If GrooveBook sounds familiar, you may have seen it on the television show Shark Tank back in January. Founders Julie and Brian Whiteman took an investment of $150,000 in exchange for 80 percent of licensing rights from Kevin O’Leary and Mark Cuban.
Shutterfly makes its bread and butter on turning digital photos into books, enlarged posters, and stationary cards. In a bid to expand to the mobile market, it has scooped up GrooveBook. The Android and iOS mobile app turns accumulations of mobile photos (up to 100) into tangible, sharable objects for $2.99 a month. GrooveBook differs from Shutterfly in that its service is monthly rather than a la carte.
The acquisition will help Shutterfly expand its services and better access the mobile photo market. For GrooveBook, the acquisition presents an opportunity to scale its business. “Shutterfly is the industry leader and by leveraging their technology platform, expansive manufacturing footprint, and expertise in quickly scaling brands, we will be able to scale GrooveBook operations and grow it into a profitable, nationally recognized brand,” said GrooveBook founder Brian Whiteman in a press release.
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