What Happened To Toygaroo After Shark Tank?

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Toygaroo is a Los Angeles-based company founded by Nikki Pope in 2017. It was created with the goal of providing families with cost-effective toys that can be used again and again as their children grow up. 

In fact, according to Pope, Toygaroo was inspired by her thirteen nieces and nephews—the "playtime pros"—who kept outgrowing their toys almost as soon as they got them.

What is Toygaroo?

Toygaroo is a subscription box that delivers toys right to your door. It's a great way to get your kids excited about playing with new things, and it's also a fun way for parents to discover new toys that they might not have known about otherwise!

What Happened To Toygaroo After Shark Tank

Toygaroo has been termed the "Netflix of toys." Consumers can visit the Toygaroo website, choose the best plan for them, and fill their wish lists with items they want to receive. 

When the children have finished playing with the toys, the parents simply place them back in the box, use the Toygaroo return label given, and return the box to Toygaroo.

Toygaroo features

Toygaroo provides a cost-effective alternative for parents to not only tidy their homes but also keep their children entertained by always having new toys available.

In this post, we're going to explore what happened to Toygaroo after Shark Tank, why it's so important for businesses like Toygaroo to succeed, and how you can use the lessons learned from Toygaroo as you start your own business.

Toygaroo history

Nikki Pope's company, Toygaroo, is based in Los Angeles, California. Nikki Pope claims to have a huge family, thirteen nieces, and nephews in total, and that they, like any other child, like playing with toys.

She refers to her nieces and nephews as "playtime pros," but the problem is that the toys they own rapidly bore them

According to Nikki Pope, this is what inspired her and her husband to create Toygaroo.

According to Nikki Pope, Toygaroo provides a cost-effective alternative for parents to not only tidy their homes but also keep their children entertained by always having new toys available.

Toygaroo Shark Tank pitch

Nikki Pope begins her presentation by introducing herself to the Sharks, revealing that her firm is called Toygaroo and that she is seeking a $100,000 investment in exchange for a 10% ownership in the company.

Toygaroo Shark Tank pitch 1

According to Nikki Pope, her siblings buy toy after toy for their children, clogging their playrooms, living rooms, and bedrooms with toys that are bought, played with for a few weeks, and then abandoned.

Nikki argues that Toygaroo addresses that issue as well as many others.

The inquisition

Mark inquires about how many toys she has in her inventory. Nikki Pope responds that she has over 300 different sorts of toys in her store.

Kevin inquires about how many families have signed up for Toygaroo memberships.

According to Nikki, they had a soft launch with 500 people, which was essentially a test to determine how many families were interested. All of the participants were paying 42 dollars each month for a box of toys valued at more than $200. 

This means that a subscription to Toygaroo costs those families $500 per year, which is fantastic given that the average family spends between $1200 and $14000 on toys each year.

Mark Cuban inquires about how much it costs Nikki to send a single toy box. Nikki responds to a play box that contains toys worth $200, and it costs her anywhere from $50 to $90.

This means she generated enough money to break even after only two and a half months in business.

Kevin asks Nikki Pope how much money would have to be invested to purchase such merchandise for every million dollars in sales. Nikki's response is $64,000, which is the cost of the toys. That will cover a whole year's worth of toys.

Drama ensues

Kevin O'Leary becomes enraged for some reason and declares that he has had enough. He goes on to clarify that there is a problem, which is that Nikki does not yet have a million-dollar firm, but she is asking him to pay her as if she does.

He wants to invest in Toygaroo because the concept is intriguing and the company has a great deal of potential

Kevin asks whether she has any Toygaroo companions. Nikki says her spouse is a partner, and she also has a site designer and two online marketers working with her. She has a 10% stake in Toygaroo.

Kevin O'Leary inquires as to who owns the rest of Toygaroo. Nikki claims that each partner owns ten percent of Toygaroo, with the exception of her husband, who owns fifty percent.

