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Rocketbook

From EverybodyWiki Bios & Wiki



Rocketbook is a Boston-based company that makes reusable notebooks which can be erased with water and scanned with an app.[1] After gaining notoriety for being denied a deal on Shark Tank for their microwavable notebook, Rocketbook went on to set the record for the most crowdfunded office product in Kickstarter history. [2]

Background[edit]

Lemay got the idea for a cloud-connected pen and paper notebook when he accidentally brought the wrong notebook to a sales meeting at his position at Salesforce. He sought out his old engineering friend, Jake Epstein, to help him research and develop their first reusable and cloud-connected notebook, which would later be called the Rocketbook Wave. After pitching the idea to Epstein at a local Boston dive bar, the two excitedly began working on the project, as self-proclaimed "notebook people".[3]

Shark Tank[edit]

In May 2017, Rocketbook co-founders Joe Lemay and Jake Epstein appeared on the Season 8 finale episode of Shark Tank to pitch the Rocketbook Wave, a reusable notebook that could be erased by placing it in a microwave. Lemay and Epstein asked for a $400,000 investment in exchange for a 10% equity. The sharks were surprised to learn that Rocketbook had already sold 75,000 notebooks.[4] Despite their surprisingly impressive numbers, the Rocketbook co-founders were laughed off the show without receiving a deal from the sharks.

Kickstarter[edit]

After failing to secure a deal on Shark Tank, Rocketbook launched a new iteration of their reusable notebook on Kickstarter on November 16, 2016.[5] The campaign raised over $1.8 million, exceeding the initial goal of $26,000. Rocketbook's previous campaign for the Wave was met with product engineering difficulties and delivery delays, which Rocketbook CEO Joe Lemay explains resulted in death threats to him and his co-founder. [6] The Everlast campaign had no such issues and was lauded as the most-crowdfunded office product on Kickstarter of all time. Recently, in early 2020, Rocketbook has renamed their Everlast notebook to the Rocketbook Core since it's water-based erasing technology is the new standard for all their note-taking products. [7] Despite their initial setbacks from the Wave campaign and their disappointing appearance on Shark Tank, Rocketbook has secured the spot of the best-selling notebook on Amazon with the Rocketbook Everlast. [8]

References[edit]

  1. Rowan Walrath, "Nearly 5 Years on Rocketbook is Still Blasting Off", Americaninno, August 28, 2019.
  2. Kelsey Mulvey, "This notebook was rejected on Shark Tank but helped its company make $10 million", Business Insider, May 23, 2017.
  3. Kailla Coomes, "Digital Trends Live: Rocketbook creators see their erasable notebook soar", Digital Trends, November 28, 2018.
  4. "Nearly 5 Years on Rocketbook is Still Blasting Off", 2Paragraphs, December 28, 2018.
  5. "Rocketbook Everlast", Kickstarter, November 16, 2016.
  6. Dylan Martin, "The Microwaveable Cloud Notebook Is Crowdfunding Again—And Not Everyone Is Happy", Bostinno, February 5, 2016.
  7. Rocketbook Launch Pad, "Our Core Mission Has Been Reassigned", Medium, December 30, 2019.
  8. Andrea Browne Taylor, "8 Shark Tank Fails That Turned Into Big Successes", Kiplinger, February 22, 2019.


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