CoinOut: a platform for merchants and retailers designed to assist customers in transferring their spare change into a digital wallet. Witten sought $250,000 for a 7.5% equity share in his venture, valuing the company at $3.3 million; he effectively defended his position against the Sharks, even rejecting Kevin O’Leary’s proposal due to his comments during the pitch.
Calm and collected, Witten did agree to Robert Herjavec’s proposal, although it never materialized. Regardless of this hurdle, CoinOut has achieved notable success and has significantly transformed since appearing on the program. Initially, the app allowed users to digitally accumulate their loose change, but it has since progressed to offering rewards for scanning retail receipts. The company has successfully secured $2 million in investments, and Witten is no longer leading the charge.
While it bears little resemblance to the initial concept presented on “Shark Tank,” its development has enabled it to grow into a favored app with positive feedback online. Even though the company undergoes changes more frequently than microplastics infiltrating your mind, sustaining a robust and successful online presence for nearly a decade is a formidable achievement.
