What Happened to Qeepsake after Shark Tank?
What is Qeepsake?
Qeepsake is a device makes it easier to collect infant memories. Their digital baby notebook replaces traditional baby books by utilizing text messaging. The company sends questions, and the parents’ private baby diary is updated with the answers.
Qeepsake’s founder and father of five children Jeff McNeil lived in Auburndale, Massachusetts, with his wife Stephanie and their five children.
He has a design background and formerly owned and operated his own software design business for over a decade. Jeff finally became disinterested in that enterprise.
He indicated a wish to rediscover his roots. Jeff was aware of a number of major and trivial incidents involving his children that were not always noted or documented.
He wished to use his technological skills to assist himself and other parents in resolving that issue.
Who is Qeepsake’s inventor?
Qeepsake founder and father of five Jeff McNeil lived in Auburndale, Massachusetts, with his wife Stephanie and their five children.
He has a design background and formerly owned and operated his own software design business for over a decade. Jeff finally became disinterested in that enterprise.
He indicated a wish to rediscover his roots. Jeff was aware of a number of major and trivial incidents involving his children that were not always noted or documented.
He wished to use his technological skills to assist himself and other parents in resolving that issue.
Jeff had two developers working on it and a specification made up within two days of coming up with the idea.
Jeff McNeil used his skills as a web designer and developer to create the platform. Since 2004, when he graduated from Hampshire College, he has been building websites.
Stephanie, a registered nurse, joined him in co-founding the business. Making a baby notebook is something that many parents want to do but don’t have the time to do, especially if they have five children, like Jeff McNeil does.
Qeepsake makes journaling easier by leveraging the ubiquitous usage of text messaging. Every day, it sends two questions to your phone on your child’s development.
He just answers the questions and uploads a photo, and Qeepsake AI creates a digital notepad for you that you may customize. When they are ready, they can print a book about it.
There are two subscription options: one costs $40 per year and sends two questions per day, while the other costs $90 per year and sends four questions each day.
Furthermore, users are not need to be prompted. If their kid accomplishes a milestone, such as losing his first tooth, parents may SMS a photo and message to the platform.
What happened to Qeepsake’s proposal on Shark Tank?
After creating the goods, Jeff McNeil proposes his company to Shark Tank investors for help in getting them to the public.
Jeff McNeil joins the Tank searching for $350,000 for a 10% stake in his company, worth $3.5 million.
He explains how everything works before creating booklets to show the Sharks. The volumes are printed versions of the online magazine, and their prices range from $29.99 to $44.99 depending on length.
Similarly, they’ve only sold four books so far; it’s a sideline that they’d want to expand on in the future.
They also have over 40,000 active users, are moving 16% of their users to the subscription model, and have earned $250,000 in four months.
Barbara was left because she does not see how she can contribute to the company’s growth. Meanwhile, Kevin offers $350,000 for a 20% stake in the firm, which worth $1.75 million.
Mark feels that if Qeepsake becomes well-known, he would face a slew of competitors, therefore he will exit.
Lori isn’t sure whether she’s the right wife for Jeff, so she’s out. Jeff McNeil rejects Kevin’s offer of $350,000 for a 12% stake in his company.
Chris makes a $350,000 offer for 20% equity shares, and Jeff McNeil replies with 14% equity shares. Kevin was immediately insulted and retracts from the deal.
Chris refuses to give his 20% ownership in the firm, and Jeff turns down the offer. Finally, Jeff McNeil walked away from the pitch without a deal.
What became of Qeepsake after Shark Tank?
Despite the fact that it did not leave Shark Tank with a deal, the company is doing well in business. Qeepsake has over 100,000 users and raised $900,000 immediately after broadcasting.
In addition, the company developed an app to make things easier for customers. Punchbowl made a June 2021 investment in the company, and Punchbowl CEO and Founder Matt Douglas was appointed to the Qeepsake Board. The company’s yearly revenue is currently $2 million.
Lifecake, Tinybeans, and 23Snaps are the top three competitors of Qeepsake.
Qeepsake’s net worth
During the pitch, the firm was valued at $3.5 million; by 2021, the company’s net worth is expected to be $5 million.
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Qeepsake FAQs
What is the meaning of Qeepsake?
The name of the platform comes from a word that means ‘to keep track’, or as a custom to write down notes, and in this case, baby notes.
Is Qeepsake a mobile app or web-based?
Qeepsake is both mobile and web-based, which means that user can access it on their phone or laptop.
What does Qeepsake do?
Qeepsake allows user to make a digital baby book with text messages and photos. Using their AI technology, it integrates their information and makes it available to them in an easy-to-use digital format.
How do you register for Qeepsake?
There are two subscription options: one costs $40 per year and sends two questions per day, while the other costs $90 per year and sends four questions each day.
The user uploads an image or video that represents a milestone, such as tooth loss, or identifies a point in the development of their child’s life and it is converted into a digital book. The Qeepsake team can then print a customized book for the user.
How does Qeepsake make money?
Qeepsake makes money by charging a subscription fee per month for the service.
What is the age using Qeepsake?
The age range is from birth to 13 years.
What is Qeepsake’s claim?
Qeepsake’s claim is that the platform helps parents share their experiences and provides a space to monitor their child’s development.
The app offers an unbiased place where children may maintain a daily record of their progress, rather than letting media companies or family members dictate what they are taught.
Does Qeepsake really work?
Qeepsake users have produced books for their children. Many people find that the recorded notes that are sent to them are very useful for them to make a notebook.
How to get Qeepsake?
Users can go to Qeepsake official website: https://www.qeepstakes.com.
How is the business model of Qeepsake?
The Qeepsake platform charges a subscription fee for the service.
Is Qeepsake backed by the founder of Punchbowl?
No, Punchbowl was one of the investors. The company is not between Punchbowl partners and it is not part of their group.
