Roominate sets include everything your children need to build exciting things that can create many different things, such as spinning windmills, moving elevators, or even using LED lights and fans.
Roominate was named the No.1 Toy of the Year 2014 by Time magazine. It offers hours of imaginative play and encourages kids to learn about Science, Technology, Engineering, and Math.
It is easy to find at retailers like Toys R Us, Walmart, and Radio Shack, as well as online at Amazon. This engaging toy will inspire the next generation of inventors and entrepreneurs.
Roominate was created by two women who credit the toys that they played with as their inspirations to become engineers. It encourages girls to think deeply and solve problems creatively.
Roominate and toys allow children to use their imagination, build confidence, and develop their planning and motor skills.
Do you remember what toys you enjoyed playing with as a child? Which of your childhood toys were important to you? What childhood toys are your favorites? What changed your life after I owned the toys?
Did any of your favorite toys influence your decision to become a successful businessperson?
What Is Roominate?
Roominate is a toy with a construction set aimed at young girls aged six to ten. The Roominate sets include everything your child needs to build intricate working structures with electrical components, such as spinning windmills, moving elevators, lights, and fans.
Roominate teaches building skills and even basic electrical circuitry through storytelling, making the content more enjoyable and engaging.
A playset designed to encourage older women to pursue science, engineering, and technology careers. Essentially, the goal is to construct the dollhouse rather than purchase it ready-made.
|Entrepreneur||Alice Brooks And Bettina Chen|
|Product||Toys For Girls That Teach STEM|
|Investment Asking For||$500,000 For 5% equity in Roominate|
|Final Deal||$500,000 For 5% equity in Roominate|
|Shark||Mark Cuban And Lori Greiner|
|Episode||Season 6 Episode 2|
|Business Status||Acquired, In Business|
Who Is The Founder Of Roominate?
Alice Brooks and Bettina Chen are the founders of Roominate.
Roominate is manufactured by the company Maykah Inc., which Alice Brooks and Bettina Chen founded. The two met while studying at Stanford University for a master’s degree in engineering.
Roominate Before Shark Tank
Roominate is an innovative and brilliant construction set that combines building, creativity, storytelling, and even circuitry into a toy that delights children and inspires them to learn.
They conceived the idea for a unique and interactive game when they noticed that only 15% of women entering college wanted to major in male-dominated fields, especially engineering and science.
The organization’s founders met as master’s degree students at Stanford University, one of the world’s most prestigious research institutions.
They discovered that only 15% of women enroll in college to major in STEM (Science, Technology, Engineering, or Mathematics).
They believed this was partly caused by the toys young girls play with in their bedrooms.
They believed that if females were encouraged to build Barbie houses or other comparable toys in a fun and interactive way, it would be a catalyst for them to follow careers in the same field later in their lives.
They then agreed to focus on inspiring the next generation of inventors.
Alice recalls how her father once gave her a saw as a gift for Christmas when she asked for a Barbie house, adding, “Build your own dream house.” Her father’s comment sparked a lifelong interest in engineering.
Their initial success in raising cash for their Roominate concept led the two entrepreneurs to start production immediately.
The company even secured a high-profile clientele, with their product being sold at Toys R Us and Radioshack.
Within 18 months of launching production, these early successes caused over $1.8 million in sales.
How Was The Shark Tank Pitch Of Roominate?
Alice and Bettina reached the Shark Tank show seeking an investment of $500K in exchange for a 5% stake in Roominate. They appear to have an instant connection with Barbara and Lori.
Roominate immediately drew interest, a rare pitch that went remarkably smoothly.
Bettina and Alice have appeared on the Today Show and have shown off one of their house-building toys with circuitry that operates an electric fan.
Sharks were impressed with Roominate’s display, but not everyone was interested in getting a piece of the action.
Mark Cuban offered to buy Roominate for $500,000 in exchange for 5% of the company. Lori jumped on the deal, saying it could help them sell more products.
They showed the sharks how to use the rooms their Roominators created and combine them by putting together different sets of rooms.
They talked about the revenue they would make from selling the Roominate product. In the three years they have been in business; they had projected to make $5 million from selling the room.
It was a time for distribution, and they saw themselves well distributed in retail stores, such as Toys R Us and Walmart.
Kevin was the first person to go out, mostly because he was willing to invest in the business when there was no definite income.
Barbara was the first to leave because she thought the product was not loyal to its customers, so she left. Mark offered to buy a portion of the company.
According to Robert, he offered $300,000 for a 5% discount, which was the exact amount the duo had asked for. Therefore, he was absent.
Lori agreed with the offers made by Mark to acquire all of their products. Both of the sharks were in for the deal. The two owners agree on the terms of the deal.
Final Deal: Mark Cuban and Lori Greiner agree to invest $500,000 for 5% equity in Roominate.
What Happened To Roominate After Shark Tank?
Mark and Lori’s $500,000 investment has allowed Roominate to expand in many new directions.
From an early purpose of educating children about engineering and electronics, Roominate has expanded its educational tools to include teaching children about programming, owing to Mark Cuban’s expertise.
Roominate’s new “rPower” device is a small hub for connecting all the circuits and lights in your set and allowing children to control them using the Roominate app!
Roominate’s sales have grown from $1.7 million in 2014 to a stunning $4.5 million as of 2022.
Roominate’s incredible sales numbers do not include the lucrative contract they signed recently with Walmart to sell the product in 800 stores and online.
Roominate anticipates that the Walmart contract alone will increase sales by millions of dollars.
Bettina Chen and Alice Brooks, the duo entrepreneurs who appeared on Shark Tank, also updated their office after showing up.
Roominate has established its headquarters in Wisconsin, and eight new employees have been hired.
Roominate has won Time Magazine’s Toy of the Year Award and is now well on its way to its goal of inspiring children worldwide, thanks to two dedicated sharks.
Roominate Shark Tank Update
Roominate’s popularity reached sky-high after its appearance on Shark Tank.
Roominate created a lot of excitement and was a rare pitch that went remarkably smoothly.
Bettina and Alice showed off one of their room-building toys. The toys also contained circuitry controlling an electric fan.
Roominate is available in three different kits, Basic, Deluxe, and Chateau, each costing between 29.99 and 49.99.
Past customers who have used Roominate have been very satisfied with the product.
Most customers didn’t give this product five stars due to the small size of the dollhouse it comes with.
People are willing to pay more for a larger Roominate Kit that contains more parts, so this could be another untapped opportunity for toy makers to keep growing the toy business.
Patch Products acquired Roominate for an undisclosed amount in January 2016. The company was rebranded as Playmonster.
Roominate is still in business under a new brand, Playmonster, generating around $4.5 million as of 2022.
Is Roominate Still In Business?
PlayMonster acquired Roominate after its appearance on Shark Tank in December 2015.
Roominate’s Alice Brooks worked with the PlayMonster team to improve Roominate toys.
Roominate has grown and flourished under her leadership, and she enjoys participating in its development.
What Is the Net Worth of Roominate?
The valuation of Roominate was $10 million when it appeared on Shark Tank. The net worth of Roominate, aka Playmonster, is $4.5 million as of 2022.