Roominate: Shark Tank's Net Worth & Where Are They Now?

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Roominate, a toy construction set designed to empower girls in STEM, captured attention on Shark Tank. But what is Roominate's net worth, and where is the company today?

What is Roominate?

Roominate was created by Alice Brooks and Bettina Chen, two female engineers who wanted to inspire girls to pursue careers in science, technology, engineering, and mathematics (STEM). The toy allows kids to build dollhouses and other structures with real circuits, encouraging creativity and problem-solving skills.

Roominate on Shark Tank

Brooks and Chen appeared on Shark Tank seeking investment to expand their business. While they received offers, they ultimately decided to go with Mark Cuban and Lori Greiner, who offered $500,000 for 5% equity.

Roominate's Net Worth

Estimating Roominate's exact net worth is challenging since the company was acquired. However, before the acquisition, Roominate had generated significant revenue, and the Shark Tank appearance undoubtedly boosted its valuation. While specific figures aren't publicly available, it's safe to say the company was worth several million dollars at its peak.

Where is Roominate Now?

Following their Shark Tank success, Roominate was acquired by GoldieBlox, another toy company focused on STEM education for girls. This acquisition allowed Roominate's vision to reach a broader audience and further its mission of inspiring young girls in STEM fields.

Lessons Learned

Roominate's journey offers several key takeaways for entrepreneurs:

  • Focus on a Niche: Roominate addressed a specific need in the market by targeting girls interested in STEM.
  • Solve a Problem: The toy encouraged creativity and problem-solving skills, making it appealing to parents and children.
  • Shark Tank Exposure: Appearing on Shark Tank can provide significant visibility and credibility.

Roominate's story is a testament to the power of innovation and the importance of encouraging girls in STEM. While the company no longer exists as a standalone entity, its legacy lives on through GoldieBlox and the countless girls it has inspired.