They suggested that once a patient selected a doctor of their choice based on their specialty and vicinity, they would upload their medical records. But the worst part is, if you watched the episode, you can’t blame Cuban. This is a lesson in how not to pitch your business to investors.
The brothers created maynard guide fall new, essentially a Linkedin for the medical community. The Amini brothers could not convince the sharks that their idea was something unique to the various social media platforms already existing in the market. According to Mark Cuban, RoloDoc’s pitch was the worst one in the entire history of Shark Tank.
So, they developed RoloDoc with the help of some software experts. Before the start of this season, Mark Cuban insisted that the production company relinquish its equity clause with respect to featured businesses who choose to do a deal with the sharks. The change applied to all businesses, both from that point on and retroactively. Albert says that targeted advertising would be what sets apart Rolodoc, and Mark says that there is no possibility for a secure environment since the Amini brothers do not have an answer for security. Albert says that there are already physician-to-physician networks in place, but these have a whole different level of security standards than communicating from physician-to-patient.
Lori says that she sees Rolodoc as a liability nightmare, and there is a lot of risk in the communication, and is the first Shark to fold out of the deal. Mark gets up and walks over to the doctors, saying that he wants to do this eye-to-eye, face-to-face because they are doctors; he shakes each man’s hand, and says that it was the worst presentation ever. Rolodoc, which is meant to be a secure social media platform that allows physicians to upload and display their medical records. The platform would also act as a communication tool between doctors, patients, and other medical professionals.
Albert Amini and Richard Amini introduce their “social media app for physicians” in Shark Tank episode 505, the season 5 premier. The RoloDoc website says they are creating a directory of physicians for patients to help foster an exchange of ideas. The two Arizona-based brothers and doctors created the app to make communicating with doctors “more enjoyable and effective.” There isn’t much information on this business.
Unfortunately, it appears that Rolodoc fell victim to the unsure nature of their appearance on Shark Tank, and has folded over completely and will no longer be an existing business entity. Robert fails to see how monetization is possible, and quickly exits as well. Kevin says that he liked the idea but finds it depressing, but at the end of the day, he cannot figure out how he is going to make money, and exits the deal as well. Albert and Richard Amini are two brothers and are actually a physician duo, and their company is Rolodoc. They are on Shark Tank, looking for $50,000 in exchange for 20% of their company. No one was convinced about the app, and they all agreed that the app may have been good but they pitched terribly, and that was the end for them.
RoloDoc was a phone application created by two physician brothers, Albert and Richard Amini. The idea was to connect all healthcare workers with patients and each other through social media to streamline the process of communication. Despite mentioning that it is a social media application, the inventors of the app were unable to answer how they would use social media on their platform. Their idea had no clarity and no incentive for investors to provide the funds and be a part of the company.