The Rocketbook Shark Tank Net Worth
Back in 2015, two confident entrepreneurs, Jake Epstein and Joe LeMay, pitched their innovative idea on a smart, reusable notebook in front of the sharks.
Unlike the traditional pen and paper notebook, the Rocketbook allows you to access your notes from anywhere.
Rocketbook Shark Tank is environmentally friendly, minimizing waste as customers no longer need to waste millions of pages of paper.
Before appearing on the show, they had already registered $1.8 millions in sales.
They wanted to grow their business, asking for a $400,000 investment from the sharks.
Not only did they get rejected but they also got laughed at.
This didn’t stop them though. They managed to grow their business without the investment of the sharks.
By 2017, they registered $10 millions in sales.
But how did the sharks miss on such opportunity and what are Epstein and LeMay doing today?
In this article, I’m going to talk about the Rocketbook story, explain how this product that is considered by many as the best smart notebook revolutionized the digital notebook market and show the online success of Jake and Joe.
The Rocketbook Shark Tank Story
The Rocketbook On Shark Tank – Post Rejection
In the Rocketbook Shark Tank episode, the founders asked for a $400,000 investment for 10% of equity but they got rejected.
They didn’t give up though.
They believed in their product as you can write on it with a physical pen and then, upload your notes to the cloud and erase you writing from the notebook.
The Rocketbook app integrates with Dropbox, Google Docs, iCloud, Evernote, Box, Slack as well as email.
As a result, they carried on selling more units.
On the show, they erased the notes using a microwave however, today, you just wipe them clean.
They already had an established distribution channel and achieved $2 millions in sales. Yet, they got laughed at.
The sharks demonstrated an interest at first but it seems they started joking about it once the founders used a microwave to erase the notes.
This appears to be the point where they missed on the opportunity to invest in an innovative product that would go on to achieve $10 millions in sales two years later.
The Rocketbook is being sold in retail locations such as Walmart and Staples, on their own website and on Amazon.
There are several product variations sold on Amazon with estimated annual sales reaching roughly $6 million.
|Rocketbook||Rocketbook Mini||Rocketbook Fusion||Rocketbook Flip||Rocketbook Panda Planner||Rocketbook Wave|
|Size||Letter (8.5in x 11in) and Executive (6in x 8.8in)||3.5in x 5.5in||Letter (8.5in x 11in) and Executive (6in x 8.8in)||Letter (8.5in x 11in) and Executive (6in x 8.8in)||Letter (8.5in x 11in) and Executive (6in x 8.8in)||Standard (8.5in x 9.5in) and Executive (6in x 8.9in)|
|Page Style||Dot Grid||Dot Grid||Task List, Weekly Planner, Monthly Calendar, OKR Goal Template, Idea List, Dot-Grid, and Lined Pages||Dot Grid and Lined||Daily, Weekly, Monthly, Annual, Goals, Roadmap, Dot Grid, Lined, Blank||Dot Grid|
|Pilot FriXion Pen||Yes||Yes||Yes||Yes||Yes||Yes|
|Buy Now On Amazon||Buy Now On Amazon||Buy Now On Amazon||Buy Now On Amazon||Buy Now On Amazon||Buy Now On Amazon|
The Rocketbook Beacon
The Rocketbook Bundle
The main takeaway from this entrepreneur story is to not give up when you face an obstacle.
If you have an innovative idea with proven sales, keep going.
Don’t be afraid.
Do you have any innovative ideas? Get a Rocketbook and write them down!
Rocketbook Shark Tank Episode
Season 8 Episode 24
smart, reusable, microwaveable, notebook
Jake Epstein & Joe LeMay
$400,000 for 10%
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