Codi Shark Tank Update

Codi: An Intelligent Robotic Toy for Your Kid

Codi is an interactive, intelligent toy robot featured in Season 12 of Shark Tank. Created by Pillar Learning, it is designed to offer children an educational and entertaining experience, especially those over 12 months old.

Codi is simple to set up despite its technological sophistication. Users need to download an app, follow instructions to create an account and connect the robot to their home Wi-Fi.

The robot may require occasional firmware updates, but this process is simple and does not interfere with the overall user experience.

Though Codi is an intelligent robot, its AI-based interaction capabilities may occasionally present glitches or limitations. This is common for AI-based toys and does not detract from Codi’s primary role as a storyteller, educator, and entertainer.

Codi Robot uses Artificial Intelligence (AI) technology to create a personalized and engaging experience for children.

Codi provides cognitive and social stimulation for children with various features that promote child development. Children can interact with the robot by listening to 130 different stories and listening to 100 nursery rhymes and songs.

Moreover, Codi challenges its young users with tasks that teach perseverance and focus.

Codi: An Intelligent Robotic Toy for Your Kid

Codi robots can recognize different emotions and provide appropriate responses based on the child’s feelings. This feature enhances the toy’s interactivity and helps boost the child’s emotional intelligence and social skills.

Codi also emphasizes key learning points within the stories it narrates, encouraging critical thinking skills. It offers lessons in social conflict management, contributing to the child’s overall emotional and social development.

Made from food-grade silicone and ABS plastic, the robot is both safe and robust, ensuring it is long-lasting and safe for children to handle.

Developed by entrepreneurs Dayu Yang, Chris Oslebo, and William Mock, this technology-infused toy stands 8.5 inches tall with large, expressive eyes, light-up antennae, and color-changing ears.

Designed to be a companion and a learning tool for children aged 12 months and above, Codi responds to voice commands with AI capabilities, making the interaction feel natural and lifelike.

The toy is equipped with a wide range of educational content, including stories, music, new words, facts, interactive games, and quizzes. Its extensive library ensures children always have something new and exciting to explore.

Codi delivers content tailored to your child’s preferences through advanced AI technology and voice-enabled learning algorithms. As your child plays, Codi’s learning algorithms analyze interactions and adjust the content accordingly.

The founders of Codi are Dayu Yang, Chris Oslebo, and William Mock. These individuals from varying backgrounds came together to create a unique and interactive tool for children’s education.

William Mock brought a wealth of knowledge about early childhood education from his Master’s degree and years of experience teaching kindergarten students. His passion for child development shines through his work at Codi.

His upbringing influenced Dayu Yang in an American household. His fondness for educational PBS shows like Mr. Rogers and Reading Rainbow in his childhood fueled his desire to provide similar quality educational entertainment for today’s generation.

Chris Oslebo, alongside Dayu and William, contributed equally to the development and success of the company.

The founders of Codi recognized the importance of quality educational tools for children when they came up with the idea for the company.

They saw a gap in the market for a product that could combine the benefits of learning with the fun of playing intuitively for young kids. After extensive research and reviewing multiple concepts, they arrived at Codi.

Despite being well-received by both children and parents, the Codi team sought investment to grow their company further.

They decided to bring their product to Shark Tank, pitching their innovative toy to millionaire investors in hopes of securing the necessary funding.

Codi Shark Tank Pitch

Codi, an educational toy powered by AI and developed by Pillar Learning, made its appearance on Shark Tank during season 12, episode 8.

The founders, Dayu Yang, Chris Oslebo, and William Mock, pitched their product to the Sharks, requesting a $500,000 investment for a 10% equity stake in their company, valuing it at $5 million.

Codi is designed for children aged 12 months and older, offering over 130 classic stories and songs, teaching daily routines, and more. Parents can manage Codi’s content through a dedicated app available on both iOS and Android platforms.

The toy aims to promote self-learning and independence in children, with the founders highlighting its educational benefits outside traditional classroom settings.

During their pitch, the founders disclosed that manufacturing each unit cost $25.76, while the retail price was $99.99, with plans to increase it to $124.99 in 2022.

They had sold approximately 2,500 units, generating $260,000 in revenue through sales on Amazon and their website.

Despite the product’s advantages, several Sharks raised concerns. They noted the intense competition in the market, especially from major brands like Amazon’s Alexa for Kids. They also questioned the product’s scalability and pricing strategy.

Lori Greiner declined the deal due to these concerns, and Mark Cuban, Barbara Corcoran, and Kevin O’Leary also opted out for similar reasons.

However, Robert Herjavec showed interest. After some negotiation, he offered the requested $500,000 but for a 25% equity stake in Codi Robots.

Despite the higher stake, the founders accepted Robert’s offer, concluding the deal at $500,000 for 25% equity.

In summary, Codi’s pitch on Shark Tank faced mixed reactions, with concerns about competition and costs. Nonetheless, the founders secured an investment from Robert Herjavec, albeit at a higher equity stake than initially proposed.

Codi After Shark Tank

Codi made significant strides after its Shark Tank pitch. Founders Dayu Yang, Chris Oslebo, and William Mock secured a deal with Robert Herjavec on Shark Tank, who offered $500,000 for 25% equity.

However, the deal with Herjavec did not materialize. Despite this setback, Codi received positive reviews and recognition, being named one of Healthline Parents’ Best of 2021.

Codi and Pillar Learning gained industry recognition and continued to innovate, even though the deal with Robert Herjavec fell through, and they faced some marketing challenges.

Despite the high cost of the product being a potential hurdle, the company experienced notable short-term growth following the show.

They reported a 50% profit margin on each sale, showcasing their strong business model. In January 2021, Codi received the prestigious Healthline Parenthood’s Best of the Year Award, recognizing its innovative product within the industry.

Codi After Shark Tank

Pillar Learning’s annual revenue reached $1.2 million in 2022, indicating sustained growth post-Shark Tank. Although a deal was made with Robert Herjavec on the show, it ultimately did not close for reasons not disclosed in the provided text.

The company continues to market and sell the Codi robot, making it available in retail stores like ToysRUs in New Jersey and online platforms such as Amazon. They also explored the idea of introducing paid content, potentially diversifying their revenue streams.

Despite competition from voice assistants like Amazon’s Alexa and Google’s Assistant, Codi has established itself as a popular educational toy, focusing on interactive and beneficial learning experiences for children.

While their social media marketing efforts slowed down, with their Instagram account inactive from March 2021 to September 2022, Pillar Learning remained dedicated to developing new educational tech products using artificial intelligence.

The Codi robot toy business is still operational and available on various platforms. Despite the toy’s high price, the company continued to provide free content for children and considered introducing paid content.

Pillar Learning continues to develop educational tech products, focusing on making them more affordable and accessible. This commitment suggests an active effort to expand their product line and reach a wider audience.

Codi generated an estimated annual revenue of $1.2 million in sales. The toy is available online through various retail chains, including Amazon and eBay.

Codi is still in business with an effective net worth estimated to be $2.5 million.