Postcard on the Run Shark Tank Net Worth 2023
Postcard on the Run Shark Tank Net Worth
The valuation of Postcard on The Run was $6 million when it appeared on Shark Tank. However, the Sharks believed that this was an overvaluation and that the company would fail.
Josh Brooks had already raised $1.3 million in previous investment funds prior to appearing on Shark Tank, and had sold $450,000 worth of postcards with 500,000 downloads of the free app.
Since appearing on Shark Tank in 2023, Postcard On The Run has not been mentioned as either the best or worst episode.
The website for Postcard On The Run is still accessible at http://www.postcardontherun.com, but it has not been updated since Josh Brooks appeared on Shark Tank. As of February 20, 2023, the net worth of Postcard On The Run is unknown.
What was Postcard on the Run? Who was the Founder of Postcard on the Run?
In 2011, Postcard on the Run was introduced as a combination of photo-sharing software and printing business.
It allowed users to select photos from their iPhones, add a personalized message, and have Postcard on the Run print and send them to the intended recipient.
These postcards included a code that could be scanned by the recipient’s phone to access additional video and audio content.
Postcard on the Run was founded by Josh Brooks, who attended the University of Arizona from 1994 to 1998 with the goal of working in the technology industry.
Brooks began his career as the head of marketing for Myspace, but after its popularity dwindled, he decided to create his own digital company.
He raised $1.6 million to launch On The Run Tech and partnered with Selena Gomez to establish Postcard on the Run, which received an investment of $750k from the celebrity singer to promote the product to her 16 million Twitter followers.
Postcard on the Run at the Shark Tank Pitch?
During the first episode of Shark Tank season 5, Postcard on the Run sought a $300,000 investment in exchange for a 5% stake in the company, resulting in a $6 million valuation.
The app allowed users to design a postcard by taking a photo, and the company would print and mail it to the recipient, with the option of including a scannable code to view a video clip.
Despite claiming to be a free service, users were charged $2.49 to send a postcard. While founder Josh Brooks had already secured investments and made $450,000 in postcard sales with over 500,000 app downloads, the Sharks were not convinced.
Mark Cuban and Kevin O’Leary felt the valuation was too high and declined to invest, while Barbara Corcoran didn’t like the written language on the back of the postcards.
Lori Greiner felt the technology was not proprietary. However, Robert Herjavec saw potential and made an offer of $300,000 for a 7.5% stake, which Brooks eventually accepted after bargaining.
Postcard on the Run struggled to compete with other similar apps and eventually discontinued its service on October 1, 2015. Brooks is now the Senior Vice President of Brand Strategy and Marketing at Jam City, a mobile gaming platform.
What was the Net Worth of Postcard on the Run?
Postcard on the Run appeared on Shark Tank in search of $300,000 in exchange for a 5% stake in the firm. This equates to a $6 million valuation.
She accepted an offer from Robert of $300,000 for 7.5% which brings the valuation to 4 million.
Postcard on the Run Shark Tank Update
Postcard on the Run is a mobile app that allows users to take a picture, create a postcard, and have it produced and sent through snail mail. The app also allows users to add audio and video via a scan bar or website link.
Postcard on the Run appeared on Shark Tank in season 5, episode 1 in 2013. The owner, Josh Brooks, was looking for $300,000 in return for 5% equity in the company. Selena Gomez was an investor and active user of the app. Robert Herjavec invested $4 million in the company.
After the Shark Tank appearance, Postcard on the Run continued to grow and bring in more sales. However, the company faced competition from hundreds of similar apps, making it difficult to maintain its market share.
The Postcard on the Run website has not been updated since Josh Brooks appeared on Shark Tank, and the last post was published at the end of December 2013. The Postcard on the Run app officially shut down in June 2015. As of 2022, Postcard on the Run is out of business.
Summary Table of Postcard on the Run Shark Tank Net Worth 2023
| TOPIC | SUMMARY |
| Valuation Of Shark Tank | $6 million |
| Investment Received On Shark Tank | $300,000 for a 7.5% stake |
| Founder | Josh Brooks |
| Product | A mobile app that allows users to create and send postcards with additional video and audio content |
| Sales Before Shark Tank | $450,000 |
| Downloads Before Shark Tank | 500,000 |
| Shark Tank Outcome | The investment received from Robert Herjavec |
| Post-Shark Tank Fate | Discontinued on June 2015 |
| Current Net Worth (As Of February 2023) | Unknown |
What Happened To The Postcard On The Run App After Appearing On Shark Tank?
Postcard on the Run was a mobile app that allowed users to create postcards from images on their phones and send them to recipients via snail mail.
The app appeared on Shark Tank in season 5, where founder Josh Brooks pitched the business and secured an investment from Robert Herjavec.
The investment helped the company elevate its brand and bring in more sales. However, Postcard on the Run shut down a few years after its appearance on Shark Tank.
According to the company’s website, the service has been discontinued as of 2022. The website is still accessible, but it has not been updated since Josh Brooks appeared on Shark Tank. The net worth of Postcard on the Run is unknown as of February 2023.
Brooks had spent nearly all of the money he raised before joining Shark Tank, and the company was struggling financially. The appearance on Shark Tank and investment from Herjavec helped sustain the company for a while, but it ultimately shut down a few years later.
