Qeepsake Shark Tank Net Worth 2023
Qeepsake’s net worth was estimated to be $5 million in 2022. The company was valued at $4.2 million during its Shark Tank pitch, and has since increased based on outside investments.
Although Qeepsake did not receive funding from the Sharks, it received over $900,000 from other investors. It is unclear what the company’s net worth will be in 2023.
What is Qeepsake? Who is the Founder of Qeepsake?
Qeepsake streamlines the process of collecting memories of newborns by replacing traditional baby books with a digital baby notebook that utilizes text messaging.
Through this platform, parents receive questions via text message, which they can respond to and update their confidential baby notebook.
The founder of Qeepsake, Jeff McNeil, is a father of five and a resident of Auburndale, Massachusetts, who comes from a design background and previously owned a software design firm.
He created Qeepsake to help parents like himself record both significant and insignificant moments of their children’s lives using his technological knowledge.
Within two days of conceiving the idea, he had two developers working on it, and he built the platform himself as a web designer and developer. Jeff’s wife, Stephanie, who is a nurse, joined him in co-founding the company.
Many parents desire to make a baby notebook, but it can be challenging to find the time, especially with multiple children, like Jeff has.
Qeepsake simplifies the journaling process by sending two or four daily questions via text message about the child’s growth, which parents can easily respond to and upload a photo to the platform.
Qeepsake’s AI then builds a digital notebook that can be modified and eventually printed into a book.
There are two subscription options available, costing $40 or $90 per year, and users can also manually add photos and messages to the platform to commemorate milestones.
Qeepsake Shark Tank Pitch
Jeff McNeil presented his company to Shark Tank investors, seeking their help in reaching a wider audience with the products he had developed. His company was valued at $3.5 million, and he asked for $350,000 in exchange for a 10% ownership stake.
Jeff demonstrated how his products worked by creating books to show the Sharks. These books were printed copies of an online journal, priced between $29.99 and $44.99 depending on length. While they had only sold four books so far, they hoped to expand this area of their business in the future.
The company had over 40,000 active users, and 16% of them had converted to a subscription model, resulting in $250,000 of income in just four months.
However, Barbara chose to opt out of investing, while Mark saw potential competition in the future and decided not to invest. Lori did not believe she was the right partner for Jeff.
Kevin offered $350,000 for a 20% stake in the company, valuing it at $1.75 million. Jeff countered with a 12% equity share, but Kevin was offended and left the deal.
Chris then offered the same amount for a 20% equity share, but Jeff countered with a 14% equity share. Chris refused to sell his 20% stake, and Jeff rejected the offer. In the end, Jeff left the pitch without securing a deal.
Despite not securing an investment on Shark Tank, Qeepsake raised $900,000 shortly after the broadcast and had over 100,000 users. They also created an app to make things easier for consumers.
In June 2021, Punchbowl invested in the company and its CEO, Matt Douglas, joined the Qeepsake Board. The company is now generating $2 million in annual revenue.
Competitors of Qeepsake
Lifecake, Tinybeans and 23Snaps are Qeepsake top three competitors.
Net Worth of Qeepsake
The company was valued at $3.5 million during the pitch; in 2021 the company net worth is estimated at $5 million.
What is Qeepsake?
Qeepsake simplifies the process of gathering newborn memories. By employing text messaging, their digital baby notebook replaces traditional baby books.
The firm sends questions, and the parents’ confidential baby notebook is subsequently updated with the replies.
Who is the Founder of Qeepsake?
Qeepsake founder and father of five Jeff McNeil was a resident of Auburndale, Massachusetts, with his wife Stephanie and five children.
He has a design background and ran his own software design firm for over a decade.
What is his offer on Shark Tank?
Jeff McNeil was asking for $350,000 for 10% of the company in exchange for $3.5 million.
Did he get an offer?
No, Jeff McNeil did not get an offer on Shark Tank.
Is Qeepsake Available in Stores?
They are available in Staples and Brookstone, and they’ve also shipped to Australia and the United Kingdom. Consumers may also purchase through their website.
The price for a three-month subscription is $40, while a six-month subscription costs $80.
What happened to Qeepsake after shark tank?
Qeepsake is doing well in business. They raised $900,000 shortly after Shark Tank, had over 100,000 users, and are converting 16% to the subscription model. Today they have $2 million in annual revenue.
How much money is Qeepsake worth?
Qeepsake is currently valued at $5 million dollars. It was valued at $3.5 million during the pitch on Shark Tank.
Is Qeepsake secure?
All Qeepsake employees who have access to journal information have undergone a criminal background check as well as a sex-offender registry check.
They care about the security of their Personal Information, but keep in mind that no method of communication over the Internet, or technique of electronic storage, is completely safe.
How the business model?
There is a free and paid version of Qeepsake. The free version allows parents to keep their digital journal for as long as they want, but the paid version gives them the option to store photos and messages forever.
How much does it cost?
The business charges $40 per year for the digital notebook and $90 per year for an expanded one.
Customers may also purchase a printed book about their child’s growth at any time. Books start at $29.99 and can be purchased on both Apple and Android platforms.
Is it a scam?
Qeepsake is a legitimate business.
What is the net worth of Jeff McNeil?
Jeff Mc Neil’s net worth is estimated at $62 million.