Todd Robbins and David Adamovich appeared on Shark Tank Season 1 with their idea for FunHouse, an entertainment venue attraction in New York City’s Times Square. They asked for $300,000 for 20% equity at a $1.5 million valuation.
They come from backgrounds in magic and knife throwing and have years of experience in the live show industry. Let’s find out how the Sharks reacted to their business idea and what happened to the business after Shark Tank.
| Company Name | FunHouse | |
| Founder/Co-Founder | Todd Robbins and David Adamovich | |
| Founded | 2009 | |
| Product | Entertainment venue | |
| Asked For | $300K for 20% equity | |
| Final Deal | No Deals | |
| Shark | No Sharks | |
| Episode | S1 E7 | |
| Air Date | Sep 29th, 2009 | |
| Business Status | Out of Business | |
| Website | Visit Website | |
| Headquarters | New York, United States | |
| Lifetime Sales | $0M *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
Business Pitch Episode Recap
Todd and David showcased their skills, with David even performing a knife-throwing demonstration near Daymond John. Their plan involves opening a live show entertainment venue attraction spanning 2,500 square feet in New York City’s Times Square, with a total estimated cost of $1.5 million.
Apart from that, Todd mentioned that the annual expenses would amount to $7.4 million. He stated that the admission cost per person would be $15, with an estimated gross revenue of $9.4 million in the first year.
Kevin O’Leary expressed skepticism about the potential for growth in this business and decided to opt-out.
Robert Herjavec said he was uncertain whether the business model would work and pointed out the significant risks involved. Therefore, he decided not to invest in it.
Kevin Harrington stated that he wasn’t willing to take on the risk of investing in this business, so he is out. Barbara Corcoran and Daymond John also declined to provide funding for this business due to its high risk.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Kevin Harrington | No Offer |
| Kevin O’Leary | No Offer |
| Robert Herjavec | No Offer |
| Barbara Corcoran | No Offer |
| Daymond John | No Offer |
| Founder’s (Countered) | No Counter |
| Final Deals | No Deals |
FunHouse Shark Tank Update
Todd and David had to leave Shark Tank without securing an investment, and due to a lack of capital, they had to abandon working on their idea. This means that the FunHouse idea never materialized into a business.
Research on the FunHouse Shark Tank update indicates that the business never actually launched. Todd and David returned to their previous jobs instead.
Do you want to know the progress report of more businesses from Season 1? We have shared links to many businesses below.
