Toybox 3D Printer Shark Tank Update | Toybox 3D Printer after the Shark Tank Pitch
What is Toybox 3D Printer?
Toybox 3D printer is a printer intended for children in elementary school (ages 6 to 9).
Kids may design their own logos using harmless materials from a kit, which relieves parents of one concern. Furthermore, they can be printed in 3D, making each design truly unique.
They may make their own design or they can select from their existing collection. In any case, they just load it up and print it out as a toy for them to enjoy.
Everything they need to do to run the Toy Box printer is done online or via a smartphone app.
They may create toys from their vast online inventory, which contains anything from vehicles to chess pieces to action figures.
Children can even create a “block friend” in their own image. They may also create their own toy or import one from a photograph.
The printer food is what creates the printed toys. It is constructed of non-toxic, biodegradable PLA plastic derived from maize oil.
The printer is made entirely of metal and is intended for children’s safety. It is completely contained, as opposed to industrial 3D printers.
Toybox was founded by Jenn Chin and Ben Baltes. They each had separate professional trajectories prior to founding their firm.
Jenn Chin graduated from California Polytechnic Institute and began working for Workday Corporation as a product designer.
Ben Baltes, her business partner, had previously worked as a software developer for Microsoft Corporation before launching Toybox Labs in Oakland, California.
Who Founded Toybox 3D Printer?
Jen Chin and Ben Baltes are the founders of the Toybox 3D Printer.
What happen to Toybox 3D Printer at the Shark Tank Pitch?
Back in September of 2107, they launched the company with a successful IndieGoGo campaign that raised $155,605.
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 disclose that they make their product for $150 and sell it for $299 after displaying it and handing out samples. They’ve made $300,000 since its start, including IndieGoGo sales.
The prototype item they gave out takes 4 hours to construct, and the Sharks don’t think 6-9 year olds will be able to handle it.
Jamie believes that $299 is too much for a device that a child can rapidly lose interest in.
Mark was the first shark to quit, citing a lack of attention span.
Daymond was the next to bail on the arrangement, citing liability concerns.
Lori swiftly follows Jamie out of the deal.
Kevin then reduces his offer to $150,000 for 15% because there are no other bids.
Ben and Jen reply with 12 percent, but Kevin is unfazed. They reply with another $150,000 for 13 percent and 2% advisory shares, which Kevin accepts.
Toybox 3D Printer after the Shark Tank Pitch
As of June 2019, it does not appear that they have completed their transaction with Kevin.
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 never concluded.
Toy Box signed a license arrangement with Beano Studios, the creators of the Dennis & Gnasher: Unleashed animated series, which is available on Netflix in the United States.
They secured $2 million in a venture round with six different venture capital companies in May of 2019.
Warner Brothers signed the largest license agreement to date in March 2021, including the entire DC Comics world.
The business expected $24 million in revenues in June 2021 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
