BitsBox Shark Tank Net Worth 2023
Bitsbox, a coding for kids company, achieved $1.3 million in revenue by the time it appeared on Shark Tank.
As of July 2020, the company surpassed $11 million in total sales and by January 2023, they were doing $1.5 million in annual revenue. The founders of Bitsbox have a net worth of $15 million as of 2022.
What is BitsBox? Who is the Founder of BitsBox?
BitsBox is a monthly subscription box that aims to teach coding basics to children aged 6-12 through hands-on activities. The company provides step-by-step instructions that enable kids to build models, games, and animations on their own.
The founders of BitsBox are Scott Lininger and Aidan Chopra, former Google employees who came up with a prototype to keep their daughter interested in computing. They decided to quit their jobs and focus on the company full-time.
BitsBox teaches children to code by sending them tasks that require them to write and build apps that can run on smartphones and tablets.
Each project comes with a unique sticker or name card that can be used as part of the final product or shared on social media. BitsBox was launched in late 2014 after a successful Kickstarter campaign that raised $253,696.
The company has over 800,000 users worldwide and offers three membership options, including a digital option for $19.99 per month, a basic service for $25 per month, and a deluxe version for $45 per month that includes extra items such as toys, trading cards, tattoos, stickers, and more. BitsBox is also developing classroom packages for schools.
BitsBox on Shark Tank Pitch?
Scott and Aiden, the founders of BitsBox, pitched their company idea to investors on Shark Tank after a successful Kickstarter campaign. They asked for $250,000 for a 3% stake in the company valued at $8.33 million. During the pitch, they showcased a video game created by Scott’s daughter Grace using the software.
After discussing the pricing and sales figures, Kevin got angry at the valuation and left the deal, followed by Lori. Robert did not want to be part of it, and Mark believed they needed additional funding. Chris offered $250,000 for a 20% ownership of the company, but after some negotiations, he withdrew from the deal.
Despite not securing a deal on Shark Tank, Scott, and Aiden ended up getting funding from other investors at the valuation they requested.
Following their appearance on the show, their business tripled in a month, and they expanded their team, office space, and video studio. Today, BitsBox is one of the leading coding education companies for kids, with total revenues exceeding $11 million as of July 2020.
Competitors of BitsBox
In the market, the firm has many of the competitors as follows: KLUTCHclub,
PupBox, Faithbox, Little Passports, Mystery Tackle Box, Beauty Box 5, Japan Crate and JustReachOut.
Net Worth of BitsBox
During the pitch the company valuation was $8.33 million and they have makes a lot of sales through subscriptions and acquired more investors, therefore the valuation of the company in 2021 have risen.
BitsBox FAQs
What is BitsBox?
BitsBox is a coding subscription box for kids. Kids are given a series of coding tasks that they need to complete each month, which teach them about the ins and outs of coding.
Coded tasks include word searches, puzzles, animations, math problems, and programming challenges.
Who is the founder?
Scott Lininger and Aidan Chopra founded BitsBox. Scott was designing a prototype for his daughter that would attract her attention and keep her interested in computing.
What is their offer on Shark Tank?
They were asking for $250,000 for a 3% stake in the company valued at $8.33 million.
Did they get an offer?
No, they did not get an offer.
What is Bitsbox worth today?
Bitsbox’s net worth in 2020 has surpassed $1 million.
Is BitsBox still in business?
Bitsbox’s business has been doing nicely. Bitsbox subscription services are now available in three flavors: digital, basic, and premium.
Each membership option has its own set of features, and kids may access the plan from any computer using a web browser.
How successful is Bitsbox?
Three more staff was hired, the office space was increased, and a video studio was established.
Bits Box is currently one of the leading coding education firms in the world. By July 2020, the company’s total sales will have surpassed $11 million.
Is Bitsbox safe?
Bitsbox has been safe for a few years now, and they have been reliable.
What coding language is Bitsbox?
Bitsbox teaches children how to write genuine, text-based computer code in order to create simple apps.
They use JavaScript as their scripting language, with the addition of a few dozen additional commands (words, essentially) that make it simpler for newcomers to construct exciting stuff rapidly.
What is the difference between BitsBox and other competitors?
BitsBox is a subscription box service that teaches children to code using a series of app projects.
What is the future of BitsBox?
Following their appearance on Shark Tank, they tripled their business in a month and were able to hire three additional staff members and quadruple their office floor space.
How was BitsBox developed?
The founders developed the service after noticing how little children understood about programming concepts.
How does BitsBox work?
Every month, the youngster receives a series of codes to create apps on smartphones and tablets. Kids enter the code into the BitsBox webpage and then play with the software right away.
How many Bitsbox sets are there?
Give Bitsbox twenty-four levels all at once.
150 plus exciting app coding assignments are crammed within a single large package.
What is a list in Bitsbox?
An array is a collection of values. An array is created whenever a user needs to keep a list of items that they may refer to in their code.
Each value in an array is referred to as an element. Each element is assigned an index number.
What is the net worth of Scott Lininger?
Scott Lininger has a net worth of $1.4 million.
What is the net worth of Aidan Chopra?
Aiden Chopra has a net worth of $1.3 million.
