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 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
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
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