Pinblock Shark Tank Update | What Happened to the Pinblock after the Shark Tank?
What is Pinblock?
Pinblock is a versatile building toy that allows creative individuals to design and construct a wide range of toys with the flexibility of bendable blocks that come in various colors and styles.
It challenges and develops the designer’s imagination while being interactive.
Vladislav Smolyanskyy, an architect and product design engineer at Raindrop Media Management Inc. founded Pinblock in 2014.
He has also previously dedicated time to volunteer work with Euromaidan New York, an organization that brought together Ukrainian expats as events in Kiev were unfolding.
Who is the Founder of Pinblock?
Vladislav Smolyanskyy, founder and CEO of Pinblock, is a driven individual who is dedicated to inspiring and motivating young minds to shape the future.
He has a keen interest in business, particularly since his emigration from Ukraine to the United States.
Along with his childhood friend, he started Pinblock and overcame obstacles to successfully incorporate it in the state of New York, develop prototypes, secure funding for mass production and launch it in the market.
Additionally, He previously served as a volunteer in Euromaidan New York in 2014
What Happened to Pinblock at Shark Tank?
In 2014, Vladislav founded a company with a childhood friend. In 2015, he raised $18,573 through a Kickstarter campaign.
Vladislav appeared on Season 8, Episode 13 of Shark Tank to seek an investment of $100,000 for a 20% stake in the company, named Pinblock.
He owns 85% of the company and a former partner owns the remaining 15%.
He sold “starting packs” of Pinblock for $19.99 each, with a cost to produce of $3 each, and total sales of $160,000.
Kevin O’Leary offered $100,000 for 30% of the company, but Vladislav declined as it did not align with his vision of the company.
Eventually Kevin offered $100,000 for 50% of the company, which Vladislav accepted.
What Happened to the Pinblock after the Shark Tank?
The Pinblock firm received an investment of $100,000 from Kevin O’Leary for 50% of the company’s equity shares.
The company sells Pinblock toys in various color schemes, sold in bundles of 1000 pieces for approximately $40 per bundle, or in packs of 100 for roughly $4 per pack.
The founder, Vladislav, created the toy with the goal of making it both mentally stimulating and adaptable.
The company has been successful, with annual revenue increasing to $2 million in 2021.
Net Worth of Pinblock
The Pinblock has continued to expand their business; with total net income is $2 million up to 2021.
FAQs of Pinblock
What is Pinblock?
Pinblock is a building block toy that allows innovators to design any toy they want to create.
Who founded Pinblock?
Vladislav Smolyanskyy is founder and CEO of Pinblock, who has been developing the business since 2014. He also serves as lead developer as well as a member of the legal department.
What happened to Pinblock at Shark Tank?
Vladislav Smolyanskyy is seeking $100,000 in exchange for a 20% stake in the firm. He left with a 50/50 partnership with Kevin O’Leary
Did Pinblock get an offer?
Yes, Kevin O’Leary made the $100,000 investment as a valued part of his portfolio. Kevin O’Leary offered Vladislav Smolyanskyy a $100,000 offer for 50 percent.
Do they have any other objectives?
Pinblock aims to become a global brand.
To inspiring innovators around the world to pursue their own aspirations in the manufacturing industry.
Building a strong relationship with an investor that will become an executive board member.
What Happened to Pinblock after Shark Tank?
Pinblock is now sold in toy and department stores and online and has expanded its production and distribution.
What is the net worth of Pinblock?
Pinblock has continued to expand their business; with total net income is $2 million up to 2021.
When was Pinblock Founded?
It was founded in 2014.
Where is Pinblock headquarters?
It is in Greater New York
Did Pinblock have any investors?
Yes, Kevin O’ Leary is the investor of Pinblock.
Which episode and season did Pinblock appear on Shark Tank?
It appearance on Shark Tank Season 8 Episode 21 Pinblock Episode.
Is Pinblock successful?
Yes, Pinblock are available in a number of bundles featuring a range of color themes and cost around $40 for box of 1000 pieces. Individual colors cost around $4.00 in packs of 100.
