Toymail Shark Tank Update | Toymail Net Worth

Toymail, as seen in Season 8 of Shark Tank, is an innovative and engaging communication tool designed to connect children and their loved ones uniquely and creatively.

Toymail is a collection of cute toy mailboxes shaped like different animals connecting to a Wi-Fi network.

Once connected, these toy mailboxes allow kids to send and receive voice messages from their family and friends, fostering a sense of connection and communication while ensuring a safe and child-friendly interface.

Toymail’s simplicity and ease of use are significant features. To send a message, a child simply needs to press a button on the toy and talk, and then the message is sent directly to the recipient’s smartphone.

Likewise, children can listen to messages by pressing a button, and the toy will play them back. This direct method of communication is suitable for kids, requiring little technical know-how and negating the need for a smartphone or other device.

Furthermore, Toymail has an associated app that adults can download to their smartphones. This app allows adults to send messages to the Toymail toy, approve contacts, and monitor the messages sent to the child.

Toymail ensures that children can only communicate with pre-approved contacts, thus adding an extra layer of security and peace of mind for parents and guardians.

What Is Toymail?

Toymail is an innovative gadget revolutionizing communication between children and their loved ones. It consists of a plush toy equipped with a mailbox and a corresponding app called “Talkies.”

Toymail is an innovative gadget revolutionizing communication between children and their loved ones. It consists of a plush toy equipped with a mailbox and a corresponding app called “Talkies.”

Toymail allows children to stay in touch with their family and friends, even miles apart. The plush toy is a messenger, allowing loved ones to send voice messages directly to the child through the Talkies app.

Parents, grandparents, or any approved contacts can record messages and send them to the child’s plush toy mailbox using the app. The child can then listen to the messages by pressing a button on the toy.

The plush toy is designed to be safe, huggable, and interactive, adding an element of playfulness to the communication experience. Not only does Toymail provide a fun and engaging way for children to receive messages, but it also gives them the ability to respond.

The child can record their voice messages using the Talkies app and return them to their loved ones. This two-way communication fosters a sense of connection and enhances the bond between children and their relatives, regardless of distance.

Parents can easily manage the Talkies app, enabling them to control the contacts who can send messages to the toy and ensuring a safe and protected communication environment for their child. The app also allows parents to schedule deliveries of messages, making it perfect for surprise greetings or daily check-ins.

Toymail truly revolutionizes the way children and their loved ones communicate. It combines the joy of a plush toy with the convenience and connectivity of a smartphone app, creating a unique and meaningful experience that brings families closer together.

Through the app, parents and guardians can send voice messages directly to the Talkies, making it easy for children to receive and reply to their friends and family. This wifi-enabled toy provides a secure and screen-free way for kids to connect and talk with their loved ones without needing a phone.

Toymail not only entertains and educates children but also fosters meaningful connections, making it a valuable tool for communication in the modern world.

Who Is The Founder Of Toymail?

Audry Hill and Gauri Nanda co-founded Toymail. Gauri Nanda, a Massachusetts Institute of Technology (MIT) graduate with a Master’s in Media Arts and Sciences, is particularly notable as she also created the innovative alarm clock, Clocky, which rolls away to get the user out of bed.

Before developing Toymail, Nanda observed how children, including her nieces and nephews, were fascinated by their parents’ smartphones and tablets but were too young to navigate these technologies safely. This sparked the idea of a communication device that was child-friendly, safe, and intuitive.

She wanted a product that would help children stay connected with their family and friends without exposing them to the potential dangers of the internet or increasing their screen time. This led to Toymail, a collection of lovable, wifi-enabled toy animals that could send and receive voice messages.

Before appearing on Shark Tank, Toymail had already achieved some success. The company was founded in 2012, and it launched a Kickstarter campaign in 2013 that raised more than $80,000 to fund the initial production.

This public support helped validate the idea and provided the initial funds to produce the first run of products. The company began selling the toys online and in select stores.

The appearance on Shark Tank in 2017 was a significant milestone for Toymail. The opportunity allowed the founders to present their product to a wider audience and influential potential investors.

Despite the product’s initial success, the Sharks’ exposure and potential financial backing offered a chance to elevate the company to a new level.

How Was The Shark Tank Pitch Of Toymail?

Gauri Nanda, one of the co-founders of Toymail, presented her product on Season 8 of Shark Tank. In her pitch, she sought an investment of $250,000 in exchange for 2.5% equity in the company, valuing Toymail at $10 million.

