ReThink – Cyberbullying Software
DEAL
EPISODE SUMMARY
🕓 Air Date: September 23, 2016
Asking For:
$100,000 for 20%
Investor:
Mark Cuban, Lori Greiner (50/50)
Deal:
$100,000 for 20%
PRODUCT SUMMARY
ReThink is an app designed to combat cyberbullying by detecting and intercepting offensive messages, giving users a chance to reconsider before sending harmful content.
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Background Story
ReThink, an innovative cyberbullying prevention app, traces its origins to the passionate vision of its founder, Trisha Prabhu, a remarkable 16-year-old high-school junior hailing from Naperville, Illinois. Trisha’s journey into the realm of technology and entrepreneurship began at the age of 10, when she first started coding—an early start that would later prove pivotal in the creation of ReThink. The catalyst for ReThink emerged from a deeply personal and poignant experience. At the age of 13, Trisha encountered a distressing online story about the tragic death of an 11-year-old girl due to persistent cyberbullying.
This heartbreaking revelation deeply affected Trisha, igniting a determination to leverage technology to combat the pervasive issue of cyberbullying. Motivated by a desire to make a meaningful impact on an issue exacerbated by the very technology she was proficient in, Trisha set out to develop ReThink. The app is strategically located at the intersection of empathy and technology, designed to intercept and prevent hurtful messages from being sent. The core idea is to empower adolescents to pause, reflect, and reconsider their decisions before engaging in harmful online behavior.
Trisha’s commitment to addressing cyberbullying extends beyond the app itself. She recognized the pivotal roles that educators and parents play in shaping a positive online environment for adolescents. To this end, ReThink is not merely a technological solution but a comprehensive program that includes educational curriculum and analytics, fostering a collaborative approach to tackling cyberbullying in schools. With her coding prowess and a deep sense of empathy, Trisha Prabhu has transformed a personal tragedy into a mission-driven venture, aiming to make a substantial difference in the lives of countless individuals affected by cyberbullying.
The Product
ReThink is a cutting-edge app designed to combat cyberbullying by providing users, particularly adolescents, with a second chance to reconsider and prevent the sending of hurtful messages. Operating seamlessly in the background of various messaging platforms and social media, the app employs a sophisticated algorithm to detect potentially offensive content in real-time.
When a user attempts to post a message considered offensive, ReThink intervenes with a pop-up alert, prompting the sender to pause and reconsider their decision. This innovative approach empowers individuals to make more conscious and positive choices in their online interactions. Importantly, the user retains control, with the ability to proceed with the message after due consideration.
ReThink not only serves as a personal tool for self-reflection but also extends its impact to the broader community. The app includes features that encourage positive online behavior and fosters a culture of empathy and responsibility. Through an educational program, ReThink engages schools, providing curriculum support and analytics to monitor the app’s effectiveness in anti-cyberbullying education.
The app is available for download on both the Google Play Store and the App Store, making it easily accessible to a wide audience. While the pitch did not specify the pricing model, the focus of ReThink is on its societal impact, with potential funding sources coming from educational programs, partnerships with schools, and, as indicated in the pitch, interest from carriers like T-Mobile Europe.
How It Went
The company’s position before Shark Tank
ReThink demonstrated a promising trajectory in terms of impact and user engagement. The company’s health and position were notably strengthened by its participation in the We Think ReThink Educational Program, which garnered $52,000 in funding. This program showcased the demand and relevance of ReThink in educational settings, with 1,200 schools expressing interest for the upcoming academic year. Partnerships formed a crucial aspect of ReThink’s strategy, with a focus on engaging educators and parents. The pitch highlighted collaborations with schools, providing them with the ReThink technology on school devices, curriculum support, and analytics to monitor the app’s efficacy in anti-cyberbullying education.
Additionally, the app had attracted attention from T-Mobile Europe, indicating potential partnerships with major carriers. While the pitch did not delve into specific details regarding wholesalers, the emphasis was on educational programs and collaborations with carriers, suggesting a unique distribution model primarily centered around schools and potential carriers. ReThink’s customer base primarily comprised students, parents, and educators invested in fostering a positive online environment. The educational program targeting schools demonstrated an understanding of the crucial role institutions play in addressing cyberbullying.
In terms of funding, the $100,000 sought during the pitch was intended to hire employees and build infrastructure for a large-scale rollout, showcasing a forward-looking approach to expansion. ReThink’s decision to turn down an early-stage offer from T-Mobile Europe hinted at a strategic approach to securing partnerships, suggesting a focus on refining the product and building infrastructure before entering large-scale collaborations. The company’s position seemed poised for growth, with the founders expressing confidence in the potential for ReThink to evolve beyond a regional carrier and become a globally impactful solution to cyberbullying.
The Negotiations:
The negotiations for ReThink unfolded in the Shark Tank with a mix of admiration for the product’s societal impact and concerns about its business viability. Trisha Prabhu sought $100,000 in exchange for a 20% equity stake in her cyberbullying prevention app. While expressing skepticism about the business model, Mark Cuban and Lori Greiner were moved by Trisha’s passion and the app’s potential impact. They jointly offered the requested amount but proposed a 30% equity stake. Damon, on the other hand, offered the $100,000 investment but requested a higher 30% equity stake.
Barbara and Kevin expressed concerns about the app’s potential profitability, suggesting it might be more suited as a charity rather than a business. Despite the concerns, Trisha remained steadfast in her commitment to making a business out of ReThink. Ultimately, Trisha accepted Mark Cuban and Lori Greiner’s joint offer of $100,000 for a 20% equity stake. The decision was influenced by the Sharks’ expertise and their shared passion for the cause.
Mark and Lori’s strategic partnership, along with their industry connections, were perceived as valuable assets that could help ReThink achieve widespread adoption and success. The negotiations showcased the delicate balance between the app’s societal impact and the Sharks’ concerns about its business potential. Trisha’s acceptance of the offer marked a pivotal moment, signifying a partnership that aimed not only to make a profit but also to effect positive change in combating cyberbullying on a global scale.