Vladislav objective was to create a toy that pushed the boundaries of creativity while remaining adaptable. The firm has been rather successful thus far.
Where is Pinblock now?
Brooklyn New York.
Is Pinblock legit?
Yes it is legit.
What is the products range of Pinblock?
Pinblock holds patents on its toy technology.
How is the business model of Pinblock?
Pinblock is dedicated to making the world a better place through innovative toys.
It is committed to providing quality products that are environmentally friendly.
What are the competitors of Pinblock?
There are no known competitors, although there are companies developing similar technologies.
What is the revenue of Pinblock?
Their revenue has increased to $2 million in 2021.
Is Pinblock good or bad?
Pinblock is good because it makes the world a better place.
How many employees does Pinblock have?
There are no known numbers but there are currently 25 people employed by the firm.
What the products range of Pinblock?
Pinblock holds patents on its toy technology. It plans to release a number of new toys in the future, including a puzzle that’s compatible with smartphones and tablets aimed at children aged 3 to 5 years old.
How Pinblock do makes money?
They make money through the sale of their toy product.
How has the sale of Pinblock increased since Shark Tank?
The sales revenue of Pinblock has increased from $160,000 to $2 million in 2021.
What was the initial idea of Pinblock?
There were two childhood friends Vladislav Smolyanskyy and Vitalii Sharov, who had developed conception for building blocks before graduating from high school around 2011. The pair pitched the idea for an American investment competition but did not win.
Who owns Pinblock?
Vladislav Smolyanskyy is founder and CEO of Pinblock, who has been developing the business.
How much did the Kickstarter raise in 2015?
The Kickstarter raised $18,573 in 2015.
Who exactly is Vlad Smolyanskyy?
Vlad Smolyanskyy, a 21-year-old Ukrainian-born inventor of PinBlock, pitched his firm on Shark Tank in January 2017.
What is Vladislav’s background?
Vladislav was born in Ukraine but soon immigrated to New York in 2006. He is also interested in learning about business, especially since immigrating to the United States from Ukraine.
When was Pinblock founded?
Vladislav Smolyanskyy launched Pinblock in 2014.
How did Pinblock started?
Vladislav and his boyhood buddy ShiJun established Pinblock and built it up; eventually incorporating it into the state of New York, prototype manufacturing, funding for full production, and market launch.
Pinblock is a construction toy designed to allow creative individuals to create any toy they choose without the constraints of solid building blocks.
What is the company’s business philosophy?
He want something that incorporated learning with playing.
What happened on the Shark Tank?
Vlad identified himself to the Sharks as the founder and developer of Pinblock.
He stated that he was originally from Kiev, Ukraine, but now resided in Brooklyn, New York.
He came seeking an investment of $100,000 in return for 20% of his business.
He explained that the large circle on the top of each block allows creations to bend and fold in ways that regular blocks do not.
How did Vlad respond to the Pinblock episode?
Following the airing of the Pinblock episode in January, Vlad uploaded a lifestream on the company’s Facebook page.
What exactly is PinBlock Freestyle?
Pinblock is a range of construction blocks for kids. Pinblock’s goal is to mix learning into recreation and enjoyment.
How much does a PinBlock cost?
PinBlock is a toy construction block that comes in a range of colors and shapes.
PinBlocks are available in a number of packaging with various color themes for around $40 each box of 1000 pieces.
How much does Vlad charge to make a sample?
The “starting packets” he provided the Shark cost him $3 to create and $19.99 to sell.
What exactly are the Freestyle sets?
The Freestyle kits are the most illustrative of the desire to stimulate creative building because they contain the most bricks and do not come with a limiting manual to rely on.
How does Pinblock work
Pinblock is a construction technique that reinvents construction sets by making every block the same form.
The 2 Pins and curves are present in real blocks. Each Pinblock component includes two spherical pins that serve as pivot points for your models, allowing them to bend and turn.
What are Pinblock Starter Packs?
Pinblock Starter Packs, as the name implies, are the perfect choice if you don’t know much about the intended constructor.