Entrepreneur Charles Freeman Greene pitched his story-writing technology business, Remento, on Shark Tank Season 16. Remento is an app that helps people record and save family stories and memories forever. It also guides users in recording special conversations with their loved ones.
The app sends weekly prompts to make it easier to record memories with photos. Additionally, it converts recordings into text and compiles them into a beautiful hardcover, color-printed book.
The book includes a QR code feature that lets users watch recorded memories by simply scanning the code.
The idea for Remento began in 2020 when Charlie’s mom got sick. He started recording a special memory with her and realized how important it is to preserve family memories. This experience inspired him, and in 2020, he founded Remento.
Charles asked the Sharks for $300,000 in exchange for 5% equity, valuing his company at $6 million. Eventually, he secured a deal with Mark Cuban for $300,000 in exchange for 10% equity, bringing the company’s valuation down to $3 million. As for an update, the exposure from Shark Tank has helped the company attract many new clients.
| Company Name | Remento | |
| Founder | Charles Freeman Greene | |
| Founded | 2020 | |
| Product | Story-writing app | |
| Asked For | $300K for 5% equity | |
| Final Deal | $300K for 10% equity | |
| Sharks | Mark Cuban | |
| Episode (Shark Tank USA) | S16 E12 | |
| Air Date | March 7th, 2025 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | Los Angeles, California, USA | |
| Lifetime Worth (Sales) | $2 Million *estimated | |
Who Is The Founder Of Remento?
Charlie Greene is the founder and CEO of Remento, a story-writing technology business he started in October 2020 after realizing the importance of preserving family memories.
Before launching his startup, he worked as a Business Development Intern at Hulu and served as the Director of Public Affairs at 21st Century Fox. He earned his MBA from Harvard Business School.
As of September, 2022, his company has raised $3 million in seed funding, led by Upfront Ventures.
How Was The Shark Tank Pitch Of Remento?
After appearing on Shark Tank, Charles explained his AI-based story-writing app, Remento, to the Sharks. He revealed that the base price for his service is $99 with a one-year subscription, and the average order value is $119. His business has an impressive 86% profit margin.
While sharing his story, Charles mentioned that he lost his father in the 9/11 terror attack on his 10th birthday. He wanted to preserve his father’s legacy but couldn’t do so. Later, his mother was diagnosed with stage three lung cancer, and he didn’t want to miss the opportunity to create memories with her. The good news is that his mother is now in full remission.
His business is now approaching its fourth year (2020-2024). In the last 10 months, he has generated $620,000 in sales and is projecting $1.5 million in sales by the end of 2024. For 2025, he expects sales to reach $4.6 million.
Daniel Lubetzky showed interest in Charles’ company and asked about total investments. Charles revealed that three years ago, he had raised $2.5 million at an $11 million valuation for a different product focused on in-person oral history conversations.
However, that model wasn’t sustainable, so he switched to an AI-powered storytelling platform and later raised another $1.5 million from existing shareholders, bringing his total funding to $4 million.
Lori Greiner inquired about the company’s shareholder ownership. Charles explained that he had sold 30% equity to three institutional investors and 10 angel investors, leaving him with 70% ownership.
Currently, he has $561,000 left in the bank from the raised funds. By 2025, he expects to generate between $1.5 million and $2 million in net profit.
Kevin O’Leary and Daniel Lubetzky teamed up to offer $300,000 for 20% equity. Ultimately, Charles accepted Mark Cuban’s offer of $300,000 for 10% equity.
Breakdown Sharks Offer
Note: Here’s a quick summary of the offers and counteroffers between the Sharks and Charles:
| Sharks | Offers |
| Kevin O’Leary | $150k for 10% equity (Daniel) |
| Daniel Lubetzky | $150k for 10% equity (Kevin) |
| Mark Cuban | $300k for 10% equity |
| Lori Greiner | No Offer |
| Barbara Corcoran | No Offer |
| Founder’s (Countered) | $300k for 10% equity |
| Final Deals | $300k for 10% equity |
Remento Shark Tank Update
After closing the deal with Mark Cuban, his plan is to enhance the AI-powered storytelling model to create a better experience for social media users. Mark believes this technology can be leveraged to improve how stories are shared and preserved online.
He later shared an update on his Instagram, stating:
Getting a “yes” from Mark in the Tank was a dream come true. But what matters most is what this means for our mission: helping more families preserve their stories for generations to come. @mcuban
What is Remento Net Worth?
The AI-based storytelling market is experiencing rapid growth and is expected to surpass $50 billion by 2030. Remento previously raised investment at a $3 million valuation, and the company’s annual growth rate is 11%. Based on this data and projected future growth, Remento’s estimated net worth is $3.33 million.
