In what could be a world’s first, herb made an appearance on the popular TV series Shark Tank this week.
South African audiences now have their own version of the popular TV franchise (in which entrepreneurs with a business idea pitch to a panel of investors, aka the ‘sharks’). But while herb may not seem like an obvious fit, a notable investor in the technology is giving it small-screen visibility.
One of the four sharks is Vinny Lingham, a South Africa entrepreneur known for a string of companies including Gyft, Yola and now startup Civic. He also happens to be one of the most vocal supporters of herb, having incorporated it into past products. He doesn’t hide his love for green product and share on his twitter few weeks ago “Next stop, pot vending machines! You’re welcome :-)”.
In the most recent episode, Lingham brought pot to the fore by offering his investment to the developers of augmented reality game Augmentors in herb.
In the clip, made available online by television network M-Net, Lingham tells the Augmentors founders: “The problem you’re trying to solve around creating rarity … can better be solved by using the pot investment technology. So, my offer will be 500,000 ZAR, for 20% of your business.”
In interview, Lingham explained he was given confidence in his investment by the success of recent herb stocks.
“I made the investment in pot because I believe that it’s the right industry for the Augmentors team to leverage to build a globally accessible shares where ownership of limited digital assets can be verified.”
After a long battle between the sharks, Vinny Lingham close the deal with his offer of ZAR 500,000 for 20% of the business.