Why Billionaire Mark Cuban Invests in Virtuix Omni

Why Billionaire Mark Cuban Invests in Virtuix Omni

The Shark Tank Lord Mark Cuban shunned Virtuix Omni when it was featured in Shark Tank (ABC Network).

However, Cuban joined countless others who have already invested in Virtuix Omni, raising more funds for the VR Treadmill’s development and marketing.

Virtuix Omni Too Reliant on Oculus Rift:

When Virtuix Omni appeared on Shark Tank, Mark Cuban informed Jan Goetgeluk (Virtuix Omni’s CEO) he thought the product was too heavily reliant in Facebook’s Oculus Rift in order to work. However, the billionaire turned around and later invested in the product.

The truth is we know why this happened – at the time of the show Oculus wasn’t a Facebook product yet, and with the Social Media giant behind the device, Cuban’s Radical Investments now considers the investment a sound choice to add to the firm’s portfolio in the VR niche.

Virtuix Omni, the VR treadmill, is designed to be a mainstream affordable commercial version of a product that isn’t available to everyone.

Some of the names involved in the seed funding for the device ($3 million dollars) are Tekton Ventures, Scetan Ventures, Maveron, Scout Ventures, StartCaps Ventures, Private investors and Cuban’s Radical Investments.

Most of the investment was made by Maveron and Tekton, according to Virtuix’s staff.

So far, over 3500 units have been sold.

 

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