Brisbane uni students snap $500,000 from Shark Tank for retro digital camera

When CDs launched, it seemed like the end for vinyl records.

But vinyl made a comeback and now it feels like using an old-school camera is set to follow in its footsteps if this week’s episode of Shark Tank is a sign.

Brisbane university students Kelric Mullen and Mackenzie Salisbury were among the founders on the Channel Ten investment series this week, pitching their product, the Flashback ONE35 Camera, on Shark Tank Australia sharks, receiving a $500,000 bite that values the business at $5 million.

The duo have built a digital camera that delivers film-era nostalgia, with a winder, viewfinder, and retro bright flash, while the Flashback ONE35 still connects to an app for easy photo transfer.

Fashback clicked with the Shark Tank judges

Mullen is a mechatronic engineering and chemistry student at the University of Queensland, while Salisbury studies business and film at Queensland University of Technology. They met while living at Cromwell College in Brisbane.

The Flashback camera launch in May 2023 having raised $800,000 from a KickStarter. By this month they’d hit $3 million in total revenue, predicting it will reach $15 million in the next 12 months.

For those old enough to remember 35mm film, the $150 camera has the look and feel of a disposable camera (you used to take the whole thing to a photo store for processing), back in the days when Kodak, Fuji and even Hanimex were giants of photography.

The sharks looked snappy, with Oodie founder David Fogarty declaring the ONE35 “the biggest gifting product I have seen”, adding that they’re “going to be millionaires from this.”

The pair were seeking $500,000 for 7% stake in Flashback and Maxine Horne, founder of multi-channel retailing company, Vita Group, took the bait, initially offering $500,000 for 20%,

“I do have a soft spot for you, so I am going to give you an offer… what a perfect thing to have a retro shark invest in your retro product,” she said.

They hammered out a subsequent deal for a 10% stake for $500,000, in a post-pitch interview.

There was also a serendipity in the deal for Mullen, given Horne’s involvement in the UQ Ventures ilab Accelerator Program.

“I am very excited to be working with Maxine. Especially her history with the University of Queensland who we have worked with in the past, she just seems like the perfect person for us to work with,” he said.

“Mack and I have always been driven from the get-go. We have both dived headfirst into this. The big difference now is we’ve got some experience on our side – we’ve got some mentorship on our side.”

His admiration extends to his cofounder, Salisbury, who “is the genius. He is the man that makes things into reality. My thing is ideas and creativity”.

His gratitude also extends to his high school business teacher Jessie-Lee Croghan at Trinity Anglican School in Cairns, who for introducing him to Shark Tank.

Mulen phoned her this week to share the news, saying: “I made it on Shark Tank, Miss”.

Ms Croghan replied: “If anyone was going to make it to Shark Tank, it would be Kelric Mullen!”