Groove Book Owners receive Two COMPLETELY Different Offers | Shark Tank US
ฝัง
- เผยแพร่เมื่อ 24 มี.ค. 2022
- Julie Whiteman And Brian Whiteman are seeking $150,000 for a 20% stake in GrooveBook
From Season 5 Episode 13
Watch The Entire Series on Google Play: play.google.com/store/tv/show...
Subscribe to Shark Tank Global for more from your favorite shows: / @sharktankglobal
FOLLOW SHARK TANK
Shark Tank Global Facebook - [ / globalsharktank ]
About Shark Tank: The Sharks - tough, self-made, multi-millionaire and billionaire tycoons - continue their search to invest in the best businesses and products that America has to offer. The Sharks will once again give people from all walks of life the chance to chase the American dream and potentially secure business deals that could make them millionaires.
#SharkTank #SharkTankUS #GrooveBook
Groove Book Owners Need To Chose From Two Completely Different Offers | Shark Tank US
/ @sharktankglobal
Eventually they sold the whole business for 14.5M to Shutterfly. Shutterfly took the business model and discontinued groovebook :)
great outcome!
Take it they just wanted the patent to the groove. Still $14.5m is good price.
Alternative universe : they grow so much by the other sharks and buy Shutterfly
@@OakApplegardens Yeah very well said, actually ShutterFly just wanted to have this patent of groovebook, and even though they discontinued it, they can still offer this kinda service in the future, if the need of it arises, and eventually erasing all potential competitors or copy cats of this cause they're the only one who have the liscence to do this. ShutterFly just wanna be ahead of everybody, they kinda wanna show their competitors that they are the boss in this game by doing this move. They know what they're doing, although this particular service is discontinued, from my POV they actually did a very smart move 🤗
Damn I want to own one for 2.99
The move the wife made at 3:27 is pure gold. The conversation immediately turned towards the groove. Absolute perfection.
supportive, smart wife.
Everyone needs a wife like that on their side
When she first did it i didn’t understand the relevance. Seemed like a cop-out, show the grit of the entrepreneur type story. But wow, it ended up changing the whole game
yup - she saw the value for what it was, W wife
That’s why inventors are bad businessman . You need a good partner for the business site
Wife saved him at 3:27, the pitch was heading downhill and he was looking flustered and she turned it around.
Definitely. Lucky guy
he kinda look scared, she literally saved him, lucky lad.
His baby momma*
Yeah, she brought them in with that great story.
She saved him I can tell that guy would be lost in life without her.
I can't stop binge watching Shark Tank pitches! Keep them coming! XD
Same
💯
Try Dragons Den. There is a ton more free content on TH-cam since it was around long before Shark Tank and Dragons Den puts more focus on the entrepreneurs and products with less drama than Shark Tank
Sameee
I'm the same way lol
Marks face when he said “baby momma” had me dead☠️ 🤣
sooooo cringe awkward.
I can't believe she let him say that lol
@@peps1943he can say what he wants she can’t stop him
@@MessiWorldCup-th2dejust cause he can doesn’t mean it wasn’t cringe or stupid considering the circumstance.
@@MessiWorldCup-th2de yeah and she coulda left him right then and there if she had self respect 🤣🤣
Man, when Mark knows a product, I have never seen him lose an offer to any other Shark. At max he goes in with another Shark but when he's passionate, there is no one who can beat him.
He's like Joe of impractical jokers
It helps when you're the richest person on the panel
I’ve seen people lose him because they don’t know what he’s capable of
Exactly.
Cuz hes the only shark with billions lmao
Barbara: I prefer sitting for oil portraits to taking photos, and for that reason I’m out.
🤣
😂🤣😂😂
Y’all are sharks for the Barbara comments 🤣😜she’s not even here 💀
@@izimmzskizzmz she called at the very end and said “Im out” did you not watch?
