What Happened to Beneath the Ink after the Shark Tank Pitch?
What is Beneath the Ink?
Beneath the Ink is a platform that enables authors to incorporate additional content in the text of their eBooks.
They can include history for characters, maps, images, and video – “anything that boosts the reader’s knowledge and engagement.”
Beneath the Ink refers to the additional information or additions as “binks.” Publishers can also use binks to promote other books by the author or relevant eBooks.
It does not require internet connectivity and interacts effortlessly with what you are reading. More information, maps, photos, and even 3D images may be revealed by highlighting text.
The goal is to improve the reading experience by making it more immersive and educational. Authors must make their books BINK-enabled, and they may add new content to their e-books by using an internet gateway.
Who is the Brains behind Beneath the Ink?
Sherisse Hawkins (CEO) and Alex Milewski founded Beneath the Ink in Chicago. Sherisse holds a BSc in Engineering from the University of Arizona and has previously worked as the vice president of a software development business at Disney.
At the time, Alex was a recent the University of Colorado graduate with an IT background. Julia maintains her declared position within the business.
In 2016, Alex left the firm to co-found Block 1750 in Boulder, Colorado. It is a community center where musically inclined young people may hang out and collaborate at a dance school.
In May 2012, the two created the company (formerly known as Cipher This) and secured $640,000 in early funding from Angel.co, a website managed by Barbara Corcoran.
The two met through professional connections and instantly envisioned Cipher This integrating word puzzles into e-books.
They moved their emphasis to Beneath the Ink after participating in a start-up accelerator. They were able to receive $300,000 in investment after participating in a University New Venture Challenge.
They also received a $250,000 state grant. However, as a pre-revenue start-up that had only been in existence for around two years, they had only been able to hire eight self-publishing authors.
What Happened to Beneath the Ink on Shark Tank?
Alex and Sherisse entered Shark Tank season with a $350,000 offer for a 10% stake in their business. This works out to a $3.5 million valuation.
After the business is explained, the questions begin. Mark wonders how time-consuming and expensive the annotating process is. The writers produce the notes using an online interface.
The company makes money by licensing licenses to big publishers, collecting a $12 monthly membership fee, and charging an export fee of $99 per e-book channel.
Barbara wondered how much an author would be prepared to spend to BINK their writing. Alex told her it would be less than a thousand bucks.
He continued by saying that they will take a portion of the royalties paid by the content owner for each copy sold.
Robert was eager to learn more about the organization. He questioned about last year’s sales.
Sherisse informed the Sharks that Beneath the Ink was at the pre-revenue stage, which is common for firms at that time.
Mark asked as to how long they had been in business. Sherisse claimed that they had been in business for two years.
She informed the Sharks that Beneath the Ink was able to raise $600,000 through fundraising. Lori looked to be taken aback.
They’ve only worked with Binks on eight titles thus far; Robert wonders whether they’ve lined up any “big” writers; they do.
Kevin O’Leary says the notion has not been thoroughly tested and poses a considerable danger. You’ve arrived a little too early.
Mark feels that current technologies are being expanded. He cautioned them that they’d need more money than he’d ever be willing to invest in Beneath the Ink. He departed, stating that they were having problems that they were unaware of.
Lori Greiner declines to invest, despite the fact that it looks to be a sensible and considerably superior reading experience. It’s really too complicated to advertise. She’s no longer there.
Barbara indicated that she did not believe in the company, but she is leaving anyhow.
Robert forewarned them that it would take millions of dollars to go where they needed to go, and that there would be no clear path to success. He took a step outside to wish them luck.
What Became of Beneath the Ink after the Shark Tank Pitch?
On the same day as its first air date, the company changed its name to Pagedip. They shifted their focus and evolved into a platform for subscription content management software.
As they entered the SaaS business, they became a profitable corporation. As of August 2021, they are presently making $2.5 million in annual revenue.
What is the Net Worth of Beneath the Ink?
Alex and Sherisse enter Shark Tank season with a $350,000 offer for a 10% stake in their business. This works out to a $3.5 million valuation.
Who are the Beneath the Ink’s Competitors?
There are no known competitors for Beneath the Ink.
Beneath the Ink FAQS
1. How do enable Binks?
Binks is enabled by Kindle. All they need to do is sign in and subscribe to Beneath the Ink. Each Kindle will have this software built-in, so they’ll be able to see Binks wherever the Kindle is compatible.
2. How Beneath the Ink do make money?
Beneath the Ink makes money by licensing their software to big publishers, collecting a $12 monthly membership fee, and charging an export fee of $99 per e-book channel.
3. How big is Beneath the Ink?
For personal use, Beneath the Ink works on iPads and iPhones with iBooks. They are working on creating a regular feature on Google Play Books.
4. Who are their competitors?
There are no known competitors for Beneath the Ink at present.
5. Where are they located?
What episode was Beneath the Ink featured on Shark Tank?
6. When was Beneath the Ink aired on Shark Tank?
The season was aired on April 17th, 2015.
7. Does Beneath the Ink requires electricity?
No, Beneath the Ink does not require electricity to operate.
8. Who founded Beneath the Ink?
Sherisse Hawkins and Alex Milewski founded Beneath the Ink in Chicago.
9. How much were Sherisse Hawkins and Alex Milewski seeking in the Tank?
Sherisse Hawkins and Alex Milewski were asking for $350,000 for a 10% stake in the business.
10. Did they get the deal?
No, all the Sharks decline to invest in Beneath the Ink.
11. What Happened to Beneath the Ink after the Tank?
On the same day as its first air date, the company changed its name to Pagedip. From then on, they restructured the business and shifted their focus and evolved into a platform for subscription content management software.
12. Is Beneath the Ink still in business?
Yes, as of August 2021, they are presently making $2.5 million in annual revenue.