What Happened to the Toybox 3D Printer After the Shark Tank Pitch?
What is Toybox 3D Printer?
Toybox 3D printer is a printer designed for primary school-aged children (ages 6 to 9).
Kids may create their own logos using safe materials from a kit, relieving parents of one worry. They may also be produced in 3D, making each design genuinely unique.
They can create their own design or choose from an existing collection. In any event, they just load it up and print it as a toy for them to play with.
Everything they need to do to operate the Toy Box printer is done online or through a smartphone app.
They could make toys out of their massive internet catalog, including anything from automobiles to chess pieces to action figures.
Children can even design their own “block pal.” They can even create their own toy or use one from an image.
The printed toys are created by the printer food. It’s made of non-toxic, biodegradable PLA plastic made from maize oil.
The printer is totally constructed of metal and is designed for children’s safety. In contrast to industrial 3D printers, it is totally confined.
Who Founded Toybox 3D Printer?
Jenn Chin and Ben Baltes established Toybox. Before establishing their business, they each had different career paths.
Jenn Chin graduated from California Polytechnic Institute and began working as a product designer at Workday Corporation.
Ben Baltes, her business partner, had previously worked for Microsoft Corporation as a software engineer before starting Toybox Labs in Oakland, California.
They established the firm in September 2017 with a successful IndieGoGo campaign that raised $155,605.
What Happened to Toybox 3D Printer at the Shark Tank Pitch?
Ben and Jen contacted Shark Tank with a $150,000 offer for a 5% ownership in their firm, implying a $3 million valuation.
They reveal that they manufacture their product for $150 and sell it for $299 after showing it and giving out samples. They’ve made $300,000 total, including IndieGoGo sales, since the company’s inception.
The Sharks don’t think 6-9-year-olds will be able to manage the prototype item they gave out since it takes 4 hours to build.
Jamie argues that $299 is too expensive for a device that a youngster would quickly outgrow.
Mark was the first shark to leave, citing a lack of concentration.
Daymond was the next to back out of the deal, citing liability worries.
Lori follows Jamie out of the deal as quickly as she can.
Because there are no other offers, Kevin drops his offer to $150,000 for a 15% discount.
Ben and Jen respond with 12%, but Kevin seems unconcerned. They respond with another $150,000 for 13% and 2% advisory shares, which Kevin accepts.
What Happened to the Toybox 3D Printer After the Shark Tank Pitch?
They do not appear to have finalized their deal with Kevin as of June 2019.
They advertise the fact that they inked a contract with Kevin on the Toybox website, yet they aren’t listed as one of Kevin’s businesses on Kevin’s website.
This is because the transaction was never completed.
Toy Box has reached an agreement with Beano Studios, the makers of the Dennis & Gnasher: Unleashed animated series, which is accessible on Netflix in the United States.
In May of 2019, they raised $2 million in a venture round with six different venture capital firms.
In March 2021, Warner Brothers signed the largest license arrangement in history, including the DC Comics universe.
The company anticipated $24 million in revenue in June 2021.
What is the Toybox 3D printer’s Net Worth?
Ben and Jen visit Shark Tank with a $150,000 offer for a 5% share in their firm, implying a $3 million valuation. They accepted an offer of $150,000 from Kevin O’Leary for 13 % ownership, valuing the company at $1,153,846.15.
Who are the Toybox 3D Printer’s Competitors?
Toybox is competed with the following 3D printer companies: Form 2, Makerarm, Obsidian 3D Printer, Zooheads, MakePrintable, POPIN, ZMorph, and Jellies.
Toybox 3D Printer FAQS
How much does a 3D printer for a Toybox cost?
Toybox 3D printer costs $299.
When was Toybox on Shark Tank?
On March 11, 2019, Toybox aired.
Toybox was featured on which Shark Tank episode?
It aired as Episode 15 of Season 10 of the program.
What age group is the Toybox 3D printer intended for?
They’ve made it super simple to begin printing right away.
They give fun to the entire family.
Toybox is suitable for everyone above the age of five. They constantly advise children to use it under the supervision of their parents.
Is it true that Toy Box got a contract on Shark Tank?
They advertise the fact that they inked a contract with Kevin on the Toybox website, yet they aren’t listed as one of Kevin’s businesses on Kevin’s website. This is because the transaction was never completed.
How do they reset their toy box printer?
Unplug and re-plug their Toybox. Then, beginning in the top left corner, tap around the booting screen’s corners. A menu will be shown. Click the “reset” button in the pop-up box.
Is Toybox suitable for their children?
Toybox uses non-toxic PLA, a biodegradable corn-based filament explicitly designed for younger builders while eliminating potentially hazardous components found in other printers.
Because of its magnetic bendable construction plate, they also do not need to use any sharp tools to remove stuff.
What distinguishes Toybox from other 3D printers?
Toybox was designed from the bottom up with fun and ease of use in mind.
They enable youngsters to 3D print their own toys by giving an easy-to-use interface and a vast selection of high-quality toys and content.
They enable children to create richer experiences and stories with their toys by allowing them to design their own toys on the fly.
Are they able to upload their own models?
Yes. They may import models from the internet as well as their own creations into Toybox. Import models in STL, OBJ, and gCode formats.
Are they tethered to the Toybox system?
No. Other platforms’ models may be imported, and other 1.75mm PLA filament can be used. Their Printer Food Rolls, on the other hand, are Toolbox’s favourite, and they cannot guarantee that other rolls would not make Toybox sick.
What kind of printing materials are used?
In their Printer Food rolls, PLA is used. Because PLA rolls are non-toxic and biodegradable, they are the only ones they sell.
Is it possible for them to connect the printer to an electrical outlet?
Toybox may be plugged into any 100V-240V socket.
How long does printing take?
The geometry of the model being printed entirely determines the printing time. A little ninja star, for example, might be finished in less than 5 minutes due to its thinness. Larger models need more time.
How will they be able to import their own models?
They may add their own models by visiting the Creator Space and selecting the import option.
Can Toybox utilize different types of filament?
Toybox printer food is compatible with any other 3D printer that uses 1.75 mm filament.
What kinds of things can they print on a Toybox?
They can print any STL, OBJ, or gCode file from their Toybox. Don’t hesitate to get in touch with them at [email protected] if they have any questions or complaints about the Creator Space.
Who owns Toybox Labs?
Jenn Chin and Ben Baltes co-founded ‘Toybox,’ a 3D printer for designing and creating children’s toys.
