ChessUp Shark Tank Net Worth-What Happened After Shark Tank?

What Is ChessUp? Who Founded ChessUp?

ChessUp is a smart chessboard with a built-in chess instructor that serves as a coach, analyst, and worthy opponent all in the course of a single game.

It was developed by co-founders Jeff Wigh, Justin Farrell, and Adam Roush. The three co-founders met while working together on an innovation team for Garmin, an electronics company based in Olathe.

Wigh began developing ChessUp as a way to teach his daughter chess after he noticed her playing chess on an app with one of her friends.

ChessUp is the first product of Bryght Labs, a gaming startup headquartered in Overland Park, Kansas. The company has five people working on the upcoming Shark Tank project.

ChessUp features accompanying products that can be purchased on its official website. Spare chess pieces can also be purchased separately.

ChessUp officially launched in 2021 and has generated significant crowdfunding on Kickstarter. In Shark Tank, the co-founder disclosed about their company revenue.

The smart AI-based chess board makes learning chess easier for beginners who can learn through this board.

ChessUp ensures that players enjoy themselves while working on their skills and ensuring that the sport does not die a slow death.

Table: ChessUp Shark Tank Summary

TOPIC	INFORMATION
Product	ChessUp – a smart chessboard with a built-in chess instructor
Founders	Jeff Wigh, Justin Farrell, and Adam Roush
Company	Bryght Labs
Headquarter	Overland Park, Kansas
Shark Tank Pitch	$300k for 5% equity in the company at a $6 million valuation
Deal	Lori Greiner invested $300,000 for 5% equity plus a 3% royalty until she recouped 1.5x her investment
Revenue	Projected to reach $1.4 million in 2022
Net Worth	$4 million USD (geeksaroundglobe.com) or $1 million to $2.5 million (sharktanktalks.com)
Spare Pieces	Can be purchased from the official website for $79
Features	Accompanying products that can be purchased, AI-based smart electronic device
Growth	Secured additional funding and partnerships
Updates	ChessUp is still in business, growing in popularity

What Happened To ChessUp At Shark Tank?

Adam and Jeff appeared on Shark Tank together and requested $300k for a 5% stake in their business. They provided a video presentation to the sharks, showcasing their innovative product called the “AI Base Chess Board”. During the pitch, they explained the functionality and features of their product.

The sharks were concerned about the company’s implied valuation of $6 million. Barbara Corcoran and Mark Cuban dropped out, while Kevin O’Leary was interested but found the royalty structure too complicated.

However, Lori Greiner offered Jeff and Adam a deal of $300,000 for 5% equity and a 3% royalty until she recouped 1.5x her investment, which they accepted.

According to an article on shawneemissionpost.com, ChessUp struck a deal with Lori Greiner on the show. Players can purchase spare chess pieces from ChessUp’s website for $79.

An article on thecinemaholic.com states that after appearing on Shark Tank, ChessUp launched under the banner of Bryght Labs and became exclusively available on their official website. The company earned over a million dollars in revenue from its campaign.

What Happened To ChessUp After Shark Tank?

ChessUp, a smart chess board created by Justin Farrell, Adam Roush, and Jeff Wigh, was featured on Shark Tank Season 14.

The entrepreneurs asked for $300,000 for 5% equity in the company at a $6 million valuation. Lori Greiner accepted their offer of 5% equity for $300,000 plus a 3% royalty until she recouped 1.5x her investment.

Since appearing on Shark Tank, ChessUp has seen success. In 2022, the company’s revenue was projected to reach $1.4 million.

The product has been featured in Techie + Gamers magazine and is growing in popularity. ChessUp is continuing to grow and develop its products with the help of Lori Greiner’s investment.

ChessUp Shark Tank Net Worth

The company appeared on Shark Tank Season 14 Episode 9 and asked for $300,000 for 5% equity at a $6 million valuation.

ChessUp is a product that utilizes technology to teach users how to play the game of chess. It is an AI-based smart electronic device that suggests different possible moves to the player by highlighting them in green, blue, and red colors.

While Mark Cuban, Kevin O’Leary, and Barbara Corcoran refused to invest in the business, Lori Greiner invested $300,000 for 5% equity plus a 3% royalty until she recouped 1.5x her investment.

According to geeksaroundglobe.com, ChessUp has a net worth of around $4 million USD as of 2023. However, sharktanktalks.com estimates ChessUp’s worth at $1 million to $2.5 million.

Since appearing on Shark Tank, ChessUp has secured additional funding and partnerships leading to its growth and success.

Is ChessUp Still In Business?

Yes, ChessUp is still in business as of February 2023. The company was founded by Jeff Wigh, Justin Farrell, and Adam Roush and is headquartered in Overland Park, Kansas.

