What Happened to Surprise Ride after the Shark Tank pitch?
What is a Surprise Ride?
Surprise Ride is a monthly toy subscription service that delivers boxes filled with amusing and educational projects for your children to do.
All supplies, from paint to construction blocks, are included, along with straightforward instructions, allowing children to make their own toys or souvenirs.
The emphasis is on family fun, encouraging children to seek professions in STEM fields (Science, Technology, Engineering, and Mathematics), and keeping them away from electronic devices. Around 50 various projects are available through the business.
Who are the Surprise Ride’s Founders?
Surprise Ride was founded in 2013 by Donna and Rosy Khalife, two equally exceptional Lebanese-American sisters.
Donna has worn a variety of hats over her years as a Wall Street investor. She continued her schooling by receiving an MBA from Harvard and even attempted to pursue a career in Hollywood as an actor.
Following the acquisition of Surprise Ride, Donna founded Launch Sister Ventures with Rosy, undertakes speaking engagements, and has authored many business and children’s books.
Rosy continued her education at Boston University, where she is obtaining a master’s degree in gastronomy.
Surprise Ride’s merchandise is inspired by Donna and Rosy’s childhood memories.
They were reared in Lebanon as war refugees as small girls. Because they lacked access to toys, their inventive father engaged them in various do-it-yourself projects.
He was always making them laugh and instilling a feeling of adventure in them. They saw that youngsters nowadays (especially their nephews) are growing up differently and spending hours upon hours in front of devices after relocating to America.
They want to aid busy parents in offering offline hands-on activities for their children, and they knew that youngsters like getting postal surprises.
They constructed a fulfilment centre with specific designs in mind and after exchanging ideas using Google Docs (they resided in separate regions of the nation at the time).
They were fully aware, however, that the business would struggle to get off the ground and develop without significant funding from an investor and a wider market.
What Happened to Surprise Ride during the Shark Tank?
Donna and Rosy appeared on Shark Tank Season 5 Episode 9 in search of a $110,000 investment in Surprise Ride in exchange for a 10% share. This equates to a $1.1 million valuation.
They offer the monthly subscription by explaining how they worked with “experts to choose the best rides.”
They customize each Shark’s Surprise Ride kit based on their own preferences.
The Sharks are completely destroyed. Lori Greiner refers to it as a “really well-crafted, high-quality surprise box.”
The boxes are $29.99 per month, with an ongoing membership discount bringing the price down to $24.99 per month.
They’ve sold 800 boxes and had 220 active members in four months.
According to Kevin O’Leary, every business that approaches Shark Tank with an online subscription model must consider two factors: the cost of client acquisition and the value of the customer once acquired.
Females are equipped with their contact information. The acquisition cost per customer is $5.30 during a 12-month period, while the profit margin per client is $130.
The sisters have established a fulfillment center in Florida that is prepared to expand along with the business.
The Sharks are impressed with the girls’ business acumen and understanding of how the firm will grow.
Mark Cuban expresses concern over the investment’s sufficiency, while Kevin O’Leary raises the company’s worth.
Daymond John takes a contrary position to the value. He departs.
According to Kevin O’Leary, John is accurate. “I’m tempted,” he continues, “but I’m going to pass.” He has departed.
Robert Herjavec believes the girls underestimate the amount of “hustle” necessary to build the business from a start-up to a large-scale firm, but he makes an offer nevertheless.
He intends to pay them $110,000 in exchange for a 25% stake.
The ladies question whether any of the other Sharks are interested in making an offer. Lori Greiner approves of the gift boxes but believes the sisters do not need to invest in them. She believes that “you are capable of accomplishing this on your own.” She has departed.
Mark Cuban believes the duo is not prepared to transition from theory to practice.
After witnessing the women plead with Lori Greiner and having a conversation with Mark Cuban, Robert Herjavec decides to go out.
“You’re going to make history,” Kevin O’Leary said. “You entered Shark Tank with a deal and were unable to close it.”
The pair departs the Tank without reaching a deal with the Shark.
What Happened to Surprise Ride following its Shark Tank pitch?
Regardless of Herjavec’s change of heart, the women benefited from the well-known Shark Tank effect.
Their business surpassed the sisters’ initial target of 3,500 new clients in the first year and accomplished their objectives a full year ahead of schedule.
“Shark Tank elevated us to a level that we could not have achieved without a large amount of cash,” Donna says.
The duo has witnessed a big boost in brand recognition and sales without spending a single dime on advertising.
Despite Mark Cuban’s concerns that they “live in the realm of theory,” the pair has followed Lori Greiner’s advice and developed and operated their enterprise without the assistance of a Shark investor, coasting into the sunset on their success.
Mr. Wonderful seemed to have taken notice of their accomplishment. He approached the sisters following the show and invested in the business.
He contributed $50,000 in return for a 6% royalty on the investment until it was repaid, as well as a 12% share in the business.
In November 2018, Fat Brain Toys acquired the company for an undisclosed fee.
How much is Surprise Ride worth?
In November 2018, Fat Brain Toys acquired the company for an undisclosed fee.
Who are the Surprise Ride’s Rivals?
Surprise Ride’s primary competitors are HearthSong, Toy Joy, MindWare, Inc., Bitsbox, Geo Journey, and Junior Explorers.
What Happened to Remyxx after the Shark Tank?
What Happened to Switch Witch after the Shark Tank Pitch?
Surprise Ride FAQS
1. What is Surprise Ride?
Surprise Ride is an online subscription service that offers subscribers monthly packages of educational toys and activities for children.
2. Where are Surprise Ride’s headquarters?
The Company was acquired by Fat Brain Toys, a family-owned and run business situated in Elkhorn, Nebraska.
3. What is the website for Surprise Ride?
The Company was acquired and their website is www.fatbraintoys.com
4. Who are the competitors of Surprise Ride?
Surprise Ride’s primary competitors are HearthSong, Toy Joy, MindWare, Inc., Bitsbox, Geo Journey, and Junior Explorers.
5. What kind of things do they send?
Surprise Ride sends monthly packages of educational toys and activities for children.
6. Who founded Surprise Ride?
Surprise Ride was founded in 2013 by Donna and Rosy Khalife, two equally exceptional Lebanese-American sisters.
7. Does Surprise Ride ship internationally?
Surprise Ride ships throughout the World.
8. How much were Donna Khalife and Rosy Khalife seeking in the Tank?
Donna and Rosy Khalife were in search of $110,000 investment from the Sharks in exchange for a 10% share.
9. Did they get the deal from the Sharks?
No deal was reached with the Sharks.
10. Is Surprise Ride still in business?
Yes, Surprise Ride is still in business, though they’re now owned by Fat Brain Toys.
11. Is Surprise Ride acquired?
Yes, the company was acquired by Fat Brain Toys in November 2018.
