Codi Shark Tank Update – Shark Tank Season 11
Codi robot aims to educate and entertain children with AI. See what they brought to Shark Tank.
Highlights
- William Mock, Dayu Yang, and Chris Oslebo pitched Codi, an educational robot, on Shark Tank Season 12.
- They addressed the need for innovative, AI-driven educational content for children.
- They came on Shark Tank for help with marketing and distribution.
About Codi
| Category | Details |
| Founder (Plural if multiple) | William Mock, Dayu Yang, Chris Oslebo |
| Product Type | AI-driven educational robot |
| Funding (Pre-Shark Tank) | Self-funded |
| Investment Asked | $500,000 |
| Equity Offered | 10% |
William Mock, Dayu Yang, and Chris Oslebo appeared on Shark Tank Season 12. They were seeking an investor for Codi, their storytelling, educational robot. Codi was the flagship product of their company, Pillar Learning. Pillar was co-founded by Yang and Oslebo in December of 2017.
They both had strong backgrounds in product development, manufacturing, and e-commerce. Mock, a former kindergarten teacher with a Master’s in Education, joined the firm in March 2018.
The three shared their story and explained that their mission for current and aspiring parents is “to leverage innovative technology and educational research to meet the developmental needs of every child.”
The team likely wanted a Shark’s help with marketing and distribution. The question is, would a Shark want to play with this toy?
Codi Pitch
William, Dayu, and Chris entered the Shark Tank seeking $500,000 for 10% equity in their business. They told their product’s story and gave their pitch. They explained how effectively their robot helps kids learn new things.
Then, they handed some adorable samples of Codi to the Sharks. The Sharks seemed to find the toys very interesting. Lori received the cutest one!
The toys cost $25.76 to make and retail for $149.99. In the past year, they had $260,000 in sales with a gross profit margin of 10%. Plans for the future include a paid version of the Codi app.
Codi uses artificial intelligence and voice-enabled learning algorithms to deliver appropriate, individualized content for children. In lay terms, he sings songs, tells stories, and engages kids in simple activities like cleaning their room or brushing their teeth.
The content that’s delivered is based on both their interests and their parents’ wishes.
Read more posts about Codi by Pillar Learning on the Shark Tank Blog.
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What Makes Codi Unique?
The product is designed by a technologist, a toy maker, and an educator. Combining all of their skills, they launched Codi.
The robot is a cute, 8.5-inch-tall guy with big eyes, a light-up antenna, and ears that change colors. He comes with plush “pajamas” kids can dress him up in. Parents maintain control with a mobile app that interacts with their computer chip.
It is built on modern home technology. Codi is a smart storytelling robot. Its aim is to replace screens in your child’s daily routine. Since social robots can be more engaging for children, Codi is the perfect choice.
A new robot will cost you $125, and outfits are ten bucks each.
Did Codi Get a Deal on Shark Tank?
In the beginning, all sharks refused to make any deals for different reasons. However, the entrepreneurs succeeded in convincing one shark at the end. This is what happened:
- Lori thought it was a competitive market and decided not to invest.
- Robert Herjavec thought the guys were good project managers but believed kids would get bored with it. Therefore, he passed it.
- Barbara Corcoran didn’t think it would be profitable and chose not to invest.
- Mark Cuban didn’t think they could scale and also passed.
- Kevin said Google and Amazon had similar products in development and declined as well.
All the Sharks had passed, but the guys kept selling. They said they were projecting $16 million next year. Their manufacturer, who was an investor in the company, was giving them a deal on direct import purchase orders from retailers.
They wanted a Shark to help obtain retailers. As they were about to leave the Tank, Robert decided to come back in. He offered $500,000 for 25%, and they accepted.
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What Happened to Codi After Shark Tank?
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. The deal with Robert never closed. In January, 2021, the robot was named as one of Healthline Parents Best of 2021. As of October, 2023, the company is still in business with annual revenue of $1.2 million.
Where Can You Buy It?
Right now, finding a brand-new Codi might be tricky. The main website where they sell it, Pillar Learning, says it’s out of stock. You can also try looking on websites like Amazon and eBay to see if anyone has one for sale. So, the best places to check for Codi would be those online stores.
You can check out their social media platforms to know the updates on their product’s availability.
Quick Summary
- Codi, an AI-driven educational robot appeared on Shark Tank Season 11.
- The product is created by William Mock, Dayu Yang, and Chris Oslebo.
- Initially, all the Sharks went out, but Robert Herjavec returned to offer $500,000 for 25% equity. They finally secured the deal.
FAQs
1. How is Codi doing from Shark Tank?
The creators of Codi got a deal on the Shark Tank TV show (in episode 1125). It sold out super fast in the first week. Lots of kids and parents in the U.S. have bought it since then. Kids and parents really like learning with Codi.
2. Who invested in Codi Shark Tank?
Shark Robert Herjavec invested in the business.
3. What is Codi net worth?
The company’s net worth is estimated to be around $2.5 million.
4. Is Codi still around?
Yes, the company is still in business.
See what else is new! View other businesses featured in this episode.
