Scan Shark Tank Update

This episode 507 of Season 5 featured Scan; the next App pitched in the Shark Tank.

Over 40 million people are using the QR Scan Code Generator worldwide to date!

QR Scan App was founded by Garrett Gee and his friends Kirk Ouimet and Ben Turley when he was just a freshman at Brigham Young University (BYU).

Scan is a smartphone app that lets users generate immediate, scannable codes (QR codes, NFC, and more) for virtually any application (such as “Scan to Follow, Like, Buy” and so on).

The use of scannable codes is becoming more common, both online and offline. 

They are also available at places like museums and coffee shops, pretty much anywhere a business would like to deliver additional information to customers using their smartphones, which are everywhere.

Scan also hosts the links created by the codes generated by the app, allowing users to see and change them from their dashboard, thus eliminating the need to generate new codes regularly.

What Is Scan?

Scan is a QR code scanning app developed by Scan Incorporated, which uses proprietary technology.

Scan is a mobile application development business based in Provo, Utah, in the United States of America. 

Garrett Gee and his college friends Ben Turley and Kirk Ouimet came up with the idea for the company in January 2011, and the rest is history.

Scan Shark Tank Update

The company was focused on developing better mobile and online solutions that would allow businesses and smartphone users to take advantage of mobile payment technologies more easily and seamlessly.

The company also focused on mobile commerce and social media tools in its offerings.

Company NameScan
ProductQR Code Reader App
EntrepreneurGarrett Gee
WebsiteVisit Website
Episode Season 5 Episode 4
Investment Asking For$1,000,000 for 5% stake in Scan App
Final DealNo Deal
SharkNo Shark
Business StatusAcquired

Who Is The Founder Of Scan?

Garett Gee is the CEO and founder of Scan, founded in 2011 and has grown rapidly since.

He came up with the idea at Brigham Young University when the organization was formed.

After putting an end to his studies, he established a business dedicated to web design and digital media services.

Currently, Garett is a multi-millionaire adventure journalist and blogger, writing for several publications. Garett developed the Scan app after receiving a smartphone as a gift in 2009.

When he used the device for the first time, he was not impressed by the technology. He suggested that QR codes will soon be interacting with the more user-friendly web and mobile applications.

Several fellow BYU alumni helped him develop an iOS application for a student competition in which they placed second.

Gee sought money from various venture capital firms and other sources and raised more than $8 million from them.

The Scan iOS app was first released in January 2011, and by May, it had received over a million downloads. He reached ten million downloads by March of the following year.

Garett then chose to pitch the app on Shark Tank in 2013 to raise further financing and give the app a global platform.

Scan Before Shark Tank

Garrett Gee launched Scan App, intending to become one of the 10 most downloaded apps on the App Store.

In 2009, Garrett became familiar with QR codes after coming across one on a product and scanning it.

However, he believed the technology could be better, so he set out alongside his classmates Kirk Ouimet and Ben Turley.

Garret and his classmates’ first step was to secure the domain name scan.me, which quickly gained popularity.

Garrett wanted capital to expand his company, just like any other company that wants to expand. 

However, unlike many other entrepreneurs who applied to be on Shark Tank, Garrett actively sought investors before appearing on the show.

Garret managed to earn more than $8 million from investors like Google Ventures before appearing on the show, proving he could develop a great idea and execute it effectively.

The more investors came in, the more Garrett realized they offered so much more than just money, and he came to believe he was receiving a huge return for the small amount of equity he gave.

The willingness to keep growing motivated Garrett to apply to be on Shark Tank, and he was invited to be on season five.

How Was The Shark Tank Pitch Of Scan?

Garrett appeared on the Shark Tank stage with a $1 million demand for a 5 percent stake in Scan App. He says that Scan is the quickest and most convenient technique to scan QR codes.

Mission Belt QR codes demonstrate how quickly he can access the website, Twitter account, and other resources through Mission Belt. 

On the night of the broadcast, the app will cost $1.99 instead of free at the taping.

According to the latest statistics, the number of apps downloaded and scans per month are currently more than 51 million.

They’ve refined the app, but they need to figure out how to make it more profitable. 

The objective is to keep the app’s price as low as possible while charging businesses for the right to host their QR code data.

Mark discusses the long-term viability of QR codes, while Garrett demonstrates how Google Glasses interact with the Scan application.

It would be helpful for him to learn what makes Scan different from the other players. Garrett claims that Shark Tank inspired him to develop his negotiating techniques when he developed his venture capital technique, and he has since raised $8.7 million.

Daymond claims Garrett is there solely for publicity, not for money, so he gets out.

Lori claims that she is not a techie and will be going out.

Since Robert does not believe it is proprietary and Kevin believes there isn’t a strong enough business plan, they are both gone.

Garrett concludes with an emotional pitch of his own. On the other hand, Mark prefers sensors to read codes, and he’s gone as well. 

The episode ends with Garrett walking away without a contract, and Daymond says he’s happy that Shark Tank serves as an inspiration to young entrepreneurs like Garrett.

Final Deal: No deal between Scan App and Sharks.

What Happened To Scan After Shark Tank?

Scan App has continued to grow despite not receiving investment and the Sharks’ concerns.

Currently, the company only offers a free QR code reader app on Google Play and a paid version called “Scan” on the App Store.

Like all companies on the show, Garrett capitalized on the Shark Tank effect to increase usage by having television viewers scan their QR codes while watching the show!

It appears that businesses can still produce QR codes by visiting the Scan website. Scan’s website and its social media accounts haven’t been updated in a long time, so Mark’s belief that QR codes are on their way out may be true.

Scan Shark Tank Update

Garrett represents the characteristics necessary to be a successful entrepreneur, especially when dealing with a firm with a lot of competition.

While he and his friends did not possess any proprietary skills, they could obtain cash and identify issues istheir competitors missed, which required good judgment and risk management skills.

Garrett was extremely young when he started this company, so his company has been successful for so long because of his abilities and dedication.

Scan Shark Tank Update

Garrett Gee did not convince a Shark to invest in his software, but he unintentionally compromised the Shark Tank.

Business owners aren’t allowed to display their company’s website address when presenting on the show.

Gee’s presentation did not offer a website address, but it offered a scan code. A code on the television screen allows viewers to scan the image straight from the television screen without getting up.

The code was a dummy that pointed nowhere during the show’s airing, but Gee ultimately linked to his Instagram account using the same code.

Many viewers took to Instagram after the show was re-aired, and some downloaded the app to scan the code while watching.

Sheets Laundry Club Shark Tank Update

The app’s presence in the marketplace is continuing to grow. However, while a straightforward app may not have piqued the Sharks’ interest, it is making its way into the hands of customers.

Snapchat purchased Scan, Inc. for 54 million dollars in December 2014, according to the company. 

The details of this type of transaction are generally kept secret; however, Sony Pictures was hacked, and the resulting files revealed the transaction details.

They have become known as the Bucket List Family as they have traveled the world since August 2021.

Is Scan Still In Business?

Snapchat purchased the Scan App in 2014 for a whopping $54 million, a deal that changed Garett’s life. It is Scan technology that is used in the app’s Snapcode feature.

Putting the majority of his savings into a savings account, selling off the majority of his possessions, and traveling the world with his young family for three years before settling in Hawaii, he lived the kind of life most of us can only dream about today.

Felt Shark Tank Update

He writes about his family’s experiences on a blog called “The Bucket List Family, where he chronicles their journeys. 

Today, QR code technology can be found in many industries, from finance to retail sales to social media.