Did you ever dream of becoming an engineer when you’ll grow up? Well, now you can. With the interactive set of Roominate, you can introduce your little ones to the idea of STEM (Science, Technology, Engineering, and Mathematics).
The duo of the company namely Alice Brooks and Bettina Chen shared the common thought of love for toys and started Roominate.
Roominate is an educational toy designed to encourage young girls to pursue interests in STEM (Science, Technology, Engineering, and Mathematics) fields. It allows children to build and wire their own dollhouses, promoting engineering and circuitry skills.
Roominate – A step to become engineers of tomorrow
Roominate at a glance:
| PRODUCT | Electrically wired construction kit for girls |
| ENTREPRENEUR | Alice Brooks and Bettina Chen |
| Investment PITCH | $500,000 For 5% |
| DEAL | $500,000 for 5% |
| SHARK | Mark Cuban and Lori Greiner |
| STATUS | In Business |
Index:
Roominate Founders Story:
The duo loved the idea of engineering and building things from a young age and it was when the two met at Stanford university that they realized this. They saw that there were very less girls who majored in STEM and wanted to change that. Alice hopes that when she started the company, she needed better mentor guidance and how to run a company.
After having to start the company, Alice manages a majority of the toy company and does three main things during her day: Create Facebook ads for the company, create and build new toys, and test the toys with kids in elementary school and homes to find out the feedback face to face. She loves her work and enjoys creating new models and toys the most.
Did Roominate get a deal on Shark Tank?
The engineering duo had a calm and poise entrance where they first explained who the product was for and then demonstrated the products to the sharks.
They sought an investment of $500,000 for 5%. They talked of the product being a construction kit specially designed for girls above the age of 6. This intrigued Barbara. This kit comes with an electrically wired circuit that helps light up the whole construction and makes things like merry go rounds elevators, and fans work.
They showed the sharks different models made by their Roominators (kids who play with Roominate) created for them and how to use it. Then they talked about sales, they said that they had projected $5 million in the three years from their starting.
Next came the distribution, they saw themselves to be well laid out in retail, spreading through stores like Toys r us and Walmart. Kevin was the first to go out based on the fact that he could invest when he didn’t have definite sales. Next was Barbara, she thought the product was not loyal to its customer, therefore she was out.
Mark made an offer of $500,000 for 5%, which according to Robert was the exact offer asked by the duo therefore he was out. Finally, Lori agreed with the offers made by Mark and both the sharks were in for the deal. The two owners agreed to the deal.
What Happened to Roominate after Shark Tank?
After the episode was aired on shark tank episode 6, there was exponential growth. They started their retail journey in Toys r us and Walmart. With Toy r us having products in all of their 596 stores and Walmart introducing Roominate to young innovators with demonstration days and sales soaring across 800 stores.
Since then, Roominate has expanded its product line and has been featured in major retailers like Target and Amazon. The company has also been recognized with numerous awards and has been featured in major publications.
The duo next revamped their Headquarters in Wisconsin and now has 8 to 10 employees under them for this great cause. Let’s see how the product line has changed after their Shark Tank appearance.
Product before:
Roominate was an electrically wired construction kit where kids could unleash their creativity and make models of any kind.
While playing they develop the following skills :
- Practical knowledge
- A fine understanding of motor skills
- Self-esteem and confidence
- Understanding of Electrical Circuits
The revolutionized product:
The same electrical circuits are clubbed with the knowledge of apps and technology. Where the working of the motor and light can be done at the palm of your hands, with the free Roominate App.
Roominate Net worth and revenue:
The company was worth a valuation of $6 million in 2012 but is currently at a valuation of $10 million up to date.
Also, revenues have peaked at $ 5 million in 2021.
Roominate Competitor’s analysis:
| NAME | CEO/CO-FOUNDER | EMPLOYEES | REVENUES |
| Leap frog | John Barbour | 524 | 222.9 M |
| Magformers | Chris Tidwell | 84 | 4.7 M |
| MindWare | Jonathan Staruck | 40 | 6 M |
| Hasbro | Rich Stoddart | 5,800 | 6.1 B |
| Fat brain toys | Mark Carson | 70 | 40 M |
| Fisher price | Ynon Kreiz | 1,000 | 1.6 B |
| Jakks | Stephen G Berman | 626 | 561.4 M |
| Manhattan toy | Nora O’leary | 81 | 16.4 M |
Interesting facts about Roominate:
- The newest product is known as r-power.
- At the end of 2015, Roominate was acquired by play monster.
- Alice brooks in 2015 were one of the names in the Forbes 30 under 30 lists.
- Alice brooks were invited to a meeting in the White House about “Breaking stereotypes in media and toys”
- She was also asked to be a member of the women’s summit in 2016 to talk about the role of culture in educating and empowering tomorrow’s leaders”.
Is Roominate profitable?
Yes, surely the company is profitable and lauded as well. Having three awards on their belt in a span of three years is remarkable. The co-founder Alice Brooks is seen at many national and internal conferences and summits. The product is known to be educating and empower all.
Is Roominate still in business?
Being at the tip of the iceberg, the inspiration of these two engineering Master’s Graduates has just begun. They have a long way to grow and that doesn’t stop them there.
They hope to keep inventing and keep educating the next generation with their creative dolls and toys under the research phase currently. They hope to expand in stores like Walmart!!
Let’s see what they engineer!!
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What is Roominate?
Roominate is an educational toy designed to encourage young girls to pursue interests in STEM (Science, Technology, Engineering, and Mathematics) fields. It allows children to build and wire their own dollhouses, promoting engineering and circuitry skills.
Who founded Roominate?
The duo of the company namely Alice Brooks and Bettina Chen shared the common thought of love for toys and started Roominate.