What is a Net Worth - Qeepsake Net Worth and Biography
Business Owners

What is a Net Worth – Qeepsake Net Worth and Biography

Established in October 2017 by Jeff McNeil, Qeepsake, a digital baby memory book platform, has achieved significant financial success. As of September 2023, the platform boasts a net worth of $5 million, with an impressive annual revenue of $2 million. Despite facing a setback on Season 9 of Shark Tank USA in 2017, where they sought $350,000 for 10% equity, valuing the company at $3.5 million, Qeepsake persevered.

Although the Sharks declined to invest, Qeepsake continues to thrive, demonstrating its resilience and ongoing success as of September 2023.

Qeepsake Shark Tank Pitch

Jeff McNeil sought support from Shark Tank investors to expand the reach of his developed product. Valued at $3.5 million, he pitched for $350,000 in exchange for a 10% ownership stake. Demonstrating the product’s functionality, Jeff showcased printed copies of online journals, priced between $29.99 and $44.99, with four books sold to date and plans to elaborate on this aspect in the future.

Despite having 40,000 active users, 16% of whom converted to a subscription model, generating $250,000 in four months, the Sharks had varied reactions. Barbara opted out, Mark foresaw potential competition and refrained from investing, and Lori felt she wasn’t the right partner for Jeff.

Kevin offered $350,000 for a 20% stake, valuing the company at $1.75 million. Jeff countered with a 12% equity share, but Kevin was offended and withdrew. Chris then proposed the same amount for a 20% equity share, but Jeff countered with 14%. Chris refused to part with his 20%, and Jeff rejected the offer, ultimately leaving the pitch without securing a deal.

Despite the setback, Qeepsake raised $900,000 shortly after the broadcast, garnering over 100,000 users. They also developed an app to enhance consumer convenience. In June 2021, Punchbowl invested in the company, with CEO Matt Dougals joining the Qeepsake board. Currently, the company is thriving, generating $2 million in annual revenue.

Qeepsake Competitors

Qeepsake has three competitors: Likecake, Tinybeans, and 23snaps.

Qeepsake Net Worth

During the pitch, Qeepsake had a net worth of $3.5 million. In 2023, the company’s estimated net worth has grown to $5 million.

Qeepsake Founder

Established in 2017 by Jeff McNeil, a father of five and the owner of a software design firm, Qeepsake originated from his desire to preserve memories of his children through his technological expertise. This platform allows parents to effortlessly collect and store their kids’ memories. As of 2023, Qeepsake’s founder, Jeff McNeil, boasts a net worth of $6 million.

Conclusion:

Qeepsake continues to thrive in the market, experiencing strong sales. The company has diversified its offerings by creating an app and securing investment from Punchbowl. Despite not securing funding on Shark Tank, Qeepsake has witnessed substantial growth post-show, now boasting an impressive annual revenue of $2 million.

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