The Tech Company Shark Tank Passed On That Became An Amazon Success Story

Not every entrepreneur who makes their pitch on "Shark Tank" walks away with a deal. Still, that doesn't mean they won't find success with their product(s). Sometimes, the Sharks make offers that aren't remotely close to what's being asked for, with the business owner choosing to decline for the benefit of their company. This was the case for a number of brands, including Ring and Kodiak Cakes, two businesses that rejected "Shark Tank" offers and went on to become super-successful among consumers, nonetheless.

Other times, it's the Sharks who do the rejecting. Some pitches simply don't resonate, with Mark Cuban, Barbara Corcoran (who had some key advice for Gen Zers entering the workforce), and the rest stating that they're "out" and not making an offer. One such example of this was Rocketbook, which was presented to the Sharks on the Season 8 finale in 2017. Created by Joe Lemay and Jake Epstein for those who still prefer to use pen and paper in the digital age, the Rocketbook allows users to scan and save their handwritten notes in the cloud, wipe the pages clean and reuse it again and again. Though the Sharks ultimately passed on Rocketbook, it went on to have an impressive success story.

Sporting orange spacesuits, a nod to their futuristic revamp of a common product, Joe Lemay and Jake Epstein asked for $400,000 at 10% for the Rocketbook. Epstein said, "It doesn't matter whether you're a student or a shark. We just can't let go of pen and paper. It's our most natural form of expression. But meanwhile, the rest of our lives are digital and accessible across any device."

Rocketbook allows users to do both. They can write down their notes, but then use the Rocketbook app to scan those notes into their cloud storage of choice. With the hard copy no longer needed, the entrepreneurs then showcased the reusable aspect of Rocketbook, which involved microwaving it with a mug of water on top. While this process did clear the page, the Sharks weren't too impressed, even after learning that Lemay and Epstein had sold ~75,000 units and made $2.2 million in sales.

Barbara Corcoran said, "This is the funniest, wackiest, most ridiculous thing I've heard in a long time," but felt people would quickly get tired of the "gimmick." Kevin O'Leary couldn't understand why any business person would only aim to sell one of their products. Lori Greiner didn't enjoy all the steps required, while Mark Cuban (who has admitted his regret in passing on Bouqs) didn't see customers continuing to use Rocketbook after a few years. Lemay and Epstein left the reality TV series without a deal, but it wasn't the end for them or Rocketbook.

After all of the Sharks on "Shark Tank" passed on a Rocketbook deal, Joe Lemay promised, "We're going to build this into a major brand. Just like people thought, 'What could a Post-it note be?' Now it takes up all of Staples. We're gonna be like the operating system for paper."

In the years following their "Shark Tank" appearance, Joe Lemay and Jake Epstein did exactly that. After raising $1.3 million through Indiegogo, Rocketbook became an Amazon bestseller, selling more than 2 million units and having over 1 million app users. As of this writing, Rocketbook had a list price on Amazon of $34 with its rating standing at 4.4 stars.

Overall, Rocketbook's customers have positive things to say about it. One college student explained how they typically need to buy up to six notebooks every few months, but Rocketbook has alleviated that burden. Many others shared a similar sentiment about the reusable notebook, praising it for being easy to use and only having minor critiques, such as the trial and error of finding the best pen to go with it. Additionally, according to Rocketbook's website, clearing the pages has become easier since "Shark Tank." All users need now is a microfiber towel or spray bottle, with a microwave no longer required.