Validated was an application designed to address parking and travel expenses for city consumers. It assisted individuals in saving money when they purchased items from shops. This concept also aided stores in attracting customers again. The app was developed by Ian Lyman, Tov Arneson, and Alex Wilhelm. They requested $250,000 in return for 8% ownership of their business.
The application functioned in two locations Seattle and Portland. It collaborated with nearby shops and eateries. Customers would gain travel credits when they made purchases at these locations. Nevertheless, the sharks failed to recognize its potential. They thought of the application. Will the entrepreneur get a deal on Shark Tank? Check out the Validated update to find out!
Validated Net Worth Shark Tank Update 2025
Ian Lyman, Tov Arneson, and Alex Wilhelm asked for a $250k investment in exchange for 8% equity in their company. This meant they valued their company at $3.125 million. They did not secure a deal, leaving without an investment. After the show aired, Validated saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Validated is about $5.03 million.
Validated grew to multiple cities following its appearance on Shark Tank. It expanded its network beyond Seattle and Portland. Cities such as New York, Boston, Chicago, and San Francisco experienced the app in operation. Validated has also formed partnerships with Uber, Lyft, t, and Biketown. These features enhanced the app’s usefulness.
In May 2019 Validated was acquired by a company named Reach Now. Reach Now aimed to integrate the app’s reward system into its offerings. However one month post-sale Validated closed down. The application was not accessible on app stores anymore. Its voyage concluded.
No Validated did not get a deal on Shark Tank. Ian, Tov, and Alex asked for $250,000 in exchange for 8% of their company. The sharks thought the app was too complex. They doubted its ability to grow. Mark Cuban, Kevin O’Leary, and the other sharks all decided to pass. The founders left without a deal.
| Shark(s) Name | Offer & Demand | Counter Offer | Accepted? |
| Lori Greiner | Out | N/A | N/A |
| Chris Sacca | Out | N/A | N/A |
| Kevin O’Leary | Out | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
| Barbara Corcoran | Out | N/A | N/A |
Validated Shark Tank pitch
Ian, Tov, and Alex enjoyed tackling challenges. They observed a frequent problem with urban shopping. A lot of individuals steered clear of shops due to expenses related to parking or travel. These additional expenses made shopping less enjoyable. They aimed to resolve this issue.
The concept of Validated stemmed from their personal experiences. They believed that shoppers ought to be rewarded for making purchases. They thought that shops would gain advantages from this as well. The application served as their answer. It incentivized customers and generated increased traffic to shops.
Initially, they encountered numerous difficulties. Creating an app was challenging. They required financing to employ developers. They also required stores to collaborate with them. Persuading shops to participate was difficult. Several companies were uncertain about the concept. However,r Ian, Tov, and Alex continued to put in a lot of effort. They had faith in the worth of their app.
Ian, Tov, and Alex stepped into Shark Tank with assurance. They clarified Validated the sharks. They demonstrated how the application operated. Customers acquired credits by making purchases at affiliated stores. These credits assisted with parking or transportation. The application sought to simplify urban shopping experiences.
The creators requested $250,000. In exchange, they proposed 8% of their business. They intended to utilize the funds to expand their network. They also aimed to enhance the application. Their aim was to connect with more cities and users.
The sharks inquired about the application. They were curious about how it functioned and its possibilities. The founders did their utmost to respond. They provided explanations of the technical aspects. However, the sharks remained unconvinced. They believed the app was overly complicated for users.
The sharks posed numerous inquiries. Lori Greiner appreciated the concept of backing retail establishments. However, she inquired about the amount customers had to spend to receive rewards. The creators clarified that the shops determine the expenditure limit.
Barbara Corcoran was curious about the reason for the app’s necessity. She believed that parking fees were not a major concern. Ian, Tov, and Alex contended that parking and transportation were significant expenses for customers.
Chris Sacca inquired about the sales. The founders revealed that they collaborated with 50 merchants. These vendors were located in two cities Seattle and Portland. Every shop had approximately 25 validations.
Mark Cuban concentrated on the tech. He was interested in how retailers utilized the app. The creators clarified the QR code system. Shops scan codes to confirm transactions.
Kevin O’Leary and Chris Sacca found the procedure to be complex. Kevin even referred to the app as a “dog” and anticipated its failure.
The sharks listened to the pitch but were not impressed. Mark Cuban was the first to go out. He thought the app’s system was too hard to scale. Barbara Corcoran said she didn’t see enough demand for the app. She decided it was not worth her investment. Kevin O’Leary had strong opinions. He said the business would fail quickly. He called the app unnecessary and bowed out. Chris Sacca had the same concern as Mark.
He found the process too complex. He believed users would find it hard to understand. Lori Greiner liked the idea of helping stores. However, she felt the app would not have wide adoption. She also exited. In the end, none of the sharks made an offer. The founders left without a deal.
What Went Wrong With Validated On Shark Tank?
The complexity of the app was a significant problem. The sharks struggled to comprehend how it would draw in users. They believed that the method of earning credits was overly complicated. Another issue was a lack of data. Validated possessed merely two cities within its network. The sharks believed this was too minor to demonstrate promise. The founders were unable to persuade the sharks about the app’s worth. A few of the sharks thought that parking fees were not a major issue for the majority of shoppers.
Product Availability
Validated was an innovative app. It rewarded shoppers with travel credits. Users earned these credits by spending money at partner stores. The app was simple to use. Shoppers scanned QR codes to track their spending. The app operated in cities like Seattle, Portland, New York and Chicago. It partnered with transportation services like Uber and Lyft. These partnerships made the app attractive to users.
Before shutting down the app was available on the Apple App Store and Google Play Store. It allowed users to save money on parking and rides.
Conclusion
Validated had a promising idea. It solved a real problem for city shoppers. The app appeared on Shark Tank but did not secure a deal. After the show, it expanded to many cities. It gained partnerships with big companies. However, after being sold to Reach Now the app shut down.
Hey there, I’m Fatima Muhammad, an International Relations student, with a focus on the strategic dynamics of global relations, One of my favorite shows is Shark Tank. I love it because it showcases the creativity, determination, and strategic thinking of entrepreneurs, which I find inspiring. The show also teaches valuable lessons about innovation, business dynamics, and the importance of perseverance in the face of challenges. Read more About me.
