Vengo Shark Tank Update

Vengo Shark Tank Pitch

Brian Shimmerlik and Steven Bofill appeared on Shark Tank Season 7, Episode 22, which aired on March 18, 2016, with touch screen mini wall-mounted vending machines .

Vengo is listed in the Accessories Gadgets category. In plain terms, the business is described as touch screen mini wall-mounted vending machines .

Vengo asked the Sharks for $2,000,000 for 12.5%, implying a valuation of about $16 million.

On the show, Vengo made a listed deal with Kevin O'Leary and Lori Greiner for $2 million for 3% to be repaid over 36 months at 7% interest.

If treated as straight equity, the listed deal works out to about $66.7 million implied valuation, up from the original $16 million implied valuation.

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

Vengo After Shark Tank

Vengo accepted an on-air Shark Tank deal for $2 million in venture debt, but follow-up reporting in the site data treats the on-air Shark deal as not closed. (TechCrunch Vengo funding coverage

The company continued raising capital after the show; TechCrunch reported a $7 million equity round in January 2019 led by Arcade Beauty. (TechCrunch Vengo funding coverage

Vengo Labs announced the same Series B round as funding to scale its digital vending and out-of-home retail media network. (Vengo Labs Series B announcement

TechCrunch reported that Vengo ranked No. 620 on the Inc. 5000 based on 2017 revenue of $3 million and three-year growth of 807%. (TechCrunch Vengo funding coverage

The post-show business evolved around wall-mounted mini vending machines, cashless payments, cloud inventory monitoring, sampling, and advertising rather than a traditional vending-machine route model. (TechCrunch Vengo funding coverage

Sources

Sources used for this page: Shark Tank API pitches