What Happened to Roominate? From Shark Tank to Success!
Roominate, a unique children’s construction kit, shot to fame after appearing on Season 6 of the popular television show “Shark Tank.”
Roominate, designed by the creative combination of Alice Brooks and Bettina Chen, was more than simply a toy; it aspired to inspire young girls aged six to ten to explore the realms of creativity and technology.
Following their Shark Tank experience, Roominate’s journey took a new and exciting turn, with the product’s expansion, recognition, and influence growing.
Here’s what happened to Roominate and how it became a sign of new ideas, learning, and giving young people power.
Did Roominate Strike a Deal on Shark Tank?
Two engineers appeared on the television and introduced their product to the investors calmly. They wanted $500,000 in exchange for 5% ownership of their company.
Their product was a unique building kit for ladies above the age of six. It included an electric circuit that could power the inventions and operate merry-go-rounds, elevators, and fans.
The Sharks were shown Roominate models created by children. The inventors demonstrated how to utilize the product and discussed their estimated sales of $5 million over the next three years. They also stated that their products would be available in places such as Toys “R” Us and Walmart.
Some investors chose against investing. Kevin was hesitate to invest because the sales were uncertain. Barbara believed that the product did not place enough emphasis on its clients.
However, Mark made the identical offer that the couple had requested, and Lori accepted it. Finally, both the sharks and the owners agreed to the deal.
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What Happened to Roominate after Shark Tank?
Roominate achieved considerable growth following their appearance on Shark Tank in episode 6. They began selling their goods at Toys “R” Us and Walmart.
Toys “R” Us had their items at all 596 stores, and Walmart used demonstration days to offer Roominate to young inventors, resulting in higher sales in 800 stores.
Roominate has already expanded its product line and begun selling at big retailers such as Target and Amazon. In addition, the company garnered prizes and was featured in popular periodicals.
The two creators expanded their headquarters in Wisconsin and currently employ 8 to 10 people. Let’s see how their product line has progressed since their appearance on Shark Tank.
The Old Roominate Product
Roominate used to be a kit with wires and electricity that let kids be creative and build all sorts of models. While playing, kids learned practical stuff, got better at using their hands, felt good about themselves, and figured out how electrical circuits work.
The New and Improved Version
Now, they’ve taken those electrical circuits and combined them with apps and technology. With the free Roominate App, you can control lights and motors with your phone or tablet. It’s pretty cool!
Roominate Net worth and Revenue
In 2012, the company was worth $6 million, but today, it’s worth $10 million. They made $5 million in revenue in 2021.
Frequently Asked Questions
Is Roominate profitable?
Absolutely, the company is making money and winning awards. The co-founder, Alice Brooks, is a well-known figure at various conferences and events. Their product is all about teaching and empowering kids.
Is Roominate still in business?
Yes, they are just getting started. The two engineering graduates have a lot more to do, and they’re not stopping anytime soon.