ARIZONA NEWS

Phoenix-based app snags $150,000 in investment funds on ‘Shark Tank’

Nov 6, 2017, 2:59 PM | Updated: 3:32 pm

PHOENIX — The Phoenix creators of a tipping app landed a $150,000 investment from two people during an appearance on “Shark Tank” on Sunday.

Three of the investors felt the Bravo Tip or Pay app still had some issues to work out or was too confusing, but Dallas Mavericks owner Mark Cuban and inventor Lori Greiner liked what they saw and offered $150,000 for a 15 percent stake in the app.

After some negotiation, the investors and the app’s creators, Hector Rodriguez and Maria Luna, agreed on 10 percent control of the company and an additional 4 percent in advisory shares.

The beta version of Bravo launched in September of 2015. It allows users to pay or tip for services through the app without exchanging personal information or swiping a credit card.

Luna told the Phoenix Business Journal that she and Rodriguez were seeking investors because the app has a lot of potential.

“It’s a great platform to meet great advisers and people,” she said. “It’s a great opportunity that any business will welcome.”

While Luna would not tell the Journal how many users the app has generated, it has been used by tens of thousands of in Phoenix.

The app is also available in Austin, Texas; and will launch next in the Los Angeles area.

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

Entrance to the Internal Revenue Service building....

KTAR.com

Arizona launches legal battle against IRS to halt taxation of state-issued tax rebate

The state of Arizona is suing the IRS to prevent it from taxing a

15 minutes ago

Three panel image, left to right, of Ruben Gallego, Kari Lake and Kyrsten Sinema...

Kevin Stone

New Arizona Senate poll: Ruben Gallego up big over Kari Lake in race for Kyrsten Sinema’s seat

A new poll on Arizona's U.S. Senate race is good news for Ruben Gallego, bad news for Kari Lake and worse news for Kyrsten Sinema.

1 hour ago

Brunson Lee elementary school district sign...

KTAR.com

Manhunt yields no results after shooting suspect seen going into Phoenix elementary school

A manhunt came up empty after a shooting suspect was seen running into an elementary school before students arrived Thursday morning.

4 hours ago

Chandler innovation fair 2024 East Valley...

Serena O'Sullivan

Chandler Innovation Fair to celebrate innovation with hundreds of hands-on science exhibits

The yearly Chandler Innovation Fair, which celebrates innovators and scientists of all ages in the East Valley, will return on Saturday.

6 hours ago

One Handsome Bastard photo...

Serena O'Sullivan

Old Town Scottsdale’s 1st microdistillery opens in former Blue Clover Distillery space

The space previously occupied by Blue Clover Distillery is now known as One Handsome Bastard. The name honors the late Brad Ritchie.

6 hours ago

Follow @KTAR923...

Sponsored Content by Midwestern University

Midwestern University Clinics: transforming health care in the valley

Midwestern University, long a fixture of comprehensive health care education in the West Valley, is also a recognized leader in community health care.

Sponsored Articles

...

Day & Night Air Conditioning, Heating and Plumbing

Day & Night is looking for the oldest AC in the Valley

Does your air conditioner make weird noises or a burning smell when it starts? If so, you may be due for an AC unit replacement.

...

Collins Comfort Masters

Avoid a potential emergency and get your home’s heating and furnace safety checked

With the weather getting colder throughout the Valley, the best time to make sure your heating is all up to date is now. 

...

Sanderson Ford

The best ways to honor our heroes on Veterans Day and give back to the community

Veterans Day is fast approaching and there's no better way to support our veterans than to donate to the Military Assistance Mission.

Phoenix-based app snags $150,000 in investment funds on ‘Shark Tank’