BeSomebody is an experiential learning platform that started out as a blog. Founder Kash Shaikh pitched his business on Shark Tank, but no deal was struck. Later, the app shut down and Kash focused on job placement services. As of 2024, BeSomebody is valued at $15 million. The pitch didn’t go as planned, but the company has bounced back!
Founder
Kash Shaikh is an entrepreneur from Cincinnati, Ohio. He received his bachelor’s degree from the University of Texas at Austin in 2002, where he served as the head of Sprint’s indirect sales team.
After graduation, he became a brand intern at Procter & Gamble, where he worked for nine years, rising through the ranks. The Cincinnati native held several senior positions at Procter & Gamble before joining GoPro. Ultimately, he served as CEO of sports organizations such as UILB, BSB Sports and Baseball United.
founder
Cash went through a bad breakup at age 30, which made him question his purpose in life. He found solace in the idea of “being someone” and started a personal blog while traveling the world.
Three years later, he founded an experience marketplace. Shaikh created a platform where users can share their interests and find professionals who can provide them with practical experience.
The BeSomebody app launched in 2014, and the startup raised $1 million from EW Scripps Company. In 2015, they received another $1 million from angel investors. Within two years, the company had organized 2,000 meetups, taking 20% of each sale.
Shark Tank Appearance
In 2016, BeSomebody moved to Boston and needed more funding. Kash Shaikh applied to Shark Tank and was selected from thousands of applications. He appeared on Season 8, seeking $1 million in funding in exchange for 10% equity. The valuation was crazy!
Cash gave a spirited presentation and featured a number of experts on stage, including American Ninja Warrior contestant Travis Brewer and football player Kristen Lilly. It started off well, but Mark Cuban quickly grew tired of Cash’s chatter.
When they started the business, the platform was doing about $2,000 in bookings per month. The founders talked too much and didn’t listen to any feedback. All the sharks walked out, and for the first time in a long time Barbara gave a legitimate reason. As Cash walked out, Cuban hilariously muttered “go be a big shot bro.”
After Shark Tank
The campaign was a disaster, and the app was shut down a few months after its launch due to low sales and lack of funding. In 2017, Cash sold the app to Utivity Holdings, Inc. However, the businessman was not ready to give up his brand.
The company’s focus shifted to skills training and job placement. They also formed partnerships with Microsoft, Kroger, and Mass Mutual, creating more than 2,000 jobs through the Besomebody Paths program. Within the first month, Besomebody was profitable.
By 2019, Besomebody Inc was approaching $20 million in annual revenue and was named one of the top private companies in the U.S. by Entrepreneur Magazine. They used the cash to acquire an events company called Opening Minds. In 2019, they acquired Pixelbug Technologies.
As the business grew, Kash founded BSB Group International in 2020. Sales figures have not been released recently, but BeSomebody estimates revenue to be over $20 million per year. In addition, Kash also owns BSB Sports, a sports management and marketing agency.
Categories: Shark Tank
Source: svlsf.edu.vn