Bitsbox Update

Bitsbox Coding for Kids Update | Shark Tank Season 8

Scott Lininger and Aidan Chopra came to Shark Tank Season 8 to pitch their company, Bitsbox, which offers coding projects for kids. Despite the success of the company, the two were not able to secure a deal. We’re following up with a Bitsbox update.

Shark Tank Bitsbox Update

Bitsbox Update

  • Entrepreneur: Scott Lininger and Aidan Chopra
  • Business: Monthly coding projects subscription for kids
  • Ask: $250,000 for 3% equity
  • Result: No Deal
  • Shark: None

Coding, by its very nature, isn’t very enjoyable. It lacks the visual input and feedback to be entertaining to most children. This is what Bitsbox aims to address. By making coding more engaging and fun to learn, Scott and Aidan are hoping to get kids coding from scratch. The subscription service gives kids monthly coding projects that cater to their experience level, all while teaching them valuable skills.

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According to their presentation, Bitsbox achieved $1.3 million in revenue by the time they’d appeared on Shark Tank. Naturally, this impressed the sharks. However, Lori Greiner admitted that she had no experience in the subscription business, so she was out. The next was Kevin O’Leary, followed by Robert Herjavec, who thought that there was far too much competition in the industry.

Mark Cuban raised concerns about how the business would scale going forward and would ultimately go out as well, leaving Chris Sacca as the only shark available. Luckily for the duo, Chris was interested because he thought it was important that kids learn to code at an early age.

Unfortunately, Chris’ offer, $250,000 for 5%, was too low. While they tried to counter with a $7 million valuation at 3.57% and eventually 4%, this was just too high for Sacca.

The two would attempt to bring Sacca back in at 4.16% at a $6 million valuation and then at 4.75% before thinking about accepting Sacca’s original offer. Despite several attempts, Chris was firm in his decision.

As for our Bitsbox update, we’ve got excellent news. Appearing on Shark Tank allowed Bitsbox to triple its business in a span of a month. The two also ended up raising the money they needed from other investors at a more favorable valuation. Since then, the company has grown exponentially, establishing itself as the top coding program for kids on the market.

The most recent reports suggest that the company has surpassed $11 million in total sales as of July 2020.

Curious about the other company updates from Season 8 Episode 17? Find them here:

For more company updates from Season 8, check out our Season 8 product page.

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Kimberly is a writer for Shark Tank Recap. She has written episode summaries and updates across multiple seasons of Shark Tank, with a focus on complete and accurate information since 2021. She believes that getting the business aspects of each deal correct is extremely important for viewers and fans. Her favorite Shark Tank products are The Wobbles and Rocketbook!