Posted on: November 17, 2014

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


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! 

  • HappyMan

    This is a WIN! WIN! WIN! WIN! deal!!!! GrooveBook wins with a fantastic public exit! Shutterfly wins boatloads of paying customers for about $40 per account. And Shutterfly gets 200,000,000 customer photos to monetize! And Shutterfly gets non-seasonal print production cash flow! Shark Tank wins with a legit business success. Shutterfly is a publicly traded firm validating the original Shark Tank deal. Kevin O’Leary wins because he was all over GrooveBook from the start. Remember Mr. Wonderful offered a full valuation buyout of Groovebook without hesitation at the initial pitch. Mr. O’Leary appears a great mentor and the most financially astute Shark. Mr. Wonderful is still with Groovebook all the way through this great exit. Kudos to everyone.

    • Namo

      But did Kevin make any money off this deal? He only had licensing rights no?