ChessUp is a smart chessboard with a built-in chess instructor that helps beginners learn the game. It features accompanying products that can be purchased on playchessup.com.

The co-founders started fundraising campaigns in April 2021 and struck a deal with investor Lori Greiner on an episode of ABC’s Shark Tank in January 2023.

ChessUp Shark Tank Updates

ChessUp is a smart chess board that utilizes technology to teach users how to play chess. The company was founded in 2020 by three co-founders, Adam Roush, Jeff Wigh, and Justin Farrell, who met while working at Garmin as product development professionals and engineers.

The idea for ChessUp came from Wigh, who wanted to teach his daughter chess.

Within 39 days of launching a Kickstarter campaign in March 2021, ChessUp raised $1.7 million through crowdfunding. The company officially launched in 2021. ChessUp is a high-tech electronic chess board with a built-in chess engine and chess instructor.

The board suggests different possible moves to the player by highlighting them in green, blue, and red colors. ChessUp can teach a complete newcomer how to play chess and which moves may be available for each of their pieces.

Adam Roush and Jeff Wigh appeared on Shark Tank Season 14 Episode 9 to pitch their product to the sharks. They asked for $300,000 for a 5% equity at a $6 million valuation.

Lori Greiner invested $300,000 in ChessUp for 5% equity and a 3% royalty until paid back 1.5 times. ChessUp is set to ship in June 2023. Spare chess pieces can be purchased on ChessUp’s website, with a 34-piece set costing $79.

How Does ChessUp Shark Tank Work?

ChessUp is an electronic smart chess board that utilizes technology to teach users how to play the game of chess. The built-in system can teach a complete newcomer how to play chess and which moves may be available for each of their pieces.

ChessUp has a built-in AI that can assist in balancing a match or playing against the user. The product was pitched on Shark Tank by entrepreneurs Jeff Wigh and Adam Roush, who explained how their patented chess game uses advanced technology to serve as a training mechanism for new players.

The sharks were impressed with the product and offered $300,000 for 5% equity plus a 3% royalty.

ChessUp does not require an app to function and works entirely on its own. The board can connect to the app to unlock even more functionality like online matches and an even stronger AI.

The designated clock combined with the board’s ability to sense the pieces allows users to play quick games with the clock switching automatically after every move.

ChessUp’s mission is to make the game more approachable and provide hours of screen-free entertainment. Spare chess pieces can also be purchased on ChessUp’s website.

How Has ChessUp Since Appearing On Shark Tank?

ChessUp is a smart electronic chess board that uses AI technology to teach users how to play chess.

The product was featured on Shark Tank Season 14, and the entrepreneurs, Jeff Wigh and Adam Roush, made a deal with Lori Greiner for $300,000 for 5% equity and a 3% royalty.

Since appearing on Shark Tank, ChessUp has experienced tremendous growth and success, securing additional funding and partnerships. The company officially launched in 2023.

ChessUp’s net worth is estimated to be between $1 million to $2.5 million. However, Geeks Around Globe reports that ChessUp’s net worth is around $4 million as of 2023. ChessUp’s founders, Adam Roush, Jeff Wigh, and Justin Farrell, have a net worth of $4 million as of 2023.

ChessUp’s electronic chess board suggests different possible moves to the player by highlighting them in green, blue, and red colors. Players can also purchase spare chess pieces, with a 34-piece set costing $79 on ChessUp’s website. ChessUp’s success shows that with the right idea and execution, anything is possible.

What Is The Current Valuation Of ChessUp Shark Tank?

The current valuation of ChessUp is estimated to be between $1 million to $2.5 million. During their appearance on Shark Tank Season 14 Episode 9, the founders of ChessUp, Adam Roush and Jeff Wigh, asked for $300,000 for a 5% equity at a $6 million valuation.

However, the sharks were concerned about the high valuation and ultimately, only Lori Greiner invested $300,000 for 5% equity and a 3% royalty until she recouped 1.5 times her investment.

Therefore, it can be inferred that the current valuation of ChessUp is likely to be less than $6 million, which the initial valuation was proposed during their Shark Tank pitch.

Where Can I Buy ChessUp?

ChessUp is a high-tech chess board with a built-in chess engine and chess instructor that makes learning and improving chess faster and easier by lighting up all possible moves according to strength. It is available for purchase on several websites.

ChessUp can be purchased directly from the manufacturer, Bryght Labs, on their website playchessup.com. They ship anywhere in the US, Canada, EU, Australia, and internationally. ChessUp is also available for purchase on chesshouse.com, chesscomshop.com, and houseofstaunton.com.

It is important to note that ChessUp is currently available for pre-order and is estimated to ship in June 2023. The price of ChessUp varies depending on the website and any promotions that may be available. It is recommended to compare prices and promotions before making a purchase.