What Happened to Trobo After Shark Tank?
What is Trobo?
Trobo is a talking plush robot that teaches very little about science, math, technology, and engineering (STEM). It works with an iPads app and employs games, stories, and quizzes to engage the child’s attention.
It tells stories that answer children’s queries, such as “Why do birds fly?” How do Smartphones work? What is the definition of lightning?
The Trobo app and toy were developed by two fathers from Orlando who previously worked in the theme park and gaming park development businesses.
Harden obtained the most of his experience as an EA Sports development director, whereas Scheinberg graduated from Penn State University and has worked for Disney, NBC, and Universal.
Trobo approached them after they had their children and began to consider how the world was affecting their children.
Who are the inventors of Trobo?
Trobo was invented by Orlando-based engineering fathers Jeremy Scheinberg and Chris Harden, who previously worked on theme park and gaming park development.
The idea for Trobo originated after they had children and began to investigate how the world was impacting their children.
As he watched Sophia (Jeremy’s daughter) spends hours learning to be a princess, Jeremy yearned for something crucial for her development. He wanted to share his love of technology and engineering with Sophia. Trobo was created after the two met at the Startup Weekend event in Orlando.
Originally, they intended to develop a programmed robot, but they later altered their thoughts and decided to include a speech-enhanced robot that could be utilized with iPads.
What Happened to Trobo at Shark Tank pitch?
Jeremy Scheinberg and Chris Harden introduce Trobo, their plush robot that talks and tells STEM stories to kids via an accompanying app, in exchange for Shark’s support in scaling up production and an infusion of funds for inventory and future development in Shark Tank episode 23 seasons 7.
Chris and Jeremy entered the Shark Tank in seeking of a $100,000 investment in return for a 10% ownership in Trobo, which valued at $1 million.
They demonstrate the cuddly robot and explain how it wirelessly connects with a tablet or iPads to create unique stories that children may play and read along with.
The stuffed animal serves as a speaker. The plush toy and the first five stories were included in the $59.95 price of Trobo.
They’ve had 600 orders from small to medium-sized businesses. They feel they are ready to enter the kid educational toy sector after having stories published in 45 media outlets.
Mark Cuban was unimpressed. He doesn’t feel the concept is strong enough to capture the market with crowd-sourced stories and a stuffed toy that is only a gimmick for selling the technology. He went out.
Kevin O’Leary adds, “You can’t sell a $50 plush toy with a speaker in it.” It’s not going to work. The genuine thing isn’t going to work for $4.
Everyone has access to a profusion of free content for children’s books. Free. “There is no fee.” He’s out because he doesn’t believe big-box stores like Target and Walmart would offer the item.
Chris brings up Teddy Ruxpin, a toy that sold for $70 a unit in 1985. “That was a different time, when technology wasn’t as advanced as it is now,” Daymond John responds. He also went out.
Lori Greiner regards the $50 price bracket as a “real challenge.” She goes on to claim that, despite presenting Trobo to toy fairs, they haven’t received a positive response from huge retailers. She believes it was a bad portent for the future, so she quits.
Robert Herjavec was the last Shark standing. Chris makes one more emotional plea, describing his origins as the son of a single, alcoholic mother who encouraged him to rise above hardship by focusing on his academics.
Trobo is a “content delivery product,” according to Robert. He believes that a firm such as DreamWorks, with whom he has previously spoken, may acquire the technology as a new method to monetize their content.
He makes the couple an offer: $100,000 in return for 33% ownership of the firm in exchange for signing a licensing deal with DreamWorks.
Chris replies with a $166,000 offer in exchange for a 33% share in the company. Robert accepts the offer, securing a Shark deal for the Trobo squad.
What Happened to Trobo After Shark Tank?
Following the airing of an episode, we monitor the progress of the featured businesses, whether they receive funding or not, and report on their success.
Despite the fact that the two shook hands with Robert in the Tank, the deal did not go through.
Non-disclosure agreements prevent the entrepreneurs from sharing the facts of what happened to bring the purchase to a halt, but it’s probable that DreamWorks’ interest in Trobo was tepid, and Robert’s legal demands were too demanding for the two.
They are still riding a wave of success as a result of the Shark Tank impact, but Trobo stock has fallen.
Trobo is still available on Amazon and on the couple’s website, and the pair plans to license its “content delivery platform” in the future.
In 2017, the company went out of business. The following statement is posted on their website as of May 20, 2021: The book Little Robot, Big Dreams: The Highs, Lows, and Lessons Learned of a Toy Startup chronicles their journey. It’s available on Amazon.
Trobo’s primary competitors are Anki, Furhat Robotics, BrainPOP, and BOOKR Kids, among others.
Trobo’s Net Worth
During the pitch, the firm was valued at $1 million; however, the company went out of business in 2017 and hence the company net worth is unavailable.
How did Trobo work?
The robot could be connected to a tablet or iPads via Bluetooth. When it was connected, the robot would tell stories that had been downloaded onto the device.
What was Trobo made of?
Trobo was created as a plush toy, but it also had electronics inside. It was made out of velour.
How could Trobo be mass produced?
The company says they could make enough of them to sell each item for the cost of shipping. They were hoping Shark Tank would help them scale up manufacturing and distribution to create a steady income stream so they could focus on other ventures, such as licensing the technology to other companies.
What was the shipping cost of Trobo?
The toy would ship directly from China at a cost of $6.95, which the company says they could then get the entire toy made for.
What was Trobo return policy?
If something was damaged in shipping, they would return the item and send a new one free of charge.
Was Trobo safe to use?
The makers say they tested the product with children.
How long was the battery life of Trobo?
The battery would last 12-15 hours, according to the creators.
Were there any additional costs involved in Trobo?
According to the makers of Trobo, a child’s parent would need to download multiple stories on their device. They also had a stage where there was a little bit of script for the robot, but it wasn’t necessarily a complete story.
What were the target audiences of Trobo?
Trobo was designed for ‘kids’ (or a childlike audience) who loved robots and stories.
How long did it take to create Trobo?
The team took around 6 months to design and create the robots. They say they could have mass produced them in around 4-5 weeks if need be.
What colors were available?
Customers could get their Trobo in either black or white, but the primary target was children.
What was the delivery period of Trobo?
The delivery period was around 3-4 months, including shipping.
Was Trobo compatible with other tablets?
It had been built for iPads only at that point. The company wanted to expand eventually to Android devices, but needed assistance in acquiring more funding in order to do so.
How did Trobo make money?
The company made money from the sale of the robot, and were planning on licensing their service to other manufacturers to produce stories for children.
What were the payment methods accepted by Trobo?
Payment had to be made via PayPal, and they wouldn’t accept cash on delivery.
How did Trobo use its story-telling technology?
Trobo essentially used a tablet as a delivery mechanism, allowing it to download and play stories through the app. The idea was to help teach young children that were too young to read or write.