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Virtusphere Net Worth 2023 Update (Before & After Shark Tank)

"Virtusphere" Net Worth 2023 Update

Virtusphere is a virtual reality system. This was started by Ray Latypov and Jim Dimascio in 2005. Virtusphere’s net worth was $15 million at the time of their pitch in 2009 based on the $1.5 million offer for an 10% of equity of the company. 

They appeared on Season 1 of Shark Tank USA in 2009. But the Sharks were not interested in investing in Virtusphere. 

Despite not winning a deal, Virtusphere had a smooth long run in the business. However the business became inactive in 2021. As of October 2023, the company website is still up, but they are no longer running operations.

Virtusphere Net Worth

Net worth$3 million (2021)
Annual Sales Revenue$3 million (2021)
Profits
Lifetime sales
Investor
FoundersRay Latypov and Jim Dimascio
Employees<10

Virtusphere Net Worth Timeline

Net Worth 2023Out of business
Net Worth 2022Out of business 
Net Worth 2021$3 million
Net Worth 2020$3 million
Net worth valuation in 2009 before appearing on Shark Tank  $15 million (business valuation)

Virtusphere Pitch on Shark Tank

Company nameVirtusphere
ProductA virtual reality system
EpisodeSeason 01 Episode 09
FoundersRay Latypov and Jim Dimascio
Asked for$1.5 million for 10% equity
Final dealNo deal
SharkNone
LocationBinghamton, New York

Don’t miss these product from Season 1

Virtusphere Founders

Virtusphere was founded by Ray Latypov and Jim Dimascio in 2005. Both Ray and Jim work for the software industry and they specilize in designing and developing computer software. Along with seven other employees they started their own business in New York. Virtusphere’s founders net worth is currently unknown.

Key accomplishments

YearAccomplishment
2009Appearing on Shark Tank season 1
2011Within a year after Shark Tank appearbce company revenue increased in $3 million 

Conclusion

Some companies that appear on the show have not achieved great success, and the Virtusphere 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,  Virtusphere went out of business in 2021. And the product is no longer available in the market.

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Written by GAG Team

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