's going to make my investment profitable.
06:42And most importantly, I'm looking to see that you have the chops to make your business work.
06:48Next up, we have an entrepreneur with a groundbreaking web application
06:52designed to help individuals with special needs build meaningful connections.
06:57My name's Juliana Featherman, and I created Making Authentic Friendships.
07:00This is Michael. He has autism and ADHD, and he inspired this initiative.
07:04Throughout high school and college, I saw that my brother didn't really have plans on the weekends,
07:09people to be with, things to do the way I did.
07:11So, I decided to do this.
07:13I didn't really have plans on the weekends, people to be with, things to do the way I did.
07:16So, I decided I wanted to create something to help him and individuals like him find people with similar interests.
07:22So, I created this.
07:24Hello, Juliana and Michael.
07:28Welcome to the elevator.
07:30Your pitch begins in 3, 2, 1.
07:37Hi, I'm Juliana Featherman, and I created Making Authentic Friendships,
07:40an app that enables individuals with special needs to make friends
07:43based on their age, interests, diagnosis, and location.
07:47Making Authentic Friendships, MAF, are also my brother's initials.
07:50This is my brother, Michael, and he's 26, and he has autism and ADHD.
07:54Growing up, he always struggled with social skills and making and keeping friends,
07:58like so many individuals with special needs do.
08:01So, I created this for him and the millions of others like him.
08:05We don't only serve autism, although a majority of our users do have autism.
08:09We serve over 20 different diagnoses, both intellectual and physical disabilities.
08:14We currently serve over 8,000 users in all 50 states and 75 countries.
08:19It works like a game. You create an avatar that looks like yourself and can earn coins.
08:24And we are asking for $200,000 for 20% equity to turn our 8,000 users into 80,000.
08:31And which one of you wants to join us and help us make the world a better place?
08:36Oh, my gosh. I actually love what she's created.
08:40I guess the question that I have is, how big is the market?
08:44Yeah, I agree. I mean, that story is heartwarming.
08:47You can tell she's got a great relationship with her brother, but is there a business here?
08:51That's the question.
08:52You know, sometimes you can make investments that are out of your heart,
08:55but other times you've got to make it out of your bank account.
08:57Sometimes you make it out of your heart and it actually pays off.
09:00Maybe this is going to be one of those ones for you, Kim.
09:05Attention, Juliana and Michael.
09:14Your pitch has been denied.
09:21Oh, no.
09:29Okay, buddy.
09:31Take care now.
09:33Thank you. I appreciate it.
09:35I mean, guys, that was gut-wrenching.
09:38Honestly, I wanted to send her up, but there were so many questions that I still had.
09:43Yeah, you know, I kind of feel like I need to wash my hands.
09:45I kind of feel dirty for having voted them down.
09:48I think you should.
09:49Kim, you wanted to hear more. Why not let them in and hear more?
09:52This, to me, feels like something that I would invest in as a nonprofit.
09:56And I do a lot of investing like that.
09:58Well, I think this could have been an opportunity to do well by doing good.
10:01Feeling pretty good.
10:02Very excited that we got the opportunity.
10:04And hopefully the exposure will help us reach more users and more families.
10:08I say let's bring her into the boardroom.
10:10Let's ask a couple of questions.
10:12Just hear a little bit more about her business.
10:14Maybe there's something we can do to be helpful that's not $200,000.
10:17I'd be down for that.
10:18It's good to give people a second chance, so let's try it.
10:20Sometimes you might need a personal time.
10:23Attention, Juliana and Michael.
10:26Your presence has been requested back in the boardroom.
10:30All right, back to the elevator.
10:35Hi, Juliana and Michael.
10:36So good to meet you guys.
10:37Nice to meet you as well.
10:38We just wanted to ask you a couple more questions about your business.
10:41Absolutely, we'd love that.
10:43Give me a sense. Is there a real business here?
10:45That's a very valid concern, one that isn't uncommon.
10:48My belief is that we can make the world a better place and also have a business.
10:53Make that profit.
10:54We do run on a subscription base, and we're not at a point where we're necessarily profitable yet.
10:58But if we can build our database big enough, it definitely is a possibility where we can be making the money,
11:04and it's mutually beneficial.
11:06How much revenue are you making on a monthly basis?
11:09Like $30,000 a year from the app alone.
11:12It's that, and it's really just at a point now where I'm making enough to keep up with it, but not much more.
11:18And that's really why we need an investor to kind of scale it and take it to that next level.
11:22I mean, I've been doing this alone for like five years.
11:24I was in college. $1,000 was a lot of money to me then.
11:27I can't scale it without investment.
11:29Let me just ask my colleagues quickly here.
11:41I have an idea, and I think we're in agreement.
11:44I don't think that we're at a point where we would invest $200,000 in your business, which was your ask.
11:51But on behalf of the Amazon business, we would like to gift you $10,000 in order to help accelerate your business.
12:00Wow, that would be so amazing. Thank you so much. I so appreciate that.
12:04Hey, buddy, can you say thank you?
12:08So nice to meet you.
12:09So nice to meet you.
12:10You're doing really important work.
12:11Thank you so much.
12:12Michael, nice to meet you.
12:14Great to meet you.
12:15Michael, say thank you so much.
12:20Yay. Nice, buddy. Good job.
12:23I'm really glad that we got to ask those few questions and clarify that they do have some revenue but not enough.
12:29But I feel really good that Amazon was generous enough to do that.
