Apperance on Shark Tank propels app to the top of the charts

Apperance on Shark Tank propels app to the top of the charts
If you were watching ABC-TV's Shark Tank on Friday, you saw developer Garrett Gee ask the sharks for $1 million for his app, Scan. This is an app that helps people read QR codes on their phone while letting companies create their own codes. While Gee walked out of the Tank without a penny, it didn't really matter since the company had already raised $7 million at a valuation of $21 million. The money came from Google Ventures, Menlo Ventures, and Entree Capital. The investors were a little concerned about the appearance of Gee on the top-rated Friday night show. "Some investors thought that ‘Shark Tank’ was too quirky, and they were worried about our reputation," Gee said.

But Gee was less concerned about getting the Sharks to open up their wallets and more interested in trying to promote his app in front of a national television audience. At $1.99, Scan was the 5th most downloaded utilities app in the App Store before Friday's show, and number 150 on the list of all paid apps. After the television appearance, Scan shot up to number 1 on the utilities list, and number 25 for all paid apps. In the Windows Phone Store, it leads all paid apps.Scan is also available in the Google Play Store.

Scan allows users to use their camera to read a QR code, nothing unique there. Businesses using the app to create a code can use the code to link their websites, social networking sites or phone number to it. This way, a consumer can scan the code and call the company, or follow it on social media, with a single tap. A consumer can use "scan to pay" to make a payment for a product after scanning the code, or even make a donation. Using a QR code from a company called Mission Belt Co., which scored a deal with FUBU's Daymond John on an earlier Shark Tank episode, Gee showed how quickly a consumer could purchase a belt, or follow the company on Twitter, by using the app.

The Shark Tank investors were not as excited about the app even though Gee showed how fast the app was being downloaded, a figure that exceeded 51 million free app downloads. Kevin O' Leary told Gee, "Show me the money, not the downloads," while Mark Cuban and the others said that QR codes are a thing of the past.



source: SharkTank

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7 Comments

1. improv

Posts: 96; Member since: Sep 09, 2013

"But Gee was less concerned about getting the Sharks to open up their wallets and more interested in trying to promote his app in front of a national television audience." Wow, Damien saw right through him and he stated a really good reason for dropping out.

3. imeubeu

Posts: 59; Member since: Jul 01, 2012

yes indeed...the show is for ppl who need real help raising $...like the dad with two girls and skateboard family

4. Daftama

Posts: 639; Member since: Nov 03, 2012

Most places like him come for the publicity look what happened or happens to all that come out the show.. Most of the time pile want the publicity like the person with the wine he made the show twice

5. improv

Posts: 96; Member since: Sep 09, 2013

I remember that. The guy with the sealed wine bottles, right? These sharks can be hard to win over but I think they can see right through someone but choose not to embarrass the individual on live TV. They do look genuinely happy to help out the people with potential who really need the money.

2. xfire99

Posts: 1205; Member since: Mar 14, 2012

QR codes scans have been out for long time at android and they are wright. There are no money to earn with QR tags scans.

7. downphoenix

Posts: 3165; Member since: Jun 19, 2010

people still use QR codes? Did we magically teleport back to 2008?

8. iceman101184

Posts: 1; Member since: Oct 14, 2013

Our top blog contributor just did a a little overview on assessment of last Friday's Shark Tank episode and Scan's pitch. Feel free to read it here: qfuse.com/blog/abcs-the-shark-tank-and-scan/ Overall: we feel this episode was great exposure for the QR Code "space" in general; it provides awareness of the technology and a good view into 'Connected Media' strategy (i.e. fusing online and offline). However, we were very confused and agitated by the founder's ridiculous valuation. This was potentially a "visibility play" with no real intention of getting legitimate funding. Hell, the guy wore flip flops for crying out loud! Ultimately we don't feel Scan is a serious contender to the 'real' professional solutions out there--like Qfuse.com, ScanLife, or VisualLead--especially when you consider the fact Scan is not yet exploring future-forward technology like NFC. They also have a mobile site builder which is clunky and poor UI/UX. Very poor pitch but glad that the visibility of QR and connected media is getting out there. That's good for everyone!

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