Posted on: November 17, 2014

Shark Tank-Backed GrooveBook Acquired By Shutterfly For $14.5 Million

groovebook

GrooveBook, a photo-printing app and subscription service that creates personalized photo books featuring up to 100 of your photos, shipped monthly, has been acquired by photo printing giant Shutterfly for $14.5 million. The smaller startup is probably best known for as the photo book app from TV’s “Shark Tank,” where founders Julie and Brian Whiteman pitched their uniquely designed photo books, which have a groove in the side making them flexible – and also cheaper to print.

On the show, the startup scored a deal from Mark Cuban and Kevin O’Leary for a $150,000 investment for 80% licensing rights only. GrooveBook, which had acquired over 18,000 subscribers in the 8 months before the show, benefited from the exposure and grew its business to 500,000 paid subscribers post-Shark Tank, the company said in a later update.

Shutterfly tells us today that GrooveBook has more than 1 million downloads, 200 million photo uploads and GrooveBook subscribers have grown 15 times since appearing on Shark Tank.

Read the full story on TechCrunch!