Baking, painting, drawing, and art are just a few of the themes covered. There are over 1,000 distinct courses available, ranging from beginner to expert levels [1].
Some students lack creativity, especially in a world where art education isn’t prioritized. Entrepreneurs Dwayne Walker and Time Samuel created an art education platform to help kids and teens express themselves. After making their Shark Tank debut in Season 13, what will the investors think of this colorful idea? Keep reading our Sparketh update to find out.
In this blog post, we will be talking about Sparketh: an online platform that helps users create and sell digital art products. In this blog post, we will discuss what happened after the show aired and how the company has been doing since then.
What Is Sparketh?
Their platform not only provides tutorials but also gives space for children to share their work [2].
When you log into their site, you have the option to pick your hobbies, such as painting and drawing, and art. They also provide cooking classes apart from that. Following that, you must choose between advanced, beginner, and intermediate levels. The platform offers hundreds of art lessons via video lectures.
Customers only have to pay $25 to enroll in the courses, and the business offers a 30-day free trial. It’s just $250 for one year of registration, and purchasers get a $50 discount on top of that.
People who pay by the year can donate a year to a friend or family member. All they have to do is go to their dashboard and choose an activity like art, baking, drawing, or painting. The company also provides a 30-day free trial. Many home-schooling parents use the website for in-home art sessions. Others utilize it because it helps engage their children in enjoyable and creative activities while providing special rates for schools and school districts [3].
What Does Sparketh Do?
The courses are broken down into “tracks,” which cost $25 a month or you can pay annually for $250. If someone opts to pay yearly, they have the option of gifting a year to a friend or family member by logging into their dashboard and selecting an activity from options that include art, baking, sketching, and painting. The company also offers a 30-day free trial. This makes it especially popular among home-schooling parents who use it as an at-home art class alternative.
Others use it to have some fun and innovative adventures with their children. They also offer different pricing depending on the size of the school or school district [4].
Who Is The Founder Of Sparketh?
Creativity has always been important to Tim Samuel and Dwayne Walker, who met as children and have stayed friends ever since. Over the years they picked up new skills constantly.
Eventually, this led to them both working in creative fields: Dwayne became the creative director for CampFire Projects, while Tim freelanced as a video editor. In 2015, they decided to join forces and founded Sparketh together.
Dwayne has been a skilled artist since he was young, even winning multiple art contests at the national and international levels. However, he felt that he could use some more professional help to develop his skills further. This desire eventually inspired him to create the website.
Tim, a skilled video editor, is in charge of the company’s video creation. He films the tutorials and does the editing. Despite Tim being an enthusiastic entrepreneur, he suffers from sickle cell disease and has only a few more years to live according to doctors. Even though he spends most of his time in the hospital due to his condition, he joined the business with his friend confidently [5].
Sparketh Before Shark Tank
The Sparketh founders realized they needed funding to improve their website and create new content in order to expand their business. They decided to appear on Shark Tank in order to gain the investment they needed.
Sparketh On Shark Tank: The Pitch
In Season 13 Episode 3, Tim Samuel and Dwayne Walker appeared on Shark Tank. Dwayne Walker made a passionate case for 8% of the firm, which included an interactive art display with the sharks. They were seeking $100,000 for 8% of their company. The sharks seemed to be taken aback when they learned the numbers [6].
In 2020, Walker and Samuel made $300,000 in sales which is more than they’ve ever gotten in past years. Even though this sounds like good news, their customers only pay for 12 months of service instead of lifetime value. Also, it costs the entrepreneurs $51 to acquire each customer when really each one is worth about $160.
A few of the sharks seem uninterested because the business is only making ends meet with no profit. The owners state that they’ll use the money to generate more content and improve their website. They are expected to make $500,000 in sales by the end of this year. Will this be enough to persuade the sharks?
Lori Greiner was the first to drop out. She loves the idea, but she says she’s not an ‘app person,’ so it’s not for her. Kevin O’Leary, of course, has an issue with the high valuation. Since the company isn’t profitable, he doesn’t see it. While some entrepreneurs claim they continue working for the visionary outcome, Kevin only wants to see a return on his investment. So, he drops out too.
Mark Cuban says that he wants entrepreneurs to have something unique that will make them stand out from the competition. Youtube videos can do the same thing for free and don’t require a subscription, so since the entrepreneurs don’t have anything distinctive, Mark is out.
This leaves Barabara Corcoran and guest shark Daniel Lubetzky. Barbara says she’s looking for a reason to invest, despite the lack of profits. Barbara makes a bargain with the entrepreneurs since they have repeatedly claimed that if they wanted to, they could be successful. She is willing to give them $100,000 for 20% equity on the condition that they become profitable after 6 months.
Daniel Lubetzky, the smallest kid of five, is enthusiastic about Barbara’s concept. He praises Samuel’s fight with sickle cell and appreciates the entrepreneur’s passion. However, he thinks they’re taking it too lightly. Even if it means accepting a 10% stake, he’ll go in with Barbara because he wants to teach these entrepreneurs.
