Wispots Shark Tank Update
Wispots was a company providing interactive systems delivering Wi-Fi and ad services for areas where people are compelled to wait. The founder of this company was Kevin Flannery, who was a former marine. He appeared on Shark Tank to pitch his company and collect a staggering amount of investment.
But what is the Wispots Shark Tank update now? Kevin failed to secure any investment from the sharks. Eventually, the company got out of business, and Kevin switched to other businesses. We will give you a detailed Wispots update containing all the crucial information about the business.
Wispots Shark Tank Profile
Before knowing more about Wispots after Shark Tank, I would like to present a chart about the business profile of Wispots on Shark Tank. Check it out.
| Company Name | Wispots |
| Founder | Kevin Flannery |
| Founded | 2002 |
| Product | Interactive web tabs where people can participate in clinical surveys and surf the internet. |
| Asked For | $1.2M for 10% equity |
| Final Deal | No deal |
| Shark | None |
| Episode (Shark Tank USA) | S1 E1 |
| Air Date | August 9, 2009 |
| Business Status | Not In Business |
| Website | Not Available |
| Lifetime Worth (Sales) | Not Available |
| Get the product | Not Available |
| Watch On | Amazon Prime |
If you haven’t checked the above chart closely, you may ask, when was Wispots on Shark Tank? It appeared on the first episode of Shark Tank Season 1 on August 9, 2009.
Wispots Before Appearing on Shark Tank
As we have already mentioned, former marine Kevin Flannery was the founder and CEO of Wispots. He had over 20 years of experience in wireless technology. He founded the company Wispots in 2009 after six years of research and tests.
Kevin even took a debt of about $550,000 from his children’s school funding. The company didn’t do so well before appearing on the Shark Tank. Unfortunately, the situation was the same even after the Wispots Shark Tank episode. Let me tell you more about what happened in that episode.
Wispots Shark Tank Episode
Wispots appeared on the debut episode of Shark Tank. It was the first episode of the first season of Shark Tank USA, and Kevin was the third pitcher in that episode.
He asked for an investment of $1.2M in return for 10% equity in his company, Wispots. Sharks weren’t very impressed with his $12M valuation. But things got worse when they got to know about the debts of Kevin. After knowing the financial struggles Kevin was going through, the sharks were very frustrated.
Kevin O’Leary even compared his investment to dying troops who won’t bring any results. Kevin Harrington was more gentle, but he didn’t see the business as providing anything other than email access and advertisement.
Barbara was also gentle and praised Kevin’s courage. But Daymond John and Robert Herjavec were very critical. They told Kevin that he should get out of this business before he lost everything. Robert added that Kevin has crossed the fine line between believing in something and being foolish.
Finally, all the sharks got back one after another, and Kevin couldn’t secure any deal from the tank. He had to leave the show with only the unbiased advice the sharks gave him.
What Happened to Wispots After Shark Tank?
After Shark Tank, Kevin got calls from different businesses who were eager to market and distribute his product. Till then, Kevin started a new company called WiFiciency. This new company was working mainly with healthcare institutions. Among them, a company called Worthington Healthcare Corporation was eager to go into a merger.
Finally, Wispots merged with Worthington, and their venture was successful. Kevin mentioned this as going from being wealthy to having nothing and finding his way back.
After many rebrandings and name changes, Kevin decided to get out of the company. His LinkedIn profile says that he got out from Wispots in 2012, which means the business was shut down at that time. Kevin is now working as the CEO of another company called AivenGroup.
Wispots Net Worth
Within three years of his appearance on Shark Tank, Kevin was forced to leave the company. So, there is no concrete data available about the net worth of Wispots today.
But there are rumors that Kevin Flannery currently has an estimated net worth of $800K, which I couldn’t verify from trusted sources.
Wispots Sales Data
Just like the net worth data, no sales data of Wispots is available now because the company is out of business. After its shut down in 2012, the website of Wispots is also unavailable. So, I couldn’t find any sales data for the company.
Is Wispots Profitable Now?
Wispots couldn’t become profitable even after its appearance on Shark Tank. After Shark Tank, Kevin got some offers for a merger and had to transition into new companies. So, Wispots got out of business in 2012 without being profitable till that time.
As we continue to explore the world of innovative ventures on Shark Tank, let’s delve into the realm of unique fashion and customization with our Baubles and Soles Shark Tank update. Discover how this creative company is making waves in the fashion industry. Additionally, for those interested in sustainable and eco-friendly solutions, don’t miss our Sunflow Shark Tank update, where we uncover the latest developments in this eco-conscious venture.Final Words
Wispots wasn’t a potential business from the very beginning. During the pitch of Kevin Flannery on Shark Tank, sharks discouraged him from going further with this company and dropped the business. He seemed to take the advice from sharks and transitioned into new companies to save his investments.
The latest Wispots Shark Tank update is the company didn’t receive any investments in Shark Tank. After being a burden on Kevin’s shoulder for about ten years, Wispots got shut down, and Kevin moved on to new companies. That proves the credibility of visionary advice from the Sharks on Shark Tank.