Let's be honest, even though a lot of people may dislike Kevin because of his slimy offers and attitude, Kevin is probably the shark who has made the most offers in the show and that adds a ton of entertainment value.
He's not actually a bad guy. He's almost always the first shark to make an offer, and he makes it rediculus so that another shark can make an offer of their own.
@@exothermic1942 Yes Yes
Hes makes ridiculous offers to see if they are down bad enough to fall for the bad offers.
he’s the best shark
He is the best shark in terms of he always like to give deals.
This is a service I'd use _once_ perhaps. But I wouldn't want a new book of photos arriving _every_ month. The novelty would wear off quickly. But obviously Mark's idea to license their shipping approach is solid.
I would do it once per year, but a larger book. Like 200 photos, 8.5x11, and I'd pay $25 USD.....
Yes a book every 6 months or a year would make total sense.
It'd make sense maybe every 3 months for people with children, but otherwise idk who would use it even that often.
What novelty ? Bro these are basically free pictures.
@@alainportant6412 The novelty of having a collection of pics in a book. It would be kind of cool for a month or two. After that, I'd lose interest. Few people take 60 pics (give or take) every month that are worthy of printing and displaying.
When the hubby starts getting upset around the 3 min market, the wife sees him getting upset, and she jumps in and calms him down and saves the deal. 7.8/10
I noticed that too
Stop using the word "hubby" you probably call yourself a "cat mom"🙄
His wife is a ride or die. For real
@@ShawnFX nah its fine
This guy is smart, and he’s been in printing business long enough to know the true value of his patent, that’s why he counter Kevin with 6M, because he knows how much his patent truly worth, and he made 14.5M at the end because of his good decisions! Brilliant!
I don't think the founders would have got much of that 14M the sharks ended up with 80 percent of the company right.
They specifically got ZERO% of the company, they just got the royalties
@@cuckertarlson3037 they did not get any percentage of the business. The sharks were a reseller of the product. And the sharks paid the owners 20% of their sales to resell the product.
@@whatsadog2445 partially correct. The sharks are resellers of the product, and the owners got the 20% revenue share from that revenue stream.
ffs watch and listen to the deal 😂the owners still owned the business, they only sold a license
I like how they brought a baby picture of Daymond. And every other shark made an offer but him. Lol
He didn’t like his baby picture being exposed to the world 😂😂
@@bishopscore im
Sure he had to approve it and only acted shocked
Thats true! 😄
He helped finalizing the deal though…
😂😂😂😂😂🤣 Too funny
Shutterfly acquired Groovebook in 2014 for $14.5 million making it one of the most successful businesses to ever appear on Shark Tank.
0:19 Mark Cuban dying at that “Baby Momma” introduction killed me even more on top of the comment itself
even the "wife" had to chuckle
“I’m not even here so for that reason, I’m out.”
- Barbara
Have to say the couple were real wholesome. Made me smile the entire time. So happy they got their deal
So nice to see them listening after talking and not interrupting the sharks
He's culturally incompetent.
I own a general contracting business; I’d definitely pay $5.99 per book to have collections of my work to show potential clients
Who else never gets enough of watching this and also thinks that it's a mind opener?
I thought I misheard when they first said $2.99. I don't know ow if this couple knew just how phenomenal of a product they'd created
14.5 million dollars phenomenal. That's what they sold it for.
They were so cheap because they had their own printing company already lol. They basically just added a business that went by the printing company that’s why it was cheap
Mark was so clearly uncomfortable when Robert was talking about them creating a competitor for groove book 😂. He knew Robert was spot on and hated him telling the entrepreneurs that lol
11 months after this pitch, Shutterfly acquired the business for $14M
Wow, I remember this episode when it first aired, could not believe they took Mark and Kevins deal, Damon couldn't have explained it any better with his analogy, they would actually be competing with their own partners for business, and their partners had the better business, and only getting 20% of it is nothing. Thankfully they eventually sold the whole business and made millions, which appeared on one of the Shark Tanks follow up shows. 🤔
yeah they may be smart but not wise.
