Bravo Tipping App Shark Tank Update | What Happened to Bravo Tipping App after Shark Tank?
What is Bravo Tipping App?
Bravo 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. Users are not required to provide any personal information.
Bravo makes it simple to find artists, valets, and other service providers. As a fan, you may show your support for your favorite people by purchasing experiences such as meet-and-greets, pre-concert passes, limited edition and backstage items.
Bravo was formed in Phoenix, Arizona, by Maria Luna and Hector Rodriquez. They think there are two ways to make money: through transaction fees tied to each payment and through a machine learning function that may be marketed separately to retailers based on anticipated use and spending patterns.
You may discover other users by name or vicinity to make payments to them. For example, musicians can have a Bravo name to which audience members can send tips.
Who is the founder of Bravo Tipping App?
Bravo was founded in Phoenix, Arizona, by Maria Luna and Hector Rodriquez. Back in 2013, the husband and wife duo came up with the concept because they were unable to tip their trekking guide.
The pair has additional enterprises, but they are all linked to medicine because Hector is a gastroenterologist. They intended to start a technological company and saw their difficulty as an opportunity.
The Bravo app allows you to tip and/or pay service providers that utilize it as well. There is a GPS function that displays nearby providers to users.
The app may be accepted by anybody, from a restaurant waiter to a tour guide. Each user and service provider gives the app with banking information in order to pay or be paid, but no personal information is transmitted.
Users pay with a credit or debit card, and suppliers are paid straight into their bank account. Money is sent within 1-3 days. It’s easy to use and eliminates the need to carry cash. Bravo is completely free to use. They generate money by charging a 2% charge on each transaction.
What Happened to Bravo Tipping App at Shark Tank pitch?
In episode 914, Dr. Hector Rodriguez and Maria Luna try to tip off the Sharks by pitching Bravo, their software that allows you to tip service providers using your smartphone. They require a Shark to scale their products.
Hector and Maria enter the Shark Tank pitch seeking $150,000 for a 5% stake in their $3 million firm.
They showcase their company and convey their narrative, followed by a question from the Sharks. Maria must explain that in order to tip, both parties must have the app, and they supply sales materials for service providers.
The app is used by 25% of service providers in Arizona, according to the business. The advantage is that it is more secure than Venmo or PayPal.
Since the company’s inception three years ago, they have handled $1 million. The individual tipping must pay a 2% processing charge.
Barbara gets up and expresses her confusion as Maria begins discussing how the software aggregates data. Barbara is the first Shark to goes out. Kevin believes they’ll need a lot more money than they’re asking for, so he goes out.
Alex agrees that it’s too difficult and has opted out as well. Lori and Mark have agreed to make a $150,000 bid for 15% equity in the firm.
Maria counters with $150,000 in exchange for 10% equity and 2% advisory shares.
Mark says he’ll do it if both he and Lori receive 2% advisory shares each. Maria and Hector consider it, accept the offer, and depart the pitch with the deal from two Sharks.
What Happened to Bravo Tipping App after Shark Tank?
The deal between Mark and Lori has never closed since their episode aired on Shark Tank and the pair departed with a deal.
In 2019, the firm began accepting cryptocurrency payments. Bravo is also experimenting with geofencing advertisements.
Geofencing marketing is a type of location-based marketing that allows professional service providers to engage with their Smartphone customers in a specified geographic place via mobile websites or mobile apps.
Geofencing is a location-based program that relies on a variety of technologies such as Bluetooth, GPS, Wi-Fi, and radio-frequency identification (RFID)
The firm is still in operation as of January 2022, with annual revenue of $2 million.
Competitors of Bravo Tipping App
The primary competitors of Bravo Tipping App are; Venmo, Payoneer Inc., WePay.com, Paysafe Group plc, TransferWise Ltd and Xoom Corporation.
Net Worth of Bravo Tipping App
The company valuation was $3 million during the pitch, since then the company is still in business as of January 2022 with annual revenue of $2 million and hence the company net worth had elevated.
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.