Scan is the next App in the Shark Tank in season 5 and appears in episode 507. The QR Scan Code Generator has over 40 million users world-wide to date! Entrepreneur Garrett Gee started the business while a freshman at BYU along with classmates, Kirk Ouimet and Ben Turley. The Scan smart phone App allows users to create instant, scannable codes (QR codes, NFC, and more) for just about any application (ex. “Scan to Follow, to Like, to Buy” etc).
Scannable codes are becoming ubiquitous both on and offline. You see them in places like museums, coffee shops – just about anywhere a business would want to provide more information to consumers via their smart phone. Scan also hosts the links from the codes created with the app and lets users access and edit them via their dashboard so new codes don’t have to be constantly generated.
Scan Shark Tank Recap
Garrett enters asking for $1 million for 5% of the business. He explains Scan allows the easiest way to scan QR codes. He uses a Mission Belt QR code to show how he can instantly link to the Mission Belt website, Twitter account, etc. The app was free at the time of taping, but it’s $1.99 on show night.
There are currently over 51 million app downloads and millions of scans each month. They’ve perfected the app, but need to know how to monetize better. The idea is to keep the app low-priced and charge businesses to host their QR code data. Mark questions the longevity of QR codes and Garrett demonstrates how Google glasses interact with the Scan app. He wants to know what differentiates Scan from the other players. Garrett claims he used Shark Tank as inspiration for his VC negotiating model and he’s raised $8.7 million.
Daymond thinks Garrett is there for publicity and doesn’t need the money – he’s out. Lori says she’s not a tech person and she goes out. Robert doesn’t think it’s proprietary and Kevin thinks there isn’t a solid enough business model, they’re both out. Garrett makes a final passionate pitch. Mark’s a fan of sensors, not scan codes and he’s out too. Garrett leaves without a deal, and Daymond says he’s proud that Shark Tank inspires young entrepreneurs like Garrett.
Scan Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Once an episode has aired, we monitor the progress of the businesses featured, whether they receive funding or not and report on their progress. The Shark Tank Blog will follow-up on Scan,Garrett Gee, Kirk Ouimet and Ben Turley as more details become available.