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Shark Tank US | Top 3 Pitches That Will Get You Ready To Go Back To School

Sony Pictures Television・24 minutes read

Brad, Lisa, and Greg seek funding for their company Tanoshi, which aims to make educational computers more accessible by offering a two-in-one tablet and computer pre-loaded with educational content. Despite concerns from the Sharks about market competition and low margins, the team ultimately accepts an offer from Damon to scale their mission of making learning fun for kids.

Insights

  • Tanoshi, founded by Brad Johnston, Lisa Love, and Greg Smith, offers the Tanoshi 21, a versatile device designed to enhance children's learning experience through educational content and parental controls, leading to successful sales and a mission-driven approach to education.
  • While facing concerns about market competition and low margins, Tanoshi's founders accept an offer from Damon for $500,000 in exchange for 20% equity, emphasizing a strategic shift towards licensing to larger manufacturers to overcome hardware challenges and scale their impact on children's education.

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Recent questions

  • What is Tanoshi?

    A company making educational tablets for kids.

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Summary

00:00

"Tanoshi: Making Learning Fun for Kids"

  • Brad Johnston, Lisa Love, and Greg Smith from San Francisco, California seek $500,000 for 8% equity in their company Tanoshi, aiming to make computers more accessible.
  • Tanoshi, meaning "fun" in Japanese, is their company name, reflecting their goal of making education enjoyable for kids.
  • They introduce the Tanoshi 21, a two-in-one tablet and computer pre-loaded with educational content and parental controls.
  • The device allows kids to do homework, play games, and learn to code, with parents having control over access and screen time.
  • Sales have been successful, with three sell-outs in the first year and a half, totaling $720,000 in sales.
  • Brad's background in the consumer electronics space and the inspiration from his family in education led to the creation of Tanoshi.
  • The Sharks express concerns about the competitive market, low margins, and customer acquisition costs in the hardware business.
  • Damon offers a deal of $500,000 for 20% equity, focusing on licensing the product to larger manufacturers to avoid inventory and hardware challenges.
  • Brad and his team accept Damon's offer, excited to scale their mission of making learning fun for every child.
  • The Sharks are impressed with the social mission and potential impact of Tanoshi, leading to a successful deal with Damon.

15:12

Investors admire Legloo, offer investment and guidance.

  • The investors express admiration for the entrepreneurs but decline to invest due to timing or other reasons.
  • A couple offers a $100,000 investment with a $1 royalty per unit sold until $200,000 is reached, showing belief in the entrepreneurs.
  • A young entrepreneur presents Legloo, a non-permanent adhesive for toy bricks, securing a patent at age 12.
  • Legloo has generated sales of $52,000 last year and $32,000 until May this year, with a cost of 43 cents per package and a selling price of $8.99.
  • The entrepreneur's dream was to appear on Shark Tank, aiming for retail distribution and a partnership with brick manufacturers.
  • An investor offers $80,000 for 25% equity, while another proposes $80,000 for 15% equity and assistance in securing a licensing deal.
  • The entrepreneurs accept an offer of $80,000 for 20% equity, excited to work with the investor and move forward with their product.
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