Remento Update | Shark Tank Season 16

When Charlie Greene lost his father in the 9/11 attacks, he realized there were so many things he would never get to ask him. Years later, when his mother was diagnosed with cancer, he didn’t want to lose her stories too. That’s why he created Remento, a service that helps families turn recorded memories into keepsake books, so their history isn’t lost. Let’s find out if Charlie secured a deal in our Remento update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to Remento after Shark Tank.

Charlie entered Shark Tank Season 16, seeking $300,000 for 5% equity in his technology-driven memory preservation service. After his pitch, he landed a deal with Mark Cuban for $300,000 for 10% equity.

In terms of a Remento update, the company saw a surge in website traffic, sales, and social media engagement following its Shark Tank appearance. Furthermore, the company leveraged its partnership with Mark Cuban to refine its AI-powered Speech-to-Story technology.

Shark	Result
Mark Cuban	Accepted offer of $300,000 for 10% equity
Kevin O’Leary	No offer
Daniel Lubetzky	No offer
Barbara Corcoran	No offer
Lori Greiner	No offer

Shark Tank Remento Pitch

• Entrepreneur: Charlie Greene
• Business: Technology-driven memory preservation service
• Ask: $300,000 for 5% equity
• Result: $300,000 for 10% equity
• Shark: Mark Cuban

Charlie stepped into Shark Tank to pitch Remento, a business that helps families preserve their history.

His company creates life story books that turn spoken memories into written keepsakes. Unlike traditional journals, Remento eliminates the need for writing, making it easy for anyone to use.

The service follows a digital-first model with a physical product. Each week, it sends storytelling prompts to a loved one.

These prompts, which family members can customize, include personal questions or old photos. Recipients respond by recording their answers.

There’s no need for an app, login, or password. Remento’s speech-to-story AI then converts the recordings into written narratives. These stories are compiled into a hardcover book.

Each book also includes a QR code that links to the original voice recordings. This allows families to hear their loved ones tell their own stories.

Remento sells directly to consumers using a subscription-based model. Customers pay $99 for a one-year digital subscription and a printed book.

The average order value is $119 with optional add-ons. The cost to produce and ship a book is $16, leaving an 86% profit margin.

Mark Cuban raised a concern. He asked if the product could integrate with social media to engage younger users. Charlie assured him that the platform was designed for digital access.

Guest shark Daniel Lubetzky then shifted the focus to Charlie’s background. He asked how Charlie became such a strong presenter.

Charlie shared that he lost his father in the 9/11 attacks at age ten. As he grew older, he realized he had many unanswered questions.

When his mother was later diagnosed with stage 3 lung cancer, he knew he couldn’t miss the chance to ask her the things he never got to ask his father.

Fortunately, she went into full remission, but the experience reinforced his belief in preserving memories.

Kevin O’Leary brought the conversation back to the business. He asked how long Remento had been operating. Charlie said the current product launched ten months ago, generating $620,000 in sales.

He projected $1.5 million in 2024 and $4.6 million in 2025. Daniel then asked about personal investment. Charlie admitted his investment was small, but the company had raised $4 million from investors.

Lori Greiner wanted to know how the business had changed. Charlie explained that Remento originally focused on in-person oral history conversations.

Over time, the company pivoted to an AI-powered storytelling model. Barbara Corcoran asked how much money was left from the initial funding. Charlie said $561,000 remained.

Barbara then asked if he was okay with the financial loss. Charlie disagreed with calling it a loss. He explained that the money went into research and development, which led to a one-of-a-kind product.

The sharks had concerns about the amount of funding already raised. Kevin said he wouldn’t invest for only 5% equity.

Daniel agreed, saying he would want at least 15%. Barbara decided to sit this one out.

Mark then asked when Remento would become profitable. Charlie predicted profitability in 2025, expecting $1.5 to $2 million in net profit. Mark followed up, asking if the company would need to raise more money. Charlie said no.

Mark saw potential and made an offer of $300,000 for 10% equity. Charlie hesitated. He asked if part of the equity could be in advisory shares. Mark agreed.

With that, Charlie secured a deal with Mark and a strong partner for Remento’s future.

Now, let’s check in for a Remento update.

Shark Tank Remento Update

Our Remento update found that the company experienced increased website traffic, sales, and social media engagement since its airing.

Furthermore, the partnership with Mark Cuban led Remento to redefine its AI-powered Speech-to-Story technology.

The future looks bright for Charlie and once the dust settles, we will bring you another Remento update.

For other company updates from Shark Tank Season 16, Episode 12, look below:

• Kidd Coffee Update
• GoodLove Foods Update
• The Happy Birdwatcher Update

Before you go, be sure to check out our list of all the Shark Tank Season 16 products.