The conundrum

Kevin wonders why she gave away such a large portion of her company, considering the fact that she founded it.

The conundrum

Nikki claims that her husband has worked alongside her on Toygaroo every day and has devoted a significant amount of time and effort to the company.

Daymond John claims to have a negative history with business partners who do not own a majority stake in their own company.

He goes on to say that it is extremely risky to invest in a company and a person in which he does not have a majority stake, thus he is out.

The offers

Kevin O'Leary says he wishes Nikki Pope controlled more of Toygaroo, but he is still going to make her an offer. Kevin O'Leary makes a hundred thousand dollar offer in exchange for a 35 percent share in Toygaroo.

Kevin O'Leary tells Nikki Pope that it is unusual for him not to request ownership of the company, especially because he is a control freak.

He doesn't want the controlling stake since he believes in Nikki Pope and promises her that he would make her wealthy.

Robert Herjavec claims that the toy company, which is his expertise, might do well on the internet, but he needs Mark Cuban's aid.

Robert Herjavec and Mark Cuban propose a two-hundred-thousand-dollar joint venture in exchange for a forty-percent share in Toygaroo.

Barbara Corcoran stated that she was prepared to give far less, implying that she did not wish to participate in the bidding battle. Barbara Corcoran has stated that she is leaving.

The deal

Robert Herjavec believes Nikki requires more resources and the ability to move faster, which is why she should promote more on the internet. 

Mark Cuban claims to be an expert in hypergrowth, particularly when it comes to the internet. Nikki inquires of Kevin about his affiliation with Fisher-Price and Mattel since she is aware that Kevin O'Leary has previously worked with/for them.

Kevin responds that Fisher Price and Mattel will never forget who he is because he has done so much for them. Nikki inquires of Kevin O'Leary about increasing his number.

Kevin responds to the topic by asking Nikki if she would accept his offer if he increased it to $200,000.00. Nikki nodded up and down. 

Kevin O'Leary says he appreciates what Mark Cuban brings to the table and wants to share the offer with him. Mark Cuban expresses his approval, leaving Robert Herjavec behind. Nikki Pope accepts Kevin O'Leary and Mark Cuban's offer.

DEAL: Mark Cuban and Kevin O'Leary with $200,000 for a 40% stake at Toygaroo.

What happened to Toygaroo after Shark Tank?

Despite the fact that Nikki received an investment from Mark and Kevin, it appears that the company no longer exists.

What happened to Toygaroo after Shark Tank 2

Toygaroo was on the verge of bankruptcy a few years ago, especially when they displayed a banner on their website declaring they couldn't accept any more members due to "explosive growth." 

After doing some research, I discovered that the Toygaroo website domain name and brand name have been sold, indicating that the company is no longer in business.

It is unfortunate that firms continue to fail, even when they are sponsored by the Sharks.

Toygaroo pricing

A play box that contains toys worth $200, and it costs her anywhere from $50 to $90. This means she generated enough money to break even after only two and a half months in business.

Toygaroo pros & cons

Whether you're looking for a new game or a gift for a special occasion, there are plenty of options to choose from but before you decide read our article's first cause, I've listed the pros and cons of Toygaroo below.

Pros

  • Easy to subscribe and filled with great items.
  • You don't have to go out of your way to get it.
  • It's affordable and has fair prices.

Cons

  • While the boxes are always filled with new toys, they're not always good quality.

Conclusion

I’m not so sure what happened to Toygaroo after the Shark Tank, but we do know that they're not in business anymore. But hey, we can't tell them how to run their business! 

Maybe they'll learn from this experience and come back stronger than ever or maybe they'll just get eaten by sharks (just kidding). Only time will tell. Thanks for reading!

About the author 

Peter Keszegh

Most people write this part in the third person but I won't. You're at the right place if you want to start or grow your online business. When I'm not busy scaling up my own or other people' businesses, you'll find me trying out new things and discovering new places. Connect with me on Facebook, just let me know how I can help.

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