Bravo Tipping App Shark Tank Update | What Happened to Bravo Tipping App after Shark Tank?
What is Bravo Tipping App?
Bravo is a cashless transaction software that enables various service providers, such as valet attendants, sports coaches, chefs, buskers, comedians, musicians, and yoga teachers, to set up a digital store for their customers to make payments without the need for personal information.
It allows users to easily find and support their favorite service providers by purchasing experiences such as meet-and-greets, pre-concert passes, limited edition items and backstage access.
The company, founded in Phoenix, Arizona by Maria Luna and Hector Rodriquez, generates revenue through transaction fees and through a machine learning function that can be sold separately to retailers based on predicted usage and spending patterns.
With Bravo, users can search for and make payments to other users by name or location, for example, musicians can have a Bravo account where audience members can send tips.
Who is the founder of Bravo Tipping App?
Bravo, an app that allows users to tip and pay service providers, was founded in Phoenix, Arizona by a husband and wife team, Maria Luna and Hector Rodriquez.
They came up with the idea in 2013, after they were unable to tip their trekking guide. Hector, being a gastroenterologist, they had other business ventures related to medicine.
They saw this difficulty as an opportunity to start a technological company.
The app uses GPS to display nearby providers to users, and can be used by anyone from a restaurant waiter to a tour guide. Users pay with credit or debit cards and providers are paid directly to their bank account within 1-3 days.
The app is free to use and Bravo generates revenue by charging a 2% fee on each transaction. No personal information is transmitted during the process.
What Happened to Bravo Tipping App at Shark Tank pitch?
In episode 914 of Shark Tank, Dr. Hector Rodriguez and Maria Luna pitch their software, Bravo, which allows for easy digital tipping of service providers through smartphones.
They are seeking $150,000 for a 5% stake in their $3 million company. The Sharks question the logistics of the app, and Barbara and Kevin opt out, while Alex also declines to invest.
However, Lori and Mark make a counteroffer of $150,000 for 15% equity in the company, with the added condition of 2% advisory shares for both Lori and Mark. Hector and Maria accept the offer and leave the pitch with the deal from Lori and Mark.
What Happened to Bravo Tipping App after Shark Tank?
Mark and Lori’s deal on Shark Tank never materialized, but the company is still operating and accepting cryptocurrency payments and experimenting with geofencing ads.
Geofencing is a form of location-based marketing that targets customers in specific geographic areas using technologies like Bluetooth, GPS, Wi-Fi, and RFID. As of January 2022, the company has an annual revenue of $2 million.
Competitors of Bravo Tipping App
Bravo Tipping App faces competition from companies such as Venmo, Payoneer Inc., WePay.com, Paysafe Group plc, TransferWise Ltd, and Xoom Corporation.
Net Worth of Bravo Tipping App
The company’s worth was estimated at $3 million during the pitch. As of January 2022, the company is still operational with an annual revenue of $2 million, resulting in an increase in net worth.
Bravo Tipping App FAQs
What is Bravo Tipping App?
Bravo Tipping App is cashless transaction software that allows valet attendants, sports, chefs, buskers, comedians, musicians, or yoga teachers to construct a store where their consumers may pay them or pay them.
Who is the founder?
The founder of Bravo Tipping App is Maria Luna and Hector Rodriquez.
When did they start?
Bravo was founded in Phoenix, Arizona, by Maria Luna and Hector Rodriquez in 2013.
How much money did they asks from the Shark Tank investors?
The founders were asking for $150,000 for a 5% stake in their firm.
Did they have the deal?
Yes, they did the deal with Mark Cuban and Lori Greiner.
How much did they invest on Bravo Tipping App?
They invested $150,000 for 10% equity shares plus 4% advisory shares of the company, but the deal was never closed.
Is Bravo Tipping App still in business?
Yes, the company is still in operation as of January 2022, with annual revenue of $2 million.
How to contact Bravo Tipping App?
The best way to contact them is via their official website.
How can I download the Bravo Tipping App?
Users can download the application on Apple Store or Google Play Store.
How many users does Bravo Tipping App have?
The Bravo Tipping app has 1 million registered users and 160,000 in monthly transactions.
What technology is used by Bravo Tipping App?
The technology that is used by Bravo Tipping App is an interface developed using Google Maps Engine.
What are the payment methods accepted by Bravo?
The payment methods accepted by Bravo are credit/debit cards and PayPal.
Do users of Bravo Tipping App require providing information?
No, users are not required to provide any personal information. Bravo makes it simple to find artists, valets, and other service providers.
Does Bravo Tipping App really work?
Yes, Bravo Tipping App is a safe and secure cashless payment system.
What exactly is Bravo payment?
Bravo Payment Systems is a full-service electronic payment processor with strong partnerships with First Data Merchant Services, the nation’s biggest payment processor.
What distinguishes Bravo from Venmo?
The Bravo app is a payment app, similar to Venmo, but with the added feature of paying persons who are physically standing nearby for services. The app utilizes GPS technology to pinpoint each user and users can only pay those who are standing nearby.
Is Bravo available on Amazon Prime?
Although Amazon Prime is not a standard streaming service, it does allow users to view Bravo content online. This online store allows customers to buy single episodes or entire seasons of Vander pump Rules, The Real Housewives of Atlanta, Top Chef, and other famous Bravo series.
How Bravo Tipping App does make money?
Bravo makes money through subscription fees and advertising. The premium version of the app is completely ad-free while the free version limits the number of people a user can pay.
How much is Bravo Tipping App costs?
The Bravo Tipping App is available for users on iOS and Android devices. The app is available in both free and premium versions with the costing $2 per month or $20 per year.
What is the net worth of Maria Luna?
Maria Luna is the founder of Bravo Tipping and she has an estimated net worth of $20 million.
What is the net worth of Hector Rodriquez?
Hector Rodriquez is also the founder of Bravo Tipping and he has an estimated net worth of $2.5million.