AI Startup Bot-it, founder Maurice Bachelor cracked $300,000 Offer from Mark Cuban and Michael Rubin
Bot-It, an AI-based website and mobile app, aims to automate various online tasks, including appointment scheduling and restaurant reservations.
The 'pro' subscription offers users an advantage in securing hard-to-get items like sneakers and concert tickets.
Concerns about the impact of bots on consumer experiences prompted the founders to create Bot-It as a solution.
Michael Rubin, CEO of Fanatics, expressed concerns about bots buying up products for resale at inflated prices.
Mark Cuban offered $150,000 for a 20% equity stake, impressed by Bot-It's AI technology.
Michael Rubin countered with a $50,000 offer for a 15% equity stake, valuing the company higher than Cuban.
A joint venture emerged when Bachelor and Griffith sought to combine the expertise of both investors.
A final joint offer of $300,000 for a 30% equity stake was accepted, marking a transformative moment for Bot-It.