What is icapsulate? | Biggest deal ever made on Australian Shark Tank and icapsulate net worth 2020
What is icapsulate?
As the CEO of icapsulate, Kane Bodiam claimed during his pitch in the shark tank, Icapsulate was the first biodegradable coffee capsule in the world. But then this statement made him lose an almost closed shark tank agreement because the conflict was then resolved. Court case.
Kane Bodiam’s journey with iCapsulate has been a long one of tit-for-tat statements that obscure the truth and seem to dig the grave for the company a little deeper every time they are uttered.
Net worth icapsulate:
iCapsulate is an Australian biodegradable coffee pod manufacturer. Kane Bodiam, the part-owner of the company went on Shark Tank Australian in 2017 and secured a whopping $2.5 million deal for 22.5% stake from Shark Andrew Banks.
This article explores the origins of the company, the deal gone bad, and now their looming insolvency the company has a net worth of under $100k.
What happens during the Shark Tank pitch?
The CEO of Icapsulate Kane Bodiam established a perfect business proposition for sharks that requested an investment of 2.5 million dollars to exchange 15% of the company. As usual, sharks become surprised by this proposition because it resembles the largest shark tank agreement if it passes. During Pitch Kane Bodiam, he sweetened POD by stating that in just a few months in a business that Icapsulate its business produces around 35 million pods per year. And he also stated that he had a contract with coffee shops and the main vendors throughout Australia & New Zealand. He claimed to have 37.5 million AUD sales at the end of one and a half years. It’s amazing sharks.
Kane was immediately given with two offers to choose from and he chose to go with Andrew Banks sharks. They agreed to a reciprocal agreement of 2.5 million dollars for 22.5% of the company.
What happened to icapsulate after Shark Tank?
Shark tank achievements might make it a name that is easily recognizable. But a Sydney court decided in 2015 that he had made false cases about his work at the previous workplace, crazy coffee capsules.
The bodiam guarantees on the Facebook page and its LinkedIn which he arranged and Ran Crazy coffee capsules. Judge Richard White found this statement cheating behavior.
“Kane Ronald Vasudevan Bodiam was occupied by Deluding and Tricky Lead by distributing messages,” blanket judgment on October 2, 2015.
Mr. Bodiam was asked not to guarantee the case of the espresso delivered by the previous manager dangerous and “limited” from imagining he had driven an organization.
He is also prohibited from sharing crazy coffee cases’ “mystery form”. The organization and both produce containers that can be used by the Nespresso espresso maker.
This incident made Andrew Banks step out from the deal made during the TV Show. Also, he further stated that ‘I wasn’t going to risk that’: to news.com.au
