SnagaStool Shark Tank Net Worth 2023

Jamie and Adriano appeared on Shark Tank Season 6 Episode 26 with their innovative business idea, in search of $120,000 for an 18% stake in their company. This translates into a $666,666.67 valuation of the company despite Jamie’s first business endeavor SnagAStool shut down in September 2016.

What is SnagaStool?

SnagaStool is an app designed for making bar-specific reservations. With this app, users can ensure that they get the best seat, finest view, and excellent service at the bar. Additionally, they get an unobstructed view of the TV and a chance to have a friendly conversation with the bartender.

To avoid the disappointment of finding all seats taken at their favourite pub, users can reserve a seat at any partnering establishment through the app well before their visit. The cost of saving a seat varies based on the bar and the event date, with “luxury” events like the Super Bowl being more expensive.

Using SnagaStool, users can book and pay for their seats, and bar owners can attract more guests by offering incentives such as complimentary appetizers to app users. The app also allows bar owners to sell their bar chairs, earning them extra money while the app collects a share of the cost.

When SnagaStool users arrive at a crowded pub and snag a seat at the bar, they feel like VIPs.

Who is SnagaStool Founder?

Jamie Manning and Adriano Varassin founded SnagaStool. Manning, who is also the CEO of the company, was once at a crowded pub trying to watch a game with Varassin.

They saw a woman occupying a bar stool and requested her to relocate so they could sit together, but she refused, claiming she was saving the seats for her friends who didn’t show up until the second half of the game. Manning and Varassin decided to create a company that would improve this experience by designing an app that allows customers to reserve a bar stool during important or high-traffic events.

They noticed that people were already reserving seats, but the establishments weren’t making any money from it. Instead of causing a scene or leaving the pub, Manning and Varassin came up with a solution to revolutionize the experience.

What happened to SnagaStool at the Shark Tank Pitch?

Jamie and Adriano made an appearance on Shark Tank Season 6 Episode 26 seeking $120,000 for an 18% stake in their company, which would give their company a $666,666.67 valuation. During the episode, they presented their business and demonstrated the software on a large screen.

Robert inquired about the need for their product, Snag a Stool, and they explained the difference between peak and off-peak hours at bars. While Lori thought regulars would be annoyed, Mark saw the potential to generate interest.

Mr. Wonderful asked if he could reserve a seat 15 minutes before a big game, and Dean explained that if the bar had enough inventory of stools, they could accommodate such a request, but not every stool was reserved for the SnagaStool service.

Jamie noted that during busy hours, the stools would be charged by the hour. They only had three bars left to demonstrate their concept, and Mark was curious about what made their app unique. Mr. Wonderful insisted on a guarantee of cash for the bar, and Mark suggested a substantial sum of $10,000.

Mark eventually left because he didn’t feel they had created enough value. Daymond also backed out of the deal, stating that he wasn’t familiar with the bar or restaurant industry.

The fundamental problem with the SnagaStool app was that the bar seats were always full during peak hours, and they were selling a service for real estate that no one wanted, rather than scarce items such as chairs before an NFL game. As a result, Robert also decided to step back.

Although Lori understood the concept, she felt it was too early and declined to invest. Kevin invited Jamie and Adriano to return after resolving the issues with their product, but he also declined to invest at the moment. With no offers on the table, Jamie and Adriano left Shark Tank without a deal. This company went out of business in September of 2016.

SnagaStool Net Worth

Jamie and Adriano appear on Shark Tank Season 6 Episode 26 in search of $120,000 for an 18% stake in their company. This translates into a $666,666.67 valuation.

SnagaStool Competitors

There is no competitor identified for SnagaStool.

