EmergenSee Shark Tank Net Worth
The company was highly valued at $2.5 million during its pitch, however it unexpectedly closed its doors shortly after and its current net worth is therefore unavailable.
This unfortunate turn of events has unfortunately put the company’s financials in a state of flux, making it difficult to estimate their real value.
Investors who had put money into the company were unable to secure any returns, as all prospects suddenly disappeared with the shutdown.
What is EmergenSee?
EmergenSee is an app that allows users to share their location with friends, family members, and emergency services through live streaming and sharing. This app was created by Phil Reitnour and has a variety of features that can be used in times of crisis.
With the touch of a button, users can inform a pre-selected group of individuals of their emergency. The app can also switch smart phones into “stealth” mode to prevent them from drawing notice in dangerous situations.
When activated, EmergenSee will live stream audio and video from the user’s phone to their selected contacts, and a GPS locator will notify them of the user’s position. The app also saves medical information for first responders in an emergency medical kit, which can be accessed to provide essential personal information that can save lives.
EmergenSee is a free app, but users can opt to pay $8.99 per month to be linked to a 24/7 professional monitoring station. If this option is chosen, expert monitors will promptly notify first responders of the user’s location and situation.
The app also has the capability to work with numerous college campuses and campus police agencies to notify them of incidents. EmergenSee is now the most popular personal security app and is supported by Verizon Wireless.
Additional features of EmergenSee include stealth messaging after an incident is initiated, as well as a personal concierge service that allows users to schedule their return from potentially risky circumstances. An alarm will be triggered if the app is not deactivated.
EmergenSee is gaining popularity among college campuses and is also being used by realtors, large companies, individuals, and government organizations.
What Happened to EmergenSee at Shark Tank pitch?
In Shark Tank season 5 episode 5, the Fraijos, known as Veggie Mama and Veggie Papa, presented their business and sought a $75,000 investment in exchange for a 15% stake in their company, which had a value of $500,000. They distributed samples of their vegetable-based frozen pops, which cost $1.10 per packet and had a wholesale price of $2.25. They had made $30,000 in sales in the last few months.
Mark Cuban appreciated that Veggie Papa was more interested in growing the business than going to law school. Theresa Fraijo, one of the founders, revealed that they had invested a total of $140,000 in the business, with $30,000 coming from their own money and $110,000 from an investor friend.
Theresa worked full-time, while Robert was part-time and had a full-time job earning $67,000. Robert and Theresa were in charge of the machinery at the factory.
Mark expressed his dislike for the frozen food industry and walked out of the deal. Barbara Corcoran declined to invest as she thought the Fraijos had invested too much capital for the amount of sales they had generated.
Kevin O’Leary made an offer of $75,000 in exchange for a 50-cent royalty per unit until he recouped his $150,000 investment, followed by a royalty of 0.25 cents in perpetuity. Robert made an initial offer of $75,000 for a 20% stake and another $75,000 after a year for a total of $150,000 for a 25% stake.
Lori Greiner countered with $75,000 for a 20% stake, and Robert joined Lori with an offer of $150,000 for a 20% stake and a 20-cent royalty per unit.
The Fraijos rejected Robert’s initial offer, and he was later joined by Lori with their joint offer of $75,000 for a 20% stake with no royalties. However, Barbara Corcoran offered to eliminate the other Sharks and invest $75,000 for a 20% stake with no royalties, and Mark Cuban joined in to seal the deal.
Barbara fulfilled her promise to guide the business, and with the combined effort of Barbara and Mark, Veggie Mama grew to become a success. Their frozen pops were sold in more Whole Foods and Sprouts locations, as well as online.
Despite the competition among the Sharks, the partnership between Corcoran and Cuban proved to be the most fruitful for Veggie Mama. Unfortunately, the company closed down in December 2018, and Theresa Fraijo is currently the State of Colorado’s accounts payables manager.
Emergensee failed to fulfill its potential after failing to secure a deal, and unfortunately, one of its co-founders, Phil Reitnour, was found dead in the Schuylkill River in Philadelphia. He had sustained a single gunshot wound to the forehead, and it was later revealed that he was in debt amounting to $3 million.
Competitors of EmergenSee
The Emergensee competes with the following companies in the market space; Everbridge Emergency, OnSolve Emergency, xMatters Emergency, BlackBerry AtHoc and Alertus Technologies Emergency.
Net Worth of EmergenSee
The company was valued at $2.5 million during the pitch, since then the company closes its door and therefore the company net worth is unavailable.
What is EmergenSee?
EmergenSee is a live-stream and sharing app that allows users to share their location with friends, family members and first responders. If you are ever in need of help, EmergenSee can send out a call to 911 emergency services.
The EmergenSee app also saves medical information for first responders into an emergency medical kit, providing an essential source of personal information that can save lives during times of crisis.
Who is the founder?
Phil Reitnour was the founder of Emergensee.
How much was asking on Shark Tank?
Phil and Jason request $250,000 for 10% equity in their company.
Did he get the deal?
No, he didn’t get the deal.
Is EmergenSee still in business?
No, Emergensee is no longer in business.
How much was EmergenSee valued at?
Emergensee was valued at $2.5 million during their pitch. The company is now out of business, therefore its value is unavailable.
How much is EmergenSee?
The app is free, but they must pay $8.99 per month to be linked to the 24/7 professional monitoring station.
Can I still download the app?
Users can download the app from iTunes and Google Play Store.
What type of reviews has EmergenSee received so far?
The Emergensee has been rated 4 out of 5 stars on both iTunes and Google Play Store.
Is EmergenSee works?
Yes, it is.
What are the benefits of using EmergenSee?
EmergenSee offers the following benefits: The app enables users to send out a call for help in real-time and share their location with friends, family and 911 responders.
The Emergensee also lets users save a medical profile for first responders in order to save lives during times of crisis.
Is EmergenSee a scam?
No, it is not.
How safe is the app?
Emergensee has partnered with both Google and the University of Pennsylvania’s Telecommunications Program to ensure that all data is encrypted.
Are there any other benefits of using EmergenSee?
Emergency responders will also receive important information like user’s name, location, allergies and medical condition in case of an emergency.
How was the business model of EmergenSee?
The company offers a free trial and also charges $8.99 per month for their premium app with 24/7 professional monitoring.
How long is the trial period?
The trial period is for 30 days.
Was Emergensee profitable?
No, it wasn’t.
Where is the founder now?
Phil Reitnour was found shot to death in Philadelphia’s Schuylkill River.
What are EmergenSee user’s reviews on Google Play Store?
Some users said it does what it is promoted to do and it is very easy to use for everyone. One of the users said he has used other similar apps but he really like this app because of its design and ease of use.
Is any future plan for Emergensee to resume?
No, there is no plan.
How can I pay for EmergenSee?
Users can pay for the app using a credit card.
What is the availability of EmergenSee?
The app is available on both iTunes and Google Play Store.
Has there ever been any investigation by any government agency or law enforcement on EmergenSee?
No, there hasn’t been any investigation.
What is the net worth of Phil Reitnour?
The net worth of Phil Reitnour is unknown.