Qeepsake, a company that gained recognition on Season 9 of Shark Tank, has established itself as a leader in contemporary journaling, especially for parents seeking to craft personalized memory books for their children.
Qeepsake’s service seamlessly merges technology with sentimental value, allowing parents to document their children’s lives through engaging questions and prompts.
Qeepsake serves as a way to preserve memories for busy parents regardless of their busy schedules.
By leveraging a text-message-based journaling service, Qeepsake simplifies the process for parents, sending them daily prompts that inquire about their children’s daily experiences and milestones.
Parents can effortlessly respond to these prompts, with their answers automatically saved in their child’s Qeepsake journal.
Founded in 2016, Qeepsake functions as a digital baby book, enabling parents to capture and retain significant moments and milestones from their child’s journey from infancy to adulthood.
The mobile app sends daily prompts to encourage parents to record memories and respond to thoughtfully crafted questions about their children.
Qeepsake offers a highly interactive interface that streamlines the memory preservation process without the stress of remembering every detail.
Additionally, Qeepsake offers a concierge service, physical baby books, and a memory bank, providing a comprehensive solution for modern parents looking to cherish and revisit precious memories effortlessly.
Co-founded by Jeff McNeil, a former Google engineer, and his wife, Stephanie McNeil, in 2015, Qeepsake was born out of the couple’s shared passion for preserving family memories.
Jeff’s extensive background in the tech industry, including roles at Google and various Silicon Valley startups, equipped him with the skills needed to launch a tech-based company like Qeepsake.
Prior to their appearance on Shark Tank, Qeepsake had already garnered a significant following, with thousands of active users who had successfully transformed digital entries into physical keepsakes.
The opportunity to pitch on Shark Tank presented McNeils with a chance to enhance visibility, attract strategic partnerships, and secure additional investment for the company’s growth.
Driven by their belief in Qeepsake’s value and its potential to help parents effortlessly preserve precious family memories, the McNeils embarked on this exciting journey with determination and passion.
Jeff McNeil and Qeepsake on Shark Tank
Jeff McNeil, the co-founder of Qeepsake, appeared on Season 9 of Shark Tank seeking a $350,000 investment for a 10% equity stake in his company, valuing Qeepsake at $3.5 million.
His pitch revolved around the idea that time spent with children is invaluable, and preserving the memories they create poses a common challenge for many parents.
Qeepsake, a text-based service enabling parents to store memories photographs, and create physical memory books, aimed to address this need.
During the pitch, the Sharks showed mixed reactions. Barbara Corcoran and Lori Greiner opted out, expressing concerns about providing necessary support and scaling the business quickly.
Mark Cuban, while acknowledging Qeepsake’s value, cited fierce competition as a deterrent.
On the other hand, Kevin O’Leary and guest Shark Chris Sacca saw potential in Qeepsake, both offering $350,000 with a 20% equity stake.
McNeil attempted to negotiate but ultimately declined the offers, unwilling to part with a substantial portion of his company.
Despite leaving the Shark Tank without a deal, Qeepsake thrived post-show, raising over $900,000 from external investors.
The company expanded its product offerings to include pregnancy journals and personalized books, achieving an annual revenue of $2 million and a valuation of $5 million.
Qeepsake’s journey on Shark Tank showcased the vision McNeil had initially seen and the market’s demand for such a service.
The company’s success post-show highlighted its resilience and the value it brought to parents looking to cherish and preserve precious memories with their children.
Qeepsake’s Post-Shark Tank Success Story
Qeepsake, the digital baby journal app founded by Jeff McNeil, witnessed remarkable growth and achievements post its appearance on Shark Tank.
Despite not securing a deal on the show, Qeepsake experienced a surge in popularity and success, attributing this growth to the compelling value it provides to parents and the evident market demand for such a service.
Following their feature on Shark Tank, Qeepsake saw a significant influx of over 100,000 new parents joining their platform, showcasing substantial customer interest.
The sign-up rate spiked, with thousands of new parents becoming part of the Qeepsake community weekly through the company’s website.
Apart from the impressive user growth, Qeepsake continued to innovate by launching its first mobile application in April 2018.
This app served as a complementary tool to the original text message-based service, offering parents a convenient way to engage with Qeepsake and cherish their children’s memories.
Financially, Qeepsake proved its resilience and appeal to investors, raising close to $1.5 million in funding post its Shark Tank appearance. This funding boost reflected a strong belief in Qeepsake’s potential and empowered the company to expand and enhance its services further.
Moreover, Qeepsake embarked on scaling up its operations by advertising key job positions on its website, signaling a dedication to sustained growth and enhancement. This expansion of the team emphasized Qeepsake’s commitment to progress and improvement.
Qeepsake’s journey post Shark Tank was characterized by user growth, product innovation, successful fundraising, and team expansion, illustrating that a lack of deals on the show did not hinder the company’s path to success.
The app’s user-friendly interface and innovative approach to preserving baby memories resonated with parents, making Qeepsake a favored choice in the digital journaling landscape.
Qeepsake is still in business with an estimated net worth of $5 million. The valuation of Qeepsake was $3.5 million when it appeared on Shark Tank.
In conclusion, Qeepsake’s enduring success, strategic moves, and continuous growth highlight its stronghold in the digital baby journaling market. With a growing user base, notable partnerships, and significant revenue figures, Qeepsake’s journey post-Shark Tank showcases a thriving business that remains dedicated to serving parents and capturing the precious moments of childhood.
