Season 4, Episode 2
People: Neal Desai
Original Offer to the Sharks: $50,000 for 5% stake
One of the most intriguing pitches in recent memory, the Cate App (stands for “call and text eraser”) is designed to help cheaters cheat on their significant others. It boasts a variety of features and is currently available on the Android platform (iPhone and BlackBerry versions coming soon, according to the website). The app does exactly what the title states — it erases calls and texts. The app itself is hidden on a mobile device, too. Instead of a normal app icon, you punch in a code to open it. Pretty slick, and it’s getting good reviews after being released on the Android Market back in June.
Cate App was created by a police officer named Phillip Immler, who is also in law school. He created Cate because of a friend who went through a nasty divorce because his wife “was finding things” on his phone. This begs the question…what if his friend’s wife had found the Cate App instead? Also as a police officer, Mr. Immler believes his app can help to reduce the number of domestic violence situations that originate from evidence of cheating found on a mobile phone.
In an interview earlier this summer Mr. Immler insists “I don’t condone cheating, no.” This sentiment might be a tough sell to the Sharks, who no doubt are interested in technology-based businesses. However, this looks like a clear conflict of interest for many investors.
So will the Sharks “cheat” on their other businesses by investing in this product — stay tuned!
Spoiler Alert – Below Video
Did Cate App make a deal on Shark Tank? YES
The Deal: $70,000 for 35% Stake