On the hit show Shark Tank, aspiring entrepreneurs have the chance to pitch their business ideas to a panel of millionaire investors. If the sharks like what they see, they may invest in the company, giving it the boost it needs to succeed. Recently, one company that appeared on Shark Tank was Codi. What happened to them after the show?
What is Codi?
Codi robot is a fun way to keep your little one entertained while they learn! It is an 8.5-inch tall robot with artificial intelligence, which includes content prepared by caters and instructors specifically for children [1].
The Codi is a great way to help your little one learn and have fun at the same time! It has 130 built-in stories that are customized for different ages, as well as an option of telling them how things work or why certain behaviors happen. Its programming features the input of teachers and caters to maximum benefit for growing minds.
Codi the robot is a perfect nightlight and sound machine for your child’s bedroom. It can be programmed to play soothing music when they need help sleeping, or motivate them with some tunes that will develop some motor skills!
Codi may be used for many purposes, including teaching children how to brush their teeth. The use of Codi can help children develop social skills and emotional intelligence. Moreover, language learning is made possible with this interactive AI.
Codi robot is great because it not only entertains but also educates young children. The app is customizable to fit the parent’s needs, and you can remotely monitor all activities from anywhere in the world.
With the ability to store data both online and offline, this robot is perfect for those who need a little help managing their home. The battery life lasts up 10 hours on average which means you won’t be running out of power anytime soon!
What’s better than a robot with pajamas? A snuggly, cute little robodragon in bed! The child can also dress up their very own robotic dragon by purchasing plush clothing from their store.
Who is the Codi Founder?
Three entrepreneurs with different backgrounds came together to found Codi Robot. These are the founders of this company: Dayu Yang, Chris Oslebo, and William Mock [2].
When Mock joined the company in March 2018, he brought along his extensive knowledge of early childhood education. With a Master’s degree and years spent teaching kindergarten students, it was no wonder that this young entrepreneur wanted to make an impact on their future generations too!
Mock’s passion for helping kids shines through even brighter now after having successfully navigated through some challenging times.
The three entrepreneurs have come together to create something that is not only innovative but necessary. The founders of the company are trying to make a difference in children’s lives by providing them with an early childhood education that will help all kids grow and develop.
Founders’ Story
Dayu, the founder of Codi says that he was inspired to create this product after experiencing his own childhood in the American household.
His love for classic PBS shows like Mr. Rogers and Reading Rainbow in childhood made him realize how important it is to have quality educational entertainment today. That can be used as a tool against illiteracy or even just help kids learn more about themselves through different types of teaching toys [3].
The Codi Robot is a product of years and hours spent on research, which can be attributed to the three creators’ commitment to designing an entertaining educational experience.
In order for them to create this successful machine, they had initial twenty concepts that each featured different aspects but still maintained their overall function as well being friendly towards children thus creating The Codi Robot!
The designers found that the Codi robot was by far their highest performing concept, and it’s loved not only by children but also parents.
Did Codi Get a Deal on Shark Tank?
The short answer is yes, Codi did get a deal on Shark Tank. But not without some drama first.
Their goal was to get 500 000 dollars for a 10% stake.
The entrepreneurs are pitching their products to the sharks. They describe it in detail and show how much codi costs per unit, making sure, not one penny goes unappreciated by these key players within this industry who can make or break your company’s success!
They estimate that they will sell 16 million units in the next year alone!
The entrepreneurs were ready to go, but… The conference attendees are still in shock from Robert’s offer of 25% equity for $500k. They can’t believe it, but they accept and end up making a deal with him before leaving the Tank!
Unfortunately, Robert didn’t make an investment after the show. He said that he had to think about it.
Is Codi Still in Business?
Yes, they are!
When the Codi Robots appeared on TV, they experienced an overwhelming response from viewers, and several were sold to interested parties.
The classic stories stored on this robot are read by professional voice actors, who give life to the characters in each story.
The coolest little robot in the world is here and it’s just begging for attention. This adorable creature can be found on common sites like Amazon or eBay alongside outfits that will make anyone feel like they’re from another galaxy!
This device can’t be missed out in today’s world where technology rules everything around us!
The robot was awarded one of the best inventions in 2021 by Healthline Parents!
FAQ
How much is Robert from the shark tank worth?
Robert Herjavec is worth an estimated $200 million.
How do you charge Codi Robot?
Codi Robot is charged through a USB port.
How long does it take to charge Codi Robot?
It takes about two hours to fully charge Codi Robot.
Is Codi Robot available in stores?
Yes, Codi Robot is available in select stores and online retailers.
What colors does Codi Robot come in?
Codi Robot is available in gray color. But you can buy a cure pajama for it.
Is Codi from Shark Tank still in business?
William, Dayu, and Chris enter the Shark Tank seeking $500,000 for 10% equity in their business. They revealingly tell their product’s story and give a riveting pitch. The Sharks all get a sample of Codi.
They cost $25.76 to make and retail for $149.99. In the past year alone, they had generated $260,000 in sales with a gross profit margin of 10%. Plans for expansions into the future include developing a paid version of the Codi app.
Lori decided not to pursue the project because she thought the market was too competitive. Robert declined because he didn’t think the team would be able to keep children’s attention focused on the product. Barbara wasn’t interested because she didn’t believe it would be profitable. Mark passed for similar reasons; he doubted their ability to scale production effectively. Kevin also chose not to invest because companies like Google and Amazon were developing products with similar purposes.
