Rocketbook Shark Tank Update | Rocketbook after the Shark Tank Pitch
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 your 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.
The Rocketbook is ideal for taking notes, doodling, making shopping lists, creating flow charts, giving presentations, and anything else comes to mind.
Who is the Founder of Rocketbook?
Rocketbook was founded by Jake Epstein and Joe Lemay. Epstein earned a degree in Electrical and Computer Engineering from Purdue University.
Lemay earned an MBA from the Massachusetts Institute of Technology in 2006.
Epstein is not the only firm he has started; in fact, previous to Rocketbook, he co-founded many companies and worked as a Hardware Design Engineer.
Lemay works at salesforce.com as an Account Executive. Rocketbook is still led by the couple today, with Epstein as Chief Innovative Officer and Lemay as CEO.
When co-founder Joe LeMay failed to bring a critical notepad to a sales meeting in 2013, the Rocketbook was born.
He spent the most of the next year hunting for solutions that would allow him to access his notes from anywhere and never have to repeat such a humiliating situation again.
He met co-founder Jake Epstein in late 2014, and after introducing the idea for a “cloud linked paper notepad,” Jake was all in. The next day, the two would get to work on what would become the Rocketbook.
By 2015, Jake and Joe had started their Kickstarter and Indiegogo crowdfunding campaigns for the Rocketbook Wave, the first edition of their microwavable notebook.
Over $1.8 million was raised through the crowdfunding campaigns, which was utilized to create the first wave of the futuristic notebook for its 28,000+ supporters.
By the summer of 2016, the Rocketbook Wave and its attachments were available for purchase on the company’s website and on Amazon.
By the end of 2016, the Rocketbook Wave would be “Amazon.com’s best-selling notebook.”
Rocketbook started a crowdfunding effort for the Rocketbook Everlast in April 2017.
With over 42,000 backers, the campaign raised over $2.7 million. It established itself as the “number one office/school product in crowdfunding history.”
What happen to Rocketbook at the Shark Tank Pitch?
Jake and Joe appear on Shark Tank season 8 episode 24 in search of $400,000 for a 10% stake in their company. This demonstrates a $4 million.
They demonstrate it and request that Robert place it in the microwave for them while they distribute samples.
Each Rocketbook retails for $27.
They’ve sold $2.2 million, which has piqued the Sharks’ interest. When the microwave is finished, they show the Sharks that the book is now completely empty.
Robert inquires about the science behind the Rocketbook’s operation. Joe claims that a lot of science has gone into the development of a microwave-safe notepad.
They do, in fact, have patents pending. Robert inquires about the water, which Joe claims absorbs a significant amount of energy and slows down the heating process.
Barb is still in awe, calling it the most magnificent but bizarre and clever thing she’s ever seen. Her concern is that it is a brilliant gimmick that will wear off in two to three years. She is out.
Robert believes that there are other Sharks who are interested, so he will not muddy the competition. He’s also gone.
Kevin is only concerned about reusability because he wants to sell more notebooks; he’s out.
Lori dislikes photographing each page, then microwaving it and sprinkling water on it. She understands how people might enjoy it for a short period of time and tell their friends about it, but she believes it will fizzle out after a while.
As a result, she is no longer a part of the deal.
They tell Mark that they want to create digitally enabled paper and office products, which is such a ridiculous idea.
Mark chuckles. He’s out as well, and they leave the Shark Tank without a deal in their Rocketbook notebook.
Rocketbook after the Shark Tank Pitch
The Rocketbook product line has grown beyond the original Rocketbook Wave, which was demonstrated on Shark Tank.
They now have the Rocketbook Everlast and the Rocketbook Colour as well. The Rocketbook Everlast, which costs $34, is made with a special fibre in the pages that allows the pages to be erased with a moist cloth.
The Rocketbook Colour has the same features as the other Rocketbooks, but it has a special fibre that can be washed away crayons, markers, and coloured pencils.
Rocketbook Colour is available for $22 and has 12 pages.
The Rocketbook One is an additional product that is now available. This is a one-time use Rocketbook notebook that costs $12.
The website expressly states that the One is not microwave-safe and is not a reusable product. However, you still have the option of uploading an archive via the Rocketbook App.
Finally, the Rocketbook Wave can still be purchased for $27. You can save money by purchasing a three-pack, which costs $72.
The company was acquired in December, 2020 by pen maker BIC for $40 million.
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.
