Arrocho, a entrepreneur, is pitching his company to a group of investors (Sharks) in a business reality TV show. He claims his company connects independent game developers with investors, and has been growing steadily over the past four years. Arrocho is seeking a $1 million investment in exchange for 10% of his company. He emphasizes the massive size of the gaming market ($100 billion in annual revenue), but notes that most of it is controlled by just 25 large companies, leaving little room for independent developers.
The Sharks express interest, but are hesitant due to the company's lack of revenue and high valuation. Arrocho explains that his focus has been on growing the user base, rather than generating revenue. He also notes that his company has been successful in helping independent developers get their games noticed.
After some negotiation, the Sharks propose a counter-offer: 25% equity in exchange for $1 million. Arrocho is hesitant, but ultimately accepts the offer.
Here are the key facts extracted from the text:
1. The gaming market earned more than $100 billion last year.
2. 80% of gaming revenue comes from just 25 companies.
3. There are thousands of game developers worldwide.
4. The company offered 10% of its shares for $1.
5. The company had 12 projects in 2016, 60 in 2017, 80 in 2018, and 190 in 2019.
6. The company received 400 project submissions this year.
7. The top 2 projects from each of 60 cities will go through a 7-month process with the company.
8. The company partners with game distributors in Japan, France, the US, Brazil, and other countries.
9. The company organizes hackathons to find new projects.
10. The company's focus is on growing its base and connecting independent developers with the market.
11. The company has not had a profitable project yet.
12. The company is looking for investment to grow its business.
13. One investor offered $50,000 in exchange for a share of the company.
14. The company's goal is to bring more investors to the gaming market.
15. The company wants to create a network of contacts and provide access to sponsorship and incentives for game developers.
16. The company's long-term goal is to become the largest game producer in the world without producing games itself.