Validated App Net Worth
The net worth of the Validated App is not known as the company was acquired and ceased to exist as an independent entity in June 2019. Validated App was estimated to be worth $3.1 million at the time of its appearance on Shark Tank in October 2018.
The app allowed users to earn credits for transportation and parking by spending at participating retailers. After failing to secure a deal with the Sharks, Validated was able to secure enough funding to operate in major cities across the United States such as New York, San Francisco, Las Vegas, Boston, and Chicago.
The company was then acquired by Reach Now Moovel services hosted by BMW and used as their sharing app for car services.
What is a Validated App and Who is the founder of a Validated App?
Validated App is a platform that allows businesses to offer partial reimbursement to customers for their transportation expenses, such as transit or parking fees. In exchange, customers must meet certain spending requirements at the retailer’s establishment.
The app collaborates with public transportation agencies and other mobility services, including ride-hailing apps and bike/scooter rentals. The primary goal of the Validated App is to provide incentives for customers to support participating businesses while also saving on their transportation costs.
Validated App was founded by Alex Wilhelm, Tov Arneson, and Ian Lyman. Initially, the creators intended to design an on-demand parking solution, but they shifted their focus as they saw a greater opportunity to impact transportation.
The app is straightforward to use; customers can identify participating retailers, verify purchases by scanning receipts, and then utilize the credits earned to pay for transportation services offered by partnering transportation firms. The service is free for users while participating merchants bear the cost.
Validated App Shark Tank pitch
Validated App founders Ian Lyman, Tov Arneson, and Alex Wilhelm pitched their software on Shark Tank to secure an investment. Their platform allows users to earn credits for parking and transportation, and they were seeking $250,000 for an 8% stake in their company, which had a valuation of $3.1 million.
During the pitch, they presented the concept and discussed their expansion plans, but the Sharks raised concerns about the system’s complexity and difficulty in understanding it. In the end, none of the Sharks invested in the Validated App, citing these and other issues, and the pitch concluded without a deal.
Despite not receiving investment from the Sharks, Validated App continued to operate. In June 2019, the Portland-based moovel acquired the company, although the terms of the acquisition were not publicly disclosed.
Subsequently, Validated App merged with Moovel’s car-sharing service, ReachNow, to create a new branch of the company also called Reach Now.
Net Worth of Validated App
The value of Validated App was estimated at $3.1 million at the time of its appearance on Shark Tank. However, in June 2019, the company was acquired and ceased to exist as an independent entity, therefore the company net worth is not known.
Competitors of Validated App
The main competitors of Validated App were; SpotAngels, ParkMe and ParkWhiz.
Validated App Shark Tank Updates
Validated is an app that allows users to earn credits for transportation by hitting spending targets at participating retailers.
The app was pitched on Shark Tank in Season 8 Episode 21 by founders Ian Lyman, Tov Arneson, and Alex Wilhelm, who were seeking $250,000 for 8% of their company. However, none of the Sharks were interested in investing due to the vague and confusing nature of the app.
Despite not receiving an investment from the Sharks, Validated continued to operate and was acquired by Reach Now Moovel, a service hosted by BMW.
However, Validated went out of business in June 2019, a little over two years after appearing on Shark Tank. It is unclear why the company went out of business, but it is possible that it was due to competition from other transportation apps or difficulties in scaling the business.
In summary, Validated is an app that allows users to earn credits for transportation by hitting spending targets at participating retailers.
The app was pitched on Shark Tank in Season 8 Episode 21 but did not receive an investment from the Sharks. Validated was later acquired by Reach Now Moovel but went out of business in June 2019.
Validated App Shark Tank Summary:
INFORMATION | DETAILS |
Name of the App | Validated App |
Founder(s) | Alex Wilhelm, Tov Arneson, and Ian Lyman |
Pitched in Shark Tank | Season 8 Episode 21 |
Amount Requested | $250,000 for an 8% stake |
Valuation at the time | $3.1 million |
Primary function | Platform that allows businesses to offer partial reimbursement to customers for their transportation expenses, such as transit or parking |
Net worth | Unknown due to being acquired and ceased to exist as an independent entity in June 2019 |
Competitors | SpotAngels, ParkMe and ParkWhiz |
Acquired by | Reach Now Moovel services hosted by BMW |
Current status | Ceased to exist as an independent entity in June 2019 |
Additionally, the summary provides information on how the Validated App works, its competitors, its appearance and update on Shark Tank, and an FAQ section discussing app validation.
Validated App FAQs
What Is Validated App And How Does It Work?
Validated App is a platform that allows businesses to offer partial reimbursement to customers for their transportation expenses, such as transit or parking. The app allows users to earn credits for transportation and parking by spending at participating retailers.
The net worth of the Validated App is not known as the company was acquired and ceased to exist as an independent entity in June 2019. After failing to secure a deal with the Sharks, Validated was able to secure enough funding to operate in major cities across the world.
