Qeepsake Shark Tank Update | Qeepsake Net Worth

Qeepsake, a company featured on Season 9 of Shark Tank, has made a name in modern-day journaling, particularly for parents wanting to create personalized memory books for their children.

Essentially, Qeepsake is a unique service that combines technology and sentimentality to help parents chronicle their children’s lives through a series of thought-provoking questions and prompts.

Qeepsake operates on a simple premise – parents are busy, and preserving memories takes time, something many parents feel they lack. Qeepsake offers a solution by serving as a text-message-based journaling service.

Qeepsake sends parents daily texts with specific questions about their kids, such as “What made your child laugh today?” or “What new word did they learn?” Parents respond to these messages, automatically storing their answers in their child’s Qeepsake journal.

Company NameQeepsake
EntrepreneurJeff McNeil
ProductJournaling app for children
Investment Asking For$350,000 for 10% equity in Qeepsake
Final DealNo Deal
SharkNo Shark
Qeepsake Episode Season 9, Episode 7
Qeepsake Business StatusIn Business
Qeepsake WebsiteQeepsake Website

What Is Qeepsake?

Qeepsake is a modern, high-tech way for parents to journal their children’s everyday moments and memories easily and hassle-free.

Founded in 2016, it’s essentially a digital baby book that enables parents to capture and store special moments and milestones from their child’s life from birth to adulthood.

Qeepsake is a mobile app that sends daily prompts, encouraging parents to record memories and answer carefully designed questions about their children.

The best part about Qeepsake is that its highly interactive interface simplifies preserving memories without the stress of remembering all the details. It also offers a concierge service, physical baby books, and a memory bank.

In a fast-paced life, Qeepsake provides a perfect solution for modern parents to cherish beautiful memories and look back at them in the future. It is a beautiful intersection of sentimentality and technology. 

Qeepsake Shark Tank Update | Qeepsake Net Worth

Who Is The Founder Of Qeepsake?

Qeepsake was co-founded by Jeff McNeil, a former Google engineer, and his wife, Stephanie McNeil, in 2015. With their background in technology and a shared passion for preserving family memories, the McNeils developed the concept of Qeepsake as a solution to a common parenting problem.

Jeff McNeil had a diverse and strong background in the tech industry before Qeepsake. He is a graduate of MIT with a degree in Computer Science and has held roles at various companies such as Google and startups in Silicon Valley.

These experiences gave him the skills and knowledge to start a tech-based company. The idea of Qeepsake was conceived out of a personal need.

Jeff and Stephanie McNeil, as busy parents, found it difficult to consistently record memories and milestones of their growing children in traditional baby books. The creators of Qeepsake realized that capturing precious memories were made easier with text message prompts.

Before appearing on Shark Tank, Qeepsake had already gained considerable traction. The service had thousands of active users and had successfully transformed countless digital entries into physical books.

Despite this, McNeils saw the opportunity to pitch on Shark Tank as a chance to increase its visibility, attract strategic partnerships, and secure additional investment for growth.

As they stepped onto the Shark Tank stage, they were driven by their belief in Qeepsake’s value and potential to help parents preserve precious family memories easily and conveniently.

How Was The Shark Tank Pitch Of Qeepsake?

Jeff McNeil, the co-founder of Qeepsake, pitched his product on Season 9 of Shark Tank, entering the tank with a request for a $350,000 investment in exchange for 10% equity in his company, valuing the Qeepsake at $3.5 million.

The premise of his pitch was simple yet compelling: time with children is precious, and preserving the memories they create is a challenge many parents face.

Qeepsake, a text-based service allowing parents to store memories and photographs and even create physical memory books, was his solution.

As the Sharks considered McNeil’s pitch, several expressed interest but had different concerns. Barbara Corcoran felt she could not provide the necessary help Qeepsake might need and decided to drop out.

Lori Greiner echoed a similar sentiment, citing concerns that she could not scale the business fast enough to meet demand, so she also dropped out.

Mark Cuban acknowledged that Qeepsake was a great product but felt the threat of competition was too significant, leading him to step away from the deal. 

On the other hand, initially bored with the pitch, Kevin O’Leary saw potential value in the concept and imagined its application within his existing portfolio of companies.

He offered $350,000 but wanted a 20% equity stake in Qeepsake, doubling McNeil’s initial offer. Guest Shark Chris Sacca also saw the value and matched O’Leary’s offer.

McNeil attempted to negotiate the terms, countering O‚ÄôLeary with $350,000 for 12% equity and Sacca with $350,000 for 14% equity. Both Sharks held firm at their initial 20% offer. 

McNeil, unwilling to part with such a significant stake in his company, ultimately declined their offers. Qeepsake left the Shark Tank without a deal, but the journey didn’t end there. 

After the show, Qeepsake continued to thrive. Despite not securing a deal on Shark Tank, the company raised over $900,000 from outside investors. The product offerings expanded, with options such as pregnancy journals and personalized books for each child.

Qeepsake was not only still in business but also made around $2 million annually and was valued at $5 million, demonstrating the potential Jeff McNeil had initially seen and the market’s need for such a service.

