Validated

validatedIan Lyman, Tov Arneson, and Alex Wilhelm hope the Shark validate Validated, their app that lets users rack up credits for parking and transportation, in Shark Tank episode 823. The app takes the concept of retailers validating parking beyond parking. By spending at participating retailers, users accumulate points they can use to offset the cost of Uber or Lyft rides as well as parking.

The basic idea is people want to save money on parking and transportation and merchants want to increase customer loyalty and sales. Validated originally started as a parking app, but the founders pivoted when it became clear others were going to dominate the space.

Using it is simple. First, find merchants who participate, hit spending targets at those merchants, scan receipts to verify purchases, then use accumulated credits for participating transportation companies. It costs users nothing. Participating merchants foot the bill by “participating in the transportation ecosystem.”

This business needs capital to scale quickly. Will a Shark validate this business and invest?

Validated Shark Tank Recap

Ian, Tov, and Alex will pitch the panel of five Sharks on the business and its prospects for growth. They’ll need to convince Mark Cuban, Barbara Corcoran, Kevin O’Leary, Lori Grenier, and Chris Sacca that the company is worthy of a Shark investment. A good business plan, good financials, and sales data will impress the Sharks, but they’ll need to show them THEY are capable of running the company to “Shark standards.” A full pitch re-cap on Validated will be available on Shark Tank Blog once this episode airs.

Validated Shark Tank Update

The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Once an episode has aired, we monitor the progress of the businesses featured, whether they receive funding or not and report on their progress. The Shark Tank Blog will follow-up on Validated & Ian Lyman, Tov Arneson, and Alex Wilhelm as more details become available.

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