Exactly. Their choice does not make sense
@@tangimulundu6393 if you think about it they made more money than if they sold half to Robert and Lori
When they sold, how did that Marks service work? Did they sell that too?
I was thinking the exact same thing
There's a calmness and respect about this couple that I really adhered to. Good luck, Groovies.
The Cuban deal in the end will make them money, but it also shoots them in the foot. I think they killed their subscription model 100%. I think what would have been really really smart would be to ask Marc for a 50/50 in the licensing and focus 100% on that.
Yup and they keep value of the patent for themselves.
I think now that they sold the business to shutterfly and the business was closed, Mark and Kevin got nothing since their licensing is dead or am I wrong?
@@KristenNguyen009 I can't say. Typically all parties are involved in those situations, but at the end of the day it depends on what the board says. If they want to end the liscenes agreement to Cuban and O'Leary then I believe legally they can becuase it is a part of a new entity. But they can also negatioate that all current deals must remain active. If I was them, I wouldn't care either way so likely the liscenes deal is gone.
@@KristenNguyen009 I think the patent/licensing for the product itself still exist, it was just absorbed and rebranded basically now. Legally, I think that it should still stand simply because the functionality of the product is the same, but I don’t know law so
This is the first time I have seen mark partnered with Kevin...most of the times he pushes Kevin under the bus 🤣
Mark has partnered with Kevin several times successfully usually ending selling company. I like Bottle Breachers!
When you have kids, you take a lot of pictures. Being able to easily print them into a book, then toss that book in storage is amazing. 10-20 years later your kids will have an amazing time looking through all those pictures. It’s a cheap price.
And this is my babymomma Julie is a crazy way to start your pitch
he's lucky, his wife seems like a really kind and supportive wife!
Daymond is always the best at narrating shark battles 🤣🤣
I didn’t realize groovebook was on shark tank. It’s sad that they are no longer doing their subscription services. No Shutterfly bought them out early on… But they had their subscription service for years and I remember doing it and it was so cheap and the books were so cute for 2.99 a month. They should’ve just raised the price up couple bucks a month and people still would’ve bought that and service could be continued.
Eh im pretty sure they're happy with 15 million dollars
@@LK25278 Dont they have to split that with the Sharks?
@@user-zg1zb3io2e I dont think so, the sharks got 80% of the licensing revenue, but no equity. The owners held on to 100% of the company.
@@LK25278 So the licensing deal is not gone, since the company was bought out
@@Jasper-Holland i would assume so
Boy damen and Robert nailed it with their scenarios mark and mr wonderful come out huge in this one.
The jury's out on that, it's unknown how much revenue that licensing deal ended up generating. What we do know is the couple got $120K and 20% revenue for a side of the business they didn't even seem to be considering, and eventually sold their company for $14.5 million on top of that after their subs blew up 15x thanks to Shark Tank.
I would do it once per year, but a larger book. Like 200 photos, 8.5x11, and I'd pay $25 USD..... /// That is my purchasing power on the product.
Dude, you nailed it right on the money.
@@TheeGranAutismo Like a Highschool Year book but with your life and memories that you adore. Once per year. Who really has time for once a month? You gonna go through 36 books for the last 3 years? No way.
I agree, a year book makes more sense
@@joeysipos half a year or seasonal makes most sense. Photocentric pamilies take like 1-5 photos a day so every 3 month sounds good
For people saying this deal was stupid...
Keep something in mind. Had they gone with Robert and Lori? Then they would have only walked away with 7.5 million in their sell to shutterfly because they would have given up 50% equity of their business.
Because they retained 100% EQUITY OF THEIR BUSINESS in this deal, they were able to make 14.5 million off their sell. Not to mention, the 20% profits from their licensing deal, alllllll the way up to their sell.
The licensing was obviously more valuable though, and you're being results oriented.
@@Ohrami results are the only thing that matter in business
@@devlinjointz4754 No they aren't.
