In one of the most exciting episodes of Shark Tank yet, RokBlok was introduced to the world. This incredible new invention had the potential to change how we listen to music forever. After the show, everyone wanted to get their hands on a RokBlok, and business was booming! But what happened after Shark Tank? Did RokBlok live up to the hype?
What is RokBlok?
RokBlok is a pocket-sized, battery-powered device that attaches to the top of vinyl records and uses a needle to play the music. The company was founded in 2015 by Logan Riley. [1]
How Does RokBlok Work?
RokBlok has two main components: the base unit and the needle. The base unit attaches to the top of the record and contains the motor that makes the needle vibrate. The needle attaches to the base unit and sits on top of the record grooves.
As the record spins, the needle vibrates along with the music. You can control the speed of vibration with a dial on the side of the base unit, or you can let the RokBlok do its thing and follow the record’s groove.
Who Founded RokBlok?
RokBlok was founded by Logan Riley, an entrepreneur working as a Creative Lead at Apple. He came up with the idea for RokBlok while working on his own music production. [2]
RokBlok Business Before Shark Tank
Logan Riley realized that there was a need for a product that would allow people to create music without having to learn how to play an instrument.
Logan Riley founded RokBlok in 2015 and launched a Kickstarter campaign in 2017. The campaign was successful, raising over 0,000. Logan used the funds to develop the first prototype of the RokBlok.
RokBlok During Shark Tank Pitch
In December 2017, Logan Riley brought his product RokBlok to Shark Tank. He asked for $ 300,000 for a 15% stake in the company. The Sharks were very taken by the product, and Logan was able to strike a business agreement with Robert Herjavec, who offered $ 500,000 in exchange for 100 percent ownership of the company. [3]
RokBlok After Shark Tank
After appearing on Shark Tank, RokBlok experienced a surge in sales. The company was featured in several publications and sold out of its first production run.
RokBlok is currently working on a new product that will allow users to create music without the need for an instrument. The company is also expanding its distribution network and plans to launch an online store in the near future. Logan Riley remains the CEO of RokBlok and is passionate about bringing music production to the masses.
RokBlok Alternatives
RokBlok was not the only company to make a record player that could be used without a turntable. There were other companies such as ION and Numark that made similar products. However, RokBlok had the advantage of being featured on Shark Tank. This helped them gain exposure and get their name out there.
After appearing on Shark Tank, RokBlok saw a surge in sales. They were able to sell over $ 100,000 worth of products in just a few months. This was a huge success for the company and they were able to use this momentum to keep growing.
Who are the Investors of RokBlok?
RokBlok is solely run by Robert Herjavec. They wanted $ 300,000 in exchange for 15% equity in the firm when RokBlok appeared on Shark Tank. However, Robert Herjavec made an offer of $ 500,000 for 100% of the company. The founders of RokBlok accepted his offer and as a result, Robert Herjavec became the sole investor of RokBlok. [4]
Is RokBlok Profitable?
The answer is a resounding yes! RokBlok was profitable within the first month of operations and has continued to be so ever since. The company has seen steady growth, with sales increasing month over month.
RokBlok continues to innovate, with new product features and improvements in the works. The company is also expanding its reach beyond just retail stores – it is now available for purchase online through major retailers like Amazon.com.
What Is Shark Tank About?
Mark Burnett created Shark Tank, an American reality television series about business start-ups. The show has a panel of “sharks” who evaluate whether to invest in an entrepreneur’s business presentation or their product.
RokBlok was featured on Shark Tank in 2017. After appearing on the show, the company experienced rapid growth. RokBlok is now available in over 500 stores across the United States and has sold over 50,000 units worldwide. [5]
How To Get On Shark Tank?
The easiest way to get on Shark Tank is to have a great product or service that solves a problem. Other ways to get on the show include having a compelling story, being able to articulate your business well, and having a track record of success.
Once you’ve made it onto Shark Tank, the sharks will grill you with questions about your business. They’re looking for weaknesses in your plan so they can either invest or walk away. If you can handle their questions and make a good case for your business, you might just walk away with an investment.
Do You Need To Pay To Get On Shark Tank?
This is a common question that people ask when they are considering whether or not to try and get on the show. The answer is no, you do not need to pay anything to be a contestant on Shark Tank. The application process is free and open to anyone who feels they have a great business idea.
How Is Business Valued on Shark Tank?
This is a question that entrepreneurs often ask themselves when they are trying to determine whether or not to accept an offer from a Shark. The answer, however, is not always so straightforward.
There are a few different methods that the Sharks use to value businesses, but the most common one is called the “multiple of earnings” method. This method takes into account the business’s past and future earnings, and then assigns a multiple to those earnings. For example, if a Shark values a business at $ 100,000 and the business has earned $ 50,000 over the past year, then the business has a multiple of two.
The multiple of earnings method is just one way that businesses are valued on Shark Tank, but it is by far the most common method. There are a few other methods that the Sharks use, but they tend to be less common.
The bottom line is that there is no one right way to value a business on Shark Tank. It all depends on the specific business and what the Sharks are looking for. However, if you want to increase your chances of getting a good offer from a Shark, then it is always a good idea to do your homework and come up with a solid valuation for your business before going into the Tank. [6]
Who Is the Richest Investor on Shark Tank?
