Scan App, the next App featured on Shark Tank, was featured in episode 507 of Season 5.
QR Scan Code Generators have been used by over 40 million people worldwide!
BYU freshman Garrett Gee founded the company with fellow students Kirk Ouimet and Ben Turley while he was still in high school.
A smartphone application that creates scanning codes such as QR codes, NFC tags, and more can be used in virtually any application (“Scan to follow, like, or purchase”).
There are increasingly more scannable codes both online and offline. They’re often found at places like museums and coffee shops – nearly anywhere a company wants to provide information to consumers via their smartphone, which is everywhere.
Further, Scan App allows you to access and change the links generated by the software from your dashboard so that you do not have to generate new codes regularly.
What Is Scan App?
Scan is a mobile application development company situated in the Utah city of Provo in the United States.
Scan App is a company that develops goods and services for scannable things such as QR codes.
Physical codes, for example, QR codes and near-field communications (NFC), and machine-readable pictures, can be scanned using Scan’s products, which are smartphone applications.
Scan’s website says users can create Scan App QR codes and targeted codes that link to destinations such as social networking accounts, websites, and personal pages.
The company focussed largely on creating mobile and online solutions that would allow businesses and smartphone users to take advantage of mobile payment technology more straightforwardly and easily.
|Product / Business||Barcode scanner and QR reader app|
|Investment Asking For||$1,000,000 for 5% equity in Scan App|
|Final Deal||No Deal|
|Episode||Season 5 Episode 4|
|Business Status||In Business|
Who Is The Founder Of Scan App?
Garrett Gee, Ben Turley, and Kirk Ouimet are the founders of Scan App.
Garrett Gee, who founded Scan, came up with the idea when he received a smartphone for Christmas in 2009 and scanned a QR code.
He wished to develop better tools for the web and mobile for working with QR codes.
Gee wanted the assistance of fellow students Kirk Ouimet and Ben Turley to establish a company and launch the first iOS app in a student competition at Brigham Young University (BYU), where they placed second.
When Gee was still attending BYU, the trio approached investors and raised money.
Scan App has reached a milestone of 10 million iOS, Android downloads in all 77 countries, and one million iOS installs three months after its launch.
Approximately 25 million scans were downloaded by the end of 2012, and an average of 27 million scans were downloaded each month.
Scan App Before Shark Tank
Garrett Gee launched a scan App because he hoped to make an App that would be one of the top ten most downloaded apps in the apple store.
Garrett first encountered QR (quick response) codes in 2009 when he spotted one on a package and scanned it.
Although he appreciated the technology, he thought it might be better, so he improved it in collaboration with his classmates Kirk Ouimet and Ben Turley.
First, Garrett and his students acquired the domain name scan.me, which has become increasingly popular in recent months.
Garrett required money, just like any other firm hoping to expand. However, unlike many other entrepreneurs who applied to be on Shark Tank, Garrett actively sought investors before even applying to the show.
The fact that Garrett received more than $8 million from investors such as Google Ventures before being on the show shows his ability to come up with a brilliant idea and execute it successfully.
Garrett realized that these investors were offering so much more than just money, and he realized that he would be receiving a substantial return from the small amount of equity he granted them.
Garrett applied to Shark Tank with the mindset of continuing to grow and was accepted for season five.
How Was The Shark Tank Pitch Of Scan App?
Garrett appeared on Shark Tank seeking an investment of $1 million for a 5% equity in Scan App. He says that Scan is the quickest and most convenient technique to scan QR codes.
The Mission Belt QR code demonstrates how he can instantly link to the Mission Belt website, Twitter account, and other online resources.
The Scan app was free during the taping, but when it goes live on the night of the broadcast, it will cost $1.99.
According to the latest figures, 51 million apps are downloaded each month, and millions of scans are performed.
They’ve refined the app, but they need to figure out how to make it more profitable. The goal is to keep the app’s price as low as possible while charging businesses for the right to host their QR code data.
While Garrett explains how Google Glasses use the Scan application, Mark is concerned about the long-term viability of QR codes.
To understand how Scan differs from the other players, he wants to know what makes him special.
Garrett claims that he was inspired by Shark Tank when developing his venture capital negotiating technique, and he has raised $8.7 million to date.
Daymond says Garrett is just there for publicity; he doesn’t need the money, so he’s out. Lori says she is not a techie, and she is going out.
Robert does not believe it is proprietary, and Kevin does not believe there is a solid business plan, so both have left.
Garrett concludes with an emotional pitch of his own. On the other hand, Mark prefers sensors to read codes, and he’s gone.
Daymond says he is happy that Shark Tank is a source of inspiration for young entrepreneurs like Garrett, who walk away from the episode without a contract.
What Happened To Scan App After Shark Tank?
Scan App continues to grow despite the Sharks’ concerns and that the company did not receive investment.
The company currently has two free products: “QR Code Reader” available on Google Play and “Scan,” which can be purchased on the App Store.
The Shark Tank Effect, which fueled the growth of Garrett and all the other firms on the show, enabled viewers to scan the QR code while watching the show on TV!
Businesses can still produce QR codes by visiting the Scan website. However, Mark’s statement may be correct since the website and Scan’s social media accounts have not been updated for a long time.
Garrett exhibits all the qualities necessary to be a successful entrepreneur, especially at a firm with fierce competition.
Even without any secret information, he and his friends could still obtain cash and identify problems that the competition had overlooked, which required good judgment and risk management.
Garrett’s company had remained successful only because of his talents and dedication, especially when considering how young he was when he started the company.
The “QR Code Reader” App and the “Scan” App are both available for download in the App Store, charging a fee. If you wish to incorporate QR codes into your product, you can visit the Scan.me website.
Scan App Shark Tank Update
Garrett Gee did not successfully convince a Shark to invest in his Scan software, but he unintentionally tainted the Shark Tank.
The entrepreneurs cannot show the company’s website address when presenting on the show.
Even though Gee’s presentation didn’t provide a website address, it provided a scanning code. This code enables viewers to scan the image immediately from their television screen without leaving their reclining chairs.
Gee used the same code in the end to link to his Instagram account, even though it was a dummy code that linked nowhere when the show aired.
Customers took to Instagram after the show was re-aired, with some downloading the app and scanning the code while they were watching.
The app’s presence in the marketplace is continuing to grow. The simple app may not have caught the Sharks’ attention, but it is certainly making its way into customers’ hands.
Snapchat purchased Scan, Inc. for $54 million in December 2014, according to the company. It is customary for such transactions to remain discreet, but Sony Pictures was hacked, and the specifics of this transaction were revealed in the resulting files.
Garret and his family have been traveling the world since August of 2021, and they have become known as The Bucket List Family.
Is Scan App Still In Business?
The Bucket List Family shows how Gee dropped out of college and saved his newfound wealth before holding a garage sale in which he and his wife sold everything they owned, including automobiles, furniture, and clothing.
Gee was also a successful businessman with his wife. Their savings and the $45,000 they received from the transaction have allowed them to tour the world on a budget with their three children.
After traveling worldwide for three years, the Gee family has announced their return to Hawaii.