What Happened to BitsBox after Shark Tank?
What is BitsBox?
BitsBox is a monthly subscription package for kids aged 6 to 12 that teaches coding fundamentals via hands-on activities. BitsBox gives step-by-step instructions for youngsters to make their own models, games, and animations. BitsBox was created by a group of coding enthusiasts to teach children the fundamentals of coding.
BitsBox is a service that aims to teach children to code by assigning activities that require them to create and then build programs that can run on smartphones and tablets.
BitsBox prints out the step-by-step instructions for each aspect of a project and then allows youngsters to create it straight away.
The printing guide is sized such that a child may follow along without assistance from a parent. Each project includes a one-of-a-kind sticker or name card that may be utilized as part of the finished product or shared on social media.
Who is the originator of BitsBox?
Bitsbox was developed by former Google employees Scott Lininger and Aidan Chopra. Scott was creating a prototype for his daughter that would pique her interest and keep her engaged in computing.
Bitsbox, a coding subscription box for children, evolved from that prototype. The two agreed to leave their jobs and give their full focus to the company.
They established their firm in late 2014, following a successful Kickstarter campaign that raised $253,696.
BitsBox is a service that teaches children to code through a series of apps and app projects. They have more than 800,000 users all across the world.
Every month, a child is allocated a number of app tasks. The difficulty of the coding exercises varies, and they span a wide range of subjects and languages.
Essentially, the code is modified by the youngsters to make the app their own. Kids enter the code into the BitsBox website and immediately begin playing with the program. The learning modules vary every month and educate via repetition.
There are three subscription options, including a $19.99 monthly digital option and a $25 monthly basic service.
It also contains a binder and tasks specified on glossy cards, as well as a deluxe edition for $45 each month that includes extra knickknacks like toys, trade cards, tattoos, stickers, and more. They are also developing educational materials for schools.
What Happened to BitsBox During Their Shark Tank Pitch?
Following a successful Kickstarter campaign, Scott and Aiden decided to pitch their business idea to Shark Tank investors in the hopes of forming a partnership.
Scott and Aiden enter the market, asking $250,000 for a 3% ownership in their company, worth $8.33 million.
Scott has a little girl named Grace whom he is using to demonstrate the program. Grace displays a video game she built using the software.
Before she tells the Sharks she wants to be a bionic limb developer, Chris Sacca asks whether she’s ever programmed, and the Sharks get straight to work.
Scott goes over the cost and the many options available. Each box costs about $10 to make and is intended for youngsters aged 6 to 12. Their sales had reached $1.3 million over the course of two years.
Scott and Aiden have already funded $550,000 at a $4 million valuation.
Kevin was irritated by the valuation they brought to the pitch, but Scott agrees. Lori immediately expresses her decision to get out of the deal.
Kevin then went out from the deal, indicating that he wants to see Chris and Mark compete for this business.
Robert is aware of the space, but he refuses to be a part of it; he is also outside.
Mark believes in what they’re doing, but he feels they’ll need more cash, therefore he’s also left.
Chris was the final Shark on the pitch, and he offered $250,000 for 20% ownership of the business, which was valued at $5 million.
Aiden goes on to say that they have other investors with whom they must collaborate. Chris emphasizes that the other investors are not Sharks.
Chris emphasizes that the other investors are not Sharks. Chris feels insulted and withdraws from the arrangement after several back-and-forth talks. Finally, the two Friends walked away from the pitch without a deal.
What happened to BitsBox after it was rejected by Shark Tank?
Scott and Aiden both received money from separate investors at the valuation they asked for after leaving the presentation without an agreement. They increased their business in a month after appearing on Shark Tank.
The company added three new employees, increased its office space, and built a video studio. Bits Box is presently one of the leading coding education firms for children.
In July 2020, the company’s total revenues reached $11 million.
Many rivals exist in the industry, including KLUTCHclub, PupBox, Faithbox, Little Passports, Mystery Tackle Box, Beauty Box 5, Japan Crate, and JustReachOut.
BitsBox’s net worth
During the pitch, the company’s valuation was $8.33 million, and they have made a lot of sales through subscriptions and recruited additional investors, therefore the company’s valuation in 2021 has increased.
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What is BitsBox all about?
The firm offers a subscription-based approach to facilitate kids an opportunity to learn how to code.
How much does it cost?
There are different price tiers, from a $19.99-monthly digital option and a $25 basic option to the deluxe version for $45 each month that includes extra charms like toys, cards, tattoos, and stickers.
What is the coding process?
There are four levels of lessons and each one builds on the previous. The coding process begins at the most basic level. At this level, children have an opportunity to experience basic coding, which includes changing text into shapes, changing colors, and creating animations.
They then move on to lessons that focus on algorithms, building games or apps that include increasing difficulty in creating and modifying code.
What is the coding level?
The coding levels are developed for anyone aged six to 12 years.
Who uses BitsBox?
BitsBox attracts young children who are interested in coding as an alternative to traditional video games. This company has also been dubbed ‘The Minecraft for Children’.
Its users are predominantly children aged 4 to 12, but it caters to many other demographics. The company claims it reaches locations all over the world from France, the United States, and across Europe.
How does BitsBox work?
The BitsBox software is a computer program that allows kids to modify and create their own programs. The program is developed using the CodeMonkey software.
The CodeMonkey software which is continually being updated provides an interface with the user interface (UI). This is used to develop games and apps using LUA, PLU, Volito or BitsBox code.
What are LUA and PLU?
LUA is a scripting language that primarily enables creators to create simple programs that can be modified with simple steps such as inserting a new element into an existing code.
What are Volito and PLU?
Volito and PLU are used for the creation of games. The coding process begins with the creation of an object or sprite that can be modified manually or automatically.
What is BitsBox coding?
BitsBox allows people to code in their own way, as the company does not offer any kind of coding standard that needs to be followed for BitsBox to work.
What is the BitsBox gratification process?
The process of gratification includes the creation of an avatar that can be modified through coding. The avatar can be a pet, a character, a tree or any other object. It can also be modified with tattoos and stickers that can be applied to the avatar.
What is the BitsBox process?
The process begins with the creation of an avatar and the introduction of the game or app. The process could be used to either personalize an avatar created by the user or to build a new game.
The users can personalize their own creations in a simple manner using spaceships, friends, pets and other objects that they would like in their creations. They can also finance their creations with a monetary reward from BitsBox.