SnagaStool Shark Tank Summary:

CATEGORY	INFORMATION
Name	SnagaStool
Founders	Jamie Manning and Adriano Varassin
Description	An app for making bar-specific reservations, where users can reserve a seat, pay for it, and avoid the disappointment of finding all seats taken. Bar owners can offer incentives such as complimentary appetizers to app users and sell their bar chairs through the app.
Shark Tank Pitch	Appeared on Season 6 Episode 26, seeking $120,000 for an 18% stake in the company, which would give their company a $666,666.67 valuation. Left without a deal.
Competitors	None identified
Net Worth	$666,666.67 (as of Shark Tank pitch in 2015)
Updates	The company went out of business in September 2016, shortly after appearing on Shark Tank. No updates on the progress of SnagaStool as of 2023.

SnagaStool Shark Tank Updates

Snag a Stool is a bar-specific reservation application that was presented on Shark Tank during season 6 by Jamie Manning and Dean Whitney. The app aims to help users get a seat at the bar by allowing them to reserve a seat ahead of time.

Jamie and Adriano Varassin appeared on Shark Tank in search of $120,000 for an 18% stake in their company, which translated into a $666,666.67 valuation of the company. However, the duo walked away without a deal.

After the show, Snag a Stool did not take off as expected, and the company went out of business not long after filming the episode. Despite the exposure they got from the show, the app never really took off. As of 2023, there have been no updates on the progress of Snag a Stool.

SnagaStool FAQS

What Is SnagaStool And How Does It Work?

SnagaStool is a smartphone app that allows users to reserve seats at bars and pubs on busy nights or when big events are happening. It is the first and only mobile app that ensures users will be able to get their favorite seat at the bar.

The app connects customers with bars and restaurants to help them find the best seat in the house. Users can book their bar stool in advance, which is the perfect solution for anyone looking to discover new places or avoid the disappointment of finding no place to sit.

According to an interview with co-founder Jamie Manning, SnagaStool entered the Shark Tank in Season 6 with its solution to booking a seat at a crowded bar.

Although they did not get a deal, the company enjoyed tremendous growth between the time they filmed in September of 2014 and the time they aired in April of 2015. However, according to updates, the app never really took off and the company went out of business not long after filming the episode.

Who founded SnagaStool?

Jamie Manning and Adriano Varassin are the two founders of SnagaStool.

What Was The Outcome Of SnagaStool Shark Tank Pitch?

During their Shark Tank pitch in season 6, Jamie Manning and Dean Whitney sought an investment of $120,000 in exchange for 18% equity in their company, SnagaStool.

However, they did not get a deal from any of the Sharks. According to updates, the app never really took off, even with the exposure they got from the show, and the company went out of business not long after filming the episode.

What Happened To SnagaStool After Its Appearance At The Shark Tank?

After appearing on Shark Tank, SnagaStool did not get a deal from any of the Sharks. However, the company continued to partner with local bars and enjoyed tremendous growth.

According to updates, the app never really took off, and the company went out of business not long after filming the episode.

In an interview with one of the co-founders, he mentioned that they improved their service based on feedback received after the show. Despite their efforts, the app did not gain enough traction to sustain the business.

How much were they seeking in the Tank?

Jamie and Adriano appear on Shark Tank Season 6 Episode 26 in search of $120,000 for an 18% stake in their company.

Did they get the deal from the Sharks?

No, the Sharks declined their offer.

Are they still operating as a business?

No, this business is no longer in operation.

What episode of Shark Tank was SnagaStool featured?

They were on Season 6 Episode 26.

What became of SnagaStool after the shark tank?

Following the closure of his previous business venture, SnagaStool, in September 2016, the MBA graduate from Suffolk University started a new start-up named BaggaBox.

Where was SnagaStool located?

SnagaStool was located in Boston, Massachusetts.

What is the net worth of Dean Whitney?

Dean Whitney’s net worth is unavailable.

What is the net worth of Jamie Manning?

Jamie Manning’s net worth is unavailable.

How was SnagaStool charging?

SnagaStool was charging by the hour, or by the game, depending on the bar’s preferences.

How many bars did SnagaStool have?

As of Shark Tank they were already partnered with 3 bars in the Boston area.

Was SnagaStool successful?

No, they shut down the business since it wasn’t profitable.