@@Ohrami profits are results. profits=good business.
@@devlinjointz4754 I can tell you are not into business, investing, or gambling, and if you are, you lose money on it.
lovely couple, that hug at the end was priceless
Love how he stood his ground and got a better deal
1:18
Emotional damage
Robert was right on the money there. They were being their competitors. But oh well, it tuned out well for them in the end thanks to Kevin’s licensing skills
he was choking then she saved him when she told them about the shipping..
Haha, that's really nice to see ^^ They seem like a genuinely happy couple, that's awesome! I hope the business did well and the effect that Lori & Robert were describing didn't happen too much.
I actually agreed with Robert on this one...
Considering they sold to Shutterfly for $14m Kevin would have done well paying $6m for the whole company. And, tbf, I'm certain he could have bought it for like $2m-$3m.
You can’t tell me a family member or a friend dared him to say “baby momma” during his pitch xD
the sharks are so smart, they know what to do
also I thought the couple was really humble
Damn Kevin and Mark making a deal together is like Big Mom and Kaido building an alliance. Just to f*cking crazy to be true but indeed it is.
Two
More weeks for the next chapter 🫡 I hope green bull goes crazy
Thanks for uploading the pitch from 2006😭
Ikr, back when picasa was a thing 😭
Seriously 2006????
When shark tank wasnt a thing till 2009
@@emilybutler1152 When you're void of Sarcasm.
@@NitsP2208 when you're sarcasm is weak
Their will be blood reference was amazing
I was a Groovebook subscriber back in the day. It was great.
I’m at the part where they told Kevin $6 million up from 750,000. 😂 😂 😂
Can’t wait to see what he says!
I like how all of them recognize the potential of the patent.
Kevin gets angry when he sees someone being smart😂
Here I was ready to order each month for a year at 5 to 7$ a book.
@3:27 we all need a supportive wife like this
Let's say Kevin and Mark's strategy was the best one. Laurie and Robert could have pivoted to that and the Groove Book folks would have been 50% owners instead of 20%, and they would've gotten $375k instead of $150k.
Exacto mundo
they aren't 20% owners, they own the whole company AND they get 20% of the revenue from the shark's sales.
@@Antondepadua I agree with Daymond in that they are effectively creating a competitor to themselves that makes their 100% ownership obsolete.
@@chrisbitely9108 well, they saw beyond that. Having mark and kevin essentially reselling their product made their company huge, and they eventually sold their company for 14.5m USD, so they made the right choice.
also I was just saying that you probably misunderstood mark and kevin's deal in your first post
An extra .50c , or 1$ wouldnt break me
Considering Shutterfly bought them out for $14 million, the ask for the 6 mil on the buy-out is actually about right. If you get a concept like this, you need to be thinking about what the corporation like Shutterfly or Google or whoever, would be willing to pay to buy-out anything that can cut into their market share. And then work on cutting into their market share.
omg i was just watching ur older vids ty for the bless
Can't believe no one thought to put a groove in a book before....
I like win win situations too. Hope they make it. Was fun to watch. Great video
i still think they should've taken lori and robert's offer. few people have 300+ photos that they want printed out EVERY MONTH, so in most cases people will just look for a one-off solution. rather than letting mark and Kevin get most of the revenue, they could've taken the other offer and executed the idea of one-off services themselves. this way they get 375k, and they still can keep a good amount of the revenue
Nice to see how Kevin and marc mystery speak and know how to make Business
the height difference between mark & kevin
Either Mark is that tall or Kevin is that short. Interesting to see them team up like that - usually Mark and Kevin do their own thing while the other Sharks team up.
It should not have taken that dude months to figure out that the area of most resistance to him flexing the book would be the static spine of it
the way mark looked back he knew he took alot more from them than they think
I liked Lori & Robert’s offer. But glad the couple got the deal that appealed to them!
Fun. I totally want to subscribe! And will refer friends & family if can find them.
