VPcabs is a virtual pinball machine company. The machines can cost up to $9,000 each and are licensed for up to 15% of the sale price. The company is doing well with sales and is expected to reach $3 to 5 million in annual revenue by 2021. The founder and only employee is Brad Baker. He is the only person on the VPcabs team. VPcabs Net Worth has been compared to the value of his company during the pitch and after Daymond John invested.
VPcabs is a virtual pinball machine company
Founded in 2017, VPCabs started out as a small garage operation. The company eventually outgrew that space and moved to larger facilities in Fairfield, Ohio, and Hamilton, Michigan. Previously, Brad Baker had worked for a business in his hometown. He teamed up with his brother to create pinball machines for their customers. After the success of the first pinball machine, demand for the company increased.
Currently, VPCabs produces four models of virtual pinball machines. The Vertigo model is upright, taking up less space than its older counterpart. It uses a trackball, buttons, and joystick to control play. The Classic model resembles a standard pinball machine and has a high-quality sound system. The Wizard model comes with a tactile feedback system, which allows players to feel the sensation of playing a pinball machine.
Its machines cost up to $9,000 apiece
Despite being an American-owned company, VPCcabs’ machines aren’t cheap. On Shark Tank, Brad Baker, founder of VPcabs, was offering the most expensive retail product. His virtual pinball machines cost up to $9,000 apiece and have sold for under $400,000 in lifetime sales. He was joined by Zach Brown, a paramedic/firefighter and his ER nurse wife Alyssa. Brown pitched his invention, the Moki Doorstep, a door step that hooks over a u-shaped door latch and allows people to easily access the roof of their vehicles.
Brad VP Cabs’s company has expanded to more comic-con events and trade shows. They recently partnered with the Wizard World Comic Con to auction off a Back to the Future game. The game had been autographed by several cast members and sold for $7,500. The publicity and exposure from the auction made the machines valuable to VPcabs. Brad Baker hopes to increase production levels with the Sharks’ help.
Its games are licensed for up to 15% of the sale
On Shark Tank, Brad Baker hawked a retail product that could make you up to $15 million – a virtual pinball machine. While these machines are extremely expensive, they only cost about $9,000 each. Daymond John was intrigued by the idea of creating a pinball machine that is both affordable and fun, and offered $200,000 for 25 percent of VPcabs in exchange for his business. The two sides have been working together to land licensing and business branding deals. Since the deal, Baker says sales have increased by more than $1 million.
Founder Brad Baker was an audio/video industry professional for 15 years. His brother, who owned an arcade, figured out how to make such a device. The VPcabs prototype was born. Brad grew his business through licensing, and now sells these pinball machines in arcades, retail stores, and online. Currently, VPcabs is in talks to sell pinball machines through Steam.
Its sales have jumped to more than $1 million
Brad Baker, the entrepreneur behind the Shark Tank show, has managed to sell the most expensive retail product ever. His company, VPcabs, produces virtual pinball machines that cost upwards of $9,000 each. On the show, he landed a deal with Daymond John for $200,000 for a 25 percent stake in his company. Before this deal, VPcabs had made less than $400,000 in lifetime sales. But since the Sharks bought him out, sales have increased to more than $1 million.
VPcabs is still a small startup, but the company has already landed several notable deals. A deal with Daymond John in 2018 saw the startup sell 25 percent of the company for $200,000, making its net worth more than $1 million today. Despite a relatively low starting point, VPcabs expects to generate $3-5 million in annual revenue by 2021.