Sometimes, gifts can be tricky. Finding something that is personal and meaningful is tough. That’s the driving force behind Songlorious, a company that offers custom songs for every occasion. Founders Ellen Hodges and Omayya Atout appeared on Shark Tank Season 13 Episode 2 to pitch their big idea to the sharks, but how big can it be? Find out in our Songlorious update.
Shark Tank Songlorious Update
- Entrepreneur: Ellen Hodges & Omayya Atout
- Business: Personalized songs for any occasion
- Ask: $400,000 for 10% equity
- Result: $500,000 for 40% equity
- Shark: Mark Cuban, Kevin O’Leary, Daymond John, and Peter Jones
Ellen Hodges and Omayya Atout saw an opportunity to use their love of music to make people happy. Some gifts can be impersonal, cold, and not very meaningful. So what’s the alternative? These musicians started with a custom wedding song, and it sparked the idea to create custom songs for all occasions.
Songlorious is a custom song company. You choose a genre for your song, tell your story, and one of the performers writes and performs a song made just for you. Prices range from $45 for an acoustic 30-second song, all the way up to $200+ for a fully-produced three-minute song. The songs can be about anything, and it’s completely up to the performer to provide instrumentation, vocals, and song lyrics for the customers.
Performers are paid 35% to 55% of the total cost, plus any tips that they earn (the average tip is $51).
Songlorious has had some success already. In their first year, they made $700,000. At the time of filming Shark Tank Season 13 Episode 2 in 2021, they’ve already made $1.1 million from their custom songs. Though other companies do this, none do it quite like Songlorious. They had a full team creating entirely custom songs for each order.
Ellen and Omayya want to use the investment to expand marketing and bring more customers and musicians to their team. They aren’t businesspeople, so they’re coming to Shark Tank to get help with that side of their operation.
Guest Shark Peter Jones invested in a similar company in the UK, and he understands what it takes to get the business off the ground. He’s had success blowing this type of ‘experience’ business up and making a lot of money.
Mark Cuban, on the other hand, believes that the future of the company rests in replicated voices. He owns a company that does just this, but he doesn’t get to complete his thought before Peter Jones jumps in with an offer. Due to his experience, he isn’t beating around the bush: he offers $400,000 for 33% equity. He wants to expand to the global market.
Daymond John jumps in with an offer of his own. He offers the same $400,000 but for 20% stake in the company. Kevin O’Leary quickly jumps in with a combined offer. He and Mark will go in together at $400,000 for 25% of the company, and the entrepreneurs get two sharks. Kevin is in the wedding industry and Mark’s AI voices idea might blend with this beautifully.
Mark proposes that Peter go in with them, raising the equity to 33%. Kevin can handle the wedding business, Peter can handle international, and Mark can deal with the technical side. But Daymond wants in too, and he cites that he knows a lot of people in the music industry and can promote it on social media.
They agree, which means that Kevin, Mark, Peter, and Daymond want in for 40% equity in the company, and they’ve raised the investment to $500,000. This allows the entrepreneurs to stay creative while the sharks handle all of the marketing and other aspects of the business.
Ellen and Omayya counteroffer with up to $800,000 for 40%, but Peter Jones thinks this is too greedy. Instead, they choose to accept the offer: $500,000 for 40% equity, meaning each of the sharks gets 10% of the company. But where is the company now? Find out in our Songlorious update.
Songlorious has been featured on the Today Show, Good Day LA, and more – even before appearing on Shark Tank. The website is still open and going strong. Prices have been lowered and the company has more artists than ever. They’ve performed over 11,000 custom songs so far and there are pages and pages of positive reviews.
While researching our Songlorious update, we were unable to see if the four sharks that bit at this deal were able to pull together and blow the company up. However, it’s still early. Perhaps we’ll see more results from this investment in the coming months!
Before you go, be sure to check out updates from the other companies featured on Shark Tank Season 13 Episode 2:
For more on Shark Tank Season 13, be sure to check out our Season 13 products page.