Although all of the Sharks have left, the guys continue their sales pitch. They project 16 million in sales for next year and explain that their manufacturer, who is also an investor in the company, will provide them with a deal on direct import purchase orders from retailers. The sharks express interest in helping them to obtain these retailers and Robert comes back into the room offering $500,000 for a 25% stake in the business. The deal is accepted.
Though the deal with Robert never came to fruition, the robot was named one of Healthline Parents’ Best of 2021 in January. As of August 2022, the company is still up and running with annual revenue of $1.2 million.
How is Codi doing now?
Codi is a fun, educational storytelling robot that uses modern smart home technology. It was created by Dayu Yang, Chris Oslebo, and William Mock.
The robot toy was designed to teach children up to age 7 and discourage their excessive use of mobile phones and tablets. The toy works as a personal attachment friend that kids love playing with.
Codi is engaging, beneficial, and incredibly cute. With 130 stories and age-appropriate recommendations, your kids will always have something to enjoy. Additionally, 100 classic songs make sure that there’s never a dull moment. But if you’re looking for something more calming, Codi also offers a “slow playlist” designed specifically for sleeping or relaxing purposes.
And if your child has any questions while they’re using it, Codi can respond accordingly! Plus, parents can control all of its functions from the Codi app – making things super convenient and easy to monitor.
Codi is still in business after Shark Tank, and her products are available from retail chains as well as on her own website.
Who invested in Codi Shark Tank?
In fact, this is what happened to Codi after Shark Tank.
Mark Cuban noted there is much competition in this area because many large companies, such as Amazon Alexa for Kids, are present. Kevin O’Leary stated that since Google and Amazon are already involved, it would be very difficult to beat them. Consequently, he withdrew his offer.
Even though all the “sharks” were not impressed, the founder of Codi Robot did not give up. He pitched to them constantly until one shark, Robert, finally showed interest. After hearing the pitch, Robert agreed to offer $500k for 25% equity in the company.
The entrepreneur countered Robert’s offer by asking for $500k in return for 15% equity. Not willing to give up that much of the company, Robert Herjavec responded with a counteroffer of his own: $500k for 25% equity.
Dayu Yang, Chris Oslebo, and William Mock signed a deal with Robert Herjavec for $500k for 25% equity in their company. The terms of the agreement state that the founders make a profit of up to 50% on every sale. After one month, sales showed growth and the company was doing well overall.
Even though this company’s deal with Robert happened a long time ago, in 2022, Robert still has not closed the deal.
What is Robert Herjavec’s net worth?
Robert Herjavec is a Croatian-born Canadian investor, businessman, and television personality with an estimated net worth of $200 million as of October 2022.
After founding BRAK System, a Canadian integrator of Internet security software, Herjavec sold the company to AT&T Canada for an impressive $30.2 million dollars.
What age is Codi for?
The Codi toy is intended for children aged twelve months and up. It is made with artificial technology and has full visibility; it can be controlled through a phone. This Codi uses voice-enabled learning algorithms that provide content to children via artificial intelligence.
Codi is a storyteller, songwriter, and daily routine coach for kids. Through the Codi app (iOS and Android), parents can encourage their kids to do daily routines on their own, like cleaning their room or brushing their teeth.
Parents can have the content delivered to their children as they see fit. The product is made from high-quality, stain-resistant ABS plastic and soft, food-grade silicone while being Codi safe and durable.
Before enrolling your child in school, Codi provides them with the social skills they need to make friends and communicate effectively.
What are the advantages of Codi from Shark Tank?
The Codi Robot is an advanced, interactive toy that will keep your kids entertained while also teaching them. Without using a screen, the Codi Robot can cover a broad range of topics and subjects. This makes it perfect for kids who are 12 months or older.
Pros of using Codi robot:
- Tells 130 stories;
- Excellent for child’s mental development;
- Intelligent and interactive;
- Entertains and teaches children;
- Plays 100 nursery rhymes and songs;
To set up your Codi robot, follow these steps:
- Download the app and install it on your device;
- Follow the instructions to create an account;
- Connect Codi with your home Wi-Fi network;
- If prompted, update the firmware;
- Restart the toy – it should now be ready for use;
What are the disadvantages of Codi from Shark Tank?
One disadvantage is that Codi relies heavily on its smartphone app, which may not be accessible or user-friendly for all customers. Additionally, there are concerns about the security of personal information stored on the app. Finally, there is a potential for Codi to contribute to consumer overspending and accumulation of debt if users are not careful with their spending habits.
Who is the richest person on Shark Tank?
Mark Cuban, joining Shark Tank in its second season, has been successful both on and off the show. With an estimated net worth of $5 billion according to Celebrity Net Worth, he is the richest shark. His first three companies that received a million-dollar investment from him were Rugged Maniac Obstacle Race, Ten Thirty-One Productions, and BeatBox Beverages.
Useful Video: The Sharks Struggle to Believe If Kids Will Love Codi | Shark Tank US | Shark Tank Global
Final Thoughts
Overall, I was really pleased with how Codi performed on Shark Tank. They were able to articulate their vision and mission well, and they came across as very passionate about their product. I think the Sharks saw that potential and invested accordingly.
I’m excited to see what Codi does in the future, and I think they have a bright future ahead of them. I’ll be keeping an eye on their progress and I’m sure they’ll have many more successes in the years to come.
I hope you enjoyed this post. If you did, please consider sharing it with your friends or subscribing to my blog.
What are your thoughts on Codi? Have you ever tried this product? Let me know in the comments below. Thanks for reading!
References:
- https://thecinemaholic.com/update-on-codi-from-shark-tank/
- https://biznewske.com/codi-robot-shark-tank-update/
- https://www.pinoymoneytalk.com/codi-shark-tank/#How_did_Codi_start