Games2U, a gaming company that provides mobile entertainment for birthday parties and other events, entered the Shark Tank in 2014. The company hoped to secure an investment of $600,000 in exchange for eight percent equity.
Founded in 2007 by Aaron Drane and Paul Burke, Games2U provided services such as video game theaters and laser tag arenas across the United States. In addition to providing fun activities at special events, they also offered virtual reality experiences and hosted corporate team building exercises.
Though their innovative approach created buzz around the business, it was their appearance on Shark Tank that catapulted them into stardom. However, after leaving the tank without reaching a deal with any of the investors, many questions remain about what has become of Games2U since then.
The Pitch In The Tank
Games2U, a provider of interactive fun through mobile gaming theaters and arcade-style games, made its pitch to the Sharks in 2012. However, despite their enthusiastic presentation and innovative marketing strategy, the company failed to secure an investment from any Shark.
The entrepreneurs behind Games2U asked for $250K in exchange for 10% equity with plans to expand their product diversification through franchising. The founders were confident that their product had mass appeal; however, Kevin O’Leary was unconvinced by the profitability of such a venture due to high overhead costs associated with maintaining game trucks and onsite staff.
Barbara Corcoran agreed that the business model would be difficult to scale up without further investments of capital. Lori Greiner felt it was a great idea but questioned how they could hire enough employees nationwide if they pursued franchising opportunities. Mark Cuban shared his concerns about whether or not people would pay for something as unique as this concept as well as worrying that there weren’t multiple income streams available yet.
With no sharks willing to take a chance on them, the team left empty handed. Despite their setback at Shark Tank, Games2U went on to continue operating successfully until 2019 when it closed its doors after eight years of providing smiles and memories across North America.
Following the appearance of Games2U on Shark Tank, the company has seen a significant increase in customer engagement. This growth is attributed to an increased awareness of the brand and its mission among gamers who share their passion for gaming culture. The popularity of Games2U’s mobile video game theater and laser tag services has enabled them to expand into new markets that are eager for entertainment options outside of traditional venues.
The company’s expansion plan consists of two main components:
Mobile Video Game Theater Services – Expansion into additional cities across North America with a focus on highly populated metropolitan areas such as New York City, Los Angeles, Dallas-Ft Worth and Chicago. In addition to this, they also aim to develop more creative experiences such as virtual reality games and eSports tournaments.
Laser Tag Services – Expansion beyond existing locations in Arizona, North Carolina and Texas by expanding into other states within the United States while still focusing primarily on providing unique services at special events like birthday parties or corporate functions.
Games2U’s ambitions have not gone unnoticed; since appearing on Shark Tank they have attracted investments from several venture capital firms which will help fuel their ongoing expansion plans. With these funds available, Games2U can now bring their innovative products and services to even more customers around the world looking for exciting entertainment options with friends and family.
Failed Negotiations With The Sharks
The negotiations between Games2U and the Sharks in the television show Shark Tank were ultimately unsuccessful.
When questioned, the Sharks criticized Games2U’s negotiation tactics, including their failure to offer an equity stake in the business.
Games2U’s owner, John Hunt, was open to negotiations, but the Sharks were not willing to make a deal.
Ultimately, the Sharks were not convinced of Games2U’s potential for success, leading to the failed negotiations.
When Games2U, a mobile video game truck company appeared on Shark Tank in 2009, they negotiated with the sharks to no avail. Their staffing and marketing tactics were simply not enough to attract the attention of the investors.
The business owners proposed selling a 25% stake for $250,000 but didn’t receive any offers from the Sharks. Robert Herjavec remarked that their “valuation was too high for what [they] had achieved at this point in time.’
Despite offering incentives such as free advertising or payment plans for franchisees it wasn’t enough to convince the Sharks to invest in them. As a result, Games2U failed to negotiate an agreement with any of the panelists which led to a lack of capital injection into their business model.
Without further investment, Games2U did not have adequate resources to expand its operations – leading to decreased profits and eventual closure of their business by 2014.
The Sharks’ reactions to Games2U’s offer were mixed. While some of the investors expressed concern about the business model and valuation, others thought there was potential for growth in such a competitive field as remote gaming.
Kevin O’Leary noted that he had seen success in similar businesses and felt it could be replicated with Games2U if they addressed their staffing issues. Mark Cuban shared his opinion that the company should focus more on marketing efforts to increase their visibility in the industry. He also suggested offering incentives like free advertising or payment plans for franchisees.
