What Happened to Singtrix after the Shark Tank Pitch?

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What exactly is Singtrix?

Singtrix is a New York-based smart home karaoke gadget. Users may play music with the Singtrix kit by connecting in a smartphone or tablet.

Whether you’re listening to music from your own collection, YouTube, or the Singtrix app’s library of 13,000+ tracks.

The technology automatically removes the vocal recordings to allow you to sing along.

The Singtrix Party Bundle has everything you’ll need to begin rocking out: A 40-watt 2.1 channel speaker with an integrated subwoofer, two custom microphones, an adjustable mic stand, and phone and tablet holders are all included.

Singtrix is distinct from other karaoke machines in that it allows users to contribute harmony or even mimic the voice of their favourite performer.

People may adjust the amount of harmonic vocal compensation, making bad singers sound like pros and excellent vocalists sound like rock gods. This gadget can turn anyone into a genuine rock vocalist.

Who are the Singtrix Founders?

Singtrix was launched in New York City by John Devecka and Eric Berkowitz, who also created the original Guitar Hero.

It all started with Drumscape, a Karaoke drumming game they designed in the 1990s.

The pair had applied for and been granted patents on their idea after John produced the original prototype in his parent’s garage.

The world’s first drumming video game, ‘MTV Drumscape,’ was published in 1999 and became an instant hit in arcades throughout the world.

In 2004, Activision obtained all of John and Eric’s music game patents, and the first Guitar Hero game was published for the PlayStation 2 in 2005.

They were fed up with merely presenting phony rock grandeur to millions of people, so they shifted their creative eyes to the singing industry.

Karaoke is a worldwide phenomenon that originated in Japan and has now extended throughout the entertainment industry.

When it first arrived in America and Europe, it quickly became a popular and happy event for people of all ages, as well as a source of innumerable awful performances by those whose blood-alcohol level much surpassed their capacity.

The influence of Karaoke on several generations cannot be emphasized, but can such a delightful experience be enhanced further?

John and Eric felt it could, so they built an electrical toolbox capable of converting even the most discordant screech into a perfectly tuned vocal.

Singtrix was established in 2014, and they appeared on Shark Tank six months later, in October of that year.

What Happened to Singtrix During the Shark Tank?

John and Eric appeared on Shark Tank season 6 episode 7 looking for $1.5 million in return for a 5% share in the company. This equates to a valuation of $30 million.

They describe the Singtrix and show it in action. The Sharks laugh when John sings without Singtrix.

When he sings via the Singtrix, the Sharks are stunned! The Sharks are impressed as they discuss some of the unusual voice effects.

They explain how they sold their patents to Activision for Guitar Hero and tell the Sharks that they have sold $1.2 million in the previous six months.

A major consumer electronics distributor with a target of delivering 30,000 units this year.

The guys believe they want to collaborate with those who can help them better. Mark says he’ll become a client, but he’s already left.

Mr. Wonderful offers a $1.5 million investment, but only in exchange for a 50% stake in the company at first. Once his investment was repaid, his stake in the company would be reduced to 10%, and he would get a royalty of $2.50 per unit sold.

Robert Herjavec struck a better deal; he saw his involvement as a long-term investment and offered $1.5 million for a 20% stake in Singtrix with no further limitations.

Lori then offers $1.5 million for 30 %, then reduces her offer to 10% with a $2.50 royalty after 18 months.

The Sharks disagree, and Daymond then offers $1.5 million in exchange for a 25% ownership in the company. He would also finance the company’s orders, ensuring that none of his funds were utilized to support manufacturing.

The men offer $1.5 million in exchange for a 7% interest.

The sharks quickly lost interest when they saw John and Eric’s lack of flexibility, and they all retracted their bids and backed out in quick succession, leaving Singtrix without a contract in the tank.

What Happened to Singtrix Following the Shark Tank Pitch?

The transaction with the distributor mentioned in the Tank did take place.

VOXX Electronics secured worldwide distribution rights in late 2014.

In August of 2017, their Chinese facility burned down.

The area was completely closed off for months while the incident was examined.

The proprietor of the factory refused to disclose any information and avoided all engagement. In late 2017, it re-entered the market and shipped a few thousand units.

Soon later, the facility shut down again for Chinese New Year. They then stated that they will be closed till the end of the summer of 2018 in order to modernize.

The Singtrix lads kept their difficulties hidden from VOXX, straining their friendship.

VOXX terminated the agreement in 2018. The corporation was compelled to bear the sales losses since they lacked manufacturing insurance.

In 2019, they had an extremely successful IndieGoGo campaign that raised $330,739.

They were able to design a lower-cost system with the same functionality as the original product thanks to crowdsourcing.

They also formed a new collaboration with a separate Chinese company.

IndieGoGo helped them regain their footing and resume full-fledged production.

Fast forward to November 2021, and they are back in business with a $5 million yearly revenue.

What is Singtrix’s Net Worth?

John Devecka and Eric Berkowitz, cofounders of Singtrix, entered the tank seeking $1.5 million for 5% shares, valuing their company at $30 million.

They explain that it’s worth this much since they know what they’re doing and can make a lot of money.

The current net worth is unknown.

Who are Singtrix’s Competitors?

There are no known rivals for Singtrix.

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Singtrix FAQS

1. What is Singtrix?

Singtrix is an electronic karaoke instrument that makes every voice sound great.

It allows users to explore their vocal range, providing them with a new musical experience.

2. Who founded Singtrix?

Singtrix was created by two brothers who were inspired by the video game Guitar Hero.

John Devecka and Eric Berkowitz are the brains behind this product.

3. How much does Singtrix cost?

Singtrix is priced at $299 per unit.

4. What is website address of Singtrix?

The website address of Singtrix is www.Singtrix.com

5. Do they offer free shipping?

Yes, they offer free shipping on contiguous United States.

6. Will they ship internationally?

No, they only ship within the United States and its territories.

7. How much were they seeking in the Tank?

The founders of Singtrix sought $1.5 million for 5% stakes, valuing the company at ~$30 million.

8. Did they made deal with the Sharks?

Unfortunately, they did not make a deal with the Sharks.

9. Is Singtrix still in business?