ARKEG Shark Tank Net Worth
Arkeg is an arcade game with a built-in beer keg. The two entrepreneurs behind Arkeg, Brant Myers and Dan Grimm from San Luis Obispo, California, pitched their business on Shark Tank in January 2013.
They went into the Tank seeking an investment of $100,000 in exchange for 33 percent equity but did not get a deal. Two years after the Shark Tank episode aired, Arkeg went out of business. The entire business was put up for sale for $11,500 which included one complete Arkeg machine and the parts to make eight more.
According to our online research, Arkeg’s net worth before appearing on Shark Tank was $300,000 USD. However, the current net worth of Arkeg is unknown as the business is not in operation since 2015.
And the product is no longer available in the market. The founders’ net worths are also unknown as of 2023. Some companies that appear on Shark Tank have not achieved great success, and Arkeg was one of them. Sometimes businesses don’t succeed because of many reasons.
Sometimes things happen to the founders themselves, and they choose to abandon the business. Anything is possible.
What is ARKEG and Who is the founder of ARKEG?
ARKEG is a vintage video game cabinet that comes pre-loaded with 69 licensed old video games and a functional keg chiller and tap system. It features a brushed aluminum cabinet and a PC-based computing system to provide an authentic video gaming experience.
ARKEG was established by Brant Myers and Dan Grimm from San Luis Obispo, California in 2009. The company also allows users to add their own games to the system, making it one of the best man-cave accessories available. Brant and Dan met in high school and became friends.
They combined their passion for gaming and beer, and Brant came up with the idea of merging their arcade machine with their kegerator to create a new product, which he named ARKEG.
Brant conceptualized the idea, and Dan, being an industrial designer, made it a reality. Brant was so determined to make his dream come true that he even mortgaged his home to finance the first 50 units.
ARKEG Shark Tank pitch?
ARKEG, a unique combination of video games and beer, made an appearance on Shark Tank in episode 412. Founders Brant Myers and Dan Grimm were seeking a $100,000 investment in exchange for a 33% stake in their company, valued at $303,030.
Despite being friends for over two decades and having a successful run, none of the Sharks were interested in the ARKEG.
Mark Cuban, Lori Greiner, Robert Herjavec, and Daymond John all declined to invest, with each Shark citing different reasons for their decision. Only Kevin O’Leary enjoyed the wine poured from the ARKEG, but he also passed on the investment.
After leaving the show without a deal, the founders attempted to promote their company, but a May 2015 Facebook post indicated that the company was up for sale, including eight ARKEG units, the website, and the business.
The product appeared to be outdated, and the Sharks were correct in rejecting it. However, as of November 2021, the ARKEG is available for purchase on Uncrate.com for $4000.
It is possible that the founders sold the company or found another way to keep the product alive, but it is unclear what happened to ARKEG after the Shark Tank pitch.
Net Worth of ARKEG
The company valuation was $303,030 during and after the pitch, since then the company went out of business, and hence the company net worth is not available.
ARKEG Shark Tank Updates
Arkeg is an arcade game that also functions as a beer keg, combining two popular pastimes. Brant Myers and Dan Grimm pitched the product on Shark Tank in January 2013, seeking a $100,000 investment in exchange for a 33% stake in their company, which was valued at $303,030.
However, none of the Sharks were interested in investing in the product, and Arkeg went out of business after the episode aired. Despite this, the product is still available for purchase on Uncrate.com as of August 2021 for $4000.
The Drink n Game website is no longer operational, and Arkegs have become collector’s items.
The company, including “8 ArKeg units,” as well as the website and business, were up for sale. It appears that the product was too big and outdated for modern gamers, and the Sharks made the right decision in passing on the opportunity.
