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 happens 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 alternatives and competitors are as follows; Stickies Capture by Miro, Moleskine Smart Notebook, and Brill.
Rocketbook Shark Tank Updates
In Season 8 Episode 24 of Shark Tank, Joe, and Jay appeared seeking $400,000 for 10% of their reusable smart notebook, Rocketbook.
The Rocketbook is a notebook that can be used like a regular notebook, but everything in it gets uploaded to the cloud with an accompanying smartphone app.
The version they pitched in the episode could be erased by going into the microwave. Mark Cuban offered them $400,000 for 20% of the company, but they declined the offer.
Since appearing on Shark Tank, Rocketbook has launched six smart notebooks and generated over $15 million in revenue in 2018.
In December 2020, the company was acquired by pen maker BIC for $40 million. The Rocketbook Everlast, one of their products, can be wiped clean with a damp cloth and is Amazon’s Choice for “digital notepads” and “wirebound notebooks”.
The Rocketbook is advertised as a cloud notebook because notes can be scanned and instantly uploaded to the cloud. The Rocketbook is a useful tool in an increasingly digital world.
Rocketbook Shark Tank Table Summary:
|Jake Epstein and Joe Lemay
|Reusable smart notebook with an app that can digitize and organize handwritten notes
|Shark Tank Pitch
|Sought $400,000 for a 10% stake in the company
|Shark Tank Outcome
|Left without a deal
|A notebook with erasable pages made with a special fiber that can be erased with a damp cloth
|A notebook with erasable pages that can be cleaned using crayons, markers, and colored pencils
|A one-time-use notebook that is not microwave-safe and cannot be reused
|Acquired by pen manufacturer BIC for $40 million in December 2020
|Stickies Capture by Miro, Moleskine Smart Notebook, and Brill
What Is Rocketbook Shark Tank?
Rocketbook is a reusable smart notebook that allows users to upload their notes to the cloud with an accompanying smartphone app. The notebook can be erased by microwaving it, and there are now two versions of Rocketbook: the Rocketbook Wave Notebook and the Everlast Notebook.
In Season 8 Episode 24 of Shark Tank, Rocketbook co-founders Jake Epstein and Joe LeMay appeared seeking $400,000 for 10% of their company.
Although they did not secure a deal on the show, they went on to raise over half a million dollars on Kickstarter to get their product off the ground. Since then, they have developed several new versions of the Rocketbook, including one that can be wiped clean by being moistened with a damp cloth.
Rocketbook has become a successful product despite not securing a deal on Shark Tank. In May 2019, Rocketbook celebrated its two-year Shark Tank anniversary and was featured in a Shark Tank blog post about the top pitches that didn’t get a deal.
The company has continued to develop digitally-enabled paper and office products, and its co-founders have had the last laugh.
How Does Rocketbook Shark Tank Work?
Rocketbook is a smart, reusable notebook that allows users to upload their notes to the cloud with an accompanying smartphone app.
The Rocketbook notebook has seven symbols at the bottom of each page, and users can scan their notes with the Rocketbook app to instantly blast those notes to popular cloud services, which are then organized for them.
The Rocketbook notebook is erasable and reusable for up to five times, and users can erase the notebook by wiping it clean or by putting it in the microwave.
Jake Epstein and Joe LeMay pitched Rocketbook on Shark Tank in episode 826, asking for $400,000 for 10% equity. At the time of their pitch, they had sold around $2.2 million worth of Rocketbooks in a relatively short amount of time.
However, none of the sharks invested in Rocketbook. Kevin O’Leary had doubts, Barbara Corcoran believed that Rocketbook was a gimmick, and Robert Herjavec went out.
Lori Greiner liked how Rocketbook reinvented the notebook, but she thought there were too many steps involved and dropped out.
Despite not getting a deal on Shark Tank, Rocketbook went on to raise over half a million dollars on Kickstarter to get the product off the ground.
Within two years of being on Shark Tank, Rocketbook went on to sell over $10 million worth of its products and is now one of the biggest “misses” of all time on the show.
What Happened To Rocketbook After Shark Tank?
Rocketbook is a smart, reusable notebook that allows users to access their notes online while still keeping things simple for people who prefer making notes using pen and paper.
The notebook sends all notes to the cloud and erases itself when microwaved. Rocketbook appeared on Shark Tank in 2016, seeking $400,000 in exchange for a 10% ownership in their business. However, none of the sharks invested in the company.
Despite not landing a deal on Shark Tank, Rocketbook became much bigger than expected after the episode aired. In December 2020, Bic acquired Rocketbook for $40 million. The Rocketbook product range has expanded beyond the initial Rocketbook Wave, as shown on Shark Tank.
They now have the Rocketbook Everlast as well as the Rocketbook Colour. The Rocketbook Everlast is designed with a unique fiber in the pages that allows the pages to be wiped using a damp cloth. The Rocketbook is available on Amazon and its website.
What Happened To Rocketbook After Shark Tank?
Rocketbook, a smart, reusable notebook that uploads everything written in it to the cloud with an accompanying smartphone app, appeared on Shark Tank in 2017. The entrepreneurs, Jake Epstein, and Joe LeMay, asked for $400,000 for 10% equity but did not receive a deal.
Despite not receiving a deal, Rocketbook continued to develop new versions of their product, including one that could be erased with a moist cloth. In December 2020, Bic acquired Rocketbook for $40 million.
Rocketbook is now one of the most highly recommended notebook alternatives and is sold on Amazon.
The acquisition by Bic has allowed Rocketbook to expand its reach and continue to develop digitally-enabled paper and office products. The success of Rocketbook after Shark Tank shows that not receiving a deal on the show does not necessarily mean the end of a business.
Is The Rocketbook Shark Tank Still In Business?
Rocketbook appeared on Shark Tank in Season 8 Episode 24, seeking $400,000 for 10% equity in their reusable smart notebook. The sharks were impressed with the product, but ultimately, no deal was made.
Despite not receiving an investment from the sharks, Rocketbook went on to sell around $2.2 million worth of notebooks in a relatively short amount of time.
In December 2020, Bic acquired Rocketbook for $40 million. Rocketbook is now one of the most highly recommended notebook alternatives for note-taking and drawing. Although Rocketbook failed to win any investments on Shark Tank, the company has been successful in the market and is now owned by Bic.
In summary, Rocketbook appeared on Shark Tank in 2017 but failed to win any investments. However, the company has since been successful in the market and was acquired by Bic in December 2020 for $40 million.
What Is The Current Valuation Of Rocketbook After Shark Tank?
Rocketbook is a reusable smart notebook that appeared on Shark Tank in Season 8 Episode 24, where Joe and Jay sought $400,000 for 10% of the business.
Within two years of being on Shark Tank, Rocketbook sold over $10 million worth of its products and is now one of the biggest “misses” of all time on the show.
As of 2022, Rocketbook’s founders, Jake Epstein and Joe LeMay, have a net worth of $44 million. Therefore, it can be inferred that the current valuation of Rocketbook is at least $44 million.
However, it is important to note that the net worth of the founders does not necessarily reflect the current valuation of the company.
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.