Games2U Net Worth
When Stuart and David Pikoff pitched Game2U on Shark Tank, they were seeking a $500,000 investment in exchange for a 10% stake in the company. This implies that the valuation of Game2U at the time was $5 million.
However, since their appearance on the show, the company’s valuation has apparently increased significantly. While the current valuation of the company is not explicitly stated, it is clear that it is higher than the $5 million valuation presented on Shark Tank.
This is not uncommon for companies to experience significant growth and increased valuations following exposure on the show, as well as other factors such as successful expansions, increased revenue, and new partnerships.
What is Games2U and Who is the Founder of Games2U?
Games2U is a company that provides mobile entertainment services for events like children’s birthday parties, workplace events, or charity events.
They bring a truck loaded with a variety of games and activities, including mobile video game theaters, 4D ride experiences, giant hamster balls, laser tag, and a massive “Ubot” robot that can be controlled.
Founded in 2006 by brothers Stuart and David Pikoff, Games2U was born out of the idea of creating a comprehensive party experience for both children and adults.
Stuart, who graduated from the University of Arizona and worked in the real estate industry, serves as the CEO of the company, while David, a graduate of St. Edwards University with a similar background in real estate development, serves as a director of the corporation.
The brothers came up with the concept of Games2U when they noticed a gap in the market for children’s entertainment that catered to modern interests like computer games and outdoor activities.
They recognized that renting a venue for these activities could be expensive for parents, so they decided to create a business that brought everything to the customer’s own backyard.
Games2U started with just one truck, but their plan was always to expand and offer franchise opportunities. They offer over 20 different games and activities for people of all ages, making them a popular choice for events of all kinds.
Games2U Shark Tank Pitch
Brothers Stuart and David Pikoff appeared on season 2 episode 7 of Shark Tank, seeking a $500,000 investment for a 10% stake in their mobile entertainment company, Games2U, which was valued at $5 million.
Stuart mentioned to Kevin that their sales were impressive, as the company had made around $3.5 million the previous year (2010), with projected earnings of nearly $5 million in the current year.
At the time of airing, Games2U had sold 140 franchises in 28 states, with a franchisee investment of approximately $150,000 and a monthly royalty fee of 6% with a minimum of $1,000.
However, Kevin was unhappy with the low-profit margin and was taken aback by the company’s valuation. Daymond withdrew from the investment opportunity, while Barbara and Jeff declined due to potential R&D expenses and high costs for the average household, respectively.
Robert felt that Games2U could only make more money if they developed new products and exited the pitch. Kevin made an offer of $500,000 for a controlling 51% stake, but the brothers declined, instead proposing $500,000 for 25% ownership, which Kevin refused.
Despite leaving Shark Tank without investment, Games2U went on to expand to over 150 franchises across the US, with a master franchise in Canada and franchisees in seven Middle Eastern countries.
The company is headquartered in Austin, Texas, and has been exploring franchise opportunities in Australia, South Africa, and Europe. In 2012, Games2U was ranked 24th on the Entrepreneur Magazine Franchise 500, and as of January 2022, the company had annual sales of $9 million and over 140 franchisees.
What is the Net Worth of Games2U?
Pikoff Stuart and David Pikoff pitched Shark Tank in search of $500,000 for a 10% stake in Game2U. This suggests a $5 million valuation.
The current valuation of the Company is evidently higher compared to one on the Shark Tank.
Who are the Competitors of Games2U?
There are no competitors identified for Games2U.
Games2U FAQS
What is Games2U?
Games2U is a mobile entertainment company that is offering both children and adults alike a chance to play their favourite games in an outside environment.
Who are the CEO and CFO of Games2U?
Stuart Pikoff takes the role of the CEO of Games2U. The CFO is David Pikoff.
How much does it cost to become a Franchisee for Games2U?
The initial investment for becoming a franchisee with Games2U will be $150,000.
Who founded Games2U?
The founder of Games2U is the brothers David and Stuart Pikoff.
How much were they seeking in the Shark Tank?
The Pikoff’s were seeking $500,000 for a 10% stake in their company.
Did Games2U make a deal with the Sharks in the Shark Tank?
Games2U was not able to secure an investment from any of the Sharks because of the high valuation they were seeking.
Does Games2U have an app or online platform?
Games2U does not have a mobile application at this time. The company focuses on bringing fun and games to their door step.
Is Games2U still in business?
The firm is still in operation, with an active website and offices in Austin, Texas.
They are still the number one supplier in this business model, and their games and activities are continually expanding.
What is the website of Games2U?
The website of Games2U is www.g2u.com.
Can they buy Games2U products online?
They cannot purchase anything directly on the website, but they can place an order for a party that will be brought to their doorstep. There are no direct purchases on their website.
How much does it cost?
Their rates are determined by a variety of criteria, including the games they choose and the length of their event.
Is there an age limit?
No. Games2U has more amazing games than anybody else and can provide activities for people of all ages.
Do parents have to supervise?
No. Their Games2U activities are handled by professional Game Coaches who are there to ensure the safety of their players and the success of their event!
Do they need to plug in for electricity?
Normally, no. Their video game trucks are powered by on-board generators, and all of their other equipment is fully charged prior to the event.
If a power source is required for their event, they will be informed at the time of booking.
How many players do their games accommodate?
They can have as many as they want! They are equally at ease entertaining a group of ten or catering to an event with hundreds of participants.
They have the activities to make any event a success, regardless of its size or scope!
What video games are available on their game trucks?
They are, at heart, gamers, and their present games are always changing. They may, however, be guaranteed that they will arrive with the greatest and most recent games available.
Can they choose the video games that are used on their game trucks?
When students come for their event, their game coaches will be pleased to review the games that are currently available, and they recognize that parents may choose to only use particular games from their catalog.
Are their events always outdoors?
No. The majority of their equipment may be utilized both indoors and outside if there is enough room.
Do they need a lot of space for games like Laser Tag?
They may set up in a variety of front and backyards, cul-de-sacs, neighbourhood parks, and school yards.
They’re adept at transforming their environment into a tough battleground!
Are the laser tag guns safe? Can they hurt a player’s eyes?
Laser tag guns from Games2U are completely safe and do not affect the eyes.
What if it’s bad weather? Do they have a cancelation policy?
Games2U events take place rain or shine, and they will only cancel an event if they consider the conditions are unsafe for the players or their equipment.
What is net worth of Stuart Pikoff?
Stuart Pikoff’s net worth is unavailable.
What is net worth of David Pikoff?
David Pikoff net worth is $100,000.