Final Deal: No deal between Sharks and Qeepsake.

What Happened To Qeepsake After Shark Tank?

Despite not securing a deal on Shark Tank, Qeepsake experienced significant growth and success following their appearance on the show. This growth is a testament to the compelling value proposition that Qeepsake offers to parents and the evident market need for such a service.

After their Shark Tank episode aired, Qeepsake welcomed over 100,000 new parents to their platform, demonstrating substantial customer interest. The sign-up rate also increased, with thousands of new parents joining the Qeepsake community weekly through the company’s website. 

In addition to this impressive user growth, Qeepsake continued to innovate and expand its service offerings. In April 2018, the company launched its first-ever mobile application.

This app was designed as a companion to the original text message-based service, offering an additional, convenient way for parents to interact with Qeepsake and preserve their children’s memories.

Qeepsake Shark Tank Update | Qeepsake Net Worth

Financially, Qeepsake showed resilience and attractiveness to investors. Since appearing on Shark Tank, they have succeeded in raising nearly $1.5 million in funding, including a significant round of equity financing that closed in May 2018.

This influx of capital indicated a strong belief in Qeepsake’s potential and allowed the company to continue growing and improving its services.

Finally, Qeepsake began to scale up its operations, advertising job positions on its website, including roles like a Growth Manager and a Project Manager. This expansion of the team indicated a commitment to continued growth and improvement.

Qeepsake’s journey after Shark Tank was marked by user growth, product development, successful fundraising, and team expansion, proving that a lack of a deal on the show doesn’t necessarily limit a company’s potential for success.

Qeepsake Shark Tank Update

After appearing on Shark Tank, Qeepsake, a digital baby journal app developed by Jeff McNeil, experienced significant growth and success.

Although Jeff did not secure a deal on the show, the exposure and publicity helped propel the business forward.

Following the Shark Tank appearance, Qeepsake raised over $900,000 in investments from outside investors, indicating a strong vote of confidence in the company’s potential. The additional funding enabled Qeepsake to develop its product further and expand its operations.

Qeepsake attracted over 100,000 active users after the show, demonstrating a significant increase in its user base.

The app’s user-friendly interface and innovative approach to recording baby memories resonated with parents seeking an easy and enjoyable digital journaling experience.

Qeepsake partnered with Punchbowl, the company behind an online invitation and digital greeting card platform. The investment from Punchbowl allowed Qeepsake to strengthen its board and benefit from the expertise of Punchbowl’s CEO and Founder, Matt Douglas, who joined Qeepsake’s Board of Directors as an Advisor-Observer.

Qeepsake received recognition and accolades for its innovative approach to digital baby journaling. While specific awards were not mentioned in the provided information, the app’s positive reception and high rating of 4.9 out of 5 on the App Store with over 11,100 ratings indicate a favorable response from users.

Qeepsake achieved an annual revenue of $2 million, showcasing the financial success of the business and its ability to generate substantial income. The revenue growth indicates that Qeepsake’s business model and subscription plans priced at $40 or $90 per year have resonated with its user base.

Qeepsake’s appearance on Shark Tank significantly boosted the company’s growth and success. Despite not securing a deal with the Sharks, Qeepsake attracted substantial funding, expanded its user base, formed partnerships, and achieved notable revenue figures.

The app continues to be praised for its user-friendly interface and remains a popular choice among parents seeking a convenient and innovative digital journaling experience for recording their baby’s memories.

Is Qeepsake Still In Business?

According to our research, Qeepsake is still in business. Despite not securing a deal on Shark Tank, Qeepsake has experienced growth and success in the years following its appearance on the show.

The app continues to provide a digital platform for parents to journal and document their child’s milestones and memories. Qeepsake has raised significant funding even after its Shark Tank appearance.

Qeepsake raised $2 million in seed funding, which has been utilized to enhance the user experience, invest in marketing and engineering teams, and explore monetization opportunities. This funding injection indicates the company’s ongoing operations and commitment to further development.

Qeepsake has made strategic moves to strengthen its position in the market. The company appointed Tracy Cho as its new CEO, indicating a leadership transition and focus on driving growth.

Additionally, Qeepsake secured an investment from Punchbowl, a company specializing in online invitations and digital greeting cards. Punchbowl’s CEO and Founder, Matt Douglas, joined Qeepsake’s Board of Directors as an Advisor-Observer, contributing valuable expertise in the family-tech space.

Qeepsake boasts a considerable user base, with over 700,000 registered users and 50 million memories saved. The app’s ability to attract and retain users indicates its ongoing popularity and utility among parents.

Qeepsake’s revenue generation and estimated net worth of $5 million further illustrate its continued success and financial viability. Qeepsake is still in business and actively serving its user base.

The company has secured funding, made key appointments, formed partnerships, and continues to provide a digital platform for parents to capture and store memories of their children. Its ongoing growth and success reflect Qeepsake’s enduring presence in the market of digital baby journaling apps.

What Is the Net Worth Of Qeepsake?

According to our research, Qeepsake’s net worth is estimated to be $5 million. The valuation of Qeepsake was $3.5 million when it appeared on Shark Tank.

4.9/5 - (7 votes)