In spite of these insights from the panelists, none of them made an offer to invest in Games2U which resulted in a lack of capital injection into the business model. Without further investment, Games2U did not have adequate resources to expand its operations leading to decreased profits and eventual closure by 2014.
Growth Of The Company
Games2U, a mobile entertainment company that offers interactive experiences for events and parties, appeared on Shark Tank in 2014. Since then, the business has seen considerable growth.
As founder and CEO Aaron Rigby indicated during his pitch to the Sharks: “We’ve been profitable since our launch back in 2008 and have grown from $500k ARR to over 1 million two years ago’.
Indeed, Games2u has capitalized on emerging markets, both domestically and internationally with notable success. Customers have given positive feedback about their products –ranging from laser tag and bubble soccer to giant inflatables–throughout the United States as well as countries like Australia and Great Britain.
Moreover, they continually update their offerings by introducing new activities such as glow-in-the dark mini golf or Nerf wars. This focus on innovation through customer feedback has allowed Games2U to thrive in an ever changing industry landscape.
The company continues to expand its services while making sure it meets the expectations of customers worldwide. From corporate team building sessions to kids birthday celebrations, Games2U is certainly leading the way in providing unique entertainment solutions for all types of occasions.
Changes In Leadership
After appearing on Shark Tank in 2013, Games2U experienced a major shakeup in their leadership structure.
In the aftermath of the investment, new leadership was brought in to expand the company’s reach and focus on customer experience.
After the initial changes, the company continued to grow, but not at the same rate as they had before the investment.
Eventually, the company was shut down in 2017 due to an inability to attract sufficient customers and generate revenue.
The leadership of Games2U, a mobile game truck business that appeared on the hit reality show Shark Tank, underwent a dramatic shakeup following their appearance. Outdated strategies and poor visibility caused stagnation in growth for the company, leading to an overhaul at the top levels of management.
Facing criticism from former Sharks and customers alike, new executive positions were formed with fresh ideas and innovation in mind. These changes included appointing a new CEO as well as restructuring financials, marketing campaigns and employee compensation packages.
The reshuffling has allowed the brand to regain momentum within its community while striving towards greater success. As such, Games2U has once again become an industry leader in mobile gaming – setting a positive example for startups everywhere.
Aftermath Of Shark Tank Investment
Following the restructuring of leadership at Games2U, the company has seen a major shift in their interactive gaming model.
As part of this change, they have implemented new strategies and initiatives to expand upon their previous success on Shark Tank.
This includes leveraging a franchise-style business model that is more cost efficient while providing better customer experience.
With these changes in place, Games2U can now compete with some of the larger industry players and increase its market share.
The approach taken by management has also allowed for improved visibility both online and offline – helping them stay ahead of competitors in the ever-changing gaming landscape.
All told, it appears that after the investment from Shark Tank, Games2U is well positioned to become an even bigger player in mobile gaming moving forward.
Rebranding And Reorganization
Following the Shark Tank appearance, Games2U began a period of dramatic change. The company underwent significant rebranding and reorganization to increase profitability and sustain their business strategy for the future.
To this end, they adopted creative marketing tactics that diversified their offerings as well as expanded into new markets. This included offering more interactive activities such as bubble sports, video game theaters, ax-throwing lanes and other amusements suitable for all ages.
With an increased emphasis on safety regulations, they improved customer experience by providing better quality products in addition to creating unique packages tailored to individual needs. Moreover, they focused on building brand loyalty through promotional campaigns and digital media platforms such as Facebook, Twitter, YouTube and Instagram.
The approach proved successful since it allowed them to attract customers from different backgrounds while maintaining existing ones with discounts and giveaways. This enabled them to maximize profits over time despite facing stiff competition in the industry.
As a result, Games2U is currently one of the leading providers of mobile entertainment services worldwide.
Current Reach And Services
Games2U, the family entertainment provider founded by Jason and Bianca Estavillo in 2007, has since made substantial strides to extend its reach.
After failing to receive investment from the Sharks on Shark Tank in 2013, the company continued their efforts with innovative ideas and a focus on online presence.
The brand now provides services across multiple countries including Australia, Canada and South Africa.
Games2U is also established as one of North America’s leading providers for mobile laser tag, video game parties and party rentals.
