Shark Tank: Rocketbook Fails to Get A Deal

Next into the tank are Jake Epstein and Joe LeMay of Rocketbook, seeking $400,000 for 10 percent equity.

Rocketbook is an intelligent notebook that allows users to write with a traditional pen and notebook. The notebook is erasable and reusable by allowing users to send notes to the cloud. Simply use a smartphone to send writings to the cloud and a microwave oven to erase for future use. The notebook comes in two sizes and costs $27.00. According to their website, pages can be microwave-erased up to five times. “In order to maximize your book’s utility, we recommend waiting until you have filled all pages of your book until you erase.”

They’ve sold 75,000 notebooks, totaling $2.2 million but Kevin O’Leary questions why they wouldn’t attempt to sell more than one book given that it’s erasable. They are all amazed, however, that it actually erases. O’Leary points out that an iPad could achieve the same effect.

Barbara Corcoran worries that it could be viewed as a gimmick and goes out, as does Robert Herjavec. O’Leary calls it “crazy” and goes out as well. Lori Greiner likes that they reinvented the notebook but worries about how many steps are involved. Mark Cuban, rendered speechless, goes out too.

Social Media Reacts to Rocketbook’s Appearance on “Shark Tank”

Kind of surprised #Rocketbook didn't get a deal on #SharkTank. Could easily see that novelty grossing 10mil in sales.

— ThePoliticalAbstract (@PoliAbstract) May 13, 2017

#Rocketbook #SharkTank I actually really like it. If I had more of a use for a note book it would be worth it

— JustAnother (@MrsGrendalFaust) May 13, 2017

It's a great novelty, but I think I'll stick to my iPad and NotePad #RocketBook #SharkTank

— Johnathan Cooper (@DigitalBizDude) May 13, 2017

$27 for a $1 item just so I can MICROWAVE it!? It's the Lean Cuisine of stationary but 10x more expensive & useless! #StopTheMadness!

— Kevin O'Leary (@kevinolearytv) May 13, 2017

I kinda want a #RocketBook. #SharkTank

— Travis Lee (@TLeeG) May 13, 2017

@RocketbookCorp Rocketbook was very innovative. I like writing notes in a book, then having digital options. #SharkTank

— Coach Megson (@jmegsonee) May 13, 2017

Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging business to six multi-millionaire and billionaire investors, known as sharks: Mark Cuban, owner of the Dallas Mavericks; Daymond John, fashion mogul and founder of FUBU; Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group; Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC; and Robert Herjavec, technology guru and founder/CEO of the Herjavec Group. Venture capitalist Chris Sacca is also slated to appear as a guest shark this season.

“Shark Tank,” which is based on “Dragons’ Den,” is produced by Mark Burnett and first debuted in 2009. To date, the sharks have invested more than $87 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Friday at 9 p.m. on ABC.

Would you use Rocketbook? Sound off in the comments section below!