Founder Of Nameberry On Shark Tank Season 16 (Image Source – Instagram@nameberry)
Highlights
- Nameberry is the world’s biggest resource for parents searching for the perfect baby name.
- Founded by Pamela Redmond, the product offers expert knowledge on name meanings, origins, and trends.
- Nameberry provides inspiration and guidance, making the baby-naming journey easier for parents.
| Product Name | Nameberry |
| Founder | Pamela Redmond |
| Industry | Website/Service Based |
| Product | Baby Names Website |
| Funding | Self-Funded |
| Investment Ask | $350,000 |
| Equity Ask | 5% |
In Shark Tank Season 16, Episode 10, entrepreneur Pamela Redmond walked on the show confidently to present her business, Nameberry. She started off her presentation by explaining how names shape our identities and influence our lives explaining what her product truly delivers.
Nameberry came into existence back in 2008, from the source of ten ground-breaking books about names co-authored by Pamela Redmond and Linda Rosenkrantz. They previously published their first book Beyond Jennifer & Jason back in 1988, which had a lot of info on names origin and meaning. Overall, the product helps in finding the cultural influences on name trends explaining the true meaning behind its origin. Naming a baby in today’s date takes a lot of efforts. Issues like family pressure and couple disagreements when it comes to naming a baby arises at some point and with Nameberry there is a smooth solution to this issue.
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Nameberry: What Happened On Shark Tank Season 16?
To make this pitch more fun and exciting, Pamela explained what each of the Shark’s names meant. She said to Kevin O’Leary that his name means “handsome” in Irish but can also mean kid, gentle, and beloved. Kevin thought it was funny and agreed but Lori Greiner joked that “doesn’t fit” him. She continued to share some interesting facts; she revealed that Mark Cuban received his name because he was named after Mars, the Roman god of war. Lori got hers from the laurel tree because it was symbolic of victory and honor.
Pamela then stated that Kendra was once a male name, coming originally from Kenneth but later became very popular as a female name. As she approached Daymond John, she shared that his name actually means “keeper of livestock.” Everyone had a good laugh because Daymond is also a beekeeper. After this interesting introduction, Pamela got down to the crux of her business. She described how her love for baby names inspired her to create Nameberry, currently the largest baby name website. It has an enormously large database, name lists, and active community. At the end of her pitch, Kevin O’Leary spoke immediately. “That’s a very interesting valuation.” The other Sharks were intrigued too.
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Did Nameberry’s Pitch Make The Cut To Get A Deal?
So Pamela was really strong at pitching, and she made it very clear what she wanted from the future of Nameberry. She said that she wanted to use artificial intelligence so that this place could be more powerful. So Kevin was quite interested and asked how Nameberry makes money. She immediately responded, “Currently, we generate revenue through ads. But we want to switch that model around. We want to bring AI to Nameberry.”.
She said her aim was to train an AI model on the 40 years’ worth of data Nameberry had accumulated. In terms of pages, it stood at millions; she thinks this gives the platform a uniqueness of unmatched potential. At this point, the topic was on ownership and equity. She mentioned that currently, three people own Nameberry, although she owns the most significant portion of it.
Kevin spotted an opportunity and took his chance. He wanted to take a bigger stake in the business, so he offered that he should be given 33.3% ownership. Pamela was not willing to part with that amount of control. She came back at him and offered him 24.9%, stating she would be holding 50.1% ownership, thus maintaining her majority.
Kevin finally accepted her proposal after some negotiating. They shook hands, sealing the deal. Kevin walked over and hugged Pamela. This was an investment for Nameberry to make a leap into the future of exciting possibilities through AI innovation.
