ValPark Mobile Shark Tank Update

Wayne Johnson plans to raise a financial investment for ValPark Mobile, his parking payment software, when he appears on Shark Tank episode 703.

Johnson, who lives in the Washington, DC area, developed the app in 2012 to assist users with finding parking in the area.

ValPark allows customers to search, book, and pay for parking from the convenience of their mobile devices.

ValPark makes it simple to locate parking at a restaurant or nightclub, whether garage parking or valet parking.

There are hundreds of venues listed on the website in the greater Washington, DC area. Your phone can also be used to request a vehicle when you use valet parking.

Johnson is likely looking to expand his business outside Washington, DC, to other metropolitan areas. Will a Shark recognize the potential of Valpark?

What Is ValPark Mobile?

ValPark Mobile was an app built for driving directions, paying, and managing valet services for vehicles parked at restaurants, garages, nightclubs, and hotels, among other places.

ValPark Valet is a smartphone app that streamlines the valet experience allows you to enjoy a more enjoyable night on the town.

There can be a lot of difficulties finding parking in a big city. Many lots only accept cash payments or have difficult-to-use terminals for credit card payments, making it even more difficult.

You can easily find parking at ValPark Valet and pay for it with the ValPark Valet app on your mobile device. 

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You do not need to enter your credit card information; rather, simply use your 4-digit PIN to complete the transaction.

Your phone will not have to be taken out of your pocket as long as it is connected to the device via Bluetooth. 

Your car will be waiting for you as soon as you arrive home when the app notifies the valet staff that it is time for you to return.

ValPark is presently supported at more than 100 locations in Washington, DC, Maryland, and Virginia, with additional places being added regularly.

Company NameValPark Mobile
EntrepreneurWayne Johnson
ProductValet and garage parking information and payment
Investment Asking For$300,000 for 20% equity in ValPark Mobile
Final DealNo Deal
SharkNo Shark
Episode Season 7 Episode 3
Business StatusOut Of Business
WebsiteVisit Website

Who Is The Founder Of ValPark Mobile?

Wayne Johnson, a highly regarded web designer, developed ValPark Mobile. He is pitching the concept of valet parking through his application and payment system to Shark Tank. 

ValPark Mobile defeats the problem of valet skimming at venues such as nightclubs, restaurants, sporting events, and hotels.

Johnson spent $100,000 of his own money to program and develop the ValPak Mobil system. He works with a business partner who runs the largest valet parking service on the East coast.

Wayne Johnson has always been an entrepreneur, and he came up with the idea for ValPark, which allows clients to book, search, and pay for parking from the convenience of their mobile device.

You may want to know how to park in a garage or valet area at a restaurant or bar; ValPark has made this simple.

Wayne’s app included a tie-in with parking locations to identify venues in the greater Washington area on their website.

I suppose you could order valet parking right from your phone as well.

Johnson desired to extend his firm beyond Washington, DC. Will a Shark believe in Valpark’s value proposition?

ValPark Mobile Before Shark Tank

Wayne Johnson will be making his debut in Shark Tank. Wayne is a multi-award-winning web designer based in Washington, D.C. You’re firing off a little too soon there, aren’t you, Wayne?

Wayne is asking for an investment of $300,000 in exchange for a 20 percent stake in his startup, ValPark Mobile.

ValPark Mobile is an app that allows users to pay for garage or valet parking through their smartphones in a quick, secure, simple, and convenient way. ValPark Mobile is available for both Android and iOS devices.

There are several times when you’ve pulled up to a valet and realized you don’t have any money with you. What happens after that?

You either drive about seeking a parking place that you may or may not find, or you go to an ATM, which is even worse.

How Was The Shark Tank Pitch Of ValPark Mobile?

Wayne appeared on the Shark Tank in requesting an investment of $300,000 in exchange for a 20 percent stake in ValPark. 

He explains his story while demonstrating how convenient the software is through a video.

ValPark is presently available in 115 different locations. Wayne has a business partner who owns many parking firms; this business partner owns 48 percent of the company; Wayne has invested $100,000 into the company.

The previous year’s revenues were $270K. ValPark makes its money by charging consumers an 8.5 percent convenience fee on top of their purchase.

The new income model requires that each venue pay $49 each month, including a convenience fee of 15 percent, a credit card cost split with the venue, and a 15 percent convenience fee. The Sharks begin to circle about almost immediately.

Mark is interested in learning how to grow his company. Kevin is interested in learning how a restaurant with 250 automobiles per night that pays CA$H for parking would assess the worth of the app.

Lori inquires about how it works, and he demonstrates how to make a profile.

at 115 different locations

Mark is interested in knowing how much money you can make – he does not believe you can make enough money to make ValPark desirable to an investor.

ValPark is compared to UBER; though UBER has raised billions of dollars and has a great volume, ValPark does not.

Troy made an early investment in UBER and believed that the parking industry is undersupplied in available real estate.

Troy announces as he walks out the door that a third kid will be waiting in the garage, “waiting for your food.”

Mark believes Wayne will not be able to scale it, and as a result, he is not in.

Kevin does not believe in world dominance, and he has withdrawn from the race. In addition, Lori is not willing to accept 30 percent if Wayne has a partner, which is exactly what she requires; she claims she is stepping down because it is the wrong thing to do.

Daymond likes it and inquires if Mark or Troy will accompany him, but they decline because Daymond is also out.

AS A RESULT, THERE WAS NO DEAL.

What Happened To ValPark Mobile After Shark Tank?

Troy’s estimate of 115 outlets during his Shark Tank appearance was not all that different from the number of outlets listed on the company’s website.

Despite this, the application enjoyed an overwhelming response on the iTunes App Store, which Apple will call the App Store. It received a 4-star review from 16 customers there.

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The only significant flaw I discovered during my application investigation is that it does not yet have an Android version.

Troy has a great idea, but I think he’s doing his firm a disservice by not implementing it across all platforms. 

Troy has a great idea, but I think he’s doing his firm a disservice by not implementing it across all platforms.

ValPark Mobile Shark Tank Update

ValPark Mobile App’s social media platforms were deactivated in May 2016. The website has been offline since 2021, and the app has been removed from the App Store.

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Wayne closed the business in May of this year, based on his LinkedIn profile. He is now the co-owner of three bars and nightclubs in Washington, DC, and describes himself as a “hospitality entrepreneur.”

Is ValPark Mobile Still In Business?

The ValPark Mobile App website and mobile app are no longer functional or available in the app store. In 2016, the company could not see the end of the road, and the company was forced to shut down.

ValPark generated revenue by charging end-users an 8.5 percent convenience fee on top of their parking fees. 

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An additional 15 percent convenience fee was added to the new model, shared between the credit card cost and the venue. Prices for each location are $49. The cost of each venue every month is $49.

However, Wayne only made $270,000 in the first year of the business, and the company did not prosper after that and is now out of business.

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