Investing in cryptocurrencies is too complicated for the average person, but not Bundil. The app automatically invests spare change from a user’s daily spending. It was developed by software engineer Dmitri Love, who made a deal with Mr. Wonderful on Shark Tank. As of 2024, Bundil is valued at $1.5 million.
Background of Dmitri Love
Dmitriy Love is from Cave Springs, Arkansas. He was a research scientist and football player while studying biochemistry at the University of Arkansas. But when he suffered a serious knee injury, he taught himself to program.
In 2016, he interned as a developer at Adair Creative Group. The following year, he was hired as a lead software engineer at Slipstream Creative and a web developer at Readingglasses.com.
The Arkansas resident later signed contracts with companies such as Daystar Television Network, Lockheed Martin, Hidrent and Method. He also dabbled in the cryptocurrency industry.
The Birth of Bundil
After learning all about cryptocurrency investing, many of Dmitri’s friends and family asked him how to invest the right way and in an easy way. He initially thought that everyone needed to go through what he was going through.
Until he created a solution that changed his mind. In 2018, Love developed a subscription service that helps users automatically invest the spare change from debit and credit card transactions.
Bundil offers investment opportunities in all top cryptocurrencies like Litecoin, Ethereum, and Bitcoin. He first let his mother and other close people use it, but they found it not very practical.
Selling Bundil on Shark Tank
The programmer knew the business had great potential, but he needed help attracting customers. Six months after launching Bundil, Dmitri Love appeared on Season 10 of Shark Tank, asking for $100,000 in exchange for 10% equity.
Shortly after starting the pitch, Lori Greiner said she backed out because she didn’t believe in the cryptocurrency hype. Even so, the sharks were impressed by how much Love knew about her company.
Daymond John and Mark Cuban dropped out for different reasons. Kevin O’Leary was the only one left because he was a big investor in the space. Kevin offered $100,000 for 50% of the startup. Dmitry was very hesitant but took the deal.
How has Bundil fared since Shark Tank?
After Shark Tank Bundil received media coverage from Forbes, CNBC and the CES conference. According to Sharktankblog.com, there is no evidence that the deal with Kevin has been completed. Usually, Kevin O’Leary will promote his investments in interviews, but he has not mentioned Bundil recently.
Despite this, the company is still operating, and the number of supported cryptocurrencies is growing as new upgrades are released. It has 3.9 stars on the App Store and 2.7 stars on Google Play. These reviews compare favorably with competitors such as Cash App, Coinseed Savings, and RoundlyX.
The company’s business performance may not be as good as expected, and the founder is currently working as a senior product manager at Method. Bundil’s annual income is estimated to be $200,000 and his market value is $1.5 million.
Categories: Shark Tank
Source: svlsf.edu.vn