Shark Tank: Jeff Wittens re-engineered CoinOut's model and turned it into an app

Jeff's business model was initially challenged by the sharks who were unsure about its potential in the market.

Jeff Witten appeared on Shark Tank in 2018, seeking a $250,000 investment for a 7.5% stake in CoinOut, a company that digitized loose change. Despite facing skepticism from the sharks, Jeff received three offers and ultimately shook hands with Robert Herjavec on a deal for $250,000 in exchange for 15% equity.

However, the deal with Robert fell through after the show, and Jeff later remodeled CoinOut into a cash-back rewards app. In 2021, CoinOut was acquired by Information Resources, Inc. (IRI), and the app is still available on Google Play and the App Store.