Table: ARKEG Shark Tank Net Worth Summary
|Arcade game cabinet with the built-in beer keg
|Brant Myers and Dan Grimm
|Shark Tank Appearance
|Episode 412 in January 2013
|$100,000 for 33% equity
|Shark Tank Result
|Out of business since 2015
|Company Net Worth
|Available for purchase on Uncrate.com for $4000
|69 licensed classic video games, keg chiller, tap system
|The entire business put up for sale for $11,500 including 1 complete machine and parts for 8 more
|Founders’ Net Worth
What Is ARKEG?
ARKEG is a vintage video game cabinet that includes 69 licensed classic video games and a functional keg chiller and tap system. Brant Myers and Dan Grimm from San Luis Obispo, California established it in 2009.
The ARKEG has a standard-sized classic video game cabinet with a fully functioning keg cooler and tap system.
It features a PC-based computer system to deliver the games and a 24-inch LCD screen with 2.1 high-definition surround sound, two old-school joysticks, a trackball, and all the buttons for gaming.
The 69 pre-loaded arcade games include classics such as “Asteroids,” “Centipede,” “Mortal Kombat,” and “Xenophobe.” Additionally, it has the option to connect to wifi and load games to the system.
The ARKEG was pitched on Shark Tank in January 2013 but failed to receive a deal from the sharks. Only Kevin O’Leary showed interest in the wine poured from the ARKEG, and it is unknown if ARKEG had the legal right to distribute all the pre-loaded games. As of August 2021, the product is still available for purchase.
Who is the founder?
Brant Myers and Dan Grimm are the founders of ARKEG; they met in high school in San Luis Obispo, California, and became fast friends.
The pals roomed together in college and spent most of their free time combining their passion for gaming with another of their favorite hobbies, drinking beer.
Did ARKEG Have The Deal?
The ArKeg Company was up for sale, including “8 ArKeg units” as well as the website and business. The Sharks on Shark Tank did not invest in ArKeg, with Mark Cuban, Lori Greiner, Robert Herjavec, and Daymond John all declining to invest.
Only Kevin O’Leary made an offer, but the ArKeg founders declined it. The company’s fate after the show is unclear, but the Facebook post suggests that it was up for sale.
Is ARKEG Still In Business?
ARKEG is a video game cabinet that features 69 pre-loaded, licensed vintage video games and a functional keg chiller and tap system. It was pitched on the Shark Tank TV show in January 2013 by Brant Myers and Dan Grimm, who was seeking an investment of $100,000 in exchange for 33 percent equity.
However, none of the investors decided to invest in the product, and the company went out of business two years after the Shark Tank episode aired. In May 2015, Drink n Game, the company that created ARKEG, tweeted that the business was for sale, including eight completed ARKEGs.
The entire business was put up for sale for $11,500, which included one complete ARKEG machine and the parts to make eight more.
As of August 2021, the product was available for purchase on Uncrate.com for $4000. It is not clear whether the founders sold the company or found another way to keep the product alive.
However, it appears that the product is no longer in production, and the Drink n Game website is no longer functioning. Therefore, it can be concluded that ARKEG is no longer in business.
What Are the Competitors Of ARKEG?
Competitor analysis is a process that helps businesses understand their competitors and their significance to what they are trying to achieve.
A competitor analysis should examine competitors’ features, market share, pricing, marketing, differentiators, strengths, weaknesses, and missed opportunities.
There are three categories of competitors: direct, indirect, and replacement competitors. Direct competitors sell a similar product or service to a similar target audience. Indirect competitors sell a different product or service but target the same audience.
Replacement competitors offer a different product or service but address the same issue as the company’s products or services.
To conduct a competitor analysis, businesses can use tools such as competitor matrices or grids. Traditionally, competitor analysis and other similar studies have been outsourced to agencies, but these studies were often expensive, slow to complete, and only reflected one point in time.
With advancements in technology, brands have far greater access to real-time data and can conduct their own competitor analysis.
Market research is also an essential part of understanding competitors. Market research helps businesses find customers for their products or services and assesses the threat of new competitors or services.
Successful entrepreneurs do their homework to understand target markets, identify a customer base, and size up the competition.
