|SEASON 9 EPISODE 9|
|Pitch||tip or pay app based on blockchain technology|
|Entrepreneur||Maria del Carmen Luna and Hector Rodriguez-Luna|
|Asked For||$150,000 for 5%|
|Deal||$150,000 for 10% + 4% advisory shares|
|Shark||Mark Cuban and Lori Greiner|
What is Bravo?
With its headquarters in Phoenix AZ, Bravo is a cashless transaction app that enables valet attendants, athletes, chefs, buskers, comedians, musicians or yoga instructors to create a store for getting paid by their clients or making payments. Users don’t have to share personal details.
Bravo enables you to locate performers, valets and other service providers easily. You can support your most preferred individuals as a fan and buy experiences like meet and greets, pre-concert passes, special edition and backstage merchandise.
To make payments to other users, you can find them through the name or proximity. For instance, musicians can have a Bravo name that enables folks in the audience can send tips to.
The Puerto Rican founders (Maria Luna and Hector Rodriquez) believe there are two ways of accumulating profit, first is via the transaction charges attached to each payment and via a machine learning feature that may be sold separately to merchants depending on predictive usage and spending Patterns.
On Shark Tank, the couple requested USD 150,000 for a five per cent stake in their firm. Mark Cuban ( NBA’s Dallas Mavericks owner) and Lori Greiner( the QVC queen) invested the amount but for a 10 per cent equity that uses 4 per cent advisory shares.
Bravo replaces the sophisticated crypto payments in a secure, anonymous and quick way. Its direct competitors haven’t released news of cryptocurrency integration in their applications yet; thus, Bravo utilizes this rapidly growing multi-billion market and thousands of individuals worldwide with no bank accounts.
Since its appearance on Shark Tank, Bravo has reached more than a thousand cities within the U.S and launched the BVO token sale. BVO rewards users and enables traders to purchase and sell on multiple cryptocurrency exchanges.
The firm moved into new Scottsdale offices in 2019 and still maintains its partnership with ASU Venture Devils Program, that offers support for ASU students, staff, faculty as well as local entrepreneurs
Bravo sports a GPS function which informs users about nearby providers. You will pay directly from your debit/credit card while providers get funds directly to their bank account. Money is available within one to three days.
Bravo has processed over $1,000,000 in transactions during the app’s lifetime. It made $15,000 in a quarter from merchant sales.
Before its appearance on Shark Tank, Bravo had accrued $225,000 from family and friends. It makes a 2 per cent transaction fee from users who get paid or tipped by their clients.
The organization provides a subscription program, which offers tools like artificial intelligence properties and data aggregation to end-users. This insight enables service professionals and artists to market their services or products and grow their businesses within the app.
The subscription option is available at the beta stage for specific customers
Bravo is also geofencing ads. Geofencing marketing is region-based marketing that enables professional providers to connect with their Smartphone patrons within a specific geographic location through mobile webpages or mobile apps. Since it’s a location-based program, geofencing depends on a myriad of technologies such as Bluetooth, GPS, Wi-Fi and radio-frequency identification (RFID)