How Does Postcard On The Run Work?
Postcard on the Run is a smartphone app that allows users to take a picture, add a message or caption, and send it to anyone as a postcard. The app was founded in 2011 by Josh Brooks as a photo-sharing software and printing business.
The postcards can include a scannable code that allows the recipient to view a video clip on their smart device. The recipient can easily scan the code or visit the website link to check out the audio or video sent to them.
Postcard on the Run is a free application, but it costs users $2.49 to send a postcard to someone else. The app provides a fun way to share photos with friends and family, and it has been used by celebrities such as Selena Gomez. The appearance on Shark Tank and investment from Robert Herjavec helped Postcard on the Run brand elevate and bring a lot more sales. However, as of 2015, Postcard on the Run is no longer in service.
In summary, Postcard on the Run was a smartphone app that allowed users to send postcards with photos and messages to anyone.
The app was founded in 2011 and included a scannable code that allowed the recipient to view a video clip on their smart device. While the app was popular and used by celebrities, it is no longer in service as of 2015.
What Was The Outcome Of Postcard On The Run’s Appearance On Shark Tank?
Postcard on the Run appeared on Shark Tank in season 5, episode 1, in 2013. The owner, Josh Brooks, was seeking $300,000 in exchange for 5% equity in the company, which was valued at $6 million.
The app allowed users to take a picture, create a postcard, and have it produced and sent through snail mail. Selena Gomez was an investor and active user of the app, and she even appeared on Shark Tank alongside Brooks.
Robert Herjavec made a deal with Brooks, promising $4 million for 50% of the company. However, Postcard on the Run ultimately went out of business in 2015, roughly two years after appearing on Shark Tank.
While Gomez’s public involvement with the company may have helped sustain its first few years of existence, hundreds of similar apps were present online, making it difficult for Postcard on the Run to maintain its market share.
What Was The Company’s Valuation During The Pitch?
Valuation is the process of assessing the total economic value of a business and its assets. The valuation of Postcard on The Run was $6 million when it appeared on Shark Tank. However, the Sharks believed that this was an overvaluation and that the company would fail.
It is a touchy subject that needs to be discussed as part of a pitch. Investors will be more likely to nod along when you give a valuation if you discuss the value you’ve already put into your company.
There are several methods used to value businesses, including book value, discounted cash flow analysis, market capitalization, enterprise value, earnings, and the present value of a growing perpetuity formula.
Startups can develop a process of valuation using value forecasts. A company’s valuation relies on the entire economic value of the whole business unit and takes into account investor agreements on how much the company is worth.
Investment bankers create pitch books that typically contain sections on the merits of the transaction, analysis of potential buyers or sellers, pricing and valuation information, as well as key risks to mitigate.
The valuation section might be only 1-2 slides in a short pitch book or 20+ slides in a longer one. The valuation analysis component can vary greatly in length, as well as the level of detail.
Is The Postcard On The Run App Still Available For Download?
The Postcard on the Run service was closed down on October 1st, 2015. However, the app still appears in both iTunes and the Google Play store, and the website is still active. It is possible to download the app and personalize a postcard by visiting the App Store.
The app has a 3.7-star rating on Google Play and a 2-star rating on the iOS App Store, and there have been complaints that the app doesn’t always function correctly and cannot be edited once applied to a custom postcard.
What was Postcard on the Run?
Postcard on the Run was a photo sharing software and printing business that debuted in 2011.
Postcard on the Run allowed users to choose photographs from their iPhones, add a personalized greeting, and Postcard on the Run would print and mail them to their recipient.
Who was the founder of Postcard on the Run?
Postcard on the Run is the brainchild of Josh Brooks.
How much was he seeking in the Shark Tank?
Postcard on the Run was seeking $300,000 in exchange for a 5% stake in the firm.
Who are the Competitors of Postcard on the Run?
Postcard on the Run was facing stiff competition in its market space from the following Companies; Chatbooks. Cheerz. ArtDeQo and Artifact Uprising.
Did he get a deal from the Sharks?
Josh Brooks accepted an offer from Robert Herjavec for $300,000 for 7.5% which brings valuation to be 4 million.
Why did Postcard on the Run go out of business?
Several competing applications have joined the market, making it difficult for Postcard on the Run to maintain its market position.
Where can they see Postcard on the Run online?
Postcard on the Run is no longer available.
When was Postcard on the Run founded?
Postcard on the Run was founded in 2011.
When was Postcard on the Run aired on the Shark Tank?
Postcard on The Run was aired on September 20, 2013 on Shark Tank.
Where was Postcard on the Run located?
Postcard on the Run was located in Los Angeles, United States.
How was Postcard on the Run making money?
Postcard on the Run was a free software, however sending a postcard to someone else cost $2.49.
Where is Josh Brooks now?
Josh Brooks is presently serving as Senior Vice President of Brand Strategy and Marketing at Jam City, a mobile gaming platform founded in 2010 by former MySpace co-founders Chris DeWolfe and Aber Whitcomb, as well as former 20th Century Fox executive Josh Yguado.
What is the net worth of Josh Brooks?
Josh Brooks’s net worth is unavailable.
