Autio (Travel App) Shark Tank Net Worth 2023/What Happened To Autio (Travel App) After The Shark Tank?
What Is An Autio (Travel App)? Who Is The Founder Of Autio (Travel App)?
Autio is a travel companion app that offers location-based audio stories to enhance your travel experience.
The app has over 10,000 audio vignettes that are generally 2-3 minutes in length and tell the history around you, painting a multi-dimensional picture you’re unlikely to get from a history book or visitor’s guide.
Autio uses geolocation to track your location and share relevant information about the place, the people, and the history of the region.
Autio was co-founded by Kevin Costner and was previously known as HearHere before it was re-launched as Autio in 2022. The app can be used during road trips as part tour guide and part mini-podcast. It offers a combination of fun facts and deep dives via easily digestible audio clips that can be listened to while driving through different places.
In 2022, the company’s sales amounted to $700,000, while in 2021, they were $210,000. The app is currently on track to generate $2 million annually.
The company has raised $3.5 million and has 210,000 registered users, out of which 15,000 are paid members. Additionally, the app has been downloaded 0.5 million times, and 70% of users renew their subscriptions. While the initial customer acquisition cost was $38, it has now dropped to $10.
During their appearance on Shark Tank, all the sharks declined to invest except for Kevin O’Leary, who offered $1 million for 15% equity.
The company’s founder, Woody, countered with an offer of $1 million for 6.5% equity, which Kevin O’Leary declined. He countered Woody’s offer with 12% equity, to which Woody responded by offering 7% equity.
Kevin made another offer of 10% equity, but Woody refused to go above 7%, and as a result, no deal was made on the show.
What Happened To Autio (Travel App) At The Shark Tank?
Autio appeared on Shark Tank season 14 episode 17, where founder Woody Sears asked for $1 million for 5% equity.
In 2022, the business generated $700,000 in sales, while in 2021, the sales were $210,000, resulting in an annual run rate of $2 million. The company has raised a total of $3.5 million, and the app has 15,000 paid members, 210,000 registered users, and 0.5 million downloads.
The app boasts a 70% renewal rate for paid subscribers, and the cost of customer acquisition has decreased from $38 to $10.
On Shark Tank, all the investors except Kevin declined to invest in the business. Kevin offered $1 million for a 15% stake, which Woody countered with a $1 million offer for a 6.5% stake. Kevin then countered with a 12% stake offer, to which Woody countered with a 7% stake offer.
Kevin made a final offer of 10% equity, but Woody was unwilling to go beyond 7% equity. Consequently, no deal was reached on Shark Tank, and Autio was unable to secure an investment.
What Happened To Autio (Travel App) After The Shark Tank?
Founder Woody Sears appeared on Shark Tank season 14 episode 17 to showcase his business to a panel of sharks. He asked for $1 million for 5% equity, leaving the sharks surprised. He valued his business at $20 million.
After appearing on Shark Tank, Autio experienced significant growth and success in both retail and online markets.
Autio (Travel App) Shark Tank Net Worth 2023
The estimated net worth of Autio, a travel app that was pitched on Shark Tank, is $20 million as of 2023. The startup was founded in 2020 and has raised an estimated $4.8 million in funding so far.
During the pitch on Shark Tank, co-founder Woody Sears asked for $1 million for 5% equity, which surprised the sharks.
Autio is an app that helps travelers learn about the history and stories related to specific locations. The sharks had a lot of discussion about the business idea during the pitch.
Is Autio (Travel App) Still In Business?
Yes, Autio is still in business as of March 2023. Autio is a travel app that provides location-based audio stories for travelers. The app was founded in 2020 by Woody Sears, Bill Werlin, and Kevin Costner.
Autio has over 10,000 location-based audio stories from coast-to-coast. The app has been featured in Forbes, TechCrunch, NBC, Business Insider, Travel + Leisure & Goop.
Autio has raised a total estimated $4.8 million funding since its launch in 2020. The current estimated worth of Autio is $20 million. Autio’s central purpose is to optimize discovery by offering limitless ways users can enjoy audio for travel. The company’s mission is to provide accessible and user-friendly content for all travelers.
In June 2022, HearHere (the Kevin Costner founded mobile audio entertainment app) rebranded to Autio. Autio will continue to offer location-based storytelling with the company doubling down on their mission: audio for travel.
In addition to the rebranding, the company partnered with JetBlue to provide passengers with access to more than 250 stories from some of your favorite voices including basketball player Phil Jackson, actor John Lithgow and Kevin Costner himself.
