Dating By Blaine Shark Tank Update - Net Worth, Pitch & Deal - Shark Tank Insights (2024)

Shark Tank Season 15 Episode 3 has seen a unique dating service provided by entrepreneur Blaine Anderson. She entered the show compared with her relationship coaching service business, where she helped men attract the women they loved.

The Sharks were immediately impressed by the lifetime revenue of $2.2 million. The financial performance caught them off guard, but they found evident issues in the business model and valuation demanded by the founder.

Blaine tried convincing the Sharks to value feelings more than numbers. Despite her efforts to strike a deal, Sharks preferred scalability. Did Blaine persuade the Sharks to invest in her business? Find out in our Dating by Blaine Shark Tank Update.

Dating By Blaine Net Worth

Blaine Anderson asked for a $100,000 investment in exchange for 2% equity in her company when she appeared on Shark Tank. This meant she valued her company at $5 million. She made a deal with Mark Cuban for $100,000 in exchange for 10% of her company. This new deal valued her company at $1 million.

After the show aired, Dating by Blaine saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Dating by Blaine is about $1.21 million.

What Happened To Dating by Blaine After Shark Tank?

Blaine arrived on the Tank with her coaching service business for the men struggling with their love life. None of the Sharks took the concept seriously until Blaine disclosed her $2.2 million lifetime sales. The negotiation went well in the end.

After its appearance on the Shark Tank, nothing has changed for Dating by Blaine. The website has positive reviews, and the courses cost the same. This suggests that the company did not change its business model. However, the absence of mention of Shark Tank on the official website is concerning. It makes us doubt the subsequent translation of the deal.

Did Dating by Blaine Get A Deal On Shark Tank?

Michael Rubin was the first Shark to bow out because he did not find the Dating by Blaine’s business model scalable. Lori Greiner and Barbara Corcoran refrained from investing in the business because they heard Blaine say she needed a family guy to project a strong brand image on the consumers.

Kevin O’Leary offered Blaine $100,000 for 15% of her company, but she did not agree with the low valuation and the fact that Kevin was not a kind Shark. Mark Cuban initially opted out due to unrealistic valuation, but he re-entered the negotiations when Blaine praised him for his kindness.

Mark asked Blaine to give him a decent valuation. Blaine offered 8% of the company for $100,000. Mark countered the offer with 10% of Dating by Blaine.

Dating by Blaine Shark Tank Update

Blaine Anderson’s Backstory

Blaine Anderson has loved love ever since she was a child. She always wanted to know who went out with who. However, she never saw a career in this. She worked in the traveling industry when the pandemic hit, and she was fired from her job.

Blaine did not know what to do when she was unemployed. Her then-boyfriend suggested making an adequately scalable course that required no investment. She went to the dating app to start her consultancy and training journey. She called herself a dating coach on dating apps.

Blaine received hundreds of emails. The business started slowly in the first year, but the sales rocketed in subsequent periods.

Initial Pitch

Blaine Anderson entered Shark Tank with a solution to spread love between couples. She began her pitch by demanding $100,000 for 2% of her company, Dating by Blaine. She presented Mark Cuban as a single who texts Barbara Corcoran and does not know how to flirt.

After quoting the most awkward hook line, Blaine explained that she had a dating course on her website to help Mark Cuban land a date. She elaborated that her job was to train single people for dating. The courses were online and had one-on-one sessions.

Queries About The Product

Lori Greiner started with the most appropriate question to assess the demand for the services, as she asked for the sales and the life span of the company. Blaine explained that she started Dating by Blaine in the middle of 2020. The business had a lifetime revenue of $2.2 million. Sharks were impressed by the unexpected numbers.

Blaine elaborated that the company only managed to sell courses worth $22,000 in 2020. However, the sales inflated to $484,000 in 2021. The business closed 2022 by doubling its revenue from the last year and surpassed the $1 million mark. During 2023, Dating by Blaine was set to sell courses worth over $1.5 million.

Michael Rubin inquired Blaine about the business model. Blaine explained that her primary course was a dating master class that had a selling price of $1,295. The courses were online and prerecorded for people to go at their own pace. Prerecorded courses needed small one-on-one interaction with the trainer.

