Sharks and founder of Blackdot on Shark Tank Season 16- image source @sharktankabc
There are many tattoo enthusiasts among us. We love the intricate designs and the feeling of ink on our skin, but what we are not really a big fan of is the pain of getting a tattoo. What if someone could reduce that pain and still offer you beautiful tattoos? Blackdot is here as the savior.
Joel Pennington’s innovation is all about bridging that gap in the tattoo industry. His device makes tattoo application easy. He brings his business, Blackdot, to Shark Tank Season 16, Episode 14.
Will the sharks be ready to join the tattoo revolution and give it a boost?
About Blackdot
| Category | Details |
| Founder (Plural if multiple) | Joel Pennington |
| Product Type | Automatic Tattooing Device |
| Funding (Pre-Shark Tank) | $4.5 million |
| Investment Asked | $1.5 million |
| Equity Offered | 5% |
What Happened on the Shark Tank Episode?
Joel enters the tank asking for $1.5 million in exchange for 5% equity, valuing Blackdot at $30 million. The sharks react with surprise, and Mark Cuban sarcastically quips, “Is that all?”
He then questions Joel if there is a real business behind this. Joel admits there is and explains to the sharks how things work in his company. He presents the fake skin—synthetic skin samples with Blackdot tattoos made by their device.
Joel further explains that the tattoo industry is a multibillion-dollar market that has seen little innovation in over 5,000 years. He highlights the growing number of people getting tattoos, as well as those who want one but hesitate due to the potential pain.
The entrepreneur reveals that Blackdot has introduced the world’s first automatic tattooing device. The product is paired with an online marketplace for elite tattoo art. He explains the process, licensed designs are uploaded to their platform, and the device creates the design with unmatched precision.
Daymond reveals something amazing: he has over $300,000 worth of ink on his body.
Joel briefly describes his business, stating that Blackdot was founded in 2019 and has raised $4.5 million in venture funding. The company officially launched in October 2023.
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What Makes Blackdot Unique?
Blackdot has created an automatic tattoo machine that reduces the intensity of pain. They also have a website featuring tattoo art. The best artists upload their designs online, and the machine replicates them with precision. With Blackdot, you get a wide range of designs to choose from.
Did Blackdot Get a Deal on Shark Tank?
It appears to the sharks that Joel does not have a solid business model for his venture. They struggle to see how they could position themselves in the journey that Blackdot aims to revolutionize.
Kevin adds to the feedback, stating that he did not particularly like Joel’s presentation. He believes the investment ask was too high and that the entrepreneur failed to justify it.
Mark, on the contrary, says he doesn’t think Joel did that badly. However, he believes Joel overlooked something important. He points out that once Joel pivoted to having a machine, he should have focused on the consumers—the tattoo shop owners—rather than the end users. Mark explains that shop owners are the ones making the hardest decisions, so Joel needs to clearly define their value. With that reasoning, Mark decides to go out.
One by one, all the sharks follow suit, wishing Joel the best as he leaves without a deal.
What Happened to Blackdot After Shark Tank?
Blackdot has been promoting their brand on social media and attracting netizens to explore their innovation in the world of tattoos. Following its Shark Tank appearance, Blackdot experienced a surge in online searches and social media engagement, with more users exploring its innovative tattooing technology. Shark Tank has posted about the business on their Instagram, giving Blackdot more visibility.
Where Can You Buy It?
Visit their website to know all about the experience. Check out their Instagram handle for cool designs and exciting updates.
Quick Summary
- Blackdot offers an automatic tattooing device designed to minimize pain, paired with an online marketplace where artists can sell high-quality tattoo designs.
- The device precisely replicates intricate tattoos, providing a seamless and efficient tattooing experience.
- Despite its innovation, Blackdot did not secure a deal on Shark Tank, as the sharks found the valuation and business model unconvincing.
