What Happened to WiSpots after the Shark Tank Pitch? WiSpots Shark Tank Update
What is WiSpots?
WiSpots was an interactive system that provided ad-supported wifi connectivity to patients in high-traffic areas of medical institutions such as waiting rooms, check-in areas, and examination rooms.
Patients may check into the office, complete out surveys, join up for clinical trials, just surf the online, or check email using a “wireless web pad” from the WiSpot display, all while getting tailored adverts and discount offers.
When it’s time for their appointment, the patients insert their web pad into the charging cradle on the display. Advertisers, such as pharmaceutical corporations, bear the expense.
Who was the Founder of WiSpots?
Kevin Flannery, a former maritime and wireless technology professional with over 20 years of experience, established WiSpots.
Kevin is now the President and CEO of AivenGroup, a company that connects organizations with relationships across several industry verticals to create strategic solutions.
WiSpots were created after 6 years of research and development in the retail, healthcare, and media industries.
Kevin’s ambition for WiSpots was to provide a cutting-edge suite of education and entertainment solutions for patient-centric institutions, while also creating an extra revenue stream for waiting rooms.
The zealous entrepreneur pushed the company forward at full throttle.
Despite his efforts, WiSpots had a difficult start, forcing Kevin to fund it with many mortgages on his home, which he finally sold.
Kevin had spent approximately $550,000 of his own money, credit and debit cards, his 401k, and his children’s college tuition in WiSpots by the time he appeared on Shark Tank.
By the time the episode aired, Wi Spots had combined with Worthington Healthcare Corporation, a supplier of healthcare-related software solutions, to form WiFiciency, Inc.
The new, strong business model provided a range of services to medical practices, hospitals, and other healthcare institutions, including automated medical transcription, electronic health records, and voice recognition.
What Happened to WiSpots at the Shark Tank Pitch?
Marine Kevin Flannery appeared on Shark Tank and offered the sharks a 10% stake in Wi Spots in exchange for a $1.2 million investment. This translates to a $12 million valuation.
Kevin said that he had put $550,000 of his own money on this patient information centre since 2002, and that he was practically broke as a result of his efforts; the responses from the group of elite super fish were fairly biting.
Kevin O’Leary was the first to jump in, using an analogy in which he equated his money to troops.
He informed Flannery that all of his troops were dying rather than bringing back money.
Kevin Harrington agreed that Wi-Fi hotspots provided little more than access to email and material replete with advertisements, and he, too, opted out.
Barbara complimented Flannery on his bravery in putting so much on the line for the sake of his business. She pulled him back down to earth after that compliment.
Barbara reminded Flannery that resigning requires more bravery than sticking with a poor concept. She went outside.
Kevin was warned by Daymond John that he was losing everything and that he should stop.
According to Robert Herjavec, there is a fine line between being a fool and believing, and Flannery appeared to be crossing it. Robert walked away.
Kevin Flannery thanked the Sharks for their feedback and exited the stage.
The Sharks discussed the presentation after he left. Robert described it as “heartbreaking,” and Kevin stated that they had just witnessed the “dark side of business.”
The problem, according to Robert, was “false encouragement,” but they felt they could give Flannery some unbiased advice.
What Happened to WiSpots after the Shark Tank Pitch?
Despite being rejected by the Sharks, Kevin Flannery had a lot of interest from people outside the tank, as various sales and distribution businesses approached him about marketing and distributing Wi Spots’ patient engagement centre.
Those same corporations were almost certainly delighted to find that Kevin’s new company (WiFiciency) provided even more goods for medical centres, hospitals, and other healthcare institutions. In the long run, the combination with Worthington Healthcare Corporation worked well.
Mr. Flannery told the News Observer, “I went from being prosperous to having nothing to earning my way back.” “This company will take off and be a great success.”
It turns out that it wasn’t all that successful. According to Kevin’s LinkedIn profile, he left the organization in 2012.
What was the Net Worth of WiSpots Shark Tank?
Marine Kevin Flannery appeared on Shark Tank season 1 episode 1 and offered the sharks a 10% stake in Wi Spots in exchange for a $1.2 million investment. This translates to a $12 million valuation.
Who are the competitors of WiSpots?
PatientPoint is a company functions like WiSpots.
WiSpots FAQS
What was WiSpots?
WiSpots was an interactive system that provided ad-supported wifi connectivity to patients in high-traffic areas of medical institutions such as waiting rooms, check-in areas, and examination rooms.
Who founded WiSpots?
The Founder of WiSpots was Kevin Flannery, a former wireless technology professional with over 20 years of experience.
How much was he seeking in the Shark Tank?
Kevin Flannery was seeking $1.2 million for 10% equity.
Did he the deal from the Sharks?
WiSpots didn’t get any offers from the Sharks.
How much did he raise to start the business?
Kevin had spent approximately $550,000 of his own money, credit and debit cards, his 401K, and his children’s college tuition in WiSpots.
When did WiSpots go out of business?
WiSpots went out of business in December 2012.
What is the website of WiSpots?
The website is not available anymore.
Where was WiSpots located?
WiSpots was located at North Carolina.
What is the phone number of WiSpots?
The phone number is not available anymore.
What is the email address of WiSpots?
The email address is not available anymore.
What happened to WiSpots after Shark Tank?
WiSpots was on its way to merging with WiFiciency, another wireless technology start up co-founded by Flannery.
According to the Gazette Review, WiSpots evolved into WiFiciency, a firm that provided medical transcriptions and electronic health records.
Where is Kevin Flannery now?
Kevin is now the President and CEO of AivenGroup, a company that connects organizations with relationships across several industry verticals to create strategic solutions.
What is net worth of Kevin Flannery?
Kevin Flannery’s net worth is unavailable.
When was WiSpots aired on Shark Tank?
WiSpots was aired on Shark Tank on August 9, 2009.
