RokBlok by Pink Donut Update | Shark Tank Season 9

The innovative and portable design of the RokBlok immediately impressed the sharks due to its ability to play records and stream audio to Bluetooth speakers or headphones. Logan Riley came to Shark Tank in hopes of convincing the sharks to invest $300,000 in exchange for 15% equity in his company. Let’s see if any of the sharks were willing to take the risk before we jump ahead and get a RokBlok update from the modern day.

Shark Tank RokBlok by Pink Donut Update

RokBlok by Pink Donut Update

  • Entrepreneurs: Logan Riley
  • Business: Portable Record Player
  • Ask: $300,000 for 15% equity
  • Result: $500,000 for 100% equity + $5 royalty in perpetuity
  • Sharks: Robert Herjavec

The sharks loved RokBlok and its innovative creation of this portable record-playing device but they did have some concerns about how niche the market might be in the modern day where many people are discarding their record collections for digital versions of their favorite old music.

Manufacturing a single unit costs about $23 and is currently being sold for just under $100. Logan told the sharks about his margins and some of them were concerned about the expensive price point. The company’s total sales are a little over $400,000, most of which came from a Kickstarter crowdfunding campaign for the company, years prior.

Mark Cuban and Barbara Corcoran believed the product hadn’t been tested in the public market and couldn’t convince themselves to risk the money on this particular investment. They both dropped out but Kevin O’Leary was interested and decided to offer $300,000 in exchange for 50% equity.

Robert Herjavec decided to also make an offer of $500,000 for the entire company and a $5 royalty in perpetuity. Logan ultimately decided to sell his entire company to Robert on Shark Tank in exchange for $500,000 and a royalty on every unit sold of RokBlok. Let’s get a RokBlok update to see how the company has been doing since Logan Riley sold his company.

The company has generated millions of dollars in annual revenue since appearing on the show and continues to do very well on the public market. Logan is supposedly still collecting a royalty on every unit sold and additional updates about the product are still available on the RokBlok website.

Robert seems to have made a very wise decision on purchasing the company from Logan on Shark Tank during Season 9, and we’d call this RokBlok update a success!

You can find the other company updates from Season 9 Episode 13 here:

Don’t forget to take a look at our Season 9 products page! We’ve got more company updates from Shark Tank Season 9.