Toybox 3D Printer Shark Tank Net Worth
According to their Shark Tank pitch, Toybox Labs had an imputed valuation of $3 million. They received a $150,000 investment from the sharks in exchange for a 5% stake in the company.
As of 2022, Toybox Labs’ founders Jenn Chin and Ben Baltes have a net worth of $16.3 million. The company has also raised $2 million from investors and expects to bring in millions in revenue over the next few years.
What is Toybox 3D Printer and Who Founded Toybox 3D Printer?
Toybox 3D printer is a printer specifically designed for elementary school children aged 6 to 9. The printer allows children to design their own toys using harmless materials from a kit, which can then be printed in 3D, making each toy unique.
Children can either create their own design or select from the printer’s existing collection, which includes vehicles, chess pieces, and action figures. They can even create a “block friend” in their own image or import a toy from a photograph. All of the printer’s functions are accessible online or via a smartphone app.
The printer uses non-toxic, biodegradable PLA plastic derived from maize oil to create printed toys. For safety purposes, the printer is made entirely of metal and is fully enclosed, unlike industrial 3D printers.
Jenn Chin and Ben Baltes are the founders of Toybox. Prior to launching their company, Jenn Chin worked as a product designer for Workday Corporation after graduating from California Polytechnic Institute, while Ben Baltes worked as a software developer for Microsoft Corporation before starting Toybox Labs in Oakland, California.
In summary, Toybox 3D printer is a unique printer designed for children to create and print their own toys, and it was founded by Jenn Chin and Ben Baltes.
Toybox 3D Printer Shark Tank Pitch
In September 2017, Toybox 3D Printer launched a successful IndieGoGo campaign that raised $155,605. When founders Ben and Jen pitched their product to the Sharks, they asked for $150,000 for a 5% stake in their company, which valued the company at $3 million.
During the pitch, the Sharks expressed doubts about the product’s feasibility. They pointed out that the prototype took four hours to build and that the product’s price point of $299 might be too high for a device that children could quickly lose interest in.
Despite these concerns, Kevin offered $150,000 for a 15% stake, which Ben and Jen negotiated down to a 13% stake and 2% advisory shares.
However, as of June 2019, it did not appear that the deal had been completed. Toybox did sign a licensing agreement with Beano Studios, the creators of the Dennis & Gnasher: Unleashed animated series, and in May 2019, they secured $2 million in a venture round with six different venture capital companies.
In March 2021, Warner Brothers signed the company’s largest licensing agreement to date, including the entire DC Comics world. By June 2021, Toybox was expecting to generate $24 million in revenue for the year.
Toybox 3D printer Net Worth
Ben and Jen approach Shark Tank with a $150,000 offer for a 5% stake in their company, this implies a valuation of $3 million.
They accepted an offer from Kevin O’Leary of $150,000 for 13% ownership, which the valuation of the Company to be $1,153,846.15.
Toybox 3D Printer Competitors
There are 3D printer companies that competes with Toybox which includes:
Form 2, Makerarm, Obsidian 3D Printer, Zooheads, MakePrintable, POPIN, ZMorph and
Jellies.
Toybox 3D Printer FAQS
How much does a 3D printer for a Toybox cost?
The Toybox 3D printer is $299.
When was Toybox on Shark Tank?
Toybox aired on March 11, 2019.
Toybox was featured on which Shark Tank episode?
It aired in Season 10, Episode 15 of the show.
What age group is the Toybox 3D printer intended for?
They’ve made it incredibly simple to get started printing right now.
They provide entertainment for the whole family.
Toybox is appropriate for everyone above the age of five. They always recommend that youngsters utilize it under the supervision of their parents.
Is it true that Toy Box got a contract on Shark Tank?
On the Toybox website, they highlight the fact that they made a deal with Kevin, yet they aren’t listed as one of Kevin’s firms on Kevin’s website. The reason for this is that the transaction was never completed.
How do they reset their toy box printer?
Unplug and reconnect their Toybox. Then, beginning in the top left corner, tap around the corners of the booting screen. There will be a menu displayed. In the pop-up window, click the “reset” button.
Is Toybox suitable for their children?
Toybox employs non-toxic PLA, a biodegradable corn-based filament intended particularly for younger builders while avoiding potentially dangerous components used by other printers.
They also don’t need to use any sharp tools to remove objects because to its magnetic bandable build plate.
What distinguishes Toybox from other 3D printers?
Toybox was created from the ground up with enjoyment and simplicity of use in mind.
They make it possible for kids to 3D print their own toys by providing an easy-to-use interface and a large range of high-quality toys and content.
They empower youngsters to build greater experiences and tales with their toys by providing them the opportunity to construct their own toys on the fly.
Are they able to upload their own models?
Yes. Toybox enables them to import models from the internet as well as their own creations. Models in STL, OBJ, and gCode formats may be imported.
Are they tethered to the Toybox system?
No. Models from other platforms may be imported, and other 1.75mm PLA filament can be used. However, their Printer Food Rolls are Toolbox’s favourite, and they cannot guarantee that other rolls will not make Toybox sick.
What kind of printing materials are used?
PLA is used in their Printer Food rolls. They exclusively sell PLA rolls since they are non-toxic and biodegradable.
Can they connect the printer to an electrical outlet?
Yes, Toybox may be connected into any 100V-240V outlet.
How long does printing take?
The printing time is entirely determined by the geometry of the model being printed. Because it is thin, a little ninja star, for example, might be completed in less than 5 minutes. Larger models require more time.
How will they be able to import their own models?
They may add their own models by going to the Creator Space and clicking the import option.
Can Toybox utilize different types of filament?
Toybox printer food is compatible with any other 3D printer that uses filament with a diameter of 1.75 mm.
What kinds of things can they print on a Toybox?
On their Toybox, they may print any STL, OBJ, or gCode file. If they have any problems or concerns concerning the Creator Space, please contact them at [email protected]
Who owns Toybox Labs?
Jenn Chin and Ben Baltes co-founded ‘Toybox,’ a 3D printer for designing and printing toys for children.
What is Jenn Chin net worth?
Currently there is no updates on his net worth
What is Ben Baltes net worth?
Currently there is no updates on his net worth
