Shark Tank: Qeepsake Digital Baby Journal Fails to Get A Deal, Despite Offers from Kevin O’Leary and Chris Sacca
By Erica Abbott
Last into the tank is Jeff McNeil of Qeepsake, seeking $350,000 for 10 percent equity.
Qeepsake makes collecting memories of your baby effortless. Their digital baby journal replaces traditional baby books by utilizing text messaging. The company texts questions and the responses are then added to the parents’ private baby journal. The entries and photos, which can also be sent directly from a parent, can be viewed any time on Qeepsake’s website—and later printed into a book. Prices for the journal range from $29.99 to $44.99, depending on the length of the book.
They have sold only four books, but the sharks are intrigued. Qeepsake, which has thousands of users, has done $255,000 in revenue in four months. Barbara Corcoran doesn’t know how she would help McNeil and goes out, as does Mark Cuban. O’Leary offers $350,000 for 20 percent. Lori Greiner doesn’t see herself as the right partner and goes out, increasing the chances of O’Leary further decreasing the valuation.
McNeil admits that he doesn’t like O’Leary’s offer and counters 12 percent. Guest shark Chris Sacca likes the idea, but is worried about the pushback O’Leary received given that he would have offered the same valuation of $350,000 for 20 percent. He counters Sacca at 14 percent, which causes O’Leary to go out.
Ultimately, Sacca stays at 20 percent, which McNeil says he would accept if there was more money involved. Ultimately, he declines the offer and walks away without a deal.
Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging businesses to multi-millionaire and billionaire investors, known as sharks: Mark Cuban, owner of the Dallas Mavericks; Daymond John, fashion mogul and founder of FUBU; Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group; Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC; and Robert Herjavec, technology guru and founder/CEO of the Herjavec Group.
Philanthropist and Virgin Group founder Richard Branson, Spanx founder Sara Blakely, Skinnygirl Cocktails founder and Real Housewife Bethenny Frankel, Vitamin Water founder Rohan Oza and former MLB player Alex “A-Rod” Rodriguez are also slated to appear as guest sharks this season.
“Shark Tank,” which is based on “Dragons’ Den,” is produced by Mark Burnett and first debuted in 2009. To date, the sharks have invested more than $100 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Sunday at 9 p.m. on ABC.
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Source:: Business 2 Community