Flag Photo’s founders, Savannah Cowley and Samuel Agboola, hoped to reel in an investor for their free photo printing service. They asked for $375,000 in exchange for 5% equity during
Shark Tank Flag Update
- Entrepreneur: Savannah Cowley and Samuel Agboola
- Business: Free photo printing service
- Ask: $375,000 for 5% equity
- Result: No deal
- Shark: None
Flag is a limited free photo printing service that makes money from purchases beyond the additional free printed photos. Users also have to pay to download the app. Savannah and Samuel entered the
Kevin O’Leary was the first to pry into their business, asking the owners why others in the industry wouldn’t just use the same model. At the same time, the technology wasn’t proprietary, which was another red flag. However, according to the founders, the additional investment they hope to secure will help them move production of the photos in-house. The sharks weren’t happy when they found out that the company was still raising money outside of
Because of this revelation, Barbara Corcoran and Kevin took their respective leaves. Lori Greiner followed after, expressing her concerns about the free offering and advertising. The same went for Mark Cuban, who just couldn’t convince himself to take the plunge. Guest shark Chris Sacca was the last to bow out, echoing Mark’s thoughts that so many things can go wrong with how they do their business.
After the sharks decided that they couldn’t get their investments back, let’s talk about what happened to the company in our Flag update.
In doing our research for our Flag update, we found that it is no longer available on the iOS app store. To make matters worse, Flag had to raise another $300,000 on another Kickstarter campaign to keep the business a float.
Flag eventually went offline in April 2017 and hasn’t been heard from since. Backers still haven’t received their refunds.
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Don’t forget to check out our other Season 8 company updates on our Season 8 products page.