To validate an app idea, one can use a simple process to verify the assumption that the world needs the app. Building and marketing an app can be expensive, so it is important to make sure that the target audience will value the app enough to use it on a regular basis.
The process of app validation involves researching the market, identifying the target audience, creating a prototype, testing the prototype, and getting feedback from potential users. It is also important to ensure that the app complies with appropriate functionality, user experience, and security standards.
In summary, Validated App is a platform that allows businesses to offer partial reimbursement to customers for their transportation expenses, such as transit or parking. The app allows users to earn credits for transportation and parking by spending at participating retailers.
To validate an app idea, one can use a simple process to verify the assumption that the world needs the app. The process of app validation involves researching the market, identifying the target audience, creating a prototype, testing the prototype, and getting feedback from potential users.
Who is the founder?
Validated App was founded by Alex Wilhelm, Ian Lyman and Tov Arneson.
What Was The Outcome Of The Validated App Shark Tank Pitch?
The founders of Validated, Ian Lyman, Tov Arneson, and Alex Wilhelm, pitched their app on Shark Tank in Season 8, asking for $250,000 for 8% equity, but they did not get a deal.
The company went out of business in June 2019, a little over two years after appearing on the show. However, according to Shark Tank Success, Validated was acquired by Reach Now Moovel services hosted by BMW.
What Happened To Validated App After Its Appearance At The Shark Tank?
Validated went out of business in June 2019, a little over two years after appearing on Shark Tank. However, BizzBucket reports that Validated was acquired by Reach Now Moovel services hosted by BMW.
The app allowed users to earn free credits for shopping and dining, and it also allowed businesses to offer partial reimbursement to customers for their transportation expenses, such as transit or parking. The app was founded by Ian Lyman, Tov Arneson, and Alex Wilhelm.
Although the app did not receive any investment from the Sharks, the founders received more consulting, speaking, and writing opportunities after their appearance on Shark Tank.
How much were they seeking on Shark Tank?
They were seeking for $250,000 for 8% equity of their company, which worth was $3.1 million.
What Happened to Validated App after Shark Tank?
After pitching their product on Shark Tank episode 823, they failed in getting an investment from any of the Sharks.
When did Validated App premiere on Shark Tank?
Validated App premiered on Shark Tank Season 823 on October 9th, 2018 during the middle of the episode.
What is the net worth of Validated App?
The net worth of Validated App is unavailable.
How to use Validated App?
Use the app to locate participating retailers, meet spending objectives at those merchants, scan receipts to verify purchases, and then use accrued credits to pay for transportation services provided by participating transportation firms.
It is completely free for users. Merchants who “participate in the transportation environment” foot the price.
Was Validated App a scam?
No. Validated App is completely legitimate and legit.
Who was Validated App CEO?
Validated App CEO was Alex Wilhelm.
Was Validated App a Public Company?
Yes, it was public on the website http://www.validated.com/
Was Validated App Available for iPhone?
No, it is not available for iPhones. IOS users can download the app from www.validatedparkingapp.com/download/ios/.
How does Validated App work?
Connect the phone to the favorite transit provider and Validated works behind the scenes to keep track of their purchases and set aside credits for them.
Did I need to install Validated App to use?
Yes, user needs to install this app on their phone.
How can I get Validated App?
User can download it from Google Play Store.
Was Validated App work?
The app was not yet available for sale or download. There is no link for Validated App on the Play Store either.
How was the business model of Validated App?
The business model of Validated App was to make deals with retailers, who would then offer you money back on select purchases, as long as you made a minimum expenditure at their stores.
Who can use Validated App?
Anyone who shops in places that are connected to the app and fulfill the minimum transaction requirements can use this.
How does Validated App work for iPhone?
There is no app available for iPhone users.
How do you validate the features of an application?
Communicate with the intended audience. Contacting their app’s target consumers might be the initial step toward introducing their app to the world.
Examine the shops, Conduct keyword research Create a landing page for their campaign. Distribute a rudimentary version of the app to review websites and recognize the size of their intended market.
What use does validation serve?
Validation, as a generic action, is used to determine the conformity of any activity’s result with its inputs. It is utilized to offer evidence and information that the transformation of inputs resulted in the desired and correct output.
How can I verify my application?
Conduct a market analysis. The first stage is to identify the target audience, create a Minimum Viable Product, and test the concept.
Conduct an analysis of the App Store charts; determine the Size of Your Target Market and the Product-Market Fit of Their App.
How do you determine whether an application is successful?
Determine the issue and intended audience. At the end of the day, the most successful apps are those that tackle a specific need for a limited segment of the population. They wish to target a small but growing market.
What is the net worth of Alex Wilhelm?
The net worth of Alex Wilhelm is unknown.
What is the net worth of Ian Lyman?
The net worth of Ian Lyman is unknown.
What is the net worth of Tov Arneson?
The net worth of Tov Arneson is unknown.