We’ve all been there: an unfair parking ticket makes us angry and ruins our day. David Hegarty wants to help those who feel like the authorities are ‘sticking it to them’ with parking tickets. His app, Fixed, allows you to contest parking tickets. Their algorithm catches errors that might invalidate a ticket. What will the sharks think of David’s app in
Shark Tank Fixed Update
- Entrepreneur: David Hegarty
- Business: An app to help contest parking tickets
- Ask: $700,000 for 5% equity
- Result: $700,000 for 7% equity
- Shark: Mark Cuban
David began his pitch by discussing how parking tickets seem unfair, and there was very little you could do about them. He developed Fixed in response. Fixed used an algorithm to detect issues with your parking ticket, including incorrect information or blank spaces that should be filled in.
Any of these issues or inconsistencies could have invalidated your ticket. They handled everything, with a 35% fee based on the price of the ticket. According to David, they had a win rate of between 20% and 30%.
In the year of filming, Fixed had $80,000 in revenue. To drum up business, they had employees on the ground putting fliers on cars with speeding tickets. When the sharks asked, David explained that he wanted to expand to speeding tickets, moving citations, and full legal services.
It was time for the sharks to weigh in. Robert Herjavec didn’t think it could scale like David said, so he went out. Kevin O’Leary felt uncomfortable investing in a business that fights the government, so he went out, too.
Lori Greiner can’t put a physical value on the business, so she went out, too. Guest shark Chris Sacca followed – he thought car ownership was dying, so the company would lose value. On the other hand, Mark Cuban is interested.
Mark liked the idea of fighting parking tickets and sticking them back to the government. He said there were operational challenges, though. He offered $700,000 for 7% equity with a 2% advisory fee. David’s only stipulation was that he wanted to know that Mark would be available whenever he was needed, and Mark agreed. David took the deal! Find out where the company is now in our Fixed update.
Unfortunately, it’s terrible news for Fixed. During research for our Fixed update, we found that the deal with Mark Cuban never closed. The company was eventually blocked from use in certain municipalities such as Los Angeles and San Francisco.
In 2016, the company was purchased by a law firm. The website doesn’t appear to be operational any longer. This will be our final Fixed update.
Check up on the other products featured in Season 7 Episode 14! You can find our company updates below.
Curious about our other company and product updates? You can find them all on our Season 7 Products Page.