I dont know why but I think that would have been a good opportunity for them to counter to Kevin (at least thats what I would have done) to sell the company for 1 million and then have a 20 cent royalty per piece sold. The deal they took wasnt that great if you ask me
You do realize they sold the company for $14M ?
I literally use this and I love it.
The wife is such a sweetheart.
I love this idea ..I want to buy right now!
That is a phenomenal deal.
Such a great episode!!!
1:15 , finally mystery solved !
Dang. $3 a month for this??? I want it bad. I’m guessing it costs way more now. What a great deal. But at $2.99 they can’t make money.
Its sold now, and been discontinued but they made 14.5 million from it, by selling to shutterfly
@@Nozylatten that’s unfortunate but not surprising. It would be impossible to make money charging $3 a month for 50 printed photos mailed. It’s a shame the service was totally discontinued. I’d pay $10-15 a month for a service like that actually.
@@toniroberts8117 it’s not impossible because the sharks whole point was that they could manufacture and ship it for so cheap. This is why mark wanted the licesing. It’s a small profit margin which is why Kevin wanted to raise the price but they still would make money
Very nice couple. I liked them both. Would be good to work with such individuals. 🙂
I think that the real value here is the invention that allowed the shipping and his cost reduction.
Nowadays printing photos is less and less common due to paper usage reduction.
I see that the shark here wanted the technology and knowledge behind that, instead of the product itself.
We can clearly see who the amateur sharks are and who Mark is he’s the great white I’ve never seen him lose a deal when he’s determinated and when he knows the product
kevin is the real pro
Holy this was stressful to watch, my head would explode if i ever got on this show
that there will be blood reference was so good 😂
I LOVED grovebook, im so upset they shut down :(
Sharks really coached them here.
I actually know someone who uses this products. It's great for her because she takes about a billion pictures of her kids every months lol.
She has issues
I never realized Mark was so much taller than Kevin is
Smart decision, not everyone wants subscription even though it's more profitable for the owner, might lose some money there and it's more risky over the long haul for the main company, but you've got two sharks selling the crap out of this licence so it's an ensured income from that
It’s what adobe does. You used to be able to buy cds of their programs one time fee. Now it’s monthly subscription
I like how Mark Cuban is like seriously dude "Be Real" lol
Damn this episode was intense
I started watching shark tank on TH-cam to reduce my Netflix addiction. Well congratulations!! I finally eradicated that addiction by adding up a new addiction. 💞.
That’s actually an amazing idea, wish I had bought one before it was bought out
a lot of people were getting them for free 🤣including myself using fake information and it worked😂got myself 3 books for free!
@@jerucells ? How
@@duganrocks100 using fake credit cards and such, you cant now though since it shut down
@papayayummy
The fact you’re not only proud of stealing off a really sweet couple, but bragging on the internet about how you commit online credit card fraud.. you really are a potato aren’t you
@@jerucells how in the world do you use fake credit cards
Such a sweet couple together
The reason he took Marks deal is because he is manufactures the product. Every sale outside of his subscription still has to come through him.
Kevin is absolute shark. Elbowing and cornering all because they own the patent!
this is actually awesome at a super cheap price
Babymama💀 I mean nothing wrong with it haha. I also love their idea and creation.
11:29 this is the moment Damond comes up with the brilliant movie analogy.
Oddly I think Robert and Lori would have helped them make more money total however, it is possible that 20% without having to do extra stuff or at expense
They would have lost 7 million
They sold it and made 14.5 million
imagine he handles them personal photos hacked from their phones
lol at 10 min is when alarm bells should go off.. when they're aaaall suddenly that excited to be buying 50% of your company haha
I would pay 8.99-12.99 for this subscription
Mark is right.
the subscription service isnt whats important here.
its the book itself.
This was a great product. Absolutely loved it. Too bad it is now down.
Isn't it an old episode ? They got acquired by Shutterfly for 15 million I guess and later shut down.