Shark Tank - Scan - Season 5

Garrett G introduces Scan, a mobile app that helps users scan and interact with barcodes and QR codes. He demonstrates how the app can quickly perform a price check on a camera's packaging and how it can link to a company's website, YouTube channel, or even social media like Twitter, showing how he can instantly follow an account.

Garrett explains that Scan started two years ago with two classmates, aiming to connect the real world with the digital universe. The app is available on iOS, Android, and Windows devices. Initially, it was free to build a user base, but now they are introducing paid features.

Businesses can use Scan to create QR codes linking to social media pages or directly to product purchase options. Garrett reveals that the app has over 51 million downloads and last month, 27 million people used the app to scan. He emphasizes that Scan offers a complete 360-degree experience, unlike competitors, by allowing businesses to create codes on their website and users to scan with their app.

Garrett outlines his monetization plan: keeping the user side free while charging businesses a monthly fee to host their custom codes. He admits they've only recently started focusing on monetization and have made about $3,000 a month in a beta program with existing large company users.

Kevin O'Leary questions the longevity of QR codes. Garrett reveals a partnership with Google, demonstrating how Scan technology integrates with Google Glass. However, some sharks are unimpressed, questioning the uniqueness and differentiation of Scan's technology, especially in a rapidly evolving tech landscape.

Garrett discloses that Scan has already raised $8.7 million from investors, including Google Ventures. The sharks express skepticism about his need for their investment, particularly given the high valuation of $20 million with an unproven recurring business model. Many sharks decline to invest, citing concerns about competition, lack of proprietary technology, and the future of scan-based interactions versus sensor-driven technology.