What Is Bravo Tipping App?
With the help of Bravo, a cashless transaction platform, valet attendants, athletes, chefs, buskers, comedians, musicians, or yoga instructors may create a store where their clients can tip them or pay them directly. Users are not forced to submit any private data.
Finding artists, valets, and other service providers are made simple by Bravo. By purchasing experiences like meet-and-greets, pre-concert passes, limited edition, and backstage things, you can support your favorite performers as a fan.
In Phoenix, Arizona, Maria Luna and Hector Rodriquez founded the band Bravo. They believe there are two ways to make money: by charging transaction fees associated with each payment and by offering a machine learning function that could be marketed separately to shops based on expected use and spending habits.
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To make payments to other people, you can search for them by name or location. For instance, performers might have a Bravo name where fans can leave tips.
Who Is the Founder of The Bravo Tipping App?
Maria Luna and Hector Rodriquez started Bravo in Phoenix, Arizona. The husband and wife team developed the idea in 2013 as a result of their inability to tip their trekking guide.
Hector is a gastroenterologist, hence the pair’s other businesses are all related to medicine. They regarded their challenge as a chance to launch a technology company. You can tip and/or payment service providers who also use the Bravo app through the app. Users can view local providers thanks to a GPS feature.
Anyone, from a waiter at a restaurant to a tour guide, may use the program. No personal information is shared; instead, each user and service provider provides the app with their banking details in order to pay or be reimbursed.
Customers use a credit card or debit card to pay, while suppliers receive payment directly into their bank account. Money is sent in 1 to 3 days. It is simple to use and makes carrying cash unnecessarily. Bravo can be used without cost. By adding a 2 percent fee to each transaction, they make money.
What Happened to Bravo Tipping App at Shark Tank Pitch?
Dr. Hector Rodriguez and Maria Luna attempt to hoodwink the Sharks in episode 914 by proposing Bravo, their software that enables tipping service providers using a smartphone. In order to scale their products, they need a shark.
Hector and Maria ask for $150,000 for a 5% ownership in their $3 million company when they make their pitch on Shark Tank. They present their business and tell their story, then the Sharks ask a question. Maria must clarify that both parties must have the app in order to tip and that they send sales materials to service providers.
According to the company, 25% of service providers in Arizona utilize the app. The benefit is that it is safer than PayPal or Venmo. The company has handled $1 million in business in the three years since its founding. The person tipping is responsible for the 2 percent processing fee.
As Maria starts explaining how the software aggregates data, Barbara stands up and expresses her uncertainty. The first Shark to leave is Barbara. Kevin leaves since he thinks they’ll need far more cash than they’re asking for. Alex has also opted out, agreeing that it’s too challenging. Mark and Lori have decided to offer $150,000 for 15% of the company’s stock. In response, Maria offers $150,000 in exchange for 10% stock and 2% advisory shares.
Mark promises to comply if Lori and he both earn 2% of the advisory shares. Maria and Hector give it some thought, decide to take the bargain, and leave the pitch with two Sharks’ money.
What Happened to Bravo Tipping App After Shark Tank?
Since their Shark Tank episode, in which the two left with an agreement, the deal between Mark and Lori has never been finalized. The business started taking cryptocurrency payments in 2019. Geofencing advertising is another thing Bravo is experimenting with.
A location-based marketing technique called geofencing enables businesses to interact with smartphone users in a certain area by using mobile websites or mobile apps. A location-based application called Geofencing uses a number of different technologies, including Bluetooth, GPS, Wi-Fi, and radio-frequency identification (RFID)
As of January 2022, the company was still in existence and generated $2 million in annual revenue.
Net Worth of Bravo Tipping App
The company was valued at $3 million at the pitch, but it is still operating as of January 2022 with an annual income of $2 million, therefore its net worth has increased.
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