What Happened to VPcabs After Shark Tank?
What is VPcabs?
VPcabs is a pinball game simulator that lets you play old-school games. Unlike other gaming systems, VPcabs is neither an arcade nor computer, but rather resembles the popular ‘Big Buck Hunter’ devices.
The Virtual Pinball machine by VPcabs takes pleasure in being able to play many pinball games on a single device. Pinball games are created using retrofitted machines in a variety of forms.
The Vertigo, The Wizard, and The Classic are among the most notable. The game is built of plywood, graphics cards, and monitors.
Brad Baker of Cincinnati, Ohio founded VPcabs. Baker has worked for himself for most of his adult life. Creating VPcabs was a logical progression in this quest.
Brad was given the opportunity to exhibit his leadership skills at the firm, which resulted in the growth of the business. He still serves as the CEO of VPcabs.
Who is the creator of VPcabs?
Brad Baker of Cincinnati, Ohio started VPcabs. Baker has worked for himself for most of his adult life. The development of VPcabs was a natural continuation of this search.
Brad was given the opportunity to exhibit his leadership skills at the firm, which resulted in the growth of the business. He still serves as the CEO of VPcabs.
Baker’s sibling accidentally pushed him into entrepreneurship. Baker was hired by the arcade owner’s brother to put virtual games in an old pinball machine.
Baker successfully installed the game and obtained numerous further orders from nearby business owners. He was forced to relocate since he was unable to fulfill all of the orders from his garage.
Baker established the company when his brother, who owns a number of arcades in the Cincinnati area, asked him about constructing a virtual pinball machine for him.
Baker rapidly became so popular with clients that he was obliged to relocate his business from his garage to a dedicated manufacturing facility in Fairfield, Ohio.
VPcabs are cabinets that look like antique pinball machines but use high-definition LED screens to electrically replicate a pinball game.
The main advantage is that each machine can store over 200 games, ranging from new releases to recreations of classic pinball machines. Maintenance is practically non-existent due to the lack of moving parts.
Prices vary between $3495 and $7995. They sell their items through a network of about 20 dealers spread throughout 12 states. Game Informer voted the company’s Christmas game the best in its 2014 Holiday Buyers Guide.
What Happened to VPcabs during their Shark Tank pitch?
Baker may be seeking for help from a Shark in extending market penetration and ramping up production.
Brad entered the Shark Tank seeking of $200,000 investment in exchange for a 10% ownership in his business, which valued at $2 million.
The Sharks are ready to participate in the VPcabs games. They all came up to play the games. Mark Cuban struggles with self-control. The Sharks have been taken in.
Sales are something that Robert Herjavec is interested in. Brad says that the company began by selling eight gadgets after building a prototype. Because of these eight gadgets, Brad was able to prevent foreclosure.
Over the next eighteen months, he was able to sell 200 units, making $750,000 in sales. The gadgets cost between $3,000 to $9,500.
His most popular model costs $8,000 USD. His profit margin is around 50%, yet he was not profitable. He made a net profit of $12,000 from his business.
Robert Herjavec was doubtful that anything more than “old individuals like me who adore pinball” can find a market.
Lori Greiner agreed. She believes it was a one-of-a-kind notion that cannot be replicated. She has left.
According to Robert, he does not “share the goal” for obtaining access to Chuck E. Cheese and other key platforms. He has left. Brad’s lack of control of the software that runs his games was a source of contention for Mark Cuban. He exits because he feels he does not add enough innovation to gaming.
There are only two people who can help: Daymond John and Kevin O’Leary. Daymond was open and welcoming. He runs a company called Craigs, which might manufacture the equipment while Brad handles marketing.
Daymond makes him an offer of $200,000 in return for 30% ownership of the company. Brad responds by asking Daymond to consider 20% equity shares.
Daymond thinks for a moment before responding with a demand for 25% stock shares. Brad accepts quickly and departs the Tank with a Shark deal.
What Happened to VPcabs After Shark Tank?
Brad erupts in jubilation as the deal with Daymond John was finalized. Since debuting on Shark Tank, Brad has pursued his goal of expanding to more trade shows and Comic Cons around the country.
He made an excellent decision by collaborating with Wizard World Comic Con and the Michael J Fox Foundation for Parkinson’s Research to create and auction off a personalized Back to the Future game.
Several members of the cast autographed the machine. Although 51 bids raised the final price to $7,500, VP Cabs’ marketing and visibility were important. Daymond John faked his way to the top of Shark Tank with this investment.
Daymond considers this business to be one of the top five transactions he completed on the show in June 2017. Sales exceeded $1 million in the first year following Shark Tank.
Brad also sells a “Better Desk” on the company’s website. The company’s yearly revenue is estimated to reach between $3 and $5 million in 2021.
VPcabs’s Net Worth
During the pitch, the firm was valued at $2 million; after Daymond John invested, the company was valued at $800,000. Since the company’s sales have been successful. The company’s net worth is estimated to be $2 million.
VPcabs FAQs
What is VPcabs?
VPcabs is a start-up company that makes arcade cabinets that look like the old pinball machines but use LED monitors and digital technology to electrically replicate a pinball game.
What is their business model?
VPcabs’ business model is a direct sale. It has 200+ units across 12 states in the US, with about 20 dealers. The company makes $750,000 in sales for its first year.
How does VPcabs work?
VPcabs work by making and selling a pinball machine that looks like a classic pinball game but comes in an actual arcade cabinet. The cabinet uses LED display and digital technology to electrically replicate a pinball game.
What is the best thing about VPcabs?
VPcabs’ best thing is that they can play without the maintenance problems of a real pinball machine with their cabinets. Moreover, it is possible to store hundreds of games on every machine.
What is VPcabs made of?
VPcabs’ is made of wood and metal with a glass top.
How much does VPcabs cost?
VPcabs’ costs between $3495 and $7995. They also offer financing of 3 to 60 months at 0% interest.
What is the purpose of VPcabs?
VPcabs’ purpose is to recreate the experience of old-time pinball machines but with digital technology.
How long did it take VPcabs to build their cabinets?
It took VPcabs about 10 weeks to build their first model. It took them 4 months for their first 200 units.
What is VPcabs return policy?
VPcabs’ return policy is limited. If customers are not satisfied, they can return the pins for a refund. They need to bring the pins back to be inspected.
Where can I find VPcabs?
VPcabs can be found at conventions and on their website.
What does VPcabs sell?
VPcabs sells two different systems: one for kids and another for adults. The adult system comes in a functional version with real glass cups instead of plastic ones and with authentic 1980s artwork.
How long does VPcabs last?
VPcabs lasts a long time. It’s easy to tune in and is easy to maintain.
Where can I find more information on VPcabs?
VPcabs can be found on their website and at multiple conventions. They are selling in 12 states across the US, with about 20 dealers that come from universities, high schools, and special events such as Comic Con and Wizard World’s con.
What is VPcabs’s warranty?
VPcabs offers a one year warranty on their products. If they discover any defects during this period, they will provide a replacement or will fix it according to their standards.
How do I make payment to VPcabs?
Customer can make a payment via credit card at either PayPal or by buying an outstanding balance.
