Toymail was proposed by Gauri Nanda in Shark Tank Season 8. She was looking for a $250,000 investment with a 2.5 percent equity stake. Gauri was able to attract Lori Greiner and Chris Sacca after winning financing from Verizon and Amazon. In our pitch recap and Toymail update, you can learn more about the plush talkie. Want to talk to your kid without a phone? Talkies are Wi-Fi plushies that let kids voice chat with approved contacts.
Sharks Tank Update on Toymail:
Gauri Nanda, entrepreneur
Children’s plush toy with two-way communication
$250,000 for a 2.5 percent stock stake
Result: $600,000 for a 5% stock stake.
Chris Sacca and Lori Greiner, sharks
Before Shark Tank, Toymail
The audition tape kicked off the Toymail presentation. Gauri Nanda gave her name and that she was from New York City. She stated that she was a first-generation American, born to Indian immigrants who arrived in the United States with only $10 in their wallets. Gauri’s parents bought a struggling newspaper and turned it around into a profitable business, which they sold in 2007. Gauri went to MIT for graduate school and made an alarm clock for a class project that went viral.
The movie cut to Gauri working at a desk, with various electronic components exposed in front of her. She was working on a fresh concept. She expressed her desire to make her new initiative more significant to the camera. The entrepreneur is now sitting in front of a row of children, clutching a toy. She explained to the kids that they were new product testers. Gauri stated she’d created a viral product ten years ago and wasn’t convinced she could do it again. She aspired to be just like her parents and achieve great success. In the videos, he stated that he was attempting to build a totally new market and that getting a contract with the Sharks would be extremely tough.
Features Of Toymail :
Toymail is a plush toy with a built-in app. Friends, families, and children may communicate without using a phone by utilizing. Toymail already had numerous plush toys in its collection at the time of Gauri Nanda’s presentation, including the lovely Bitsy the Bat, Nunu the Unicorn, and Gory the Shark.
Gauri mentioned that she’d already secured financing from Amazon and Verizon during the presentation. They had each put in $1.6 million. However, she didn’t have as much equity to give the sharks because of this. Robert Herjavec pulled out of the agreement due to a lack of ownership. Even though he was impressed by the goods, Kevin O’Leary followed.
Shark visitor Chris Sacca had similar worries. Chris, unlike the others, offered $400,000 in exchange for a 5% stake. Lori Greiner advised Gauri to attempt to reach an agreement with her. Lori should accept Chris’s offer, Gauri said. Before she could respond, Chris offered Gauri $600,000 in exchange for a 5% stake, with Greiner joining him if she wanted.
Gauri accepted the offer right away and departed with two new partners. Now for some Toymail Talkie news.
What Happened to Toymail After Shark Tank?
Toymail was not successful, despite having an agreement with Chris and Lori. Toymail increased its product portfolio after appearing on Shark Tank. It even started selling subscriptions. They also included more applications, speech filters, and audio settings. Even though the latter models included Bluetooth and Amazon Alexa connectivity, they failed to sell. In November 2018, the firm was forced to file for bankruptcy.
The company is still out of business at the time of our Toymail update. Early in 2019, it stopped maintaining its social media profiles, and the website is no longer accessible.