STEM Center USA Shark Tank Net Worth 2023
When STEM Center USA appeared on the television show Shark Tank to pitch their business idea, their net worth was assessed at $1 million.
However, the company has since continued to provide its services and generate income. As of the year 2021, it is estimated that the net worth of STEM Center USA has increased to $1.6 million.
This suggests that the company has been successful in its operations and has been able to grow its financial assets over time. STEM Center USA is still in business with annual revenue of $2 million as of 2022.
What is STEM Center USA? Who is the founder of STEM Center USA?
STEM Center USA is a non-profit organization founded in 2011 by Melissa and Lavanya Jawaharlal. Their goal is to share their passion for engineering with middle school, high school and college students through hands-on, experiential learning at their physical location in Claremont, California.
They offer a variety of programs for students of all ages and host public events to engage the community in STEM fields.
Melissa is an engineer at Raytheon Space and Airborne Systems and Lavanya is a student in the Mechanical Engineering program at the University of California, Berkeley.
They raised over $100,000 on Kickstarter in 2014 to support their PI Robot kit, which allows students to build a robot at a low cost for hands-on experience.
STEM Center USA Shark Tank Pitch
Lavanya and Melissa, who are known as the Jawaharlal sisters, presented their STEM education center, STEM Center USA, on Shark Tank.
They aimed to secure $150,000 in exchange for 15% ownership of their $1 million-valued company. During their pitch, they highlighted the accomplishments of their 85 members and $135,000 in profits.
However, some of the Sharks were hesitant about the scalability and focus of their business, and a few declined to invest.
Nevertheless, Chris Sacca expressed interest and offered $150,000 for 25% ownership of the company, which was valued at $600,000. The sisters refused this offer since they were set on their $1 million valuation.
Lori Greiner also expressed interest and offered $150,000 for a 20% equity share, which was valued at $750,000. Eventually, they agreed on a deal of $200,000 for a 20% equity share in the company with a $1 million valuation, and the deal was finalized.
After the Shark Tank appearance, STEM Center USA did not finalize a deal with Lori Greiner. Nevertheless, the organization continued to operate, adapt, and expand.
They launched a Kickstarter campaign on the same night as their Shark Tank appearance for a wearable electronics kit called the Fiat LUX. They intended to use Lori’s funding to franchise and expand their business across the United States.
When the COVID-19 pandemic hit, they adapted to the situation by offering virtual lessons, and they claim to have served over 20,000 students. As of 2021, their yearly income is reported to be $2 million.
Net Worth of STEM Center USA
The net worth of STEM Center USA was valued at $1 million during their pitch on Shark Tank. However, since then, the company has continued to generate revenue from their services, and as of 2021, it is estimated to have a net worth of $1.6 million.
STEM Center USA FAQs
What is STEM Center USA?
The STEM Center is a self-described “dynamic learning organization” that offers after-school and summer camp programs for K-12 students, operating out of its Claremont, California location.
Who is the founder?
The STEM Center was co-founded by entrepreneurs Lavanya and Melissa Jawaharlal.
Where is the center located?
The STEM Center is located in Claremont, California.
What is their offer on Shark Tank?
They were asking for $150,000 for 15% stake in their company with a valuation of $1 million.
Did they get the offer?
Yes, they got the offer.
How much was the offer?
Lori offers them $200,000 for 20% equity shares in their STEM firm with a valuation of $1 million. But they never close the deal.
Is still in business?
Yes, they are still in business.
How many students are parts of their club?
They have over 20,000 students in the US and Europe.
Who is the target student?
The STEM Center has a very wide reach in terms of its target students.
What is the Net worth after Shark Tank?
They are estimated to be $1.6 million in net worth by 2021.
How do I contact the STEM Center?
You can contact the STEM Center by calling (909) 399-1300 or through their website.
What is a middle school welder?
It’s a program for students who want to learn how to weld while building construction toys, designed for middle schools.
What do they do?
They hope to inspire kids to follow their dream passion for engineering with their educational programs.
Who is Melissa Jawaharlal?
Melissa Jawaharlal is the co-founder and President of STEM Center USA. Her professional experience as a biomedical engineer and work as a software engineer at Raytheon Space and Airborne Systems has given her the background and experience to run and grow the organization.
She enjoys seeing young people excel, especially those who have to overcome obstacles to accomplish their goals.
How is the business model?
The STEM Center has one kind of membership that gives exclusive access to all their programs.
Is it safe?
When an individual joins the STEM Center, their information is not sold to third parties. This also applies to other email lists Melissa has.
They only use the information for communication purposes and do not sell it.
How long have they been in business?
Since 2011, when Melissa founded STEM Center USA.
How did they make a profit?
Their revenue comes from selling memberships to their programs, which cost from $1400-1800 per year depending on what program a member chooses to take part in.
What are the strengths?
The STEM Center teaches kids how to make, build and create things. This is a very important skill in the future of business.
Is there any opportunity?
Yes, the opportunity is for those who want to be part of the fastest growing (education) business.
How does STEM Center USA use social media?
They use social media as a way to promote their services and products.
What is their goal?
Is to educate kids and inspire them to pursue a career in engineering and technology.
