Parking has always been a hassle, especially in busy cities. Whether it’s looking for a parking spot, waiting for valet services, or figuring out payments, the process can be frustrating and time-consuming. This is where Wayne Johnson’s idea for ValPark Mobile came in. Wayne wanted to simplify valet parking with a mobile app that lets users book and pay for valet services right from their phones.
In Shark Tank Season 7, Wayne introduced ValPark Mobile and asked for $300,000 in exchange for 20% equity in his business. The app was already active in 115 locations, generating $270,000 in sales the year before filming. With a great pitch, Wayne aimed to revolutionize parking, but the Sharks had their doubts. Did the entrepreneur get a deal on Shark Tank? Check out our ValPark Mobile update to find out!
ValPark Mobile Net Worth Shark Tank Update 2025
Wayne Johnson asked for a $300k investment in exchange for 20% equity in his company. This meant he valued his company at $1.5 million. Unfortunately, he did not secure a deal with the Sharks. After the show aired, ValPark Mobile saw a big increase in website traffic, sales, and social media exposure. However, the company ceased operations in 2015, and its net worth remains at $0. Despite this, Wayne Johnson has successfully transitioned to other ventures, showcasing his entrepreneurial resilience.
Unfortunately, ValPark Mobile didn’t succeed after its appearance on Shark Tank. Wayne couldn’t secure a deal with the Sharks, and the business struggled to grow. By 2015, the company had ceased operations.
Wayne didn’t let this setback stop him. He shifted his focus to a new venture and now owns several bars and nightclubs in the Washington, D.C., area. Despite ValPark Mobile’s closure, Wayne’s entrepreneurial spirit remains strong, and he has found success in other industries.
No, ValPark Mobile did not secure a deal on Shark Tank. While Wayne presented a solid pitch and had impressive sales, the Sharks weren’t convinced about the scalability and value of the business. Here’s a breakdown of the Sharks’ decisions:
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Troy Carter | 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 |
ValPark Mobile Shark Tank pitch
Wayne Johnson created ValPark Mobile to solve a common problem in cities: the inconvenience of valet parking. He noticed how frustrating it was for people to pay cash or wait for receipts and wanted to create a solution. Partnering with a parking company owner, Wayne developed an app that streamlined valet bookings and payments, making the process faster and more user-friendly.
While building the app, Wayne faced challenges like entering a traditional industry resistant to change and competing with larger parking services. Despite these hurdles, he managed to gain partnerships with over 100 locations, showing the potential of his idea.
Wayne’s pitch focused on how ValPark Mobile could transform the valet industry. He demonstrated how users could quickly book and pay through the app, eliminating the need for cash or long waits. At the time of the pitch, ValPark Mobile had already partnered with 115 locations and generated $270,000 in sales in the past year.
He sought $300,000 for 20% equity, explaining that the funds would be used to expand the app’s reach and improve its technology. Wayne highlighted his partnership with a parking company owner who held 46% equity in the business, providing valuable industry insight. Keep reading our ValPark Mobile update to see what happens next!
Mark Cuban: How will you scale this app? Wayne explained that expanding partnerships with more venues and parking companies would drive growth.
Kevin O’Leary: How will this app break into the competitive parking market? Wayne shared that the app’s convenience and consumer-friendly model set it apart.
Troy Carter: Is there enough demand for this app to thrive? Wayne emphasized the large number of urban drivers who use valet services regularly.
Troy Carter: Went out first, saying the parking market wasn’t big enough to justify investing.
Mark Cuban: Loved the concept but doubted the scalability of the business. He decided to pass.
Kevin O’Leary: Didn’t see the potential for the app to dominate the market and opted out.
Lori Greiner: Liked the idea but felt she needed a 30% equity stake to make it worthwhile, so she went out.
Daymond John: Wanted to invest but only if Troy or Mark joined him. When they refused, he also bowed out.
Ultimately, Wayne left without a deal.
What Went Wrong With ValPark Mobile On Shark Tank?
ValPark Mobile faced several challenges on Shark Tank. The Sharks doubted whether the app could grow in a crowded market. Wayne’s partner owned 46% of the company, leaving limited room for investors. Some Sharks felt the parking market wasn’t large or profitable enough for investment.
Product Availability
Since ValPark Mobile is no longer in operation, the app is not available for download or use. The business officially closed in 2015.
Conclusion
ValPark Mobile aimed to revolutionize valet parking but faced challenges that prevented it from succeeding. While Wayne didn’t secure a deal on Shark Tank or keep the company running, his entrepreneurial journey didn’t end there. He now owns successful bars and nightclubs, showing that setbacks can lead to new opportunities.
Although ValPark Mobile didn’t achieve its goals, it highlighted the need for innovation in traditional industries. Wayne’s story reminds us that entrepreneurship is about resilience and adaptability, even when faced with failure.
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.
