BitsBox Shark Tank Update| BitsBox after Shark Tank
What is BitsBox?
BitsBox is a monthly subscription box for kids 6-12 that teaches coding basics through hands-on activities. BitsBox provides step-by-step instructions so kids can build models, games, and animations all by themselves. BitsBox was founded by a team of coding geeks as a way to bring coding basics to kids.
Scott Lininger and Aidan Chopra, the two Bitsbox founders and former Google workers, were working on a prototype for their daughter that would captivate her attention and keep her interested in computing.
Bitsbox, a coding subscription box for kids, sprang from that prototype. The two agreed to give up their employment and devote their whole attention to the firm.
BitsBox is a service that tries to educate children to code by sending those tasks that need them to write and then construct apps that can run on smartphones and tablets.
BitsBox prints out prints out the step-by-step guide for each element of a project and then lets kids build it right away.
The printing guide is scaled so that it’s clear enough for a kid to follow along without a parent’s help.
Each project comes with a unique sticker or name card, which can be used as part of the final product or shareable on social media.
Who is the Founder of BitsBox?
Former Google workers 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.
Bitsbox, a coding subscription box for kids, grew out of that prototype. The two agreed to quit their employment and devote their whole attention to the firm.
They launched their company in late 2014 after a successful Kickstarter campaign garnered $253,696.
BitsBox is a service that teaches children to code by using a series of applications and app projects. They have over 800,000 users all across the world.
Every month, a youngster is assigned a series of app projects. The coding tasks vary in difficulty and cover a variety of subjects and languages.
Essentially, the children modify the code to make the app their own. Kids enter the code into the BitsBox webpage and then play with the software right away.
Each month, the learning modules change and educate via repetition.
There are three membership choices, including a digital option for $19.99 per month and a basic service for $25 per month.
Additionally it consists of a binder and projects listed on glossy cards, and a deluxe version for $45 per month that includes extra tchotchkes such as toys, trading cards, tattoos, stickers, and more.
They are also working on classroom packages for schools.
What Happened to BitsBox on Shark Tank Pitch?
After a successful Kickstarter campaign, Scott and Aiden decided to submit their company idea to Shark Tank investors in order to form a partnership.
Scott and Aiden join the market asking $250,000 for a 3% stake in the company valued at $8.33 million.
Scott has a young girl named Grace who he is using to show Grace Shows off a video game she created using the software.
Chris Sacca asks her whether she’s ever coded before she tells the Sharks she wants to be a bionic limb developer, and the Sharks go right to work.
Scott discusses the pricing and many alternatives available. Each box costs roughly $10 to create and is aimed at children aged 6 to 12. Over the course of two years, their sales had totaled $1.3 million.
Scott and Aiden have already raised $550,000 at a valuation of $4 million.
The valuation they brought to the pitch angered Kevin, but Scott supports it. Immediately Lori declares her intention to withdraw from the deal.
Kevin then exits the deal, stating that he wants to watch Chris and Mark contest for this firm.
Robert is aware of the space, but he does not want to be a part of it; he is also out. Mark loves what they’re doing, but he believes they’ll need additional funding, so he’s out of the firm as well.
Chris was the last Shark left on the pitch, and he offered $250,000 for 20% ownership of the firm, valued at $5 million.
Aiden goes on to clarify that they have other investors and that they must work with them. Chris points out that the other investors are not Sharks.
Chris points out that the other investors are not Sharks. After some back-and-forth negotiations with Chris, he becomes offended and withdraws from the deal. Finally the two Friends exited the pitch without the deal.
What Happened to BitsBox after Shark Tank?
After Scott and Aiden left the pitch without a deal, they both ended up getting money from different investors at the valuation they requested.
Following their appearance on Shark Tank, they tripled their business in a month.
The firm hired three more staff, quadrupled its office space, and established a video studio. Bits Box is currently one of the leading coding for kids’ education companies.
The company’s total revenues surpassed $11 million in 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.
