Today we’d like to introduce you to Darlene And Ken Tipton.
Hi Darlene and Ken, we’re thrilled to have a chance to learn your story today. So, before we get into specifics, maybe you can briefly walk us through how you got to where you are today?
Video: https://www.youtube.com/watch?v=3Y0IQ5Mi2HU
As retirees from the entertainment industry, we are excited to fully embrace our role as grandparents. Unfortunately, our grandchildren have been alienated from us since 2016, with no explanation given. We have tried many times to get our daughter to communicate with us without success. Her narcissism is something she can’t control.
We explored options to serve as foster grandparents for families lacking grandparents, but couldn’t find any.
Consequently, we chose to withdraw funds from our retirement account to establish FosterFolks.com.
We were shocked to find out that many of our FosterFolks users are also alienated from their grandchildren.
Grandparent alienation is a sick and selfish form of child abuse perpetrated by the parents, causing lifelong harm to their children. June 14th marks Grandparent Alienation Day.
We launched FosterFolks.com in April 2024. Our growth has been amazing, thanks to simple Facebook ads and the fervent support of our users who promoted FosterFolks on their social media accounts.
Shark Tank: In May 2024, we were contacted to audition for Shark Tank. They loved our concept. While I can’t share details due to their NDA, a memorable moment was when Shark Tank interviewers approached us at dinner. They mentioned that in over 50,000 auditions, they had never seen such a unique business concept.
They called FosterFolks a “unicorn” startup. A “unicorn” website has the potential to be worth at least $1 billion through an initial public offering (IPO), especially since we have NO competitors, and our concept is viable in every country on earth.
At the Shark Tank auditions, we saw people interviewing those lined up to get their audition wristbands. Initially, my wife and I thought they were prescreening auditionees, but they were actually representatives from private equity firms looking to scoop up business opportunities. After discussing FosterFolks with these people, many wanted to reconnect in Los Angeles, our home. After due diligence, we met with nine of them. Their interest in investing in FosterFolks led to multiple offers, the highest being a $15 million buyout, which was declined after a mentor advised us to secure a professional 409A startup valuation before making any deals.
FosterFolks IPO: Currently, FosterFolks is only available in the USA, but it plans to expand globally after launching its IPO in 2026. Darlene and Ken could become the oldest senior entrepreneurs to be founders of a unicorn startup.
Would you say it’s been a smooth road, and if not what are some of the biggest challenges you’ve faced along the way?
Sometimes Bad Things Happen for a Good Reason: When we shared details online about our audition for Shark Tank, FosterFolks.com crashed in July 2024 due to overwhelming interest. With a history of owning several successful businesses (see our bios below), we chose to use our retirement funds to start over and create a new FosterFolks website on Amazon servers, capable of accommodating an unlimited number of users globally.
https://www.fosterfolks.com/darlene-tipton
https://www.fosterfolks.com/ken-tipton
Appreciate you sharing that. What else should we know about what you do?
https://www.fosterfolks.com/darlene-tipton
https://www.fosterfolks.com/ken-tipton
In terms of your work and the industry, what are some of the changes you are expecting to see over the next five to ten years?
We presented our FosterFolks idea to Bernard Kim, the CEO of the Match Group, which owns the world’s
largest online match-making platforms, including Match.com, Tinder, OKCupid, Plenty of Fish, and others. They
requested that we develop a Proof of Concept (POC), which is currently operational. Since our target audience
does not compete with their existing users, we aspire to be acquired by the Match Group, aiming to serve as
brand ambassadors for FosterFolks, reminiscent of how Colonel Sanders was retained to promote Kentucky
Fried Chicken. If we cannot finalize a deal, we will proceed with an IPO in late 2026.
Pricing:
- Our Website is Free
Contact Info:
- Website: https://www.fosterfolks.com
- Facebook: https://www.facebook.com/FosterFolksInc/
