Introducing Codi, the revolutionary smart toy that teaches your child while they play. This innovative learning tool became a hit after its appearance on Shark Tank and has been making waves in the education industry ever since.
With its interactive features and engaging content, Codi is transforming the way kids learn and play. Are you ready to join the Codi revolution?
Codi was introduced as a fun and “educational storytelling robot” built on modern smart home technology by 3 young entrepreneurs Dayu Yang, Chris Oslebo, and William Mock.
It was a learning device for children of age group up to 7 years. It is a robot toy made with aim of reducing the engagement of kids with Mobile phones and Tablets. It works as a personal attachment friend that children love to play with.
Codi is engaging, beneficial, and incredibly cute. Codi has 130 stories with age-appropriate recommendations and its library is constantly growing.
It has 100 classic songs that make your kids move and even a “slow playlist” for calming down or sleeping. It also can respond to simple questions designed just for kids. Parents can control and monitor all its functions from Codi’s App.
Codi at a glance:
| Episode | Season 11, Episode 28. |
| Business Idea | Educational-Robot-Company. |
| Founder’s Details | Dayu Yang, Chris Oslebo, William Mock. |
| Asked For | $500,000 for 10% |
| Accepted Deal | $500,000 for 25% |
| Sharks | Robert Herjevic. |
| Business Status | in Business. |
| Website | Codi |
| Buy on Amazon | Buy Now! |
Index:
Founder Story:
Codi was founded by 3 young entrepreneurs Dayu Yang, Chris Oslebo, and William Mock. Three friends came to invent a solution for children to make distance with their Mobile phones and Tablets.
Dayu Yang has a “bachelors” degree in technology from “Stanford University” later he joined a social and mobile gaming company where they launched products that reach millions of people. He also completed her MBA from “Wharton” and spend 2 years at the Boston Consulting Group which helps him to refine her business acumen operations and strategies.
Christ Oslebo is also at “Stanford” with Dayu, and studies “International Relations and Chinese”. After graduating they joined the toy industry. They brought thousands into the market (from concept to shipment.
William Mock was a classmate of Dayu at high school after he graduated from “US Berkeley” they worked in “International Curriculum Design” as well as education consulting.
They saw the gap in learning among students especially in “Social and Emotional Learnings”. To fill the gap in learning they changed their job and became a Kindergarten Teacher in Washington DC for 2 years.
Did Codi get a deal on Shark Tank?
Dayu and his team run a company called “Pillar Learning Co.” they presented Codi as a storytelling robot for children of up to 7 years in ABC’s famous reality show Shark Tank.
They have also described its features and benefits of them and want financial support of $500,000 at a 10% stake in his company. They introduced its product and gave samples to sharks. They also presented a short video to better introduce its product.
Sharks found Codi as an interesting product and asked for their sales, as Dayu describes that it sold for $99.99, and that costs him $$25.76 to manufacture it. They sold over 2,500 units and $260,000 in sales from their website and Amazon. They have a roadmap for cost reduction of 10% to 15% with no changes in product quality.
Sharks worried about the Price factor and Brutal competition as they had to compete with various Multimillion-dollar companies that made similar voice and personal assistance products.
All Sharks backed themselves for the reason of competition. The owners explain that they projected a sale of 16 Million dollars in revenue at the sale of $240,000 Codie’s. They want to start a “Direct Import Program” and get POS then directly from these retailers and want to serve them as direct import selling directly to them.
Robert Herjevic liked their answer and changed her mind and offered a deal to him at $500,000 but for 25% of equity. Dayu countered them to settle it on 15%. Robert rejected her counter and finally, Dayu accepted the deal. Here is how they get a deal on Shark Tank.
What happened to Codi after Shark Tank
After the show it received a massive response from customers throughout the country, who actually wanted to buy Codi, several Codi’s were sold immediately after the show. This is probably one of the most effective reasons why the company increased the price of Codi Robot from $99.99 to $124.99 sometime after the episode.
As of January 2021, the company is still in business with an estimated annual revenue of $1 million. The Codi was awarded as one of the best “Health Line Parents Best of 2021” on Jan 21. Currently, they are selling Codi’s and various skins of It through their website and Amazon.
Competitors of Codi
Codi is one of the very new AI-based toys in the toy industry but they have all similarities to AI-based virtual assistance therefore it has to face many competitors in the market. Some of the following competitors of Codi are:-
Amazon’s Alexa and Google’s Voice Assistance although it is as not in direct competition, is kind of similar to them.
Net Worth of Codi:
They are valued at $2 Million at the time of locking the deal with Robert Hearjevic. Their sales and revenue increased up to 5 times from the show. The revenue of the company is estimated at $1 Million as of the end of January 21.
Did Codi is Still in Business?
Codi is still in business and selling its products from various retail chains along with E-commerce and her own website.
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What is Codi?
Codi was introduced as a fun and “educational storytelling robot” built on modern smart home technology by 3 young entrepreneurs Dayu Yang, Chris Oslebo, and William Mock.
Who founded Codi?
Codi was founded by 3 young entrepreneurs Dayu Yang, Chris Oslebo, and William Mock. Three friends came to invent a solution for children to make distance with their Mobile phones and Tablets.