VPcabs Shark Tank Update – Net Worth 2024

In Season 7, Episode 28, a pinball enthusiast, Brad Baker, presents his product VPcabs. His product provides the ultimate retro pinball games in the virtual form, bringing back nostalgic vibes. He asks for $200,000 for 10% equity in his company. But will Sharks invest in the virtual retro pinball machine? Read to find out.

VPcabs Net Worth

Brad Baker asked for a $200,000 investment in exchange for 10% equity in his company. This meant he valued his company at $2 million. He made a deal with Daymond John for $200,000 in exchange for 25% of his company. This new deal valued his company at $800,000. After the show aired, VPcabs 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 VPcabs is about $1.87 million.

VPcabs Shark Tank Update

What Happened to VPcabs After Shark Tank?

After Shark Tank, the VPcab’s popularity was boosted. Snap-on, a tool company, signed the first agreement with them to get the pinball cabinets for promotional reasons—another contract Bakers signed with Impractical Jokers, a TV reality show.

The company grew a lot and made many profitable contracts. As per Bakers, the company sells 300 to 500 units per year. It has become one of Daymond John’s best revenue-generating deals in 2017.

Did VPcabs get a deal at Shark Tank?

Yes, the VPcabs Virtual Pinball did get the deal. Initially, Sharks were resistant to the virtual pinball machines concepts but as they understood the theme, they opened up with their queries. 4 out of 5 Sharks disagreed to invest in the company, which turned out to be a great investment. Read to find the insights.

Shark(s) name	Offer	Demand	Counteroffer	Accepted?
Daymond John	$200,000	10% of equity stake	$200,000 for 20% of equity stake	Yes (with 25% equity)
Lori Greiner	Out	N/A	N/A	N/A
Kevin O’Leary	Out	N/A	N/A	N/A
Robert Herjavc	Out	N/A	N/A	N/A
Mark Cuban	Out	N/A	N/A	N/A

Founders & Backstory

Brad has worked in the audio and video industry for the last 15 years. His brother owns an arcade with an old, isolated pinball cabin. He inquired about his knowledge of the new pinball technology. Brad agreed with him.

They both worked on it together to revamp the machines. Both spent hours working on it. The people from the arcade liked the idea. Within a week, orders for machines started from 8 and they were able to save their house. With half a year, 200 units with $750,000.

Their Pitch and Offers

Brad presented his pitch with his introduction and then his product. VPcabs. Digitalization wiped out the original physical games like pinball. So this product recreates the original pinball games but in digital form. He paused for a moment of nervousness and then came back to explain the mechanics of the game.

An old-school retro-like machine with an HD screen and the same pinning ball sounds brings back memories from childhood. More than 100 games to choose from, along with the simulation effect, make it more easy to get the last ball. With easy feedback and a simple update system, players will get all the support they need. He closed the pitch and then invited Sharks to try the product.

Kevin began with his queries and inquired about his target marketplace. He wanted to know if the machines were for sale in the commercial marketplace. They were just made for the point of sales stores. Brad spoke about his backstory. Lori inquired about the cost per unit. Brad stated that the price varies from $ 3,000 to $950,000. He further explained that a retail price of $79.99 as their system is integrated costs a good price. Mark jumped in to inquire about the business’s profit.

Brad informed us that in 2014, the profit was $12,000, with a gross profit of $75,000. Robert then questioned the software cost. Brad informed me that they pay a specific license fee, which is 15% of the profit. Kevin then asked Brad about the money for himself, to which he replied with a no. Kevin exclaimed the business to be non-profitable as he isn’t even earning a salary himself yet.

Lori was the first Shark to step it to its lack of scope in kids and poor user experience. Next was Kevin, who didn’t find the business profitable, so he backed out, too. Then Robert stepped out because he thought the lack of software and commercial profitability was a big disadvantage of this product. Mark was the next one, as he also found the business quite vulnerable to investment.

The last Shark is Daymond. He offered $200,000 with 30%. After a few seconds, Brad responded with 20%. Daymond spoke his final deal of $200,000 with 25% and Brad accepted it. After the gentleman’s handshake, he left the stage.

Product Availability

In the beginning, the company was built in a garage. Later, he moved to a store in Fairfield, Ohio, in June 2018. Later, the company shifted to a larger facility with a bar and restaurant. The new location is in Hamilton, Ohio, and the space is now known as The Pinball Garage.

You can purchase these virtual pinball games from their website. There are a variety of pinball machines to choose from. So, the game will be available on Stream as well. These pinball machines can also be purchased from Amazon. You can join their social media channels on Facebook and Twitter.

Conclusion

Brad Baker from Ohio came to Shark Tank for an investment offer of $200,000 with 10% equity in his company. He rebuilds the vintage pinball machines into virtual simulation machines. HD screens, simulation actions, crispy audio, and over 100 games are a great choice for kids.

After a quick session of negotiation, Daymond John agreed on an offer of $200,000 with 25% shares. The deal has been sealed and VPcabs Virtual Pinball got their fame from the Shark Tank Season 7 Episode 28. The Bakers have proved their success to date.