Gauri Nanda pitched Toymail in
Shark Tank Toymail Update
- Entrepreneur: Gauri Nanda
- Business: Two-way communication plush toy for kids
- Ask: $250,000 for 2.5% equity
- Result: $600,000 for 5% equity
- Shark: Chris Sacca and Lori Greiner
Toymail is a plush toy that connects to a proprietary app. Using this, friends, families, and kids can talk to each other without using a phone. At the time of Gauri Nanda’s presentation, Toymail had several plush toys in its collection already, including the cute and adorable Bitsy the Bat, Nunu the Unicorn, and Gory the Shark.
During the pitch, Gauri revealed that she’d already secured investments from Amazon and Verizon. They’d invested $1.6 million combined. However, this also meant that she didn’t have as much equity to offer the sharks. Because of the low equity in the deal, Robert Herjavec backed out. Kevin O’Leary followed, even though he was impressed by the product.
Guest shark Chris Sacca echoed the same concerns. Unlike the others, Chris offered $400,000 for 5% equity. Lori Greiner told Gauri to try and negotiate with her. Gauri suggested that Lori join Chris’s offer. However, before she could reply, Chris offered Gauri $600,000 for 5% with Greiner joining him if she liked.
Gauri immediately accepted the offer and left with two new partners. Now for a Toymail Talkie update.
Unfortunately, despite securing a deal with Chris and Lori, Toymail did not succeed. After appearing on
At the time of our Toymail update, the company is still out of business. It stopped updating its social media pages in early 2019 and the website is no longer live.
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