WiSpots, owned by Kevin Flannery, offers an Patient Interaction Center Device. This device offers services including reading magazines, completing surveys, accessing educational information, checking email, playing games, and more.
The cost to install the complete setup of the device in doctors’ offices is $9,000. It is entirely free for patients. Pharmaceutical companies, media buyers, and advertisers pay to place their ads on the device.
What do you think Kevin Flannery’s WiSpots business idea? Will Sharks be interested or will Flannery have to come back without investment?
| Company Name | WiSpots | |
| Founder/Co-Founder | Kevin Flannery | |
| Founded | Feb 1999 | |
| Product | Patient Interaction Center Device | |
| Asked For | $1.2M for 10% equity | |
| Final Deal | No Deals | |
| Shark | No Sharks | |
| Episode | S1 E1 | |
| Air Date | Aug 9th, 2009 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | Morrisville, North Carolina, United States | |
| Lifetime Sales | $0M *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
What Is the Background of The Founder?
Kevin Flannery, a graduate from the College of Engineering, UMass Amherst, earned a degree in Electronics Engineering. He founded his first company, KSF Electric, LLC, in March 1991.
His WiSpots business ran for 13 years until it was shut down in January 2012. After that, he worked in several technology companies, including Alcatel-Lucent Enterprise, DTEL, and many more.
WiSpots Shark Tank Recap
In Shark Tank, Flannery revealed that he has invested $550,000 by combining his daughter’s college fund, credit card, and all of his savings into his company. The current valuation of his company is $12 million. The complete device setup costs $9,000, which doctors will need to pay either directly or through a lease fee.
Kevin O’Leary said, “Stop this madness,” and then out. Flannery replied, “You don’t understand.” Barbara Corcoran and Kevin Harrington declined to invest in this business.
Daymond John told Flannery that it is very risky to use his daughter’s college fund and put his home on the line for this business. Therefore, he declined to invest.
Robert Herjavec said you should always save your money so that you don’t put your family at risk. Therefore, like the other Sharks, he also declined to invest in this business.
WiSpots Shark Tank Update
After returning from Shark Tank, Flannery gave the business an additional three years to grow. He invested more money, but in the end, due to insufficient results, he had to shut down the business in 2012.
Flannery’s LinkedIn profile mentions that he is currently working on the AIVEN Group’s Patent Pending TelSmart EV Charging network project.
To learn about updates on other businesses that appeared in Season 1 Episode 1, visit the source provided below:
