Vseat, a bicycle seat founded by Bryan Visintin and Ani Armstrong, telecasted Shark Tank USA in 2024 on Season 15. The founders were seeking $150,000 for 5% equity. However, they secured a deal with Robert Herjavec and Kevin O’Leary, which was $200,000 for 25% equity. In this article, we will explore Vseat Net Worth in 2024, its Shark Tank pitch summary and more.
Vseat Net Worth
As of January 2024, Vseat’s net worth is $1.5 million, and its annual revenue is not disclosed.
| Net worth | $1.5 million |
| Annual Sales Revenue | Not Available |
| Profits | Not Available |
| Lifetime sales | $300,000 (2024) |
| Employees | 2-10 employees |
Vseat Net Worth Timeline
| Net Worth 2024 | $1.5 million |
| Net Worth 2023 | $1 million |
Shark Tank Vseat Update from Season 15
Vseat is a revolutionary, noseless, and bumbles bicycle seat that is designed to provide unparalleled comfort during long rides. Its ergonomic design ensures optimal support, preventing any restriction of blood flow for both men and women. The padded seat features a unique grip that keeps you securely in place and prevents any slipping while riding.
The Vseat also boasts adjustable settings and durability. According to Vseat co-founder Bryan, one of the best features is that you won’t need padded bike shorts when using the Vseat.
In the Shark Tank, Bryan Visintin and Ani Armstrong had a goal to expand their bicycle seat business. They proposed a deal to the Sharks, $150,000 in exchange for 5% equity, which values their company at $3 million. During their pitch, Ani and Bryan invited Kevin O’Leary and Barbara Corcoran to try out the Vseat firsthand.
Kevin tested both a regular seat and the Vseat, praising the latter for its package-friendly and non-restrictive design. Barbara also gave credit to the Vseat, and she was impressed by its comfort, even without extra cushioning.
After evaluating the product, the Sharks were ready to discuss the business. Mark inquired about the cost and price of the Vseat. Ani revealed that each Vseat sold for $119 on their official website, with a production cost of $24 per seat.
Further, they explained that over the past three years, they had achieved sales exceeding $300,000, including $26,000 in the year before filming the Shark Tank. Also, in the current year of filming, they had already reached $270,000 in sales.
However, the Sharks were confused about the difference in sales. There, Ani explained that the surge was due to their advertising efforts on Facebook and Instagram.
Lori asked if the Vseat was patented, and Ani proudly confirmed that they held six design and utility patents. Barbara then asked how much they had invested in the business, and Ani and Bryan revealed they had put in $500,000.
Kevin expressed concerns about entering the retrofit market, while Mark Cuban suggested exploring licensing agreements with bike manufacturers. Ani and Bryan acknowledged they had yet to pursue this approach but were open to the idea.
There, Mark also mentioned his partnership with Guardian Bikes, a company focused on enhancing bicycle safety. However, he explained the challenges of convincing major bike companies to license safety products due to narrow profit margins. Despite the importance of safety enhancements, big brands were reluctant to incur additional costs in design improvements. However, ultimately, Mark decided not to pursue an investment in the venture.
Kevin made the initial offer of $150,000 in exchange for a 20% stake in Vseat, citing the value of the registered patents held by the company. Robert, drawing from his own family’s immigration experience, empathized with the duo’s backstory. He offered $150,000 for a 15% stake in the company as a gesture of appreciation for the opportunities provided by the USA.
Barbara expressed her concern that despite the comfort of the seat, its appearance didn’t convey that comfort. Therefore, she decided not to invest. Lori Greiner acknowledged the two promising offers already on the table for Ani and Bryan. Consequently, she chose to opt out of the deal.
Ani countered Robert’s offer with 12.5% equity, which he declined. Recognizing Robert’s superior offer compared to Kevin’s, Ani and Bryan sought a joint deal with both sharks. At the moment, Robert and Kevin agreed to bring $150,000 for a 25% stake in the company.
Ani proposed doubling the investment for the 25% equity, but the sharks declined it. Then, Sharks settled on offering $200,000 for 25% equity, which values the company at $800K. Finally, after discussing the terms, Ani and Bryan agreed to accept the deal with Kevin and Robert.
| Company Name | Vseat |
| Founder | Bryan Visintin and Ani Armstrong |
| Business | A bicycle seat |
| Episode | Season 15, Episode 20 |
| Asked Deal | $150,000 for 5% equity |
| Final Deal | $200,000 for 25% equity |
| Shark | Robert Herjavec and Kevin O’Leary |
| Business Status | In Business |
| Company Website | Visit Website |
| Headquarter | Marina Del Rey, California, USA |
Summary of the Sharks’ Deal List!
| Shark | Offer | Counteroffer |
| Kevin O’Leary and Robert Herjavec | $150,000 25% equity | $300,000 for 25% equity $200,000 for 25% equity (Accepted Deal) |
| Kevin O’Leary | $150,000 20% equity | N/A |
| Robert Herjavec | $150,000 15% equity | $150,000 12.5% equity |
| Barbara Corcoran | No Offer | N/A |
| Lori Grinear | No Offer | N/A |
| Mark Cuban | No Offer | N/A |
What Happened to Vseat After Shark Tank?
As of June 2024, the Vseat is still in business. Also, the products are available for purchase on the company website for $119. Though it is more expensive than typical bicycle seats, it has garnered numerous positive reviews.
Following their appearance on Shark Tank, the company saw a significant boost in sales. With two Sharks on board, Vseat is poised for substantial growth in the coming years. The founders aim to partner with Shark to help get their product into bike shops and sporting goods stores.
Vseat Founders
Bryan Visintin and Ani Armstrong are the founders of Vseat. Their journey began in 2017 when Ani experienced significant discomfort while biking in California. Conventional bicycle seats often cause discomfort by exerting excessive pressure on nerves and arteries, which impedes blood flow. Ani and Bryan developed an innovative bicycle seat known as the Vseat to address this issue.
When an Armenian family in Iran adopted her, she was a three-day-old girl. Also, at age 12, Iranian police threatened to jail her for a visible strand of hair through her hijab. Her mother’s plea saved her, and soon after, the family fled to the USA. There, Ani holds an Executive MBA from UCLA Anderson School of Management, a Bachelor of Science in Chemistry from Occidental College, and a JD from Southwestern Law School.
Ani’s career began at Johnson & Johnson’s Janssen Pharmaceutical Companies as a primary care district manager in the Scranton District, NE Region. She then became a senior manager in sales training and development at Intendis. In 2005, she also worked at Johnson & Johnson-Life Scan as a regional manager, then transitioned to consulting in 2008, advising a CEO of Individual Food Service. She later took a sabbatical for personal study and now serves as the founder and CEO of Vseat.
Bryan, co-founder and UC Santa Barbara graduate, is a fitness coach and the Vice President of Marketing at the Architectural Resource Center (ARC). He later became the owner/operator of Pacific Coast Health (PCH) and joined Vseat in 2017. As of January 2024, Bryan Visintin and Ani Armstrong’s net worth are $600K.
Vseat Achievements and Awards
| Year | Achievements and Awards |
| 2024 | The company was featured on Shark Tank Season 15 and got the deal from Robert Herjavec and Kevin O’Leary |
Conclusion
Shark Tank is a TV show showcasing different business ideas, helping them succeed. Vseat was one of the ventures featured on the show. They made a deal with Robert Herjavec and Kevin O’Leary, showing that success is possible with the right idea and execution. Now, we eagerly await to see how their success story unfolds in the future.
Before you leave, check out the other company updates in Season 15, Episode 20.