By understanding competitors’ value propositions, businesses can evaluate the top competitive threats and determine the availability of the market or their next course of action.
What Happened To ARKEG After Shark Tank?
ARKEG was an arcade game machine that doubled as a beer tap, allowing users to play arcade games while pouring a cold one from the tap.
The two entrepreneurs behind ARKEG, Brant Myers and Dan Grimm from San Luis Obispo, California, pitched their business on Shark Tank in January 2013, seeking an investment of $100,000 in exchange for 33 percent equity. However, they did not get a deal.
Two years after the Shark Tank episode aired, ARKEG went out of business, and the entire business was put up for sale for $11,500, which included one complete ARKEG machine and the parts to make eight more.
As of August 2021, the product is available on Uncrate.com for $4,000. The Drink n Game website is no longer functioning, and ARKEGs seem to now be collector’s items.
Why Did The ARKEG Business Go Out Of Business?
The reason for ARKEG going out of business is not explicitly stated in the search results. However, it can be inferred that the product did not generate enough interest or sales to sustain the business. The ARKEG was priced at $4000, which may have been too expensive for most consumers.
Additionally, the Sharks on Shark Tank did not see the product’s potential and declined to invest in the company. The company was put up for sale in May, and there were no interested buyers by November of the same year.
The product received praise from those who bought it, but it seems that there were not enough buyers to keep the business afloat. It is possible that the ARKEG was ahead of its time and did not fit the market demand at the time.
How much were they seeking on Shark Tank?
They were seeking for $100,000 investment in return for a 33% stake in their firm, which was worth $303,030.
Where was the location of ARKEG?
ARKEG is located in San Luis Obispo, California.
Was ARKEG successful?
ARKEG was not successful because ARKEG could not have got the deal on Shark Tank.
Was ARKEG safe to use?
It was safe to use because ARKEG was a good product.
When did ARKEG go out of business?
ARKEG went out of business on July 2021.
Was ARKEG legit?
ARKEG was legit because ARKEG was a good product.
How does ARKEG work?
ARKEG works by having 69 pre-loaded, licensed old video games and a fully functional keg chiller and tap system.
How does the keg chiller work in the ARKEG?
In the ARKEG the keg chiller works by having 3 pucks.
What is the benefit of ARKEG?
The benefit of ARKEG is that users can play their favorite old video games while enjoying a refreshing beverage such as beer or wine.
Which video games come in the ARKEG?
ARKEG comes with 69 pre-loaded, licensed old video games.
Which age group used the most of ARKEG?
The age group who used the most ARKEG was those who loved playing video games and drinking beer at the same time.
Is it easy to install an ARKEG in a home party room?
It is easy to install an ARKEG in a home party room because all one needs is some friends and a drill.
Do you need to purchase the ARKEG units from the company?
No, one does not need to purchase the ARKEG units from the company.
Can this game be played inside a bar?
It can be played inside a bar but it is not recommended. Many bar owners do not like video games or drinking beer at the same time because there would be no revenue for drinks.
Was ARKEG being installed?
ARKEG can be installed in a home party room but it is not recommended because many bar owners do not like drinking beer at the same time.
Does ARKEG have an Ethernet port?
ARKEG does not have an Ethernet port but some of them have Wi-Fi.
Can you play ARKEG with one or more players?
ARKEG can only be played by one player at a time.
Can I pay ARKEG offline?
ARKEG can be paid offline but there would be a fee.
Was ARKEG an app?
It was an app but not anymore.
Is ARKEG a cheap product or expensive?
ARKEG is a cheap product because all users need is some friends and a drill.
Did ARKEG have a music player?
ARKEG did not have a music player but it does have Spotify.
What is the net worth of Brant Myers?
The net worth of Brant Myers is estimated at $1.1 million.
What is the net worth of Dan Grimm?
The net worth of Dan Grimm is estimated at $1.5 million.