Vengo, a Smart, cashless vending machine, was started by Steven Bofill and Brian Shimmerlik in 2012. As of March 2024, Vengo’s net worth is $50 Million and they’re pulling in a whopping $12 million in annual revenue.
On March 18, 2016, they appeared on Season 7 of Shark Tank USA and made a deal with Kevin O’Leary and Lori Greiner, for $2 million for 3% of equity. The final valuation was $16 Million, up from the founder’s initial estimate of $66 Million.
Vengo is still in business. Their products are available on the website.
Vengo Net Worth
| Net worth | $50 Million (2024) |
| Annual Sales Revenue | $12 million (2022) |
| Profits | – |
| Lifetime sales | – |
| Investors | Lori Greiner and Kevin O’Leary |
| Founders | Steven Bofill and Brian Shimmerlik |
| Employees | 10 to 25 |
Vengo Net Worth Timeline
| Net Worth 2023 | $50 Million |
| Net Worth 2022 | $40 Million |
| Net Worth 2021 | $30 Million |
| Net Worth 2020 | $25 Million |
| Net worth valuation in 2016 after appearing on Shark Tank | $66 Million |
| Net worth valuation in 2016 before appearing on Shark Tank | $16 Million |
Vengo Pitch on Shark Tank
| Company name | Vengo |
| Product | Smart, cashless vending machines |
| Episode | Season 07 Episode 22 |
| Founders | Brian Shimmerlik and Steven Bofill |
| Asked for | $2 million for 12.5% equity |
| Final deal | 36-month loan of $2 million at 7% and 3% equity |
| Sharks | Lori Greiner and Kevin O’Leary |
| Location | Road Bldg, Bethpage, New York |
Don’t miss these products from Season 7
Vengo Founders
Vengo was founded by Brian Shimmerlik and Steven Bofill in 2012. The founders worked hard to grow this company. They are so smart and passionate. Vengo’s founders, Brian Shimmerlik and Steven Bofill net worth is unknown as of 2023.
Key accomplishments
| Year | Accomplishment |
| 2023 | Vengo now have a network of almost 1400 Vengo machines in gyms, colleges, and offices. |
| 2016 | Vengo Appeared on Shark Tank |
Conclusion
From their beginnings on Shark Tank to their current status as a thriving business. They have proven that with the right idea and execution, anything is possible. We can’t wait to see the future for Vengo and its continued success.
