Virtuix appearing on Shark Tank!

RaoulRaoul Posts: 125
edited April 2014 in In the News
It seems like Virtuix will be making an appearance on Shark Tank in a two weeks. The episode may contain some nice information for us OMNI enthusiasts.

[ Link removed]***Original video missing on YouTube***

Hope they don't take some stupid deal, but whatever happens Virtuix should get some nice publicity out of this. :)

Peering into my crystal ball I predict the Sharks will think there is not enough margin on the product.

Comments

  • sutekiBsutekiB Posts: 1,059
    Thanks for the preview. Could you post a link to the episode when it goes up pls? I look forward to seeing this.
    Community Manager at Virtuix
  • RaoulRaoul Posts: 125
    Will do, any idea when this was filmed? I'm kind of curious to know how long it takes the show between filming and airing an episode.
  • sutekiBsutekiB Posts: 1,059
    I don't know, sorry.
    Community Manager at Virtuix
  • I don't know the price of this product yet however considering that a special edition of a video game costs as much as $175 a $350 to $450 price tag would be within reason for the general consumer with a cost to make price of just under $100 which would come down with time and quantity, these are just numbers I haven't the foggiest idea what it costs, I know I'm getting 1 as well as the O Rift no matter what, 1 cant exist without the other to get the full experience period otherwise what's the point
  • Publicity indeed Raoul, after hearing about this here I did some Googling. xD

    Needless to say, message boards are blowing up about the Omni and the Rift being on national television.
    supermansig.png
    Props go to Plixity for the sig.
  • RaoulRaoul Posts: 125
    @Xfactor333, welcome to the forum.

    Don't have any specifics either but I would be very surprised if the OMNI has a cost price of around $100. If I had to guess I think it will be closer to $350-$400. Especially if you take into account tooling costs like a mold for the OMNI base. But those are standard questions on Shark Tank so maybe we'll find out in two weeks.


    @SuprM4n

    Whatever people might think about reality tv shows like Shark Tank, it has a live audience of around 10 million. Would be hard pressed to think how else you can reach such a large group of people most of whom have not even heard about the revival of VR.
  • RaoulRaoul Posts: 125
    edited April 2014
    The episode of Shark Tank featuring the OMNI is up on youtube, check it out:

    [ Link removed]***Original video missing on YouTube***
  • sutekiBsutekiB Posts: 1,059
    Thanks Raoul, knew I could count on you! I really enjoyed that, thought it was fantastic exposure for the Omni.
    Community Manager at Virtuix
  • ScotKinneyScotKinney Posts: 1
    edited December 2013
    The Sharks are not always real smart...lol They passed on the Omni and the Fohawk...what were they thinking? I watch the show every Friday and am amazed at the things they pass up. Other than Mark Cuban, they're not a tech savvy group. I understand the point about lazy gamers not wanting to do that much work and the issue of display space in stores. Both present problems. However there is definitely a fitness craze still going on in the US if not other countries. Who really wants to be fat? Parents should give their kids one for Christmas and limit their time on their favorite game unless they use the Omni...seriously. Their thought that it was too expensive really shocked me though. I think if they would have gotten down to the cost to produce they would've said it's priced too low. I wonder if they've gotten a big spike in sales from the show airing? I bet Jan is getting a lot of emails today. I personally want one instead of the treadmill I was just about to buy. When I first put on the Rift I immediately felt like I was only getting half the experience. Then I heard about the Omni yesterday and decided I have to have one! I want full body immersion, full Virtual Reality! I also have a game studio and am anxious to get the Omni in and tested. Check it out at http://www.AlterVerse.com. We'll be releasing a couple of demos very soon.
  • adminadmin Posts: 169
    Mission accomplished: great demo and publicity! Sales are up significantly. While we were not the right fit for this type of investors and had no intention to do a deal, the marketing and publicity has proven invaluable. We are very grateful for the opportunity to showcase the Omni and virtual reality to mainstream America. I think VR made another step tonight towards becoming a mainstream medium.

    Great job by the editors: my confident "certainly, no problem" after each "I'm out" was replaced by dramatic looks and close-ups - ha!

    Jan
  • sutekiBsutekiB Posts: 1,059
    edited April 2014
    Hi ScotKinney,welcome to the forums! I was monitoring twitter while it aired and there was a huge positive response and lots more people saying they would order one, so it was definitely worth Virtuix appearing on the show. I would personally have valued the company much higher!

    Yes Jan, the close ups were great. You were more dramatic than this guy:

    Community Manager at Virtuix
  • JuxJux Posts: 1
    I'm here because I just saw Omni on the Shark Tank about ten minutes ago and immediately thought 'my own mini holodeck!' take all my money! It's the first thing that has appeared on Shark Tank that I want to buy one day. What they were saying about gamers not wanting to move is only true in part. Sure, sometimes I'm just going to want to game sitting down but now I have the option to game while in motion. It's wonderful. The exercise benefits are what excite me the most. Why walk on a treadmill at the gym when I could explore Skyrim or take a walk around the citadel in Mass Effect 3? I see this as something my step daughter would love as well and I would love for her to be able to get some exercise while playing minecraft!