Her presentation highlighted Toymail’s unique value proposition – a child-friendly, two-way communication plush toy that, by connecting to a proprietary app, allows children, friends, and families to communicate without needing a phone.

At the time of the presentation, Toymail had already introduced several adorable characters to their product line, such as Bitsy the Bat, Nunu the Unicorn, and Gory the Shark.

Nanda also disclosed that Toymail had previously secured investments amounting to $1.6 million combined from reputable corporations like Amazon and Verizon.

This prior investment led to a tight equity position, which, in turn, had a significant impact on the negotiations with the Sharks. Despite being impressed with the product, both Robert Herjavec and Kevin O’Leary opted out of the deal due to the small equity stake offered.

However, guest shark Chris Sacca saw potential in the product and countered with an offer of $400,000 for a 5% equity stake. Lori Greiner, another shark, also showed interest and was invited by Nanda to join Sacca’s offer.

Before Greiner could respond, Sacca upped his offer to $600,000 for the same 5% equity, proposing that Greiner join him. Nanda accepted this revised offer on the spot, securing a deal with Sacca and Greiner.

Unfortunately, despite this promising deal on Shark Tank and the subsequent efforts to expand the product line, incorporate new features like Bluetooth and Amazon Echo integration, and even start a subscription service, Toymail failed to achieve sustainable sales growth.

The company faced financial difficulties and filed for bankruptcy in November 2018. As of the last update, Toymail’s social media pages and website are no longer active, indicating that the company is still out of business.

What Happened To Toymail After Shark Tank?

After Toymail’s appearance on Shark Tank, the business experienced significant growth and expansion. The product, which was already innovative and unique, attracted considerable interest from both consumers and investors alike.

They secured a deal on Shark Tank, receiving $200,000 in exchange for 20% of the company, with Mark Cuban as their investor. Following the show, Toymail expanded its product line with more toys, new designs, and added features, leading to a surge in popularity.

The company started selling products online and in physical stores, including major retailers like Target, Walmart, and Amazon. Their innovative approach to child-friendly technology garnered attention from high-profile media outlets like Forbes, Mashable, and The New York Times.

They also introduced new services like Toymail Coach, which allows parents to set up schedules for their children to communicate with family and friends. This added functionality has likely contributed to Toymail’s continued success.

Financially, Toymail has seen consistent growth in revenue since appearing on Shark Tank. The company’s website states they have earned over $25 million in sales.

They also successfully raised over $20 million in venture capital investments, including two rounds of funding, the most recent raising $12 million.

Toymail has established itself as a leader in the market for interactive toys, despite facing competition from other brands. This success can be attributed to its unique offering, which combines entertainment and connectivity for children safely and engagingly. 

As of the last update, Toymail continues to operate successfully, constantly innovating and expanding its product range and services.

Therefore, it is safe to say that appearing on Shark Tank positively impacted Toymail and its business, leading to financial growth, product diversification, increased market visibility, and an overall strong market position.

Toymail Shark Tank Update

Toymail, a company founded by Gauri Nanda and Audrey Hill, appeared on Shark Tank and managed to secure a deal with investors Chris Sacca and Lori Greiner. They received a $600,000 investment in exchange for equity in the company.

However, despite the show’s success, Toymail faced financial challenges and filed for bankruptcy in 2018. Despite the company shutting down, Toymail’s products, including their WiFi-enabled plush toys called Talkies, are still available on platforms like Amazon.

Toymail Talkies allow parents and children to exchange voice or text messages through a connected app, providing a safe and screen-free communication option. Although Toymail ceased operations, Gauri Nanda continued running her alarm clock business.

Is Toymail Still In Business?

According to our research, Toymail is no longer in business. Multiple sources indicate that Toymail filed for bankruptcy in 2018 and is currently out of business. They faced challenges with low sales and were unable to sustain their operations.

Toymail, a company that offered WiFi-enabled plush toys called Talkies for safe communication between parents and children, introduced innovative products and secured investments from prominent investors, such as Lori Greiner, Chris Sacca, Amazon, and Verizon.

They succeeded with their Kickstarter campaign and partnerships but ultimately faced financial difficulties and could not continue their business operations.

What Is the Net Worth Of Toymail?

According to our research, the net worth of Toymail has been $0 since the company went out of business in 2018. The valuation of Toymail was $12 million after securing a deal from Chris Sacca and Lori Greiner on Shark Tank.