In episode 529 of Shark Tank, five entrepreneurs pitched their businesses to the sharks. One of those businesses was Zoobean, a company that helps parents and kids connect and discover new books and activities together. The sharks were impressed with the product and its potential, but they weren’t sure about the business model. Ultimately, Mark Cuban decided to invest in Zoobean and become a part of its team!
What Is Zoobean?
Zoobean (now known as Beanstack) is a learning-based firm dedicated to enticing students to read and learn about the English language. Each of their four key product categories is tailored to a specific audience based on who the product is intended for: libraries, schools, consumers, and businesses.
For libraries, they offer an online reading platform that allows patrons to track their progress and earn digital badges for reading milestones. For schools, they offer a literacy assessment tool to help educators identify areas of need for individual students. And for businesses, they offer an AI-powered chatbot that helps employees improve their grammar skills. By tailoring their products to different audiences, Beanstack is able to provide valuable services to a wide range of customers.
Zoobean is ideal for educators and parents that have young children starting to learn how to read. The website has a library of over 1000 books that are sorted by age and interests. Each book has an accompanying activity that helps reinforce the concepts learned in the book. The activities are designed to be completed in about 15 minutes, making them perfect for short attention spans!
In addition to the books and activities, Zoobean also offers a monthly subscription box service. This service is perfect for parents who want to make sure their kids are staying on track with their reading goals. The boxes come with three books and two activities, as well as a parent guide with tips on how to make reading time more fun for everyone involved!
Zoobean is created by a husband and wife team, Felix and Jordan Lloyd. Felix is a former elementary school teacher, and Jordan is a mom of two young kids. They were inspired to start Zoobean after they saw how much their own children loved to learn through books and activities.
The company has been in business since 2012 and has received funding from Mark Cuban, as well as other investors.
Is The Company Still Active?
Yes, the company is still active and continues to help parents and kids connect through books and activities. The monthly subscription boxes are a great way to make sure your kids are staying on track with their reading goals. Zoobean is also perfect for educators who want to use the literacy assessment tool to identify areas of need for individual students. By tailoring their products to different audiences, Beanstack is able to provide valuable services to a wide range of customers.
How Did The Shark Tank Pitch Go?
Felix and Jordan entered the Shark Tank seeking $250,000 in exchange for a 15% equity stake in their company. Kevin is worried about the customer acquisition cost, and Lori doesn’t think the business model is sustainable.
However, Mark Cuban disagrees with other sharks stating that he thinks Zoobean has a “defensible moat.” He also likes that the company is able to generate revenue from multiple sources. In the end, Mark Cuban decides to invest $250,000 in exchange for a 30% equity stake in the company.
The couple counter-offered with 20% equity. In the end, they settle in the middle, with Mark taking 25% equity in the company.
Our Review Of Zoobean
We think Zoobean is a great company that offers a unique service. We love that they offer a monthly subscription box service for parents who want to make sure their kids are staying on track with their reading goals. The boxes come with three books and two activities, as well as a parent guide with tips on how to make reading time more fun for everyone involved!
There are so many reasons to love Zoobean! First of all, it takes the guesswork out of finding appropriate books and activities for your children. With personalized recommendations, you’re sure to find books that your kids will love. And the monthly subscription boxes make it easy to keep track of your child’s reading progress.
But what really sets Zoobean apart is their commitment to helping children in need. For every book purchased, they donate a book to a child in need. They also partner with literacy organizations around the world to help promote literacy and provide resources to those who need them most.
You can also download the Zoobean app on your iPhone or Android device. The app allows you to search for books by age, interest, and reading level. You can also track your child’s reading progress and set goals for them to reach.
We think Zoobean is doing an amazing job of promoting literacy and making it fun for everyone involved! If you’re looking for a great gift for a young reader in your life, we highly recommend checking out Zoobean!
Pros
- Offers a monthly subscription box service
- Committed to helping children in need
- Partners with literacy organizations around the world
Cons
- Some of the books recommended may not be appropriate for all children
Are There Any Alternatives?
If you’re looking for an alternative to Zoobean, there are a few other companies that offer similar services.
One such company is called ReadingIQ. It is an app that provides access to over 12,000 books, as well as articles and videos. The app also offers personalized recommendations and tracking tools to help parents monitor their child’s reading progress.
Another alternative is Epic!, which is an online library of over 25,000 books, comics, and videos for kids 12 and under. Epic! also offers a monthly subscription service that gives unlimited access to all of their content.
Our Final Thoughts
We think Zoobean is a great company that is doing a lot of good in the world. If you’re looking for a way to help promote literacy, we highly recommend checking out their services!
