OMAHA— PeggyBank, an Omaha-based company that digitizes and uploads old printed photos, slides and VCR tapes to the cloud, has merged with ScanDigital.com, a similar outfit in California.
The PeggyBank brand will remain intact, but the operation will be moved to a town called Torrance in the Los Angeles area. Terms were not disclosed.
Jim Simon said he has a tinge of mixed feelings—excitement for sure.
“It’s bittersweet,” the PeggyBank co-founder told SPN of the merger Wednesday. “They reached out to us and we had some components that they had and we were missing and we had some that they were missing.
Thanks to our sponsor
“It makes sense.”
ScanDigital is a seven-year-old company that was founded and bootstrapped by CEO Anderson Schoenrock. The merger and acquisition talks began around July and were finalized earlier this month.
PeggyBank, an operation that had 30 employees at its peak, will benefit from the production capacity of ScanDigital. The company has more than 50 employees and more than $10 million in revenue. Meanwhile, PeggyBank was struggling to keep up with customer demand that grew quickly, Simon said.
“They can turn around orders faster than we can,” he said.
PeggyBank brings its PeggyBank Vault to the table, a cloud service where the old media is instantly uploaded to a cloud service. ScanDigital had only sent out CDs and DVDs in the past.
The idea for PeggyBank came from years of Simon converting old family photos and videos into digital files as a gift for his siblings. Later, a summer camp needed help converting old media for an anniversary celebration. Just like that, he had his first paying customer, Simon told SPN in 2011 at the time of the company’s launch.
He said the company set itself apart from the few other competitors who were just putting the content on DVDs.
“If you’re just moving contents from one physical space to another, you’re still not going to use them,” Simon (right) said in 2011. “You’re just going to put them back in the drawer, in the box, stick them in the closet or the basement where they were before.”
In Feb. 2012, PeggyBank closed closed a $500,000 round. The company worked out of an office near 72nd and Dodge.
While PeggyBank moves to L.A. Thursday, Simon will still live and maintain an office in Omaha. Some PeggyBank employees have been offered jobs if they want to move to California but others have chosen to move on, Simon said.
ScanDigital is offering Nebraska customers 10 percent off with coupon code NEBRASKA10 for a limited time, according to the website.
Watch Jim Simon pitch PeggyBank at 1 Million Cups last year:
10 responses to “PeggyBank merges with California company, operations will move”
So when will the orders be caught up? I sent in an order in April and have yet to received anything back
Read around at facebook and various other sites – you’ve “been had”
So does this mean the orders will be processed in a more timely manner? I sent in an order in April and it is now over 7 months and nothing back. Keep getting the same run around…
It has been my experience with them, that you will (unfortunately) not see your money or your memories. They are a bunch of crooks and liars – you’ve been scammed. Contact the Attorney General.
PeggyBank was (is)?a TERRIBLE company. Took your precious memories (and money) and THEN started to hire people. I don’t have my material 10 months later. I call every few months and get the same old lies/promises. Just hope they have not lost them in their continuous moves.
I have contacted Groupon and the Better Business Bureau after reading the same excuses I have been given on my order and concerned on where my memories are. The fact that they charge everyone’s credit card and do not deliver a product is a point I want investigated. I would like a national news source to look into this company and address why consumers were never notified that this company was bought out and the fact that there memories were moved to another location.
Danny Lopez (ScanDigital) claims they have not merged even though they are at the same address. They’ve had my tapes since 12/2013 and won’t return them. They told me they can’t actually transfer them because they are wide screen DV tapes. But without explanation they will not return my tapes. Pretty sure this means they lost them. They also won’t refund my money, they say, since they “tried” to transfer them and already did the work. So much for the 100% money back guarantee both Peggy Bank and Scandigital have.
Has anyone asked for their videos/pictures back and gotten them? I’m trying to decide what to do.
I am absolutely sick and disgusted about this whole thing. Until today, I have not heard or seen that MANY others are experiencing the same issues I am. I have been very patient, although unhappy and irritated with PeggyBank. I am extremely concerned about the safety and return of my original VHS tapes that I sent out with complete trust in this company. I submitted my order in September. After numerous attempts over months to get an update on my materials, I finally found out in May, that my VHS tapes were “soon” to be downloaded. My order at that point, had not even been started. I paid over $200 up front for this work. Then the option I wanted, which was included in what I had already paid, was no longer available, so I had choose another option, and pay an additional fee for it. I was told May 15th, that my order was being processed and that is whey I paid for the flash drive (additional money). I was told my order would be complete and shipped out within two weeks. I called today, June 1st, over two weeks later, and still, my order has not been completed. I also got another email, saying my order was “almost” complete, I just needed to choose my method of media, and pay for it (which I already had done), and then it offered me the flash drive for $9.99 when I was given that option two weeks prior, at $19.99 and I paid for it then. Today, when I asked them why I was charged $19.99 for a flash drive if they were offereing it at $9.99. I was told, I should not have gotten that email, and it went out as a mistake! Makes no freakin sense! I told him I wanted a credit for the $10 difference. and he said he could not do it. because that is not really an option offered. Yet I have an email that CLEARLY states that it IS! Ugh! I pray we all get our precious memories back safely. My children’s father passed away when they were very young, and these home videos are nearly all they have to remember him by. Please pass the word to all your friends and family! DO NOT order from PeggyBank! Very deceitful and very unorganized!
I have also lodged a complaint with Groupon and BBB … bottom line they are AWFUL ! It was a sham in my eyes .. I sent my media in Nov 2014 ..
I got my media in July 2015 !!! The pricing was very vague and unclear
it turned out to be way more expensive AND they guys took forever
“because of volume” but I think that wait time was RIDICULOUS!
To boot their contact number was never answered and your voicemail was
full and the email response time was weeks!!! NOT happy at all and the
quality of the videos that came back were terrible. I brought them
somewhere else paid less and got better quality transfers .. VERY upset
with the whole thing .. waste of time and money.