Autio Shark Tank Update | Autio Net Worth

Autio is a cutting-edge travel app that made its appearance on Season 14, Episode 17 of Shark Tank. This app is designed to transform any road trip into an engaging and educational journey by providing audio storytelling that enriches the travel experience.

Autio leverages GPS technology to offer location-based audio content, effectively turning a user’s smartphone into an immersive tour guide.

As travelers navigate through various destinations, the app delivers stories and facts relevant to the landmarks, neighborhoods, and hidden gems they encounter, providing insights into local history, culture, and attractions.

The app’s standout feature is its extensive library of audio content, which includes stories narrated by celebrities, adding a layer of entertainment to the educational aspects of travel.

Autio’s user-friendly interface ensures ease of use, allowing travelers to access a wealth of knowledge with minimal effort. The stories are automatically triggered as users approach points of interest, making it a seamless addition to any road trip.

Autio is a compelling choice for travelers looking to deepen their understanding of the places they visit, offering a rich tapestry of local lore and legends alongside practical travel information.

With its unique blend of technology and storytelling, Autio stands out in the travel app market, providing a product that not only informs but also entertains, making it a must-have for tourists and adventure seekers.

The app’s focus on creating a memorable and educational travel experience positions it as a leader in its category and an attractive option for those looking to explore the world through a new lens.

Company NameAutio
FounderWoody Sears, Bill Werlin, and Kevin Costner
ProductA travel audio guide app
Investment Seeking$1 million for 5% equity
Final Deal AcceptedNo Deal
Shark NameNo Sharks
EpisodeSeason 14, Episode 17
Business StatusIn Business
WebsiteVisit Website
Net Worth$20 million (Estimated)

What Is Autio?

Autio is a narrative travel app that provides audio stories about various locations across the United States. It offers a mix of entertaining information and deep dives into the history and cultural significance of places in easily consumable audio segments.

Autio Shark Tank Update | Autio Net Worth

The app uses geolocation to identify where users are and shares stories relevant to their location, which they can listen to while driving. Autio was founded by Woody Sears, Bill Werlin, and Kevin Costner and was initially launched as HearHere.

Autio features stories narrated by celebrities and experts and covers a wide range of topics and interests. The app is subscription-based, with a free account allowing access to five stories and an annual membership providing unlimited access.

Who Is The Founder Of Autio?

Woody Sears and Bill Werlin are the founders of Autio. Woody Sears, who serves as the CEO, is an entrepreneur with a significant track record in the consumer and mobile technology sectors. He has played a pivotal role in the development and success of various startups and businesses.

Bill Werlin, the Co-Founder of Content, brings a deep passion for storytelling and has been key in developing Autio’s extensive library of engaging audio stories.

The idea for Autio was born out of a shared passion for road-tripping among its founders. Woody Sears, with his entrepreneurial background, recognized the potential for a location-based storytelling platform that could enhance the travel experience.

Bill Werlin, with his enthusiasm for storytelling, saw the opportunity to curate a rich collection of narratives that could educate and entertain travelers.

Together, they envisioned an app that would bring to life the history and culture of various places, catering to curious travelers seeking a deeper connection with their journey’s landscapes.

Before appearing on Shark Tank in March 2023, Autio had already established a significant presence with a library of over 10,000 location-based audio stories available exclusively in the United States.

The app, launched in 2020, has been well-received for its hands-free and engaging approach to learning about the places users visit.

Autio’s commitment to diversity and politically unbiased content, along with its privacy-conscious stance of not sharing location data with advertisers or third parties, set it apart in the travel app market.

With stories narrated by master storytellers and new content added weekly, Autio has become a go-to app for travel enthusiasts looking to enrich their on-the-go experiences.

How Was The Shark Tank Pitch Of Autio?

The Shark Tank pitch for Autio, presented by entrepreneur Woody Sears, was centered around his mobile audio travel app, which offers narrated stories about various locations featuring celebrity voices.

The app is free to download, with the first five stories offered at no cost and a subsequent annual fee of $36 for full access.

Autio Shark Tank Update | Autio Net Worth

Summary of Autio Shark Tank Presentation:

  • Founder: Woody Sears
  • Business: Mobile audio travel app, Autio
  • Ask: $1,000,000 for 5% equity

During the pitch, Woody disclosed that Autio achieved gross revenues of $200,000 in 2021 and had an increase to over $700,000 in 2022.