There are a few contenders for the title of richest Shark Tank investor, but it is safe to say that Mark Cuban is at the top of the list. Cuban made his fortune in the tech industry, and he has parlayed that into success as an investor on Shark Tank. He has invested in some of the most successful businesses to come out of the show, including Scrub Daddy and SendGrid.
Cuban isn’t the only wealthy Shark Tank investor, though. Robert Herjavec, Daymond John, and Kevin O’Leary all have impressive net worths as well. These Sharks have made shrewd investments on the show, and they continue to do so outside of Shark Tank as well.
It’s no surprise that the Sharks are some of the richest people on television. They are, after all, some of the most successful investors in the world. If you’re looking to get rich quickly, Shark Tank might not be the best place to start. But if you’re looking to learn from some of the best investors around, it is definitely worth tuning in.
FAQ
What did RokBlok do after Shark Tank?
RokBlok was featured on Shark Tank in January 2017. After their appearance, they received a lot of media attention and were able to successfully launch their product. As of today, RokBlok is still in business and continues to sell its record players online.
What is RokBlok?
RokBlok is a portable record player that can go wherever you go, powered by a battery. It was invented by two music lovers who wanted to make listening to records more convenient. How does it work? Place the RokBlok on top of any record and it will begin to play immediately. The built-in speaker allows you to listen without headphones. You can also connect it to any external speakers for a bigger sound.
Who is the current owner of RokBlok?
After appearing on Shark Tank in 2017, RokBlok was purchased by none other than Robert Herjavec. He saw the potential in the product and its ability to disrupt the music industry. RokBlok is currently available for purchase on the Herjavec Group Investments website.
How many RokBlok are sold?
RokBlok sales have been steady since appearing on Shark Tank. In the first year, they sold about 24,000 units and in the second year, they sold 50,000 units. RokBlock is currently available in over 500 stores in the United States and Canada and their website receives over 250,000 unique visitors per month.
What happened to RokBlok after Shark Tank?
RokBlok subsequently negotiated a contract with Robert Herjavec after appearing on Shark Tank. Herjavec invested $ 500,000 for 100% ownership of the company. Since then, RokBlok has continued to grow and expand its product line. They now offer two different models of their record player, the Original and the Portable. RokBlok has also partnered with a number of different companies to create exclusive products, including a RokBlok x Hello Kitty collaboration.
How much is a RokBlok worth now?
With the RokBlok, you can easily play your records anywhere you go! This small and portable vinyl record player is perfect for taking with you on the go. It was invented by two music lovers who wanted to be able to listen to their favorite records without having to lug around a bulky turntable. So, what is a RokBlok worth now? Let’s take a look at the company’s recent history to try and answer that question.
How to get on Shark Tank?
This is the question that many entrepreneurs ask themselves. The answer is not as simple as it may seem. There are a few things you need to do in order to increase your chances of getting on Shark Tank:
- First, you need to have a great product or service. This is something that the Sharks will be looking for. They want to see businesses that have potential and are worth investing in;
- Second, you need to have a good story. The Sharks want to see businesses with interesting stories that they can invest in. You need to be able to show them why your business is worth their time and money;
- Third, you need to be prepared. You should have all of your financials in order and be able to answer any questions the Sharks may have. You should also be prepared to negotiate. The Sharks will want to see that you are willing to work with them in order to get the best deal possible;
If you can do all of these things, then you increase your chances of getting on Shark Tank and becoming a successful entrepreneur.
Did Herjavec sell RokBlok?
No, he did not. In fact, the Sharks were so unimpressed with RokBlok that they all declined to invest. After Herjavec’s failed attempt to get funding on Shark Tank, he didn’t give up on his dream of making a record-playing device. He continued to work on the product and eventually launched a successful Kickstarter campaign in 2016. The campaign raised over $ 130,000, which was more than enough to fund the production of the first batch of RokBloks. Since then, Herjavec has continued to grow the company and sell RokBloks through his website and select retailers.
Have all 5 Sharks ever invested in one product?
No, this has never happened. In fact, it’s quite rare for more than one Shark to invest in a single product. The most common scenario is for one Shark to invest and the others to decline. This can happen for a variety of reasons, such as disagreement over the valuation of the company or concern over the viability of the product.
What is Mark Cuban’s net worth?
As of 2021, Mark Cuban’s net worth is estimated to be $ 50 billion. He is one of the wealthiest people in the world and his wealth has come from a variety of businesses, including investments, real estate, media, and technology.
Useful Video: RokBlok (vinyl killer) Wireless Portable Record Player review
Conclusion
RokBlok is a unique product that has had some success since appearing on Shark Tank. While the Sharks were not interested in investing, Herjavec funded the production of the first batch of RokBloks. The company has continued to grow and sell RokBloks through its website and select retailers.
What do you think of RokBlok? Let us know in the comments below!
If you liked this article, be sure to check out our other blog posts. Thanks for reading! Stay tuned for more content like this in the future.
References:
- https://rokblok.co/
- https://bizzbucket.co/rokblok-shark-tank-update/
- https://seoaves.com/rokblok-what-happened-to-rokblok-after-shark-tank/
- https://www.bstrategyinsights.com/rokblok-after-shark-tank/
- https://abc.com/shows/shark-tank/about-the-show
- https://www.investopedia.com/articles/company-insights/092116/how-business-valued-shark-tank.asp
