WiSpots Shark Tank Net Worth -What Happened After the Shark Tank Pitch?
What Is WiSpots Shark Tank Net Worth?
The current net worth of WiSpots years after their appearance on Shark Tank is not available as the company WiSpots is out of business.
At the time of their appearance on Shark Tank, they were valued at around $12 million according to the founder Marine Kevin Flannery who offered a 10% stake in WiSpots to Sharks in exchange for a $1.2 million investment.
However, no deal was offered on the show and Kevin left without securing an investment from the Sharks. After the show aired, Kevin received calls from various businesses and distribution channels for WiSpots and its patent engagement center.
He started a new company called “WiSpotter” with their help. Unfortunately, WiSpots is out of business and its founder has moved on to other jobs
The founder, Kevin Flannery has a net worth of $800,000 as of 2022.
What is WiSpots? Who was the Founder of WiSpots?
WiSpots was a system that offered WiFi connectivity to patients in medical facilities such as waiting rooms and examination rooms, while also providing targeted advertising and discounts to users.
The system used wireless web pads that patients could use to check into the office, complete surveys, join clinical trials, browse the internet, and check email.
The system was funded by pharmaceutical companies and other advertisers. The founder of WiSpots was Kevin Flannery, a former maritime and wireless technology professional with over 20 years of experience.
Kevin is now the CEO of AivenGroup. WiSpots was the result of six years of research and development in the retail, healthcare, and media industries.
Despite the initial difficulties, Kevin pushed the company forward with determination, even funding the company with mortgages on his home, which he eventually sold.
Eventually, WiSpots merged with Worthington Healthcare Corporation to form WiFiciency, Inc, a company that provides services to healthcare institutions such as electronic health records and voice recognition.
What Happened to WiSpots at the Shark Tank Pitch?
Marine Kevin Flannery presented to the sharks, offering them a 10% stake in WiSpots in exchange for a $1.2 million investment, valuing the company at $12 million.
Kevin explained that he had invested $550,000 of his own money into the company since 2002, and was now financially struggling as a result.
The Sharks responded critically, with Kevin O’Leary comparing his investment to troops that were dying, Kevin Harrington viewing the Wi-Fi hotspots as not offering much more than email and advertisement access, Barbara praising Flannery’s courage but encouraging him to move on from the poor idea.
Daymond John warning him of losing everything and Robert Herjavec noting that there’s a fine line between foolishness and belief and Flannery appeared to be crossing it.
All the sharks eventually declined to invest, and Flannery thanked the sharks for their feedback and left the stage. After he left, the sharks described his pitch as “heartbreaking” and discussed the “dark side of business.” They felt they had given Flannery unbiased advice.
What Happened to WiSpots After the Shark Tank Pitch?
Despite being turned down by the Sharks, Kevin Flannery received a lot of interest from outside the tank, as various sales and distribution businesses approached him about marketing and distributing Wi Spots’ patient engagement center.
His new company, WiFiciency, provided additional products for medical centers, hospitals, and other healthcare institutions. Eventually, the merger with Worthington Healthcare Corporation proved to be beneficial.
Kevin stated to the News Observer, “I went from being prosperous to having nothing to earning my way back” and “This company will take off and be a great success.”
However, according to Kevin’s LinkedIn profile, he left the organization in 2012, indicating that the company may not have been as successful as he hoped.
What was the Net Worth of WiSpots Shark Tank?
On the first episode of season 1 of Shark Tank, Marine Kevin Flannery pitched the Sharks an investment opportunity in Wi Spots.
He proposed giving them a 10% equity stake in the company in exchange for a $1.2 million investment, valuing the company at $12 million.
Who are the competitors of WiSpots?
PatientPoint is a company that 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.
