Is Trobo From Shark Tank Still In Business?
TROBO, the storytelling STEM plush toy robot featured on Shark Tank, is no longer in business. The company officially shut down in 2017 after being unable to secure a content delivery deal.
TROBO is a storytelling STEM plush toy robot created by Jeremy Scheinberg and Chris Harden, aimed at educating children about STEM subjects through interactive storytelling on an iPad app.
The toy robot, which interacts wirelessly with a tablet or iPad, tells personalized stories to engage children in learning about science, technology, engineering, and mathematics.
TROBO was presented on Shark Tank seeking an investment of $100,000 for 10% equity, but Robert Herjavec made a deal for $166,000 in exchange for a 33% stake, contingent upon signing a licensing deal with Dreamworks.
Despite initial success and a deal with Robert Herjavec on Shark Tank, the partnership did not progress beyond the due diligence stage, leading to the eventual closure of the business.
The exact reasons for the deal falling through were not disclosed, but the company ceased production in 2017.
TROBO STEM Toy Update | Shark Tank Season 7
| CATEGORY | DETAILS |
| Entrepreneurs | Chris Harden and Jeremy Scheinberg |
| Business | STEM toy for children |
| Ask | $100,000 for 10% equity |
| Result | $166,000 for 33.3% equity |
| Shark | Robert Herjavec |
| Product | TROBO – Plush robot that teaches kids about STEM through storytelling and accompanying app |
| Retail Price | $59.95 (includes toy and 5 book collection) |
| Pre-Shark Tank | Successful Kickstarter campaign, 600 orders from small/mid-sized retailers |
| Shark Tank Deal | Robert Herjavec offered $166,000 for 33.3% equity, contingent on Dreamworks licensing deal |
| Post-Shark Tank | Deal with Robert never closed, possibly due to lack of Dreamworks interest and legal demands |
| Outcome | Price decreased over time, company shut down in 2017 after failing to secure content delivery deal |
| Initial Retail Price | $59.95 (toy + 5 book collection) |
| Pre-Shark Tank Traction | Successful Kickstarter; 600 orders from small/mid retailers |
| Post-Shark Tank | Deal with Robert never closed, likely due to no Dreamworks deal |
| Price Change | Price decreased over time |
| Company Status | Officially shut down in 2017 after failing to secure content delivery deal |
What Is Trobo And How Does It Work
TROBO is a storytelling STEM plush toy robot designed to educate children about science, technology, engineering, and mathematics (STEM) in an engaging and interactive way.
The toy robot works alongside an iPad app to deliver stories, games, and quizzes that tap into children’s natural curiosity about the world around them.
TROBO was created by Jeremy Scheinberg and Chris Harden, who aimed to provide a more engaging educational experience for children through technology and engineering.
TROBO operates by connecting wirelessly to a tablet or iPad, where it reads aloud STEM-focused stories and games presented on the screen. Children interact with the content on the device while having the plush robot companion by their side.
The toy covers a wide range of topics, including physics, chemistry, biology, 3D printing, the Internet, rockets, engineering, mechanics, and math. TROBO’s voice guides children through the educational content, making learning fun and memorable.
One unique feature of TROBO is its personalization aspect. Children can input their names into the program, allowing the robot to address them directly during the storytelling sessions.
Again, users can create customizable avatars to appear on the screen, enhancing the interactive experience.
TROBO comes in different versions, such as a boy and girl named Edison and Curie, with different color schemes to cater to various preferences.
TROBO received positive feedback from educators, technology press, and parents, showcasing its potential in the educational toy market.
The deal made between TROBO and Robert Herjavec on Shark Tank was for $166,000 in exchange for a 33.3% equity stake in the company. This deal was contingent upon signing a licensing deal with Dreamworks.
Despite the initial agreement in the Tank, the deal did not come to fruition, and the company eventually went out of business in 2017
Shark Tank TROBO Update 2024
TROBO plush robot, a STEM educational toy designed by Jeremy Scheinberg and Chris Harden, appeared on Shark Tank during Season 7.
The entrepreneurs sought $100,000 for a 10% equity stake in their company.
They made a deal with Robert Herjavec for $166,000 in exchange for a 33.3% equity share, contingent upon signing a licensing deal with Dreamworks.
Despite the initial agreement on the show, the partnership with Robert Herjavec did not progress beyond the due diligence stage, and the company eventually went out of business in 2017.
The exact reasons for the deal falling through were not disclosed, but the TROBO creators continued to grow the business for a while, experiencing a surge in sales after the Shark Tank appearance and gaining positive reviews from customers and media outlets like USA Today, Forbes, and TechCrunch
Despite the initial deal on the show, the partnership with Robert Herjavec did not materialize, and the company eventually went out of business in 2017.
