Jeff McNeil is a father of five who has built Qeepsake, a platform for collecting and preserving newborn memories. He approached the Sharks on an episode of ABC’s “Shark Tank” in October and asked for $350,000 in exchange for a stake in the startup. He declined the offer, but the company is still in business and has an estimated net worth of $5 million. Its customers are mostly new parents, so McNeil explains the startup process.
According to the QeepSake website, the company has grown to thousands of users in four months. In the past year, the company has earned over $250,000 from its pay-as-you-go rate. In contrast, Mark and Barbara McNeil turned down an equity offer of 20 percent, claiming that they would not be able to help them grow their business in such a short time. However, the investors don’t think that Mr. Wonderful is the right partner for the company, and Lori Greiner decides to leave, but Kevin McNeil isn’t willing to take this risk.
After the Shark Tank episode, Qeepsake has raised over $900,000 in investments and launched an app to go along with their AI programme. Qeepsake has over 100,000 users and is generating revenues of around $2 million a year. Jeff McNeil is expected to continue growing the company and add to its net worth. After the investment, Qeepsake plans to launch an app that allows users to communicate with the AI programme.
The Qeepsake app launched in October 2017. It allows parents to save their precious memories with the app, and a journal book is available in a variety of formats. It has a heavyweight softcover and is designed for 300 pages. The Qeepsake app also allows parents to share their stories and photos through text messages. The app is compatible with all smartphones, making Qeepsake a very attractive investment for many new startups.
Another popular feature of Qeepsake is that it sends parents a text message each time their child answers a question. Each message is added to the child’s private journal, which parents can update and edit as often as they wish. Qeepsake also allows parents to upload photos to the pages, so that they can record the most precious memories of their children. Parents will no longer have to worry about not having enough time to fill a baby book, and Qeepsake can help them eliminate guilt about not doing so.