Validated, a digital platform designed to help users earn rewards for shopping at partner retailers, appeared on Shark Tank in 2017 but did not secure a deal. Despite this, the company gained traction, raising $1.7 million in funding.
However, in 2019, the business was acquired by KlearNow for an undisclosed amount. The acquisition aimed to integrate Validated’s technology into KlearNow’s logistics solutions. Since then, Validated’s platform has been integrated into KlearNow’s offerings, but its independent operations have ceased, and its current net worth is no longer independently tracked.
Validated Net Worth
| Estimated Net worth | Aquired |
| Annual Sales Revenue | Not available |
| Lifetime sales | Not available |
| Investor | None |
| Founders | Ian Lyman, Tov Arneson, and Alex Wilhelm |
| Employees | Not available |
Validated Pitch on Shark Tank
| Company name | Validated |
| Product | App that lets users earn ride credits by spending in stores. |
| Episode | Season 8 Episode 21 |
| Founders | Ian Lyman, Tov Arneson, and Alex Wilhelm |
| Asked for | $250,000 for 8% equity |
| Final deal | None |
| Shark | None |
| Location | Seattle, United States |
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Validated Founders
Validated was founded by Ian Lyman, Tov Arneson, and Alex Wilhelm in 2014. Tov Arneson is a serial entrepreneur with experience in the mobile app space. He is also a graduate of the University of Washington’s Foster School of Business. Alexander Wilhelm is a software engineer with experience building mobile apps and distributed systems. The other co-founder, Ian Lyman, is a marketing and product expert in the retail and technology industries. The net worth of Validated founders , Ian Lyman, Tov Arneson, and Alex Wilhelm, is unknown as of 2024.
Key accomplishments
| Year | Accomplishment |
| 2017 | Appeared on Shark Tank season 8. |
| 2018 | Continued to grow its user base and partner with more retailers and parking garages. |
Conclusion
Some companies that appear on the show have not achieved great success, and validated was one of them. Sometimes businesses don’t succeed because of many reasons. Sometimes, the deal falls through after the founders say yes on camera. Or, as you’ll see, sometimes things happen to the founders themselves, and they choose to abandon the business. Anything is possible. However, Validated went out of business in 2019. And the product is no longer available in the market.