PageDip (formerly Beneath The Ink) Shark Tank Update – Net Worth 2024

eBooks have become increasingly popular in recent years due to their convenience and accessibility. People didn’t just want to read a story. They wanted to engage with it on a deeper level. Digital reading offered the perfect platform for that kind of interaction. Alex Milewski and Sherisse Hawkins recognized a unique opportunity to elevate the reading experience. 

They founded Beneath The Ink, recognizing that digital readers often crave more immersive and interactive content. The duo walked into the Shark Tank seeking $350,000 for a stake of 10% in their company. Did they manage to secure a deal from the Sharks? Find out in our Beneath The Ink Update!

PageDip (formerly Beneath The Ink) Net Worth

Alex Milewski and Sherisse Hawkins asked for a $350k investment in exchange for 10% equity in their company, Beneath The Ink. This meant they valued their company at $3.5 million. They did not make a deal with any of the Sharks, so the valuation remained the same at $3.5 million. After the show, Beneath The Ink rebranded as PageDip and shifted its focus to a content management software platform. By 2022, the company became profitable and generated $2.5 million in annual revenue. With an estimated 10% yearly growth rate (typical business growth), the current net worth of PageDip (formerly Beneath The Ink) is about $3.025 million.

Beneath The Ink Shark Tank Update

What Happened To Beneath The Ink After Shark Tank?

Beneath the Ink rebranded as PageDip, shifting focus to a content management software platform. They shifted their focus and became a subscription content management software platform. By 2022, the company became profitable and generated $2.5 million in annual revenue.

Did Beneath The Ink Get a Deal On Shark Tank?

Kevin believed that they were just at the start of a challenging journey, so he decided to pass.  Mark saw their concept as an extension of existing technology and chose not to invest. Lori found the idea too complex and opted out as well. Barbara thought that they had a cool concept. But ultimately, she was not convinced and decided to decline. Robert felt that they were still in search of a solid revenue model and decided not to invest.

Shark(s) Name	Offer and Demand	Counteroffer	Accepted?
Kevin O’Leary	Out	N/A	N/A
Robert Herjavec	Out	N/A	N/A
Barbara Corcoran	Out	N/A	N/A
Lori Greiner	Out	N/A	N/A
Mark Cuban	Out	N/A	N/A

Founders Backstory

The pair conceived this idea with the goal of streamlining the reading experience by addressing a common frustration. The disruption that occurs when readers need to look up a word or concept for more information. That required pausing the flow of reading and searching for relevant details, which could be time-consuming and distracting. To solve the problem, Beneath The Ink developed a system of specially crafted links that were embedded directly into the text.  Those links provided readers with instant access to a wealth of additional information like detailed maps, accurate pronunciations, and relevant images. All were provided within the same reading environment. It ensured that readers could deepen their understanding of the content without losing their focus.

Initial Pitch

Alex and Sherisse entered the Tank seeking $350,000 in exchange for 10% equity in their company, Beneath The Ink. They introduced their innovative platform, which they refer to as “Binks” or Beneath The Ink links. It was designed to transform the eBook reading experience by embedding interactive content directly into the text. The pair demonstrated how these Binks can be seamlessly inserted into stories to reveal additional information. The technology empowered authors to expand on their narratives by providing adjacent content that deepens readers’ engagement. 

Beneath The Ink’s platform was compatible with all mobile readers and tablets, making it accessible to a wide audience. Authors and publishers had the flexibility to decide whether to offer this enhanced content for free or at an additional cost. Readers, in turn, could choose to engage with the Binks or simply continue reading without interruption. The company offered a groundbreaking way to elevate the digital reading experience.

Queries About the Product

Mark raised concerns about the annotation process required for their technology. He noted that it was time-consuming and costly since the book needed to be specifically enabled with “Binks.”  Alex responded by explaining that the process involved an online portal where authors uploaded their books and then input the relevant details, linking them to the text. Robert looked into it from a consumer’s perspective. He inquired whether readers needed to download a special Beneath The Ink version of the book. Alex responded affirmatively. 

 Mark asked where their income came from. Sherisse explained that they had three revenue streams. First, a licensing model targeted at large corporations. Second, an author subscription fee of $12.00 per month; and third, an export fee of $199.00 for publishing the enhanced content. Barbara then asked about the total cost to an author for using their service. Alex replied that it would be less than $1,000. Robert followed up by asking who pays them the royalty. Alex clarified that the royalty came from the content owner or publisher. 

Kevin questioned whether a “Binked” book costs the same as a regular eBook. Alex responded that readers were generally willing to pay 10-20% more for content enhanced with “Binks.” Mark then asked about their sales figures, to which Sherisse admitted that they were pre-revenue. Mark further inquired how long they had been in business, and Sherisse stated that they had been operating for two years and had raised $640,000 in their first round of funding.

Kevin expressed skepticism, stating that their model would only work if major publishers released “Binked” versions of their books. He then asked how many titles had been “Binked.” When Sherisse revealed that they had only eight titles, the Sharks were surprised by the low number. 

Robert pointed out that for Beneath The Ink to be successful, they needed high-profile books from major authors. He asked if they had approached any well-known authors. Sherisse confirmed that they were in discussions with several large authors, though nothing had been finalized yet.

Shark’s Response and Final Deal

Kevin expressed his concerns by stating that they were at the start of a very uncertain journey. He believed their business model was still unproven. This led him to decline the investment opportunity. Mark echoed those sentiments. He added that they were merely extending existing technology and noted that they would need far more capital than he would be willing to invest. Their company had competition they were not even aware of. As a result, he decided to opt out as well.

Lori commended their innovative approach to enhancing the reading experience. However, she found the business model too complex to be profitable and declined the offer. Barbara shared her doubts about the business’s potential for success and chose to bow out as well. Robert expressed that it was too early in their journey. They were still in the process of figuring out their revenue model. He noted the lack of a clear path forward and decided not to invest either.

What Went Wrong With Petrol on Shark Tank?

The Sharks voiced concerns about the business being in its very early stages. They were uncertain about the potential for success and expressed doubts about future profitability. This lack of clarity about the company’s future prospects contributed to their decision not to invest.

Product Availability

The business is not functional anymore.

Conclusion

Alex and Sherisse walked into the Shark Tank, seeking $350,000 for a stake of 10% in their business. The Sharks appreciated the thought behind enhancing the reading experience but were not convinced to make an investment. They believe the business was still in its early stages. The pair walked away with no offer.