Learning is interconnected with technology these days. It’s important for children to have computer skills, as some standardized testing is done on computers instead of paper. Tanoshi, a company headed by Greg Smith, Lisa Love, and Brad Johnston, hope to bring computer literacy to all, even children in low-income families. How did they do in the tank? We’ll find out in our
Shark Tank Tanoshi Update
- Entrepreneurs: Greg Smith, Lisa Love, and Brad Johnston
- Business: Tablet with preloaded education app for children
- Ask: $500,000 for 8% equity
- Deal: $500,000 for 20% equity
- Shark: Daymond John
Tanoshi’s tablets and computers for children are affordable and accessible. At the time of filming, the company had $720,000 in year-to-date sales and sold out three times since launch. They didn’t have a huge margin on sales, which put some of the sharks off of the company.
Mark Cuban was the first to go out. He said the field was too competitive, and they needed to reduce costs or raise prices. Kevin O’Leary followed, stating that he hated the commodity hardware space and that they needed too much help.
Guest shark Anne Wojcicki loved the mission, but it would be a challenge to get it to kids. Because of this, she went out. Lori Greiner agreed that the market was too competitive, and she went out.
This left Daymond John. He made an offer contingent on licensing: $500,000 for 20%. He said that they could continue with their software as well. The entrepreneurs counter for 15%, but Daymond says he believes in the mission too much. As a result, they accept his offer. How are they doing now? Our
Tanoshi really came through for kids during the pandemic. They began offering a new model, the Tanoshi Scholar. This company was more durable and included access to meeting programs like Zoom. Our Tanoshi update research revealed that their current annual revenue is around $4 million.
But what about the other company updates from Season 11? You can find the rest of our episode coverage below.
After that, make sure to stop by our Season 11 products page for all of our Season 11 company updates.