What Happened to Games2U after Shark Tank Pitch?

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What is Games2U?

Games2U is a mobile entertainment company that will bring a truck full of fun to your child’s birthday party, workplace event, or charity event.

The company primarily serves the birthday party market, bringing mobile Video Game Theatres, 4D Ride Experiences, Giant Hamster Balls, and Laser Tag to your location via a large trailer or truck.

Think of it as a mobile arcade. They’re famous for its gigantic “Ubot,” a robot you can crawl inside and “manage.”

Games2U provides a full party experience for both children and the elderly.

This company offers approximately 20 different games or activities for both children and adults.

Who is the Inventor of Games2U?

Stuart and David Pikoff, brothers who founded Games2U in 2006, are the company’s founders. Stuart, a University of Arizona graduate, formerly worked in the real estate sector as a director.

He will continue to lead Games2U as CEO. David received his bachelor’s degree from St Edwards University.

He appears to have a background and interest in real estate development, similar to his brother. He also continues to serve on the corporation’s board of directors.

While preparing a children’s birthday party, the brothers realized that, while times have changed since they were children, the process of planning a party has not.

Parents used to prepare for clowns and magicians, perhaps even a petting zoo, but nowadays, children are more interested in computer games and other outside activities.

However, hiring a venue with these activities might be costly for a parent, so they identified a need and decided to create a firm that brings everything to the comfort of your own lawn.

Starting with a single truck, the intention was always to offer it as a franchisee business.

What Happened to Games2U During Shark Tank Pitch?

Pikoff, Stuart, and David Pikoff appeared on Shark Tank season 2 episode 7 looking for $500,000 for a 10% ownership in Game2U. This corresponds to a $5 million valuation.

Stuart informed Kevin that their sales were exceptional. He added that the business earned around $3.5 million last year (2010) and that it was on track to earn close to $5 million this year.

As of the air date, they have sold 140 franchises in 28 different states. To obtain a license, a potential franchisee would need to put down roughly $150,000 in cash.

They’d then be given their own automobile, as well as a slew of officially branded gear. Following then, everything was in the hands of the franchisee. Games2U, on the other hand, charged a monthly royalty of 6% with a $1,000 minimum.

The company made close to $125,000 in profit on little more than $3 million in sales the previous year.

Kevin was annoyed by the low profit margin, and he seemed outraged by the $5 million valuation at this point.

Daymond, apparently irritated by the company’s avaricious appraisal, elected to withdraw from contention.

Barbara, who had remained mute for the most of the presentation, walked out because she feared that the R&D necessary to manufacture new things would be too expensive.

Jeff Foxworthy stepped out because the cost of a Games2U party was unacceptably pricey for the average family.

According to Robert, Games2U will be unable to create additional revenue until new goods are developed. He turned and went away.

Kevin, on the other hand, made them an offer. He indicated that he would give them $500,000 in return for 51% ownership of the company.

The offer immediately turned the brothers off, despite their high levels of customer satisfaction and sales.

Stuart and David waited for a moment to consider the tank’s offer. When they returned, they explained that, while they would want to have Kevin’s help in creating their business, they were hesitant to give him a majority stake.

They reacted with a counter-offer of $500,000 for 25% of the company. Kevin almost immediately turned down the offer, claiming that it was just not accessible to him.

As a result, the brothers left the Tank with no money.

What Happened to Games2U Following Shark Tank Pitch?

Games2U has grown to over 150 franchises in the United States, a master franchise in Canada, and franchisees in seven Middle Eastern countries since its appearance on Shark Tank.

Games2U, headquartered in Austin, Texas, is also investigating franchise potential in Australia, South Africa, and Europe.

They were placed 24th on the Entrepreneur Magazine Franchise 500 in 2012.

The firm has $9 million in annual sales and over 140 franchisees as of January 20, 2022.

What is Games2U’s Net Worth?

Pikoff Stuart and David Pikoff approached Shark Tank for $500,000 in exchange for a 10% ownership in Game2U. This corresponds to a $5 million valuation.

The current valuation of the company is clearly higher than one on Shark Tank.

Who are Games2U’s Competitors?

There are no known competitors for Games2U.

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Games2U FAQS

1. What are the main products or services of Games2U?

Games2U Mobile Video Game Theatre, 4D Ride Experiences, Giant Hamster Balls and Laser Tag.

2. Who founded Games2U?

Stuart Pikoff and David Pikoff founded Games2U in 2006.

3. Is Games2U still in business?

The firm is still in operation, with an active website and offices in Austin, Texas.

They are still the number one supplier in this business model, and their games and activities are continually expanding.

4. What is the website of Games2U?

The website of Games2U is www.g2u.com

5. Can they buy Games2U products online?

They cannot purchase anything directly on the website, but they can place an order for a party that will be brought to their doorstep. There are no direct purchases on their website.

6. How much does it cost?

Their rates are determined by a variety of criteria, including the games they choose and the length of their event.

7. Is there an age limit?

No. Games2U has more amazing games than anybody else and can provide activities for people of all ages.

8. Do parents have to supervise?

No. Their Games2U activities are handled by professional Game Coaches who are there to ensure the safety of their players and the success of their event.

9. How much was Stuart Pikoff and David Pikoff asking in the Tank?

They were asking for $500,000 for a 10% ownership in Game2U. This corresponds to a $5 million valuation.

10. How much did they received?

Stuart Pikoff and David Pikoff left the Tank without a Shark deal.

11. What is annual revenue of Games2U?