The Rolodoc app was designed to improve communication in the medical field. Rolodoc was a social media network created for doctors and their patients. However, Albert and Richard Amini did not do a good job of marketing their business on Shark Tank. As a result, the doctors failed to close a deal. As of 2024, Rolodoc is valued at $0 and the company was shut down after the show.
About the Founder
Registered doctors Albert and Richard Amini are brothers from Granada, Spain. They currently live in Arizona, USA. As children, they lived in different states including California, Florida, and Illinois.
Albert received his undergraduate degree from the University of Chicago and his medical degree from Northwestern University Feinberg School of Medicine. After completing his residency and developing his specialty, he founded Arizona Premier Surgery.
Richard completed his undergraduate and medical education at Loyola University Stritch School of Medicine. After becoming a professional, Richard was hired as a professor and assistant dean at the University of Arizona.
Founding of Rolodoc
The Amini brothers were inspired to change the traditional way medical staff communicate with patients. They wanted to change the way doctors send urgent messages via pagers.
Additionally, doctors wanted to provide patients with a way to choose their doctors and securely share medical information. The brothers created Rolodoc, essentially the Linkedin of the medical world.
However, there wasn’t a lot of information about the company online before it appeared on the reality show because it was an early-stage startup. These days, such companies wouldn’t be accepted to compete on Shark Tank.
Shark Tank Appearance
In 2013, Albert and Richard Amini’s plans to take Rolodoc seriously finally paid off when they appeared on Season 5 of Shark Tank, seeking a $50,000 payoff in exchange for a 20% stake.
The presentation started off lighthearted but quickly went bad. Mark Cuban was particularly frustrated because the founders were just using buzzwords and didn’t seem to have a business plan. They kept repeating the word “social media,” which annoyed the sharks.
The brothers had no substantive evidence to back up their claims. Cuban walked up to them, shook their hands, and told them it was the “worst pitch” ever on Shark Tank. The business idea was poorly executed, but Cuban’s approach was extremely rude. Oddly, Kevin O’Leary was much cooler about the situation. All of the Sharks quickly quit.
After Shark Tank
It’s safe to say that the pitch didn’t go as planned, and the founders shut down Rolodoc shortly after Shark Tank. The guys had done little to no preparation, and the company had no clear direction. They also didn’t explain how it would replace pagers.
Even with better and more informative presentations from Albert and Richard, the amount of privacy and security regulations was too overwhelming to overcome, and unsurprisingly, both founders returned to their day jobs.
Richard continues to serve as a professor at the University of Arizona College of Medicine, specializing in emergency medicine, while Albert serves as a clinical instructor at the Medical College of Wisconsin Froedt Hospital.
Categories: Shark Tank
Source: svlsf.edu.vn