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This App Made $200,000 Right After It Premiered On 'Shark Tank'

February 3, 2014
URL: http://www.entrepreneur.com/article/231225

Last week, iPhone video app Cycloramic premiered on ABC's invention show, Shark Tank. Cycloramic lets you take 360-degree videos on your iPhone without using your hands at all. The app uses the phone's vibrations to turn itself in a circle.

The app was a hit with both the judges and viewers. The judges, including billionaire Mark Cuban, gave Cycloramic $500,000 at a $3 million valuation. The creator, Bruno Francois, was only seeking $90,000. When the episode was filmed over the summer, Cycloramic had 660,000 downloads. It costs $1.99 in the App Store.

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Now, Francois tells 9to5Mac's Jordan Khan that it has more than 8 million downloads. About 100,000 new downloads flooded in within an hour of Cycloramic's Shark Tank debut.  That means Cycloramic made about $200,000 in 60 minutes. Cycloramic and its sister app jumped from obscurity to top placements in the App Store as well.

"By the next App Store Ranking period we went from overall ranking #800 to #2 for the Cycloramic Pro Version and from #220 to #1 for the Cycloramic Studio," Francois tells Khan. "Also our new selfie360 app did 30K downloads and went from no ranking  to #7 in the Photo Category."

Here's the winning presentation, below.