In early 2011, Garrett Gee, a college student, anticipated that the release of the iPad 2 would revolutionize the technology industry. He made an educated guess that with the release of the second iPad, would come a wave of new and transforming apps. Gee wanted to create one of those revolutionary apps, so he took a shot in the dark and began planning to create a seamless QR code scanning app. When the iPad was finally released, Gee was able to quickly get his hands on one and was able to create his app called Scan, in a record two days. Within a month, scan had accumulated over 1M users. At its peak, Scan was being downloaded 85,000 times per day and by the end of 2012, the app had been downloaded 25M times. Gee had an extremely successful business model. Scan was a totally free app, and generated all revenue through advertisements. Gee’s business became so attractive, that it caught the eye of massive corporations like Snapchat. In 2014, Snapchat and Scan struck a deal and Scan was purchased for 54 Million dollars, 30 million in cash and the rest in snapchat equity. Garrett Gee is a perfect example of an entrepreneur that recognized a need, used intuition and risk, and created a revolutionary technology that was eventually acquired by one of the most promonate app companies in the world. Gee went from a regular college student to a multimillion dollar businessman in a matter of three years. Just goes to show what a little risk mixed with creativity and a forward-looking mentality can do.
Thats so cool how he saw an oppurtunity for innovation and leaped at it. ANd only in 2 ndays. That’s crazy!
Interesting to see how he foresaw the need for this app before the new iPad was even out. I think that is what really set his business apart because he was able to already have the app out in the marketplace before any other developers could even see the need.