On Shark Tank, Tanoshi was national and captured national attention — The company’s mission is to make educational technology accessible for children. It landed a $500,000 deal with Daymond John and saw its annual revenues soar past $4 million.
| Category | Details |
|---|---|
| Founders | Brad Johnston, Lisa Love, and Greg Smith |
| Product | Tanoshi 2-in-1 Kids Computer, designed for children aged 6-12 |
| Shark Tank Deal | Secured investment from Daymond John |
| Estimated Net Worth | Several million dollars (exact figures not disclosed) |
| Revenue Sources | Sales of educational laptops and accessories; partnerships with institutions |
| Impact of Shark Tank | Increased brand awareness, sales, and access to mentorship/resources |
| Challenges Faced | Scaling production, managing supply chain issues, competing in tech market |
What is Tanoshi?
Tanoshi is not just a tech company; it is a brand with a mission — to democratize education through fun, affordable technology for kids.
Background of the Company
Founded in 2016 by a power trio—Brad Johnston, Lisa Love, and Greg Smith—Tanoshi. Founders saw a big opportunity in the market — there were NO computers suitable for kids in grades 1-6 at a price point parents could afford. Their devices often aimed to help empower children with contacts that would set them up for success in the hyper digital world by catering their devices specifically to the learning process.
The company’s name, Tanoshi, comes from the Japanese word for fun, reflecting its goal of making learning a joy for kids.
Mission and Vision
At Tanoshi, our vision focuses on equity in education. The company believes every child, whatever his or her background, deserves access to quality learning tools. In order to do this, Tanoshi makes sure to:
- STEM education: Tanoshi helps children get ready for the future by incorporating coding and other STEM-related activities in their products.
- Access: They make low-cost computers available so even low-income families can supply their children with basic technology.
Tanoshi’s Shark Tank Journey
Tanoshi’s appearance on Shark Tank was a pivotal moment in the company’s history. Here’s a look back at their path on the show.
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The Pitch
Enter Tanoshi — In Season 11 of Shark Tank, the founders of Tanoshi entered the Shark tank stage with a clear mission: Gain investment to grow their investment. He was seeking $500,000 for 8% equity in the company. Their pitch highlighted:
- Social mission: Closing the education gap using affordable tech.
- Their flagship product is a children’s 2-in-1 computer with unique features.
- The increased need for educational technology, especially among underprivileged communities.
This presentation both moves and impresses the sharks.
Daymond John’s Investment
An expert in branding and licensing, Daymond John recognized the potential in Tanoshi’s mission. He struck the deal for $500,000 for a 20% equity in the company… provided that he could sign a licensing agreement.
But end up they did, and Daymond’s recent investment wasn’t just financial — it was indicative of the powerful role of introducing kids to accessible technology at an early age. His participation included not just capital but wisdom as well in Tanoshi’s path.
The Impact of the $500K Deal
The $500K deal with Daymond John changed everything for Tanoshi. It enabled the company to scale operations, new product development, and market presence.
Financial Growth
The investment also allowed Tanoshi to increase production and service more customers. Such growth enabled the company to generate over $4 million a year in revenue, an impressive feat for a startup in the highly competitive tech market.
Product Development
With added resources, the company launched newer and better models such as the Tanoshi Scholar. These included advanced learning tools, such as preloaded apps for coding, typing game and problem-solving. With data on their user experience only until October 2023, the company geared towards improving their offerings to stay ahead of the game.
Market Expansion
When pandemic conditions led to widespread school closures last year, the demand for educational technology soared. Tanoshi seized the moment by expanding its reach and addressing the urgent demand from families for affordable educational resources. Their devices were a solution that parents turned to when trying to support their children’s education at home.
Security and Safety Features of Tanoshi Products
Tanoshi’s products are built for children, but also for (and in) parents, an innovative but practical balance. Join us for what makes their devices so special.
Tanoshi’s Flagship Product
The Tanoshi 2-in-1 Kids Computer is the company’s flagship product. It’s a two-in-one system with a detachable keyboard, which makes esay for kids to go back and forth between tablet mode and laptop. This flexibility makes sure that children can use the device for educational purposes as well as for fun.
Educational Focus
Tanoshi’s computers include preloaded educational apps covering topics such as:
- Interactive typing: Interactive programs to introduce children to the typing world.
- Coding: Fun coding apps to inspire interested programmers.
- Spelling and Math: interactive apps designed to enhance basic skills.
These features align with the company’s mission to promote STEM education and make learning fun.
Parental Controls
The standout aspect of Tanoshi’s devices is its parental control tools. These allow parents to:
- Screen time needs to be balanced with other activities.
- Limit usage to encourage productivity.
- Saludos, we provide filter content to keep kids safe on the web.
Daymond John’s Role in Tanoshi’s Success
Having Daymond John involved has been a big help for Tanoshi. He offered not just capital, but strategic value.
Strategic Guidance
Daymond, as the CEO at The Shark Group, has a wealth of experience with branding and licensing. He gave Tanoshi valuable insights on:
- Framing the brand as a pioneer in the field of low-cost edtech.
- Partnerships to enhance product distribution and visibility
Endorsement Value
Tanoshi Earning Daymond’s Credibility His support helped land new customers and investors, and enabled the company tocarve out a niche amidst the competition in the EdTechspace.
Challenges Faced by Tanoshi
Although it has been successful, Tanoshi has also encountered its own challenges.
Made in the EU with Thin Margins in the Electronics Industry
The tech industry is known for thin profit margins, and Tanoshi was no different. It was tough to compete against giants like Apple and Samsung.
Product Line Getting Discontinued
As of July 2024: Tanoshi announced it would discontinue its product line. The details haven’t been made public, but it underscores the challenges small businesses are facing in running stores in a marketplace.
Future Prospects for Tanoshi
The opportunities for growth and continuation of Tanoshi’s mission are many.
Innovations in EdTech
New product lines based on emerging trends in STEM education could be a potential area of growth for the company. For example:
- (various other devices for robotics and AI learning)
- Expanded tools of remote collaboration between students.
Expanding Global Reach
This gives Tanoshi immense potential to go internationally. If this company simply targets underserved markets in developing countries, it could have a powerful impact on global education.
Key Takeaways From Tanoshi’s Shark Tank Journey
Tanoshi’s story has important lessons for entrepreneurs and businesses.
A Social Mission Could Be The Key To Business Success
Investors like Daymond John were drawn to Tanoshi’s commitment to educational equity. That would demonstrate that a strong social mission can be a powerful differentiator when it comes to attracting support.
Flourishing Finances after Receiving Investments
The company’s operations scale and the further launch of their new products after investment shows world how strategic planning and supply allocation is important.
Conclusion
Tanoshi’s growth from startup to $4mm annually in sales is a story of innovation, determination and the importance of social mission. An investment on Shark Tank is just the start of the success a product may find, as it provides both financial backing along the confidence to explore further opportunities.
In the face of adversity and the pursuit of untapped territories, Tanoshi’s narrative is one that lives on, inspiring entrepreneurs with a passion for progress. Tanoshi not only shows that purpose-driven businesses can be wildly successful if there’s interest in the products, but also gives everyone something to root for on their journey.
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