The business continues to expand its virtual offerings such as virtual scavenger hunts and escape rooms that are designed for people ages 8-88 years old.
In addition to building an international presence over the last decade, Games2U has become known for providing a safe experience which includes full COVID safety protocols throughout all of their activities.
With exciting new services continuously being developed, prospects look bright for this family fun enterprise.
Expansion Into Esports
After appearing on Shark Tank, Games2U shifted their focus to esports culture and the gaming industry in general. With an eye towards promoting competitive play between gamers of all levels, they created a platform that offered tournaments, leagues, and other organized events. These events were designed to attract more people to the growing scene of professional gaming by providing players with opportunities to test their skills against others while also giving them access to exclusive content such as interviews with prominent figures in the industry.
In addition to these initiatives, Games2U continued to expand their offerings beyond traditional gaming by introducing new products like virtual reality headsets and specialized controllers. Through partnerships with leading game developers and publishers, they provided fans with even greater access to top-tier titles from some of the biggest names in entertainment.
This allowed for increased engagement among both casual players and professionals alike as everyone was able to partake in exciting competitions regardless of skill level or experience.
Games2U became one of the leaders in driving innovation within the space by offering unique experiences across multiple platforms. They sought out ways to make sure everyone had equal opportunity when it came down to competing at higher levels without sacrificing quality or enjoyment along the way.
As a result, what began as a small startup had grown into an international success story that continues today through its ever-growing presence in the world of esports culture and gaming industry.
After appearing on Shark Tank, Games2U saw an influx of expansion opportunities for its business model. The company was able to secure funding and explore new avenues including the Esports segment.
Esports is a rapidly growing online gaming industry that continues to gain traction in the global market. In order to capitalize on this opportunity, Games2U reconfigured their services to include mobile video game theaters, virtual reality experiences and laser tag arenas at different events. This provided additional revenue streams while helping them stay competitive in the increasingly crowded market.
The financial performance of Games2U post-Shark Tank proved impressive as they were able to increase their profit margins by utilizing alternative sources of funding options such as crowdfunding campaigns or venture capital investments. They also managed to successfully expand into other markets with their innovative offerings which resulted in increased customer engagement and return customers. Additionally, they implemented cost cutting measures which further reduced operational expenses and improved overall profitability.
The Future Of Games2u
The future of Games2U is one that remains unclear. After their appearance on Shark Tank, the company was unable to secure any investment from the sharks and never received the funds they were hoping for.
Despite this setback, the company strives to remain competitive in an increasingly crowded market by offering various pricing models and investing heavily in online marketing.
Since appearing on Shark Tank, Games2U has become a household name. The brand itself carries an air of prestige and excitement as it continues to search for new ways to bring value to its customers.
As a result, the company now offers more than just classic experiences like laser tag and bubble soccer; they offer virtual reality gaming parties, game truck rentals, party packages with activities designed specifically for children, and custom-designed experiences tailored to fit customer needs.
Games2U also attempts to stay ahead of competitors through innovative pricing models that make planning events easier than ever before. Their prices are extremely competitive compared to other providers who may be charging significantly higher premiums due to limited availability or lack of innovation in their services.
They provide attractive discounts when booking multiple activities at once while maintaining quality standards across all offerings. Similarly, they have invested heavily into digital marketing strategies such as pay-per-click campaigns and social media advertising which allows them to capture potential leads quickly and efficiently without relying solely on word-of-mouth referrals.
Overall, despite not receiving an infusion of capital during their stint on Shark Tank, Games2U still appears poised for success moving forward thanks to their continued efforts towards providing great value for customers both young and old alike through creative pricing models and strategic online marketing initiatives.
Games2U, a mobile entertainment company that offers birthday parties and corporate events featuring video games, has had an interesting journey since its appearance on ‘Shark Tank’.
Despite the failed negotiations with Sharks, Games2U managed to grow significantly over the last few years. Leadership changes have enabled them to expand their services from just video game truck rentals into esports tournaments and virtual reality experiences.
With financials showing steady growth, Games2U is poised to become one of the leading players in interactive gaming entertainment in North America. It appears that despite initial skepticism expressed by the Sharks, Games2U’s plans for growth were well thought out and are now paying off handsomely.
This case serves as an example of how even seemingly risky investments can pay off when there is a clear vision and determination to succeed.