What Happened to Validated App After Shark Tank?
What is Validated App?
Validated is an app that allows companies to repay consumers for a portion of their transportation or parking fees as long as they meet the retailer’s minimum spending requirements.
Validated allows businesses and employers to compensate employees who travel to their sites for transportation costs.
To provide such incentives, Validated works with public transit providers and new mobility services such as ride-hailing apps and rentable, free-floating bikes, scooters, and cars.
Several programs now reward users for their support of businesses by providing cashback or gift cards in exchange for watching adverts, checking into certain venues, or submitting receipts.
Who is the founder of the Validated App?
Alex Wilhelm, Ian Lyman, and Tov Arneson established Validated App. Alex Wilhelm, co-founder and chief technology officer, Alanna Beckman, director of marketing, and Ian Lyman, co-founder and chief product officer, are among those involved. Before pivoting, Tov Arneson and Ian Lyman spent two years developing an app for on-demand parking.
Consumers want to save money on parking and transportation, while merchants seek to increase customer loyalty and sales.
Validated started off as a parking app, but the developers pivotalized when it became clear that others would dominate the space.
It is quite simple to use. Begin by locating participating stores, meeting spending goals at those businesses, scanning receipts to verify purchases, and then using collected credits to pay for transportation services offered by participating transportation providers.
Users are entirely free to utilize it. The cost is borne by merchants who “participate in the transportation environment.”
What Happened to Validated App at Shark Tank pitch?
Ian Lyman, Tov Arneson, and Alex Wilhelm are hoping that Shark Tank episode 823 would validate Validated, software that allows users to accumulate parking and transportation points. They are searching for a Shark to offer financing to assist them in rapidly expanding.
Ian, Tov, and Alex appeared on Shark Tank in seeking of $250,000 in return for an 8% stake in their firm, worth $3.1 million.
They begin by introducing their company before speaking with the Sharks. Lori liked the idea since it attracted people into brick-and-mortar stores.
Barbara is interested how much money she needs to pay to get the merchant’s free parking.
Chris questions about the sales. In two cities, Seattle and Portland, they have 50 merchants. Each seller obtains 25 validations on average.
Mark was fascinated by the technological details of how retailers identify QR codes. The Sharks began to voice their displeasure.
Chris thinks it’s extremely complicated. Mark agrees, and he was the first Shark to exits. Barbara finds no reason to stay and exits.
Kevin interjects, declaring that they were swiftly reaching zero; he went out and labeled the company a dog. Lori quits because she doesn’t see many people using it.
Chris was the final Shark to exits, claiming that the issue was too complicated. Finally, they departed the pitch without striking a deal.
What Happened to Validated App After Shark Tank?
Validated App was bought by Portland-based moovel for an undisclosed price in June 2019, just over two years after debuting on Shark Tank. The company is collaborating with BMW’s car-sharing service ReachNow as part of a rebranded “Reach Now” branch of the new joint venture.
Competitors of Validated App
Validated App’s primary competitors were SpotAngels, ParkMe, and ParkWhiz.
Net Worth of Validated App
During and after the pitch, the firm was valued at $3.1 million. The firm went out of business in June 2019; hence the net worth is unavailable.
Validated App FAQs
What is Validated App?
Validated App is a mobile application that allows companies to refund consumers for a percentage of their transportation or parking fees as long as they meet the retailer’s minimum spending requirements.
Who is the founder?
Alex Wilhelm, Ian Lyman, and Tov Arneson established Validated App.
How much did they ask for on Shark Tank?
They were asking for $250,000 for an 8 percent stake in their firm, which was worth $3.1 million.
What Happened to Validated App after Shark Tank?
They were unable to secure an investment from any of the Sharks after pitching their concept on Shark Tank episode 823.
When did Validated App make its debut on Shark Tank?
On October 9th, 2018, near the middle of the program, Validated App debuted on Shark Tank Season 823.
Is Validated App still in operation?
Yes, the company is still in operation, but it was purchased by Portland-based moovel, which is collaborating with BMW’s car-sharing program ReachNow as part of a rebranded “Reach Now” branch of the new joint venture.
What is Validated App’s net worth?
Validated App’s net worth is unknown.
How do I utilize the Validated App?
Utilize the app to find participating retailers, satisfy spending goals at those stores, scan receipts to verify purchases, and then use collected credits to pay for transportation services supplied by partner transportation companies.
Users are entirely free to utilize it. The cost is borne by merchants who “participate in the transportation environment.”
Was Validated App a scam?
No. Validated App is completely legitimate and legit.
Who was the CEO of Validated App?
Alex Wilhelm was the CEO of Validated App.
Was Validated App a publicly traded company?
Yes, it was made available on the website http://www.validated.com/.
Is the Validated App available for the iPhone?
No, it is not compatible with iPhones. IOS users may get the app by visiting www.validatedparkingapp.com/download/ios/.
How does Validated App function?
Connect the phone to their preferred mode of transportation, and Validated will keep track of their purchases and set up credits for them.
Is it necessary to install Validated App in order to use it?
Yes, the user must download and install this app on their phone.
How can I obtain a Validated App?
It is available for download through the Google Play Store.
Was Validated App successful?
The app was not for sale or download at the time. There is no link to Validated App on the Play Store.
What did you think of Validated App’s business model?
Validated App’s business concept was to strike partnerships with merchants, who would then grant you money back on specific products as long as you spent a certain amount of money at their locations.
Who is eligible to use the Validated App?
Anyone who shops at locations linked to the app and meets the minimum transaction requirements can utilize this.
How does the Validated App operate on the iPhone?
For iPhone users, there is no app available.
How do you validate an application’s features?
Communicate with your target audience. Contacting their app’s target users might be the first step in promoting their app to the rest of the globe.
Investigate the stores, Perform keyword research Make a landing page for their marketing effort. Distribute a basic version of the software to evaluate websites and determine the size of their target market.
What was the purpose of validation?
Validation, as a general action, is used to assess the consistency of any activity’s output with its inputs. It is used to provide proof and information that the input transformation resulted in the desired and proper output.
How can I validate my application?
Perform a market study. The first step entails determining the target audience, developing a Minimum Viable Product, and testing the concept. Analyze the App Store charts to estimate the size of your target market and the app’s product-market fit.
How do you know whether an application is successful?
Determine the problem and the intended audience. In the end, the most successful applications are those that address a specific need for a small subset of the population. They want to focus on a small but increasing market.
