The Rolodoc app was made to improve communication in the medical field. Rolodoc was a social media network created for doctors and their patients. However, Albert and Richard Amini didn’t do a great job pitching their business on Shark Tank. As a result, the doctors weren’t able to get a deal. As of 2023, Rolodoc is worth $0 and the company was shut down after the show.
About the Founders
Registered physicians Albert and Richard Amini are brothers from Granada, Spain. They are currently based in Arizona, United States. As kids, they lived in different states, including California, Florida, and Illinois.
Albert earned his bachelor’s degree at the University of Chicago and his medical degree at Northwestern University Feinberg School of Medicine. After completing his residency and mastering his specialty, he founded Arizona Premier Surgery.
Richard attended Loyola University’s Stritch School of Medicine for his undergraduate and medical education. When he became a professional, Richard was hired as a professor and assistant dean at the University of Arizona.
The Amini brothers were inspired to change the traditional way that medical professionals communicate with patients. They wanted to change how doctors sent emergency messages through pagers.
Moreover, the physicians wanted to provide a way for patients to choose their doctors and share their medical information securely. The brothers created Rolodoc, essentially a Linkedin for the medical community.
However, before appearing on reality television not much information was available online about the business as it was an early stage startup. These types of companies don’t get accepted onto Shark Tank nowadays.
Shark Tank Appearance
In 2013, Albert and Richard Amini planned to get serious with Rolodoc and finally make their mark. They appeared on season five of Shark Tank, seeking $50,000 for a 20% equity stake.
The pitch started off well with a lighthearted nature but things turned sour quite quickly. Mark Cuban in particular was getting frustrated as the founders were just using buzzwords and didn’t seem to have a business plan. The getting repeating the phrase “social media” which annoyed the Sharks.
The brothers didn’t have anything substantial to back up their claims. Cuban went up to shake their hands and tell them it was the “worst ever pitch” on Shark Tank. The business idea was poorly executed but this was incredibly rude by Cuban. Bizarrely, Kevin O’Leary was much calmer about the situation. All the Sharks soon dropped out.
After Shark Tank
It’s safe to say the pitch didn’t go as planned and the founders closed down Rolodoc shortly after Shark Tank. The guys came in with very little preparation and the business had no clear direction. They also didn’t explain how it would replace pagers.
Even if Albert and Richard gave a better presentation with more substance, the amount of regulations around privacy and security would be too challenging to overcome. Not surprisingly, the founders went back to their day jobs.
Richard continued his work as a professor at the UA College of Medicine, specializing in emergency medicine. Albert, on the other hand, is working at the Medical College of Wisconsin Froedtert Hospital as a clinical instructor.