Sparketh Shark Tank Update – Shark Tank Season 13
Dwayne Walker and Tim Samuel paint a bright future for Sparketh on Shark Tank Season 13 with their online art courses. They secured a deal with two of the Sharks.
Dwayne Walker and Tim Samuel hoped to paint a pretty picture for Sparketh, their online art courses, in Shark Tank Season 13 Episode 3.
More information on Shark Tank Season 13 Episodes.
About Sparketh
| Category | Details |
|---|---|
| Business Name | Sparketh |
| Founders | Dwayne Walker, Tim Samuel |
| Industry | Online Education, Art |
| Product | Online art and baking courses for kids and teens |
| Deal Status | Deal Secured with Barbara Corcoran and Daniel Lubetzky (contingent on profitability) |
| Investment Asked | $100,000 for 8% equity |
| Deal Outcome | $100,000 for 20% equity |
| Valuation | $1.25 million (at the time of Shark Tank pitch) |
Dwayne was a talented and passionate artist as a child. Even though he won international art contests, he always felt he could have been even better with proper professional instruction. That was the inspiration to start the business.
Co-founder and friend Tim is a video editing whiz who helped forge the dream of what is now Sparketh.
It is essentially an online library and mentoring program that teaches art to kids and teens. They also have courses on baking. All you do is log in to your dashboard and choose an activity from art, baking, drawing, and painting.
Next, you choose your level, which ranges from advanced, beginner, and intermediate. There are many activities to choose from, with varied art mediums.
Whether you want to make a greeting card with colored pencils, a canvas acrylic painting, or just about anything else, there’s a project on their website for you.
The classes are taught by the company’s “mentors,” who also offer one-on-one mentorship for extremely passionate students.
Access to the courses is $25 per month or $250 per year, which does not include supplies. When you pay by the year, you can gift a year to a friend or family member. The company offers a 30-day free trial, too.
Many parents who homeschool use the service for at-home art classes. Others use it for something fun and creative to do for their kids. They offer custom pricing for schools and school districts as well.
The guys likely want a Shark’s help expanding the enterprise side of the business. Will a Shark craft a deal for Sparketh?
Sparketh Shark Tank Recap
Dwayne and Tim entered the Shark Tank seeking $100,000 for 8% of the company. They explained the business while talking about the importance of fostering creativity in kids.
To demonstrate their artistry, they invited the Sharks to paint a feather with a toothbrush. The Sharks did their best with varying degrees of success.
Initially, they made sales by going to homeschooling expos. Tim explained his drive came from his sickle cell disease. Life expectancy was 30 years old, and his life could get cut short (he was 25), so he was going for it as an entrepreneur.
2018 sales were $100,000, 2019 sales were $75,000, 2020 sales were $300,000, and they were on track to do $500,000 for 2021.
It cost them $51.50 to acquire a customer, and the lifetime customer value was $160. They wanted the $100,000 for a better platform and marketing.
What Makes Sparketh Unique?
Sparketh provides a platform for arts and crafts online and via an app, when the market was saturated with Edtech startups, which more often than not left the arts behind.
Did Sparketh Get a Deal on Shark Tank?
The Sharks weren’t too happy when Tim and Dwayne said they were breaking even, but “could be profitable if we wanted to.”
Lori liked the idea, but she wasn’t an “app person,” so she was out. Kevin didn’t know how he’d get his money back, so he was out. Mark said they needed to differentiate themselves from YouTube videos, so he was out.
Barbara offered $100,000 for 20%, contingent on them turning a profit in six months.
Daniel admired their hard work, but not the lack of profitability. Despite that, he offered to go in with Barbara and said he’d mentor them. The artsy entrepreneurial duo ended up taking the deal.
Sparketh Shark Tank Update
In the immediate aftermath of the show, both Barbara and Daniel were tweeting about the deal, although the brand failed to gain a Shark Tank effect-based traction.
It was reported that by April 2023, they were doing around $2 million in annual revenue. No major updates have been tracked since then, and the company seems to be afloat and doing fairly well.
As of 2024, the estimated net worth of Sparketh is around $0.6 million, though it’s not publicly disclosed.
Posts about Sparketh on Shark Tank Blog
More on Sparketh and its online art classes from Shark Tank Blog.
Where Can You Buy It?
Sparketh has an official website which offers its various services at a subscription. Other than that, it does have social media handles on Facebook and Twitter (X), but they are not up to date.
Quick Summary
- Dwayne Walker and Tim Samuel pitched Sparketh on Shark Tank, seeking $100,000 for 8% equity.
- Sparketh offers online art and baking courses for kids and teens, with a focus on creativity and personalized mentorship.
- They secured a deal with Barbara Corcoran and Daniel Lubetzky for $100,000 for 20% equity, contingent on profitability within six months.
Sparketh made it out of the Tank, but what about other products on the show? Here are more business updates.
