Stem Center USA. Stem Stands for Science, Technology, Engineering, and Math. They prepare children for college. The center is in Pomona, California.
STEM Center is making their pitch in Shark Tank Season 7. The organization has annual memberships ranging from $135 monthly. They had $300,000 in revenue the year before. They ran a Kickstarter and raised $170,000.
Stem Center Episode Information
Company: Stem Center
Twitter | Facebook | Website
Entrepreneur: Lavanya and Melissa Jawaharlal
Ask: $150,000 for 15% equity
Companies in this episode: Rent Like a Champion, Hotshot, Windcatcher Technology, Stem Center
Season: Season 7 Episode 706
Sharks: Mark Cuban, Chris Sacca, Kevin O'Leary, Lori Greiner, Robert Herjavec
First Aired: 01/30/2015
Deal: Lori Greiner $200,000 for 20% equity
What do the Shark Tank Investors say about Stem Center
- Mark Cuban sees that they want to grow, but they are too open-ended for him. He is out.
- Chris Sacca likes to see women in technology. He is raising a couple of girls and thinks there is something mission-driven behind Lavanya and Melissa. Chris profoundly believes in their mission, but the valuation is steep because of the platform. Chris offers $150,000 for 25% equity. They think the company is worth more. He asks what the terminal event is for the business? Chris wants to hear a counter, and he wants the deal, but he feels that this is not Lori's type of deal. He wants to own more of the company, and he wants skin in the game. Chris came down to $150k for 22%
- Kevin O'Leary would like to have the program be a little farther down the road so he could pour gasoline on this. He is out.
- Lori Greiner says she has something to share. Lori plays the women card with the girls. She likes them, what they are doing and what it will do for women. She offers $150,000 for 20%. Lori went to $200,00 for 20% after Lavanya and Melissa asked for them to go to the higher amount of the percentage.
- Robert Herjavec is excited about Lavanya and Melissa, but he is not as enthusiastic about the mission, so he is out.
Lavanya and Melissa would like to do a deal with Chris and Lori.
Stem Center after Shark Tank
Stem Center is active and set up the investment from Lori so that they could open another location.