Because they accept, the four of them wrap around each other in a hug [7].
Sparketh Now In 2022
Despite the fact that nothing about it appeared on their websites, both Barbara and Daniel were Tweeting about the deal immediately following the concert, which suggests that it went off without a hitch. Several days after the initial airing date, the business released a press release indicating that the agreement was proceeding forward.
The connection between Sparketh’s founders, Barbara Corcoran and Daniel Lubetzky, and the sharks is still new.
Only time will tell if appearing on Shark Tank will be beneficial to Sparketh.
The Net Worth Of Sparketh
On Shark Tank season 13 episode 3, Dwayne and Tim presented a $100,000 offer for 8% of the company. This converts to a $1.25 million valuation. They accepted a $100,000 offer from Barbara and Daniel in exchange for 20% stock with one condition: they must be profitable within six months, bringing the valuation to $500,000. The current value is unknown [8].
Competitors Of Sparketh
Sparketh, like many other online enterprises, has rivals in the online education sector. Cambium Learning, Brilliant, and Abwaab are a few of them [9].
Cambium Learning was founded in 2000 and is headquartered in Dallas, Texas. As of 2020, the company had about 850 employees [10].
The website contains over 60 million different problems to solve. People can also take courses on the site for a fee [11].
The website offers different membership plans that allow users to access different features. Abwaab has a free trial period and a money-back guarantee [12].
Sparketh, like many of its competitors, offers a variety of courses on different topics. What sets Sparketh apart is its focus on art and creativity. The website contains both video lessons and downloadable PDFs.
The site also has a blog that discusses various topics related to art, creativity, and the creative process. Sparketh offers a free trial period and a money-back guarantee [18]. Users can cancel their subscriptions at any time.
FAQ
Did Sparketh become profitable?
Yes, after Shark Tank the company’s profitability saw a significant increase. Sparketh earns money by selling courses on a subscription basis to students.
How much is Sparketh?
The subscription for Sparketh users costs $25 per month or $250 per year [13].
Who invested in Sparketh?
The entrepreneurs’ desire to improve their lives motivated them to pursue the Shark Tank stage, where they pitched Sparketh, an at-home subscription art class and an investment from Barbara Corcoran and celebrity investor Daniel Lubetzky. The sharks offered $100,000 for 20% of the firm, as long as it became profitable in the next 6 months.
How do I cancel Sparketh?
If you subscribed to Sparketh through their website, you can cancel your subscription by logging into your account and following the instructions on the “My Account” page, and finding the “Cancel” button. If you subscribed through iTunes, you will need to cancel your subscription through iTunes [14].
It is unclear how many users Sparketh has. However, given that the company was only founded in 2016 and became profitable in 2017, it seems likely that they have a small but growing user base. It will be interesting to see if Sparketh can continue to grow and scale its business model in the future.
What is the revenue model of Sparketh?
Sparketh earns revenue through a subscription model, where users pay $25 per month or $250 per year for access to the company’s online courses.
Is there a free trial for Sparketh?
Yes, there is a free 30-day trial for Sparketh. After the trial, users will be charged $25 per month or $250 per year if they do not cancel their subscription.
Where is Sparketh located?
The headquarters of Sparketh is in Snellville, Georgia, United States [15].
Does Sparketh have a parent portal?
Yes, Sparketh has a parent portal where parents can monitor their child’s progress in the courses.
Can parents use Sparketh on their own devices as well?
Yes, parents can use Sparketh on their own devices by logging in with their child’s account. Sparketh is a company that offers subscription-based access to online courses teaching art skills. The courses are designed for people of all ages and levels of experience, from beginner to advanced.
Useful Video: Shark Tank US | Will Sparketh Accept A Joint Deal From Barbara and Daniel?
References
- https://biznewske.com/what-happened-to-sparketh-after-the-shark-tank-pitch
- https://insidergrowth.com/sparketh-net-worth/
- https://startupreneurship.com/what-happened-to-sparketh-after-shark-tank-pitch/
- https://biznewske.com/what-happened-to-sparketh-after-the-shark-tank-pitch
- https://geeksaroundglobe.com/sparketh-what-happened-after-shark-tank/
- https://sharktanktales.com/sparketh-shark-tank-update/
- https://sharktankrecap.com/shark-tank-sparketh-art-education-update-season-13/
- https://biznewske.com/what-happened-to-sparketh-after-the-shark-tank-pitch/
- https://geeksaroundglobe.com/sparketh-what-happened-after-shark-tank/
- https://www.cambiumlearning.com
- https://brilliant.org
- https://abwaab.com/en
- https://geeksaroundglobe.com/sparketh-what-happened-after-shark-tank
- https://sparketh.com/terms-and-conditions
- https://www.crunchbase.com/organization/sparketh