SnagaStool Shark Tank Update

Have you ever faced a situation where you wanted to go to your favorite bar and found no place to sit?

I am sure you would have felt the same disappointment, but there is a way out. Our entrepreneurs, Jamie and Dean have found a way to solve it. SnagaStool is an app that allows user to book their Bar Stool in advance.

SnagaStool is a platform that connects customers with bars and restaurants to help them find the best seat in the house. It’s the perfect solution for anyone looking to discover new places or avoid crowds at their favorite spot. With SnagaStool, you can skip the hassle of waiting for a table and enjoy your night out stress-free.

SnagaStool at a glance:

Business ideaA Platform help to find the best seat in bars and restaurants
FounderDean Whitney and Jamie Manning
Asked for$120,000 in exchange for an 18% 
Accepted dealNo Deal
SharksNo shark
Business statusIn business
EpisodeSeason 7
SnagaStool at a glance

Index:

Founder Story:

Jamie and Dean post their office decided to hit the bar to have a drink and watch their favorite game, but sadly could not get a place to sit even after trying at 3 or 4 bars across.

They found this experience a few times and decided to design the App called Snagastool to reserve a Bar Stool in advance.

The app allows an easy way for the users to select a bar as per the menu and select the date and timing to book a bar stool in advance. The bookings do come with a small fee.

Did the SnagaStool get a deal on Shark Tank?

The founders walk into the shark tank and introduce themselves to the sharks, asking $120,000 in exchange for an 18%  stake in their company, Snagastool, a bar stool reservation app targeted at customers that would like to reserve a place at a bar for an important game, and don’t want the hassle while finding the best seat in the house.

But the problem seems to be the core idea itself, as the sharks all seem to mention the same thing, wouldn’t people be angry if they planned the right time for the game, but couldn’t find a stool because the empty ones were reserved for someone who isn’t even there yet! 

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Mark is the first one to go out as he thinks that the above statement is applicable to them as they are still in small bars that are sure to fill up during the game time, without needing to be reserved.

Kevin, after listening to Mark, says that what the founders should do is a partner with big bars, where a seat is truly coveted by many and may be willing to reserve ahead of time while giving the example of Grill23, where he likes to go with his friends to watch a game.

Daymond isn’t interested, so he goes out, Robert doesn’t think that the product can really reach the scale that would make him feel like investing, so he’s also out. Lori likes the concept as it makes people feel special, to have a place at a bar ahead of time, but thinks that the company is in too early a stage to back, so she also goes out.

With all 5 sharks having backed out, the founders walk away.

What happened to THE SnagaStool after Shark Tank?

After the Shark Tank deal, Duo had to run the business on its own as it could not get a Shark to invest in its app. The company could not survive beyond 2016 as it had to close its business.

Since then, there has not been a significant update on the company’s progress or current status. The SnagaStool website and social media accounts have not been updated since 2019, so it is unclear if the company is still in operation.

What is the net worth of the SnagaStool?

At the time of Shark Tank’s appearance, they were valued at $666,000 as per the founders. Unfortunately, the business is now closed and has no net worth reported currently.

Is the SnagaStool still in business?

No, the company is no longer in business and closed in 2016. Post their closure of business in 2016, the business had certain updates in media in 2018.

The latest update was Jamie is into a new business called Bagga Box, which is related to theft-prevention bags. The business is in the crowdfunding stage currently.

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FAQs:

What is SnagaStool?

SnagaStool is a platform that connects customers with bars and restaurants to help them find the best seat in the house. It’s the perfect solution for anyone looking to discover new places or avoid crowds at their favorite spot.

What's the net worth of SnagaStool?

At the time of Shark Tank’s appearance, they were valued at $666,000 as per the founders. Unfortunately, the business is now closed and has no net worth reported currently.

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