    I can't remember if this was mentioned but is there any way that this could be incorporated with Google maps? The chance to walk around cities I've never been two would be amazing and that would appeal to my partner who isn't a gamer. It would be a chance for us to see places that we may never be able to visit.

    The price point is a little difficult for me but understandable given the tech. What is stopping me from saving up for one right now is that I'm a console gamer currently saving for the ps4 and the Xbox One. My crappy laptop won't cut it so I would have to save up for a gaming PC too. Which is something I want to do but if Omni were able to become compatible with the PS4 or Xbox One in the next year or two, I would definitely be able to buy one sooner after saving for the glasses (a packaged deal would be awesome btw).

    I will be keeping an eye on the Omni until I can afford one. So awesome!

    Just for your reference. 29/f/PA USA
  • " What they were saying about gamers not wanting to move is only true in part."

    I guess that's why the Kinect was such a failure.

    Really have to freeze a smile on your face and talk in very short, dramatic sound bites on TV.

    Anyways, it was very cool I think. I generally agreed with the comments made, but then I also think Jan should compete with Oculus which will justify his valuation. The Shark Tank guys should have included that in their commentary.

    I also disagree with the subset of subset argument. I think the omni will convince people to buy the Rift.
  • CaraDCaraD Posts: 1
    "They passed on the Omni and the Fohawk...what were they thinking?"

    I'm really disappointed the Omni wasn't funded. I think their whole attitude "gamers don't want this" is definitely wrong. As a gamer, I like to be as fully submersed into a game as possible - this is definitely true for games that have stunning graphics, are FPS, etc. I would absolutely buy this setup, and am actually pretty giddy that it's only about $1000. Not cheap, but it's definitely way cheaper than I would have ever imagined for a VR setup! Sure, sometimes I just want to sit on my rear end and be a couch potato, but give me the option of going to the gym and jumping on a treadmill or going out and shooting zombies, and I'm pretty sure I'll choose the latter option 10 times out of 10. ;)

    Personally, I'm not surprised the Fohawk wasn't accepted. It's $20 for an attachment - you still have to buy a helmet. There are plenty of similar items on the market - both helmets that already have funky styles (Raskullz) as well as "helmet covers" that are just as interchangeable as the Fohawk. The two women didn't seem to accept that, they kept falling back on "we're two moms trying to start a company." That's great and all, but they were very separated from their intended market. There *are* similar products on the marketplace, and if you aren't willing to acknowledge that, you're just shooting yourself in the foot. They're also one of the only people I've ever seen brought to tears (or nearly so) by the sharks, either during the show or in the followup scene. If you're going to be an entrepreneur, you really need to develop a thicker skin.

    Was this episode filmed before or after the Kickstarter that Virtuix ran back in June? I'm not sure what the delay is like between an episode being filmed and when it airs, but it seems like if the Kickstarter was done beforehand, that would have made a good thing to add to get the funding.
  • sutekiBsutekiB Posts: 1,059
    edited April 2014
    Hi CaraD, the show was filmed after the Kickstarter. Don't worry, raising funds is not a problem for them. They have more than enough money to develop a top quality product and release it to all the VR enthusiasts out there. The publicity was extremely valuable and I think it must have been the main reason for participating.
    As I've said before I believe the Omni pays for itself after a couple of years if you only used in place of a gym membership. When you think of the added enjoyment you'll get from games and applications too it's really excellent value for money.
    Here's the clip if anyone still hasn't seen it:

    Community Manager at Virtuix
  • lol at the editing to be dramatic. Awesome to hear that sales have increased.
  • I think the concept of immersive gaming was above the heads of investors on this show... On a more conventional note, the treadmill and elliptical trainer markets don't seem worried about marketing and selling their products, and this is in fact a treadmill, without moving parts. Last I checked, a good treadmill cost about $800 - and most end up being a clothing rack in the basement - so much for the "floor space" point as well. I don't see this happening with this idea, I would definitely make a point to use it 30 minutes a day for cardio, and not get bored staring at the wall like on a treadmill. To your point this is also a new genre of activity and I believe that the wii, kinnect and PSMove were a logical fist step to prepare people for this eventuality.

    We plan on tossing our treadmill for one of these.
  • I think the funding round was too rich for Shark Tank.

    I am very sure Jan could get 2 million on 20 quite easily. They're the darling of every conference they go to.
  • Our episode should air again sometime this month.
  • @modman is there any link to the episode online??
  • sutekiBsutekiB Posts: 1,059
    @ShadowCaster007 It's on YouTube, Season 5 Episode 11. Look out for the dramatic close-ups!
    Community Manager at Virtuix
  • @sutekib found it!
  • it's ashame the sharks didn't bite
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