Many individuals enjoy playing games and throwing parties, but they frequently run into the problem of wondering how to keep everyone happy and engaged. You may put up a kegerator for a fresh, cold beer or play an entertaining arcade game. However, wouldn’t it be wonderful to have both in one location?
Dan Grimm and Brant Myers created the innovative ARKEG, a kegerator and arcade cabinet hybrid, to address this very problem. Through this product, people will have a chilled beer and have an enjoyable gaming experience.
To secure funding to expand their company, Dan and Brant pitched their innovation on Shark Tank. They want $100,000 in return for a 33% stake in their business. Did the entrepreneur get a deal on Shark Tank? Check out our ARKEG update to find out!
ARKEG Net Worth 2024
Dan Grimm and Brant Myers asked for a $100,000 investment in exchange for 33% equity in their company, ARKEG. This meant they valued their company at approximately $303,030. They did not make a deal with any of the sharks. After the show aired, ARKEG did not see a significant increase in sales or growth, and the business was eventually sold in 2015 for $11,500. With no substantial growth or market developments since the current net worth of ARKEG in 2024 remains around $11,500.
ARKEG Shark Tank Update
As for an ARKEG update, ARKEG’s success was not lasting after their Shark Tank debut. Sales didn’t pick up after a little initial attention, and in May 2015, Dan and Brant sold the business. ARKEG was eventually sold for $11,500, a far lower price than they were expecting.
You may still buy ARKEG on platforms like Uncrate, even though the founders are no longer taking part. It’s unclear, though, if the product has really succeeded under the new proprietors, and as of right now, it appears to be largely an unknown creation.
There have been no significant developments about ARKEG’s performance as of today, and it doesn’t appear that the product has had any notable development or expansion.
No, Shark Tank did not result in a deal for ARKEG. The founders offered 33% equity for $100,000, but none of the sharks will make the investment.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Robert Herjavec | Out | N/A | N/A |
| Lori Greiner | Out | N/A | N/A |
| Kevin O’Leary | Out | N/A | N/A |
| Daymond John | Out | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
ARKEG Shark Tank Pitch
Long-time friends Dan Grimm and Brant Myers enjoyed the idea of combining two party staples, arcade games, and fresh beer, and that’s how they came up with the concept for ARKEG. It looked like a win-win situation to sell chilled beer and have an enjoyable gaming experience. They thought parties, man caves, and home bars would be the ideal settings for this hybrid product.
It wasn’t simply to make the idea a reality, though. They had to invest a lot of money to build such a unique product, and their poor sales and high production costs made it difficult for them to expand the company. They were enthusiastic and driven, but they had trouble finding a market for their product that was big enough.
Dan and Brant pitched ARKEG as the ultimate entertainment product, an arcade cabinet that functioned as a kegerator during their Shark Tank pitch. They provided a delightful demonstration, including serving beverages for the sharks, and described how the product operated. At $4,000, ARKEG was a pricey device, but only 20 units had been sold in two years despite its fascinating foundation.
The inventors hoped the investment would help them sell and grow their product, therefore they requested $100,000 in exchange for 33% stock. But the pitch didn’t go as expected, and the sharks weren’t convinced. Keep reading our ARKEG update to see what happens next!
The shark showed little interest in the product from the start. Because the products looked very impractical and sales were very low.
Robert Herjavec asked about the retail price of the product. The founders replied they would sell it for $4000.
Kevin questioned the number of units they had sold. The founders replied that they had sold only 20 units in two years. The sharks were shocked to learn that.
Daymond John called arcade cabinets “dinosaurs” in the modern market. He was initially dubious and thought they were out of date.
Lori Greiner did not see ARKEG’s future and believed it to be a gimmick.
Mark Cuban believed the product was out of date. He quickly rejected it and made no offer.
Kevin O’Leary was out because he didn’t think ARKEG was a potential company, even though he liked the wine they served.
Lori Greiner referred to the product as a “gimmick” and stated she couldn’t imagine buying the goods.
Robert Herjavec said he was hesitant to spend because of the lack of sales over the previous two years.
Daymond John didn’t make a deal either since they felt arcade cabinets were out of style.
What Went Wrong With ARKEG On Shark Tank?
The sharks had multiple fears about ARKEG. First, the two years of poor sales were a serious warning sign. Selling merely 20 units showed the product wasn’t in high demand. The sharks also believed that most consumers preferred to play games on their phones and tablets, making arcade cabinets less and less popular. The product’s potential market was further restricted by perceptions that it was pricey and specialized. The sharks found it difficult to justify an investment because of these issues.
Product Availability
From our ARKEG research update, even though Dan and Brant sold the company in 2015, ARKEG is still for sale. Although the product is available on platforms such as Uncrate, it is unclear if it has become significantly more profitable or popular since then. At about $4,000, ARKEG is still a unique but specialized product that is best suited for people looking for a single machine that combines arcade gaming with pleasant activities like drinking beer.
Conclusion
Although ARKEG’s time on Shark Tank was exciting, it didn’t result in a deal. The sharks didn’t think there was a market for Dan and Brant’s arcade/kegerator combination despite their high expectations. The owners eventually sold the business in 2015 after they battled with slow sales. Even while ARKEG can still be bought, it’s still a niche product with little evidence of taking up.
Despite the product’s failure to achieve the founders’ expectations, their story highlights the difficulties in developing something new and competing in a competitive market. The future of ARKEG is still unknown for the time being, but who knows? It might still recover with the correct customer.
Hey, I’m Amna Habib an undergraduate student of Bachelors in Business Administration. Shark Tank is one of my favorite TV shows of all time. The show provides a fascinating insight into the world of entrepreneurship by presenting creative solutions to common problems, which strongly connects to my academic interests. I’m interested in learning more about the strategic thinking and creativity that lead these companies as each pitch provides insightful information. I’ve found that watching Shark Tank has inspired my enthusiasm for business and entrepreneurship and has been a very enlightening and motivating experience. Apart from business and writing, I love food, shopping, and hanging out with friends and family. Read more About me.