He also mentioned that other investors were buying in at a higher valuation than what was being offered to the sharks, implying a discount for them.

The sharks expressed interest but were hesitant due to the high valuation. All sharks eventually opted out except Kevin O’Leary, who made an offer.

Investment Offers and Negotiations:

  • Kevin O’Leary’s Offer: $1 million for 15% equity
  • Counter-Offer by Woody: Reduced Kevin’s equity stake to 10%
  • Final Outcome: No deal was accepted; Woody walked away without an investment from the sharks.

Despite not securing a deal, the company saw success after the show with a significant increase in subscribers. The company is still operational and expanding its library of stories.

Shark’s NameInvestment OfferedCounter Offer by FounderFinal Deal Accepted
Kevin O’Leary$1 million for 15% equity10% equityNo deal

Autio’s pitch on Shark Tank was noteworthy for its significant revenue growth and potential market appeal but ultimately did not result in investment due to valuation disagreements.

Did Autio Get a Deal on Shark Tank?

No, Autio did not secure a deal on Shark Tank. The company’s co-founder, Woody Sears, appeared on the show seeking $1 million for 5% equity, but the negotiations with the sharks did not result in an agreement.

Despite a counter-offer from Kevin O’Leary, Sears was not willing to give up more than 7% equity, leading to no deal being made.

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What Happened To Autio After Shark Tank?

After declining Kevin O’Leary’s offer on Shark Tank for a $1 million investment at 15% equity, Autio experienced the “Shark Tank effect.” The company witnessed a significant boost in popularity, with app downloads skyrocketing by 464%, new subscribers increasing by 105%, and website traffic soaring by 1,600%.

Autio now boasts over 10,000 stories across the United States and launched in Australia in January 2023.

Autio Shark Tank Update | Autio Net Worth

Autio capitalized on the exposure from the show, going from 15,000 users to 230,000 registered users by the end of March 2023. This rapid growth continued, and by April 2023, Autio boasted millions of users.

The app has received positive feedback from its user base, maintaining a high rating of 4.8 out of 5 from over 3,500 reviews on the Apple Store. Autio has been featured in articles by prestigious publications like Forbes and the New York Times, gaining additional credibility and visibility.

Co-creator Kevin Costner’s involvement has been a significant asset for Autio, potentially contributing to its success and visibility. Despite not securing a deal on Shark Tank, Autio remains in business and is thriving with a rapidly expanding user base and high user satisfaction.

The company is looking to enrich its content offerings and expand into new markets. With plans to launch on Android and explore international markets, Autio is focusing on increasing accessibility and enhancing user engagement through community features and enterprise integrations.

The company is focusing on building up its database of stories and aims to expand globally in the future. Autio also signed a deal with JetBlue to bring audio content for 29 of the carrier’s destination cities via seatback screens on their planes.

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Autio Shark Tank Update

After appearing on Shark Tank Season 14, Episode 17, where founder Woody Sears pitched the innovative travel storytelling app, Autio, the company did not secure an investment from the Sharks. Despite this, Autio has continued to flourish in the travel app market.

Autio sustained significant growth, leveraging its unique offering of GPS-based audio stories narrated by celebrities to captivate travelers.

The app’s subscription model proved successful, with revenues skyrocketing from $200,000 in 2021 to over $700,000 in 2022.

Autio Shark Tank Update | Autio Net Worth

Impressively, the company secured a total of $10.7 million in funding through various rounds by March 2023, affirming investor confidence in the app’s potential.

Autio’s net worth soared to an estimated $20 million, underlining its robust market presence and growth trajectory.

Despite stiff competition from other travel apps and giants like Amazon’s Audible, Autio carved out a niche with its unique storytelling approach.

The app’s user-friendly interface and seamless integration with travel experiences have made it a favorite among road-trippers and cultural explorers.

Autio’s focus on delivering local insights and culturally rich stories helped establish it as a go-to travel companion for educational entertainment.

Autio capitalized on the exposure gained from Shark Tank to expand its user base and enhance its service offerings. By combining innovative technology, strategic marketing, and quality content, Autio has successfully positioned itself as a valuable and unique player in the travel industry post-Shark Tank.

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What Is the Net Worth Of Autio?

According to our research, Autio’s net worth is estimated to be $20 million after its appearance on Shark Tank season 14.