This Startup Made A Deal On 'Shark Tank' And Just Sold To Shutterfly For $14.5 Million (2024)

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This Startup Made A Deal On 'Shark Tank' And Just Sold To Shutterfly For $14.5 Million (2024)

FAQs

This Startup Made A Deal On 'Shark Tank' And Just Sold To Shutterfly For $14.5 Million? ›

On November 17, 2014, Shutterfly, Inc. announced its acquisition of Groovebook for $14.5 million making it one of the most successful businesses to ever appear on Shark Tank.

Why did Groovebook shut down? ›

Nonetheless, GrooveBook eventually found itself losing traction in the world of printed photography, and in 2022, Shutterfly made the decision to forever close the subscription service.

Which shark invested in Shutterfly? ›

In Season 5, Kevin O'Leary invested in GrooveBook, which lets you print photo books from your cell phone. And he was there when the company sold to Shutterfly for $14.5 million, the most ever for a business featured on Shark Tank.

Who started Groovebook? ›

Julie Whiteman - Founder - Groovebook | LinkedIn.

Why did Shutterfly buy Groovebook? ›

The Whitemans said that Shutterfly will help them scale the GrooveBook brand. The deal also enables GrooveBook to leverage Shutterfly's technology platform and manufacturing footprint. As part of the acquisition, the Whitemans will work at Shutterfly as consultants.

How much did Kevin o leary invest in Groovebook? ›

namedollars investedstake acquired
Ruckpack$75,00010%
Groovebook$75,00040%
Shark Wheel$75,0002%
Velocity Signs$75,00010%
36 more rows

Did Groovebook go out of business? ›

We made the tough decision to discontinue Groovebook services. We are committed to helping you with your account and orders.

What company did the Shark Tank offer $30 million dollars? ›

Mark Cuban offered Arum Kang $30 million for her dating app Coffee Meets Bagel. But she and her sisters swiped left, and that decision made them the targets of keyboard cowboys who labeled them “foolish” and “greedy”.

Which Shark has made the most money off their investments on Shark Tank? ›

Although he has announced his impending departure from the program, Mark Cuban has long been the wealthiest venture capitalist on "Shark Tank."

How much did Mark Cuban make off GrooveBook? ›

The app quickly showed its value and Groovebook was invited to pitch to potential investors on ABC's Shark Tank in which Mark Cuban and Kevin O'Leary offered $150,000 for 80% of the licensing rights of GrooveBook. Quickly following the Shark Tank appearance, Groovebook skyrocketed to over a million monthly subscribers.

When did GrooveBook shut down? ›

All subscriptions have been discontinued and all Groovebook billings ended on April 8, 2022, so no additional charges will be incurred after that date.

Is Shutterfly the same as GrooveBook? ›

In 2014, Shutterfly acquired mobile app company Groovebook for $14.5 million which had secured a deal on Shark Tank eleven months prior.

Did Shutterfly shut down? ›

To build Shutterfly for the future and to celebrate even more of life's most unforgettable moments with our customers, we made the tough decision to sunset the Share Sites service effective March 27, 2023.

Does Shutterfly own your photos? ›

At Shutterfly, we value the trust you place in us when you store Your Content on our platform, and we can assure you that we treat Your Content as private information that belongs to you. We share your photos only in the following circ*mstances: If you ask us to.

How much money is Shutterfly worth? ›

Interactive chart of historical net worth (market cap) for Shutterfly, Inc. (SFLY). SFLY was delisted after June 30, 2019 and its final net worth on that date was $1.736B.

How much did Mark Cuban make off Groovebook? ›

The app quickly showed its value and Groovebook was invited to pitch to potential investors on ABC's Shark Tank in which Mark Cuban and Kevin O'Leary offered $150,000 for 80% of the licensing rights of GrooveBook. Quickly following the Shark Tank appearance, Groovebook skyrocketed to over a million monthly subscribers.

What happened to Groovebook app? ›

What happened to Groovebook? We made the tough decision to discontinue Groovebook services. We're committed to helping with accounts and orders. While Groovebook services have ended, you can find many photo book options at Shutterfly.

Is Shutterfly the same as Groovebook? ›

In 2014, Shutterfly acquired mobile app company Groovebook for $14.5 million which had secured a deal on Shark Tank eleven months prior.

Is Snapfish owned by Shutterfly? ›

Snapfish is a web-based photo sharing and photo printing service owned by Shutterfly based in San Francisco, California.

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