Postcard on the Run net worth

Postcard on the run is a smartphone app that can be used to send a virtual postcard through the mail, a modern way of sending a postcard. It’s very simple to use, the user just has to capture a picture, add a note to it, and sign it with their finger.

After this the application takes you to the address book, select the address from your contact, and those who do not have an address can send the postcards through a product called postal gopher that allows you to send the postcard through an email or a cell phone number.

Also, the application is free to use. The application also sends a signal to the receiver that someone is trying to send them a postcard. The additional feature in the system is that one can also send a video through the app and the receiver has to scan the QR code and will be able to view the sent video on their mobile. In short Postcard on the run is a program that is fun, easy, and a quick way of sending postcards to your loved ones.  

Postcard on the run at a glance

IdeaAn easier way to send the stock of photos as postcards
FoundersJosh Brooks
Asked For$300,000 For 5%
Accepted Deal$300,000 For 7.5%
SharksRobert Herjavec
Business statusNot in Business
Episode No.Season 5, Episode 1

Index:

Founder Story:

Josh Brooks, the whole sole founder, and owner of the company graduated from the University of Arizona, and to pursue his passion for a tech company he started working as a marketing head for Myspace and gave the company almost three to three and a half years.

As a next step in his career, he raised 1.6 Million dollars to start his company On the Run Tech. He also collaborated and got an investment from a celebrity Selena Gomez, with which he started the company he pitched on Shark Tank which is Postcard on the Run. The celebrity marketed it on her Twitter page and also sent out a video on how to use the application.

He is also the founding member of fanscape.com. His specialties include Mobile technologies, Consumer Marketing, Media partnerships, content acquisitions, original content development, and live events. Today he is the Executive Vice President, of Marketing and Operations at Plai Labs and Senior Vice President of Corporate Marketing and Recruiting at Jam City.

See also  Wisp Broom Shark Tank Update

Did Postcard on the Run get a deal on Shark Tank?

Yes, the company got the deal on Shark Tank. They got the deal with Robert Herjavec at the valuation of $400,000 which is an investment of $300,000 for 7.5 % of equity.  Mark Cuban refused to invest at such a big valuation, while Barbara seemed to be fuzzy and lacked sentimental attachment, Kevin found it to be not a proprietary business and Lori backed out due to the pending patents.

Though Josh was able to answer all the questions raised by the Sharks he did not succeed in convincing them to invest. However, Robert was still interested in the deal because for him it seemed a great idea that his kids would love. He offered a deal of $300,000 for 10% of the stake, which Josh did not approve as it brought down the valuation, after counteroffering it, and Robert’s firm decision Josh settled the deal for $300,000 for 7.5 %.

What happened to Postcard on the Run after Shark Tank?

After accepting the deal from Robert the business made a huge success and was able to keep it intact. Though many similar companies came in and created a hindrance to the company’s growth.

The company, when appeared on Shark Tank was already in the business for twenty-one months and generated four hundred fifty thousand dollars in revenue.

The time when it came on Shark Tank it came with a valuation of $600,000 with which none of the sharks were happy. After the deal with Robert, the valuation of the company was $400,000 as Robert was not ready to go above the mentioned valuation. The valuation of the company in 2013 was $4 Million.

Competitors of the company

  • Chartbooks
  • Richards
  • Snapfish
  • Shutterfly
  • Mapco Label Systems

What’s the net worth of the Company?

The valuation of the company during the pitch was $600,000 and after the deal, the valuation dropped down to $400,000.

Is the company still in business?

Even after having invested by many the company couldn’t maintain its position. It remained less active on its website and announced on its website that the company will be closed from October 1, 2015.

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FAQs:

What is Postcard on the Run ?

Postcard on the run is a smartphone app that can be used to send a virtual postcard through the mail, a modern way of sending a postcard.

What's the net worth of Postcard on the Run ?

The valuation of the company during the pitch was $600,000 and after the deal, the valuation dropped down to $400,000.

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