Rocketbook Shark Tank Net Worth 2023
The acquisition of Rocketbook for a total of $40 million has proven to be a great success, making Rocketbook one of the most highly recommended notebook alternatives for those seeking to take notes digitally.
With its innovative design and easy-to-use app, Rocketbook offers users the freedom to have their hand-written notes digitized and organized quickly, allowing them to access their notes from any device or platform.
What is Rocketbook?
The Rocketbook represents a significant advancement in the world of notebooks by combining the familiar experience of writing with a pen on paper with the flexibility of accessing your notes from anywhere.
By utilizing the Rocketbook App, you can connect the innovative reusable notebook to the cloud, enabling synchronization with various platforms such as Google Docs, Dropbox, Evernote, iCloud, Slack, Box, and email.
The Rocketbook is an ideal tool for taking notes, drawing, making lists, outlining diagrams, delivering presentations, or any other task that comes to mind.
Who is the Founder of Rocketbook?
Rocketbook was established by Jake Epstein and Joe Lemay. Epstein holds a degree in Electrical and Computer Engineering from Purdue University, while Lemay earned his MBA from the Massachusetts Institute of Technology in 2006.
Prior to Rocketbook, Epstein co-founded several companies and worked as a Hardware Design Engineer. On the other hand, Lemay currently serves as an Account Executive at salesforce.com. Today, Rocketbook is still under their leadership, with Epstein as the Chief Innovative Officer and Lemay as the CEO.
The idea for the Rocketbook was sparked in 2013 when co-founder Joe LeMay forgot to bring a critical notepad to a sales meeting. This experience motivated him to find solutions that would enable him to access his notes from anywhere, without ever having to face a similar situation again.
In late 2014, he met Jake Epstein and proposed the idea for a “cloud linked paper notepad,” which Epstein was excited to pursue.
They started working on the concept the next day, and in 2015, they launched their Kickstarter and Indiegogo crowdfunding campaigns for the Rocketbook Wave, the first microwavable notebook edition.
The crowdfunding campaigns raised over $1.8 million, which was used to produce the first wave of the Rocketbook for their 28,000+ supporters.
By the summer of 2016, the Rocketbook Wave and its accessories were available for purchase on Amazon and the company’s website. The notebook became Amazon.com’s best-selling notebook by the end of 2016.
In April 2017, Rocketbook started a crowdfunding effort for the Rocketbook Everlast, which became the number one office/school product in crowdfunding history, with over 42,000 backers raising over $2.7 million.
What happen to Rocketbook at the Shark Tank Pitch?
Jake and Joe made an appearance on season 8, episode 24 of Shark Tank, seeking a $400,000 investment for a 10% stake in their company. This would value their company at $4 million.
During their pitch, they showed the Sharks their innovative product, the Rocketbook, and asked Robert to place it in the microwave while they handed out samples.
Each Rocketbook is priced at $27, and they have already sold $2.2 million worth of them, which caught the Sharks’ attention.
When the microwave finished, Jake and Joe showed the Sharks that the Rocketbook was now empty, which impressed them. Joe explained the science behind the Rocketbook’s operation, including the development of a microwave-safe notepad and pending patents.
However, some Sharks had concerns. Barb was impressed but worried that it might be a gimmick that would lose its appeal after a few years, while Kevin was more concerned with the reusability of the product. Lori felt that the process of photographing each page, microwaving it, and sprinkling water on it would wear off quickly.
Mark was not convinced by their vision of creating digitally enabled paper and office products and decided not to invest. Ultimately, they left the Shark Tank without a deal for their Rocketbook notebook.
Rocketbook after the Shark Tank Pitch
The Rocketbook brand has expanded its product range from its original offering, the Rocketbook Wave, which was featured on Shark Tank. They have since released the Rocketbook Everlast and the Rocketbook Colour. The Rocketbook Everlast is priced at $34 and features pages made with a special fiber that can be erased with a damp cloth.
The Rocketbook Colour also includes this special fiber, but can be cleaned using crayons, markers, and colored pencils. It costs $22 and contains 12 pages.
In addition, the Rocketbook One is now available as a one-time use notebook priced at $12. The website clarifies that this product is not microwave-safe and cannot be reused, but you can still upload an archive using the Rocketbook App.
The Rocketbook Wave, which remains available for purchase at $27, can be bought in a three-pack to save money, costing $72. The company was acquired by pen manufacturer BIC for $40 million in December 2020.
Rocketbook Net Worth
The Company was acquired for a total of $40 million.
Rocketbook Competitors
Rocketbook alternatives and competitors are as follows; Stickies Capture by Miro, Moleskine Smart Notebook and Brill.
Rocketbook FAQS
What is Rocketbook?
The Rocketbook is a notebook technology innovation that combines the independence of a traditional pen and paper notepad with the ease of accessing their notes from any location.
The Rocketbook App connects the smart reusable notebook to the cloud, which is linked with Google Docs, Dropbox, Evernote, iCloud, Slack, Box, and email.
Who is the founder of Rocketbook?
Jake Epstein and Joe LeMay are the founders of Rocketbook.
How much was they asking in the Shark Tank?
They were seeking $400,000 for 10% of their business.
Did they get the deal from the Shark Tank?
They did not receive a deal in the Shark Tank.
Is Rocketbook still in business?
Epstein and Lemay decided to sell Rocketbook to Bic, a consumer manufacturing business best known for lighters and ballpoint pens, for $40 million in March of 2020.
Rocketbook is currently a wholly owned subsidiary of Bic.
What’s the difference between executive and letter Rocketbook?
The only real distinction is the size. The Letter is 8.5 x 0.5 x 11 inches, while the Executive measures 6 x 0.5 x 8.8 inches.
Did BIC buy Rocketbook?
BIC has acquired 100% of Rocketbook, a Boston-based maker of cloud-connected, smart, and reusable notebooks and accessories, in a $40 million deal designed to combine each company’s technology and expertise in order to “extend the global accessibility of digital writing.”
Is Rocketbook publicly traded?
The company is listed on “Euronext Paris,” is a component of the SBF120 and CAC Mid 60 indexes, and is known for its dedication to sustainable development and education.
CDP awarded it an A- for Leadership.
Rocketbook is reusable in what way?
When they’re finished writing on a page, they can wipe away the ink with a damp cloth. This basically allows them to reuse the notebook an endless number of times.
The ink from the pen, along with the surface of the Rocketbook, allows them to erase their writing.
Is it possible for them to have two Rocketbooks?
When consumers select Google as their destination, the Rocketbook App allows them to create several accounts.
How many times can they use their Rocketbook?
Rocketbook Wave may be wiped in the microwave up to five times. To get the most out of their book, they recommend waiting until they’ve filled all of the pages before erasing.
Do Rocketbook pens run out of ink?
They eventually run out of ink.
Is Everlast lined Rocketbook?
Rocketbook Everlast Executive Smart Reusable Notebook with Pen – Neptune Teal – Lined.
When was Rocketbook aired on Shark Tank?
The Rocketbook was aired May 12th, 2017 on Shark Tank.
What episode of Shark Tank was Rocketbook featured?
It was on season 8 episode 24.
What is the net worth of Jake Epstein?
Jake Epstein’s net worth is unavailable.
What is the net worth of Joe LeMay?
Joe LeMay’s net worth is unavailable.
