In Shark Tank episode 1212, Samantha John presents the Sharks to Hopscotch, her coding program for youngsters. As a senior in college, John discovered coding and fell in love with it. She sought a way to educate youngsters on how to code when she became a mom, so she made the app. She and her team created an engaging, interactive platform for kids aged 6 to 16.
The way it works is that kids create games and artwork using simple coding. They are guided every step of the way via the app. They can share their game with other youngsters on the platform once they’ve finished coding. The shared games are also open to everybody.
The app is free for the first week, after which it costs $9.99 per month or $80 per year. Although there is a free edition, it does not have premium editing features or the option to submit your own artwork.
To provide a programming environment that allows students to explore profound ideas while making practical software,” the company’s purpose states. They’re on the lookout for a Shark to help them teach kids how to code.
Recap of The Hopscotch Shark Tank
Samantha joins with a bid of $400,000 for 4% of her company, equating to a $10 million valuation. She claims she needs a Shark’s aid to change the way she makes money from the app. She currently operates on a subscription basis.
Instead, she wants the app to be free and for game downloads to be charged. The Sharks are concerned about that concept because the company is currently barely profitable. These concerns stem from the fact that there will be more users and potentially less revenue.
Mark claims to be familiar with the app because his children do. He also admires the company’s goal of educating children about technology literacy. Mark makes an offer of $400,000 for a 16 percent stake. They settle on a deal for $550,000 for 11% — a $5 million valuation – after some back-and-forth talks.
Update on Shark Tank Hopscotch
- Samantha John is an entrepreneur.
- Business: A coding tool for kids that allows them to make games.
- Request: $400,000 for a 4% stock stake.
- Result: $550,000 for an 11% equity stake.
- Mark Cuban is the shark.
During Shark Tank Season 12, Samantha John, the founder of the kid’s coding program Hopscotch, showed her revolutionary software to the sharks. Samantha stated that her company had been in operation since 2012 and had 400,000 monthly users at its peak. Hopscotch essentially teaches children to code and allows them to create and share their own games with other people.
Mark Cuban, ironically, told Samantha during the app demo that he had pleasant recollections of using the app with his children to create games while they were in school.
Hopscotch’s monthly customers have decreased to 200,000 since its peak in 2015, thanks to the implementation of a subscription model. The app costs $8 per month or $80 per year at the time of the pitch.
Samantha hopes to eliminate the subscription service model in the future and replace it with an in-app currency. This will make the software open to everyone, allow kids to earn money for their games, and provide Hopscotch with a more sustainable economic model.
Mark made Samantha a $400,000 offer for 16 percent equity based on his excellent experience with the app. Hopscotch signed a deal with Mark Cuban for $550,000 in exchange for 11% stock after various haggling.
In terms of a Hopscotch update, the kid’s coding program appears to be in good shape and is still accessible for download on Apple devices. Hopscotch is still employing its subscription-based business strategy at the time of writing, but it does provide a free option as well. Samantha is most likely collaborating with Mark Cuban to develop a more sustainable economic plan for the company.
We’ll let you know if we hear anything else about a Hopscotch update! Meanwhile, keep an eye out for updates on the other companies mentioned in Episode 15:
Samantha John is Hopscotch’s co-founder and CEO, and she was the one that represented the company on Shark Tank. She was also the leader of the Hopscotch Technologies section and graduated from Columbia University in New York with a degree in Applied Mathematics.
Samantha John is from Brooklyn, New York, and she has been in multiple BBC 30 under 30 lists, Business Insider, Elle Magazine, and other publications. Hopscotch was founded by her ten years ago, and her goal is to inspire young coders and empower them to study on their own.
If we take a look at her personal life, she was born in 1985 and worked as a developer at Pivotal Labs before coming up with the idea for Hopscotch.
She has been working on a number of projects in addition to Hopscotch. Jocelyn Leavitt was her Columbia University fellow, and she began her career as a co-founder of Hopscotch with Samantha. Daisy The Dinosaur was her debut app, which she created in 2012.
Estimated Net Worth
Consider Hopscotch’s net worth before and after his appearance on Shark Tank. Samantha John requested $400,000 for a 4% stake in Hopscotch on Shark Tank, implying a $10 million valuation.
The actual deal, however, was for $550,000 at an interest rate of 11%. As a result, Hopscotch had a net worth of $5.5 million before appearing on Shark Tank.
Hopscotch’s Business Model
Let’s take a look at how Hopscotch operates and learn a little more about its business plan.
As previously stated, Hopscotch’s business model is to make coding simple and enjoyable for young minds. The concept has been turned into a coding software that teaches children and teenagers how to code and create games, art, videos, and much more.
Drag-and-drop functionality is available in the coding software. Users can use the program to make games, art, tales, and graphic content, among other things. The main purpose of the app is to improve coding abilities and app development.
Users of Android and web browsers will have to wait for compatible versions before they can excel at coding and app development.
To Know More Latest Updates You Can Visit Our Website: https://browsedesk.com/