The Pillar Learning Codi Robot appeared on Shark Tank on December 11, 2020. Founders William Mock, Dayu Yang, Chris Oslebo left the tank with $500,000 for 25% equity deal from Robert Herjavec after they convinced him to come back in. Here’s a quick recap of everything that happened during the Codi Robot pitch as well as news on a Pillar Learning update after Shark Tank.
Pillar Learning Update After Shark Tank
- Entrepreneur: William Mock, Dayu Yang, Chris Oslebo
- Business: Educational robot for kids
- Ask: $500,000 for 10% equity
- Result: $500,000 for 25% equity
- Shark: Robert Herjavec
Pillar Learning appeared on Shark Tank Season 12 Episode 8 and introduced the sharks to its Codi Robot and educational material for kids. Founders William Mock, Dayu Yang, Chris Oslebo explained that Codi aims to engage kids in educational stories, songs, and informational discussions. Paired with an app, the Codi Robot will allow parents to choose what content their kids interact with and will even allow them to talk to their kids through the robot.
With over 2,500 units sold, Pillar Learning is hoping to get the sharks help in expanding its online platform and working its way into brick and mortar stores. At the time of its pitch on Shark Tank, Pillar Learning was only monetized through the sale of the Codi Robot but is also planning to launch a paid version of the app with more content and options for parents. Despite the competitive niche, Pillar Learning is operating at a 10% profit margin.
However, this wasn’t enough to interest the sharks and all five of them went out. However, with a last-ditch effort, William, Dayu, and Chris were able to get Robert Herjavec to come back in and make an offer of $500,000 for 25% equity, which they accepted.
At the time of writing, we haven’t gotten an official Pillar Learning update after Shark Tank. However, it looks like the team is continuing to expand its line of content and is likely working to develop the paid version of the app that they mentioned on the show. When we get more news, we will be sure to let you know!
For updates on the other products featured in Season 12 Episode 8, check out the links below:
- Peekaboo Organics Vegetable Ice Cream Update
- Brake Free Technologies Update
- Click & Carry Hands-Free Carrier Update
For more Season 12 product updates, be sure to check out our Season 12 products page!