Tuesday, July 9, 2024

Tanoshi 2024 Update – What Happened After Shark Tank

Tanoshi Before Shark Tank

It’s no secret that technology has become a big part of every child’s learning journey. Not only can it help them connect and understand lessons in many amazing ways, but they also are able to adapt to an online-learning method quicker. These days, homework and test-taking using platforms such as Google Sheets, Powerpoint, Google Docs, etc. has become much more normalized. With that, having the opportunity to become comfortable with computer skills at a younger age is a great way for them to excel throughout their school years.
Whether they’re using computers for notes, schedules, homework, or tests, it’s quite necessary that each child gets to take part in the hands-on experience of technology. However, children from lower-income families cannot always afford the luxury of purchasing a computer for their child, especially if there are multiple children in the household. Fortunately, the founders of the Tanoshi 2-in-1 computer understood that and decided to create a more innovative, yet affordable computer for all children.
The Tanoshi Computer was founded in 2018 by an entrepreneur trio; Brad Johnston, Greg Smith, and Lisa Love. Lisa Love and Brad Johnston were the initial entrepreneurs to kick off this company after they met at a pitch contest. Lisa mentioned that, when she met Brad, he introduced her to his educational computer for children. From there, Lisa and Brad became a duo and soon after launched the Tanoshi 2-in-1 computer. Their mission? To provide the chance for each and every child to move forward into a bright, successful future.
So what IS the Tanoshi 2-in-1? The obvious answer would be to say it’s just another kind of computer; however, it’s actually much more than that. The Tanoshi 2-in-1 computer is an affordable iPad-laptop combo with a detachable keyboard for kids. This computer can be used for many things including completing assignments and standardized tests. The Tanoshi computer operates on an Android system and comes pre-equipped with parental controls from Google. Along with that, each device has platforms such as Google Docs, coding apps, and Google Spreadsheets installed prior to the child receiving them. Tanoshi Picture 1
Speaking of parental controls, these Tanoshi computers have a built-in tracking device so that parents can track how much time is being spent on the computer, as well as what the child is doing on it. With this, the creators of Tanoshi hope that this device is accessible enough for any child that may need one. With, of course, the parents comfort of knowing what their children are viewing each time.
After the official launch of the Tanoshi 2-in-1 computer, the company has hired many employees who are highly experienced in technology. In addition to that, the company has gotten around $300,000 in venture capital following the launch; however, Johnston, Love, and Smith would like to have a Shark as an investor as well. But can the trio receive an investment from one of the sharks of Shark Tank? Let’s find out.

Tanoshi on Shark Tank

Brad Johnston, Lisa Love, and Greg Smith enter the Shark Tank seeking an offer of $500,000 for an 8% equity in Tanoshi. During their pitch, the trio tells the sharks about their computers and how great they are for children, adding in that they strive to make them accessible to all children. Continuing to talk about the computers, the entrepreneurs explain how each device comes equipped with parental controls and a tracker that allows parents to control the child’s activity through an app on their phone. This is great for, both, keeping an eye on what kind of content the children are consuming, as well as how much they’re using the device.
Following their pitch, the trio begins to talk numbers. They explain to the sharks that, within the first year and a half after the launch, they had reached $720,000 in sales. This is where the help of a shark comes in to play; an investment from a shark would greatly help the Tanoshi business expand and upgrade further. At this point, some of the sharks appear to be concerned about margin numbers, as well as what competitions may arise given that the trio is operating within the technology field. Tanoshi Picture 3
Mark Cuban speaks up first, explaining that he was dropping out due to the technology field being too competitive and their prices need to be thought through again. Following Mark, Kevin O’Leary then drops out because he believes the trio will need too much assistance with their business. Unfortunately, the drop-outs continue when guest shark, Anne Wojcicki, and Lori Greiner drop out as well. Anne Wojcicki voices that she thinks it would be quite difficult to get these computers to the children; however, she does love the concept. And last but not least, Lori Greiner drops out due to the possibility of future competition as well.
With the immediate drop-outs from the other sharks, this wasn’t looking too good for the entrepreneurs. Nonetheless, Daymond John was the last remaining shark to give them their hope back. Daymond states that he likes the idea; however, he also adds in that he foresees licensing for the business. With that, he offers the trio the $500,000 for a 20% equity in Tanoshi. To this, the trio attempts to counter-offer Daymond a 15% equity. Daymond rejects their counter and they decide to accept his offer of $500,000 for the 20% equity in the business.

Tanoshi Now in 2024 – The After Shark Tank Update

Tanoshi computers were introduced on Shark Tank and received an offer from Daymond John for $500,000 and a 20% equity in the company. Following this appearance, it is unclear where the partnership between Daymond and Tanoshi lies as of 2024 given that he has yet to announce it on his website. However, the creators of Tanoshi did address this in a press release shortly after the Shark Tank episode aired. During this press release, the company shared a snippet of something that Daymond had said.

Tanoshi Picture 6

Since their appearance on Shark Tank, Tanoshi has been successfully expanding greatly. In fact, when the pandemic hit, the company saw a huge spike in sales due to more parents purchasing them when they started switching to home schooling their children. In November 2020, the trio introduced their newest upgrade, the Tanoshi Scholar. This new upgrade is currently priced at $299 and can be found on Amazon, their website, Adorama, and Walmart. The Tanoshi Scholar consists of a wide variety of instructional content, as well as the ability to work on Zoom, and Google Meet. Not to mention it’s more durable as well.
Earlier this year, Brad Johnston announced to Freethink that he has received a good amount of offers from companies that would like to buy out their business. He continued to mention that he was not interested in any of the offers because there was no guarantee that they would keep up with the businesses overall mission of providing accessible, affordable computers. With that, Tanoshi does have a current ongoing competition with Chromebooks. Additionally, Tanoshi brand reached $82,866 in sales as of a few months ago and has been said to have an annual revenue of $4 million; however, those numbers continue to increase. With that being said, Tanoshi computers appear to be quite successful as their business continues to expand.
Melissa Buechler
Melissa Buechler
Graduated from Washington Virtual Academies and have been a freelance writer for about 2 years now. In my spare time, I enjoy spending time with my pets, gaming, etc.
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