Validated Shark Tank Net Worth (Before and After Shark Tank)

Validated, an app that allows users to earn ride credits by spending in stores, was started by Ian Lyman, Tov Arneson, and Alex Wilhelm in 2014. Their net worth is not available as of September 2023. In 2017, they appeared on Shark Tank USA seeking $250,000 for 8% equity, valuing the company at $3.1 million. However, all sharks dropped the business due to concerns about the use of QR codes and potential issues. Unfortunately, Validated went out of business in 2019, just two years after their appearance on Shark Tank.

Key Takeaways:

• Validated is an app started by Ian Lyman, Tov Arneson, and Alex Wilhelm in 2014.
• The founders’ net worth is not available as of September 2023.
• They appeared on Shark Tank USA in 2017 seeking $250,000 for 8% equity.
• All sharks dropped the business due to concerns about QR codes and potential issues.
• Validated went out of business in 2019, just two years after their Shark Tank appearance.

Validated App and Shark Tank Pitch

The Validated app, introduced by Ian Lyman, Tov Arneson, and Alex Wilhelm, allows users to earn credits for parking and transportation by spending at participating retailers. The trio pitched their innovative concept on season 8 of Shark Tank, seeking $250,000 for 8% equity in their company. However, their pitch did not result in a deal with any of the sharks.

During the Shark Tank pitch, the sharks expressed concerns about the complexity of Validated’s business model, particularly regarding the use of QR codes and the potential for future growth. Despite these concerns, Validated expanded its services to additional cities and formed partnerships with more transportation providers. However, the company faced challenges and ultimately went out of business in 2019.

The Sharks’ hesitation to invest in Validated highlights the importance of addressing potential issues and market trends when pitching a business idea. While the concept of the Validated app was innovative, the complexity of the business model and the changing landscape of the transportation industry likely contributed to its downfall.

Shark Tank Season 8 Pitch Details:

Entrepreneurs	Requested Amount	Equity Offered	Valuation
Ian Lyman, Tov Arneson, Alex Wilhelm	$250,000	8%	$3.1 million

Validated Founders and Conclusion

Validated, the app that allowed users to earn credits for parking and transportation, was founded in 2014 by Ian Lyman, Tov Arneson, and Alex Wilhelm. Tov Arneson, a serial entrepreneur in the mobile app space, brought his expertise to the team, while Alexander Wilhelm, a skilled software engineer, contributed his technical knowledge. Ian Lyman, a marketing and product expert, played a vital role in shaping Validated’s strategy.

Despite the founders’ combined skills and ambition, Validated faced significant challenges and ultimately went out of business in 2019. While the concept of the app was innovative and promising, the complexity of the business model and evolving market trends proved to be formidable hurdles.

Although the net worth of the founders is unknown as of 2023, their entrepreneurial spirit and determination remain evident. The founders’ journey with Validated serves as a reminder of the risks and uncertainties involved in building a startup, even for talented individuals with innovative ideas.

While Validated may not have achieved the success they had hoped for, the experience gained by Ian Lyman, Tov Arneson, and Alex Wilhelm undoubtedly shaped their future endeavors. Their contributions to the mobile app industry and their efforts to solve transportation and parking challenges should be acknowledged, as they continue to make a lasting impact in the startup ecosystem.