Kevin Flannery told the sharks that he was seeking $1.2 million dollars in exchange for just 10% equity in his company, Wispots. The sharks were already fairly concerned about the valuation that Kevin had placed on Wispots, but they were willing to listen. Let’s see whether or not he was able to secure a deal before we give you a Wispots update from Season 1.
Shark Tank Wispots Update
- Entrepreneurs: Kevin Flannery
- Business: Wireless Entertainment Systems
- Ask: $1,200,000 for 10% equity
- Result: No deal
- Sharks: None
Kevin Flannery told the sharks that his wireless entertainment system could be placed in locations where customers are forced to wait. This could be waiting rooms at a doctor’s office or in retail store locations near the checkout area. With a variety of entertainment features, Kevin Flannery believed his company was worth the investment.
After hearing about the enormous amount of debt that Kevin Flannery had taken out from his home and his kids’ college funds, the sharks couldn’t find it within themselves to invest. Robert Herjavec almost considered the idea, but even he had to drop out in addition to the remaining sharks. There simply were too many risks for the sharks to justify an investment of $1.2 million dollars.
With that being said, Kevin Flannery would leave
After struggling with various name changes, rebrandings, and company concepts, Kevin Flannery finally decided to pull the plug on his company and transition to something different. The sharks had initially provided feedback to end his company as soon as possible to save whatever money remained, but Kevin remained persistent. Unfortunately, his company was forced to close after failing to reach a meaningful level of success.
So, it looks like this will be our final Wispots update.
You can find the other company updates from Season 1 here:
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