ValPark entered the Shark Tank on October 9th. Heavy interviewed founder Wayne Johnson about his app that enables users to valet or park in garages without having to pay cash. Here is what he told us about…
To read all of Heavy’s Shark Tank coverage, click here.
How the Idea Came About
My friends and I go out into the city often and typically pay to park in a lot or valet. We noticed the majority of the operations only accepted cash. It was frustrating. In this day in age we all carried very little cash. After doing some research, I found out most people carry less and less cash as apps and credit card prevail. In addition, I found out that parking operations being mainly cash, lefta high rate of theft and unaccountability. I thought, ‘Why not have an app that could used a saved profile and credit information to pay at all parking operations, garages and valet?’
What the Venues Who Use It Say
The venues love it. It provides a safer and more convenient transaction outside, which they really appreciate. In addition, the “Request Your Vehicle” function is popular at restaurants as patrons close out their bill they also use our app to have their cars waiting outside. The parking vendors love it as well as they’ve seen a reduction in revenue losses to theft.
Being Nervous in the ‘Tank’ & How His Appearance Came About
I was for sure. I think most people would be. You’re in front of five very successful venture capitalists some of whom aren’t the most pleasant. You also know that it will air on national TV. There’s a lot to think about in addition to getting your pitch right…Shark Tank is one of my favorite shows, so it was a natural move to send them information on our company. ValPark seemed like a good fit given it’s been self-funded thus far and has gained traction at over 100 locations.