Kevin O’Leary asked if Blaine had staff to provide training or if she handled everything on her own. Blaine confirmed that she was the only full-time employee. They hired some contractors to provide support.

Lori wanted to know why Blaine did not provide consultancy to women. Blaine acknowledged that she got into the women segment because she did not want to work only with men. However, she assessed her marketing strategy and found it better to narrow down her target market for better results.

Kevin asked why Blaine considered herself an expert. Blaine explained her love for relationships and the struggles she went through during the pandemic period. These things are already explained in the backstory section of the update.

Barbara Corcoran questioned if the business has other companies that could knock it off. Blaine claimed that Dating by Blaine was the leader in relationship coaching and consultancy. However, there were some dating apps that had coaches providing the same services.

Michael argued that providing a dating coach service was not a scalable business until the company could find a way to turn it into a product. Blaine disagreed and told Michael that the $149 texting course was a scalable service.

Mark Cuban asked how many courses the company sold over its lifetime. The information was useful to help him understand if the business was scalable. Blaine said that she was not sure about the exact numbers. However, she tried mitigating the question by explaining the revenue structure of one-on-one sessions.

Mark did not let his attention divert, as he asked about the number of courses sold last year. Blaine struggled with math, but after doing calculations, she concluded that her company offered 900 courses during the latest completed year.

Kevin asked about the margin to know if he could recoup his investment through royalties. Blaine explained that the business achieved around $500,000 during the latest completed year. She further added that the company incurred heavy non-recurring expenses that resulted in reduced margins.

The investments and one-off expenses included purchasing a vehicle and renovating the home office. Michael questioned Blaine regarding why she needed a shark. Blaine explained she needed a family man with strong public relations on her executive table. Having such a partner would help the business project a positive image.

Sharks’ Response And Final Deal

Michael Rubin was the first Shark to opt out because he lacked confidence in the business model. He did not see the training sessions as a scalable source of income.

Mark Cuban could relate to Blaine’s objective and wanted to help the business grow from 900 classes to 9000. However, he did not like the fact that he had to pay $100,000 for just 2% of the company. He argued that the company would have to make $5 million to recoup his $100,000 investment.

Kevin O’Leary said that numbers were not Blaine’s strength, so he assumed the valuation was a mathematical mistake. He offered to help the business but not at 2%. Lori Greiner complained that Blaine did not need female investors in her company, to which Blaine disagreed.

Lori Greiner and Barbara Corcoran agreed they heard her saying she wanted family men on her panel. Blaine explained that she wanted Mark because of his kindness. Her business meant everything, and she needed empathy to help her grow. Barbara and Lori opted out because they wanted Blaine to strike a deal with a handsome-looking family guy.

Kevin offered Blaine $100,000 for 15% of her business. Before Blaine could respond, Barbara asked Mark to reconsider his decision. Mark said that he was the luckiest guy and he had everything. He recollected his teenage years when he was too short and fat to talk to girls. He asked Blaine to give him a number that was worth his while according to what Blaine expected from him.

Blaine asked Mark for $100,000 for 8% of the company. Mark countered her with 10%, and Blaine accepted it, so they struck a deal.

Product Availability

Though Blaine Anderson started providing services via dating apps, the company currently sells its services on the official website. The website has lots of positive reviews, but I do not think it is a scalable business. The dating consultancy market depends a lot on the reputation of the consultant. Dating by Blaine is enjoying success due to its owner’s face value.

Conversion of the service into a product, such as a dating app, is critical to ace the competition and scale the business. The courses on the website range from a simple texting course worth $149 to a premium one-on-one service over $6,000. Dating by Blaine is a market leader in the dating industry but must evolve to maintain its market share.

Conclusion

Dating by Blaine impressed the Sharks with its unique concept and exceptional financial data despite the competition in the dating industry. The $2.2 million lifetime revenue was the only reason to believe the founder was doing things right. However, the unrealistic business valuation from Blaine and the reluctance to take female investors made it hard for her to strike a deal.

Despite numbers being her weakness, Blaine Anderson managed to strike a deal with Mark Cuban. Her clear vision about which Shark could add value to her business and her reluctance to give up feelings made Mark a believer. Dating by Blaine is well on track to become the next big thing in the dating industry.