12:35Entrepreneur Elevator Pitch is presented by Amazon Business.
12:39For every organization at every stage of growth.
12:44Next in The Elevator, a returning pair of entrepreneurs with a revolutionary app that transforms learning musical instruments into a game-changing adventure.
13:05Going up.
13:07Hello, Stephen and Aspen. Welcome to The Elevator.
13:12Your pitch begins in 3, 2, 1.
13:18Three months ago, we pitched you our first idea, making video games that help students learn music.
13:24We took your feedback and we pivoted into an even stronger company.
13:27We taught in person with teachers and we learned that they are ravenous for new ways to engage their students.
13:34We also found that our games were especially useful in the classroom when used socially, when students played together.
13:41So we recreated Overture Games as a platform of lessons and video games that teachers can use in the classroom with their students to engage them socially.
13:50While most edtech companies take up to one year to close their first school contract, we got three deals in just a matter of three months.
13:56Plus one partnership giving us access to 30 additional locations in our pipeline for this fall.
14:01With 120,000 K-12 schools in the U.S., our goal is to expand our product beyond music into other core subjects.
14:08Today, we're seeking $200,000 for 3% of our company. Let's chat and change the future of education together.
14:18Oh, wow.
14:19I love that they pivoted. Every great entrepreneur I know has pivoted. That's pretty impressive.
14:25Just the fact that they pivoted does not mean they've landed on a winner.
14:28Well, some people tell entrepreneurs that will never work. Here's a case where it actually could work.
14:34It is just so challenging trying to sell to schools. I love that they pivoted, but I hope they haven't set themselves up for a struggle.
14:40Consumer businesses can be even harder, though. And I do have experience in a music education software company that sold to Microsoft for $100 million.
14:48Oh, boom.
14:49But listen, the only way we're going to find out whether we even get that opportunity, Gary, is if we put it to a vote.
14:54Let's do it, compadre.
14:55Attention, Stephen and Aspen. Your pitch has been approved.
15:14Aspen and Stephen, welcome to the boardroom. Congratulations. It isn't often that people get a second bite at the apple here.
15:24What's the big change between what you presented to us previously and what you're presenting to us today?
15:29Yeah, so just three months ago, we were actually building a consumer app and going direct to consumers with a video game that helps solve practice burnout.
15:36And then we actually took your feedback seriously, Mark, because it's actually a very hard problem to solve.
15:40And we realized that in group setting, our game works fantastically. We got a lot of word of mouth intros from schools, after school program directors.
15:47So you pivoted because selling to consumers is hard. Have you tried selling to school systems? That could be even harder.
15:54So we also realized the challenge, but I think we got some secret sauce here.
15:57We partner with channel partners that directly have access to many, many different schools at the same time.
16:02That's how we're able to get into the school system that fast in just three months.
16:05Is there any way to see how it works?
16:07Let's pull up the game. So I'm going to grab my clarinet here with me.
16:10It's my dad's birthday. So we're going to sing happy birthday and we're going to learn the notes to happy birthday by singing together.
16:17So this is the cat. The cat is going to move on the screen and we're going to move based on the notes that we're seeing.
16:23So it uses pitch detection. If we mess up, the cat will hit the cave wall and restart.
16:27So it's a full video game, but you're learning music while you do it.
16:32Happy birthday to you.
16:37Happy birthday to you.
16:42Happy birthday. His name's Royce.
16:45Dear Royce, happy birthday to you.
16:52Let's go. Nice job guys.
16:55That's fantastic.
16:57I mean, I love that you guys were not afraid to pivot.
17:02But again, I'm here to make money. So the question I have is how much revenue have you made?
17:07How much are your projections for next year? Because your valuation is quite high.
17:10So we actually currently have over $5,000 recurring revenue from those three contracts we got.
17:16$5,000 annual recurring revenue. That's correct.
17:18I love what you guys are doing. I love that you pivoted. I love that you're trying to find the market.
17:22Your high valuation just doesn't seem to match. So unfortunately, I'm going to pass.
17:29Clearly, you guys are impressive. You took feedback well and pivoted.
17:32PowerPoint, you've got a good story arc. The Excel is where it falls short for me.
17:36I'd like to see a little bit more traction in selling to schools and consumers is hard.
17:41And I'd like to see a little bit more evidence of product market fit there.
17:45But I certainly applaud you and appreciate the serenade. So I'm also passed. Thank you.
17:53So I'm a little scared about the advice I gave you last time.
17:56But if my advice was steering you into selling to schools and that being a path to success and profitability, I apologize.
18:04It's possible, but brutal. And so unfortunately, I'm afraid I have to pass.
18:12You guys have done a great job of getting to where you're at.
18:14You just need more traction in market for one of us to invest.
18:18Thanks, guys. Thank you for your time. Thank you very much.
18:23I think we did a really good job this time, way better than last time.
18:25We actually went through the elevator to meet the investors.
18:27We'll just keep working at it, keep grinding. And that's what it's all about.
18:31Based on the fact that they may have pivoted based on my advice, that scares me a little bit. What do I know?
18:37Mark, don't be too hard on yourself. I often tell entrepreneurs, don't take my advice.
18:42I encourage them to get out of their opinions.
18:44And not being afraid to pivot.
18:45A considerably lower valuation would help, too.
18:49Tune in next week as entrepreneur elevator pitch continues.
18:54How can you say that without telling me your revenue?
18:56They left the field before the clock had run out. You don't always have to use all the time.