ValPark Net Worth 2021

ValPark is an app that makes parking easier and simpler. Using your phone, you can find garages and valets in your area and book their services. The convenience fee is split between your credit card and the venue.

ValPark is owned by Hummingbird Investments. Their assets include Atlantic Plaza, Midland Centre, Shops of Arima, and Maraval Plaza. They also own Valpark Shopping Plaza. Ricky Gutierrez is an American entrepreneur. He started his own clothing brand at age 20. In 2013, ValPark launched on iTunes. It has been downloaded 5,000 times a month.

ValPark has been featured on Shark Tank America, where Troy Carter sat as a guest shark. He was more apprehensive than anyone else in the room. However, he explains that tech is copycat market right now.

The app charges a convenience fee of 15%. When the car is requested, the driver receives an alert and is able to call for car service when they get to the payment tab. This eliminates the need to drive to the ATM.

ValPark’s initial revenue model is based on the convenience fee. ValPark charges a customer $49 a month for the convenience. The convenience fee is a separate charge from the parking fee.

According to the website, the company has over 115 locations in the Washington, D.C. and Virginia metropolitan areas. Last year, ValPark made $270K in sales. But, it’s hard to say whether it will survive. On the show, Wayne Johnson asked for $300K for a 20% share of the company. During the pitch, he claimed that he was looking to expand the business into other cities.

Several other businesses, including a bar and nightclub, are run by Wayne Johnson. He also has a partner who owns several parking firms. So, he has plenty of experience in the industry. At the beginning, he invested $100,000 into the business.

ValPark is looking for funding from venture capital tech investors. Kevin O’Leary is skeptical about the value of the app. Mark Cuban wants to know how big it can scale. And, he asks how a restaurant with 250 cars a night would perceive the value of an app like this.

Ultimately, Troy Carter is skeptical of the app’s potential to make money. “I don’t think it can do enough to be a real business,” he says. Despite his doubts, he is interested in ValPark.

ValPark is available on Apple and Android devices, and customers can search for parking locations. The app makes the parking process simple and secure. Users can choose a location, request a vehicle, and pay for it all with their smartphone.

ValPark is currently located in the tri-state area, but it is also available in cities across the country. As of 2016, the app has been downloaded over 5,000 times. Moreover, it is growing at a rapid rate. Many are calling it the Uber of parking. Hopefully, it will continue to grow and become more popular in the future.