ChessUp Shark Tank Update

ChessUp Shark Tank Pitch

Adam Roush and Jeff Wign appeared on Shark Tank Season 14, Episode 9, which aired on December 9, 2022, with ChessUp is a companion app for the ChessUp smart chessboard. The app provides chess game archives and analysis. The app can link with the chessboard over BLE to provide live Ai assistance..

ChessUp is listed in the Software Tech category. In plain terms, the business is described as ChessUp is a companion app for the ChessUp smart chessboard. The app provides chess game archives and analysis. The app can link with the chessboard over BLE to provide live Ai assistance..

ChessUp asked the Sharks for $300,000 for 5%, implying a valuation of about $6 million.

On the show, ChessUp made a listed deal with Lori Greiner for $300,000 for 5% + 3% royalty investment is covered.

If treated as straight equity, the listed deal works out to about $6 million implied valuation, roughly the same implied valuation as the ask.

This pitch is included as context for the more important question: what happened after Shark Tank.

ChessUp After Shark Tank

ChessUp accepted an on-air Shark Tank deal for $300,000 for 5% + 3% royalty investment is covered, and later update coverage says the deal closed. (ChessUp Shark Tank Update

The company reduced the price of its boards from $399 to $299. (ChessUp Shark Tank Update

Later public revenue details remain limited. (ChessUp Shark Tank Update

(ChessUp Shark Tank Update

ChessUp remains active online through playchessup.com, where customers can find the current product line. (ChessUp website

Sources

Sources used for this page: Shark Tank API pitches