Author Archive for owenld20 – Page 2

Scan App

The Scan App was developed in 2011 by Garett Gee and his friends while in college. He noticed that the tools of the time for generating and scanning QR codes and similar code formats was lacking on mobile device platforms. He set out to address this untapped market through his Scan App. He soon had millions of iOS downloads and monetized the app via affiliate links. At this point he added support for several other scalable code formats and appeared on Shark Tank where he was unable to secure funding. While this was a setback for his company, Snapchat inc. soon agreed to purchase the app for an appraised value of $54 million and is now heavily incorporated into the Snapchat application.

Gecko Robotics

Grove City College Alumni Jake Loosararian founded Gecko Robotics in 2012 to address the issue that in-person power plant inspections are insufficient to identify certain issues and are both dangerous and costly. This combination led him to employ his skills as an electrical engineer develop an inspection robot that could scale the walls to the power plant and conduct extensive inspections to provide superior inspection results in less time and at a lower cost.

in 2018 his company raised $7 million in Series A funding. This allowed the company to increase revenue and expand to the 110 employees it now hires. This company is a great example of the entrepreneurial process and the passion it requires. In the time between 2012 and 2018 Jake Loosararian had to subsist on as little as he could just to keep his venture afloat financially. This kind of unglamorous lifestyle is often necessary in the early stages of a startup and really tests the commitment of the founder to their dream.