Flag shark tank Net Worth 2023
The net worth of Flag App is unknown as of March 2, 2023. Flag App was founded by Savannah Cowley and Samuel Agboola in 2014 and appeared on Shark Tank USA in April 2017. At the time, the valuation of Flag App was $7.5 million.
In 2014, Flag App raised funds through a crowdfunding platform called Kickstarter and exceeded their goal of $10,000 by raising $169,187 from more than 5,000 individual backers.
However, due to an overwhelming number of subscribers, they had to pull everything offline until they reorganized and regained control.
After appearing on Shark Tank, the popularity of Flag App skyrocketed.
The founders started another Kickstarter campaign and successfully raised $331,949, but some backers were not happy since the product was not delivered. As of March 2, 2023, the net worth of Flag App is unknown.
What is Flag? Who Founded Flag?
Flag is a photo printing application that is completely free for users. It allows them to receive up to 20 copies of their images each month in various forms, including circles and triangles, at a professional grade.
The company provides the free prints by showing targeted advertisements on the back of the image along with a caption.
Users need to purchase the software for $9.99, but everything else is included in the price, such as shipment and packaging. If they require more than 20 photographs every month, they can upgrade.
The creators of the Flag Photo app are Savannah Cowley and Samuel Agboola from Santa Clarita, California. They recognized the challenges that families face while capturing their children’s photos and came up with the idea for a picture printing app to address this problem.
Flag was launched in February 2014 after a successful Kickstarter campaign that raised $169,187. However, the app’s final product rollout experienced several delays and was only released in June 2016, more than two years after the Kickstarter campaign.
To make the model work, Flag required advertisements, and it has accumulated over 1,500 paying sponsors, including SquareSpace and VISA.
In exchange for free picture prints, users agree to have an advertisement on the back of their photographs, which ensures that the advertisement won’t be discarded.
Flag does not sell user names, addresses, or other identifying information. However, it does share the EXIF data, zip code, and content of the photo with ads.
Flag Shark Tank Pitch
In season 8 episode 21, Savannah and Samuel are offering a 5% stake in their company for $375,000, indicating a $7.5 million valuation. They showcase their business and share sample photos with the Sharks.
Mark wonders why other businesses like Shutterfly haven’t pursued this concept, to which Sam explains that he uses laser printers, which Shutterfly does not.
Savannah claims they have earned $150,000 from advertising sold to big companies like Visa in the past three months. They have been in the market for three months and have been sending out 80,000 to 100,000 images every month.
The Sharks are surprised when Sam reveals he has already raised $1.6 million, and Kevin and Mark question why they need additional funding.
When Sam mentions they are looking to raise another $3 million, the Sharks become hesitant.
Barbara does not believe in the numbers and thinks it would take a significant amount of investment to make it work. Kevin doubts that sponsors will return, and Lori has had a bad experience with a similar device.
Mark thinks they are juggling too many things, and the hurdle is insurmountable.
When Sam mentions that the first twenty prints are free, Chris Sacca becomes upset and refuses to do business with companies that engage in out-of-touch advertising and waste money.
Although they launched a second Kickstarter campaign, which raised $331,949, the company ceased operations and removed the app from the app store.
As of May 2021, they have not delivered anything, and over 1500 angry comments on the Kickstarter page are asking for updates on their money. Flag Photo Printing is no longer in business.
Flag Net Worth
Savannah and Samuel are asking $375,000 for a 5% stake in their firm in season 8 episode 21. This indicates a $7.5 million valuation.
Flag Competitors
Groovebook is a competitor of Flag.
Flag FAQS
What is Flag?
Flag is a free photo printing app. The app allows you to receive up to twenty free copies of your images each month.
The prints are produced to a high professional grade and are available in a variety of forms, including circles and triangles.
The firm is able to provide them for free by selling targeted advertisements that show on the back of the image alongside a caption.
Who is the founder of Flag?
The app Flag Photo was created by Savannah Cowley and Samuel Agboola of Santa Clarita, California.
How much was they seeking in the Shark Tank?
They’re asking for $375,000 for a 5% stake in their firm. This indicates a $7.5 million valuation.
Did they get the deal from the Shark Tank?
No. Sharks was unable to invest in Flag.
Is Flag still in business?
No. After appearing on the show, the app was removed from the app store. Flag is no longer in business.
Was Flag free?
Yes, Flag is completely free to download and use.
When was Flag aired on Shark Tank Pitch?
Flag was aired on April 14th, 2017.
What episode of Shark Tank was Flag featured?
Flag Photo was featured on episode 21 of season 8.
When was Flag released?
Flag launched in February 2014 after a successful Kickstarter campaign raised $169,187. Since then, several delays have occurred in the final product’s rollout.
Where was Flag located?
Flag was based in Santa Clarita, California.
How much was Flag charging
Sam noted that the cost was one dollar each advertisement.
What happened to Flag Shark Tank?
They launched a second Kickstarter shortly after appearing on the episode, raising $331,949. Shortly thereafter, the firm ceased operations and the app was removed from the app store.
They have not delivered anything as of May 2021, and there are over 1500 furious comments on the Kickstarter page.
What is net worth of Savannah Cowley?
Savannah Cowley’s net worth is unavailable.
What is net worth of Samuel Agboola?
Samuel Agboola’s net worth is unavailable.
