Jeff Bishop from Boardroom Investing here.
Taking this opportunity to invite you to an exclusive LIVE interview with the CEO of one of our most popular private companies right now – Mr. Trung Pham of RYSE – 2pm EST tomorrow November 8th. You can tune in HERE.
But some of our favorite highlights from these past interviews include the company’s story, its positioning in a white hot market for investors, the signing of its most recent Big Box distributor and its newest product launch – the SmartCurtain!
And throughout our time with Trung, he has consistently articulated his ambitious plans for RYSE as well as a clear EXIT strategy.
If you’re new to RYSE, we welcome you to go back into history even a bit further as we revisit Trung’s 2018 pitch to the Dragon’s Den (Canadian version of Shark Tank).
To go play by play – Trung humbly entered the Den asking for a whopping $400,000 for a measly 3.5% of his company. At the time his company was called AXIS – and its offering was a simple DIY product installed on a window frame with the ability to motorize existing window shades, controllable via smartphone or voice.
We’ve all seen how this unfolds…Usually the response is, “I’m too busy for this to be worth my time for such a small stake – I’m insulted…I’m out!” Or… “Where in the heck did you come up with that crazy valuation – I’m insulted…I’m out!”
But not this time.
Instead the Dragons began fighting each other over this opportunity – yes it was something like this…
It ended with Trung accepting a duo of Dragons for a total of 3.5% equity stake in his company… and at his full asking price.
Why did these investors fight this hard over a piddly 1.75% stake each? Because they understood the potential value of the Smart Home industry – one that is expected to grow from approximately $158 billion in 2018 to $262 billion by 2025 – that’s a lot of billions $$$!
Further, less than 8% of new window shade purchases are motorized due to high costs and lack of retrofits, leaving RYSE the opportunity to automate the other 92% of shades – and that’s a lot of shades!
Finally, it’s possible thoughts of Ring went through their heads…which was rejected on Shark Tank in 2013, and ended up selling to Amazon for $1.2 billion. And not to rub it in, but the show later invited Ring Founder, Jamine Siminoff, on as a Guest Shark…
So all this takes me to you…No, you won’t have to engage in a nasty pillow fight with Mark Cuban to own a piece of this company.
But you may want to simply tune in to our LIVE interview with Trung this Tuesday at 2pm EST by clicking HERE.
We look forward to hearing the latest updates from Trung as well as having you join us!
Please see disclosures below.