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Shark Tank India has started to air its much-awaited season three, discovering new products of the same utility and introducing new products and start-ups into the market.
With a successful run of two seasons in India and multiple seasons in various other countries, it is touted to be one of the top-rated business reality TV shows of all time in every country.
Shark Tank is originally a franchise of the Japanese reality-business TV series Dragons’ Den. It is a format of the show where the budding entrepreneurs of a start-up pitch their ideas to the venture capitalists who are the panellists of the show, presenting with the hope of gaining investment from them.
While the program originated initially in 2001, as Tigers of Money in Japan, it was later on expanded to many franchises in multiple countries including Australia, India, France, Germany, Thailand, the USA and UK.
Shark Tank USA had new inventions, solutions, and innovative minds on the show with many entrepreneurs securing the investment they intended to gain, and many going home with a glint of satisfaction that they could present their ideas to the world, though they couldn’t convince the panellists.
This article covers one specific innovative invention- Rokblok, that brought back a vintage and classic way of listening to music to carrying it in our pockets in a handy way.
Read the article further to know more about this product, and whether it secured investment with the panellists, its founder and does it has any hopes in the market.
RokBlok Key Highlight
- Rokblok is a record-playing device that is portable anywhere and fits within your pocket. Logan Riley, came up with the idea of Rokblok, for his love for vinyl analogue music.
- Rokblok was offered for 300,000 dollars for a 15% share in his company. The sharks were impressed with his quick and steady response regarding the doubtful market for the product.
- The shark tank exposure proved to be a boon for Riley as Rokblok for sold out within hours after the episode had aired.
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What is RokBlok?
Rokblok is a record-playing device that is portable anywhere and fits within your pocket. People who love listening to music through vinyl (many would probably know it as a gramophone record) playing on a record player, know the setbacks of it.
It cannot be carried anywhere you go, as it occupies much space and proper maintenance. For such people who love high-quality music blasting in their rooms like a stereo, Rokblok comes to the rescue as an alternative to the original vinyl records.
Vinyl records, to be precise (for anyone who has no idea about it) is a flat disc object where songs and sounds are stored like that of cassettes, CDs, etc. with an inscribed, spiral groove.
Rokblok as mentioned earlier is a portable, rectangular wood object that stores analog music as opposed to digital music that messes the sound quality of originally recorded sounds.
By placing the Rokblok on a record and lifting the lever, the device can play the music as it spins the vinyl. It is also mentioned that the device could be placed on any surface to play with in-built features and songs, and can also be connected to Bluetooth to listen through speakers.
Who Is The Founder Of RokBlok?
Invented by Logan Riley, who runs a startup called Pink Donut, came up with the idea of Rokblok, for his love for vinyl analogue music. He stated that this portable device makes him carry his love for record music in his pockets and considering the increasing interests of GenZ and Millenials, this record playing device has a booming market.
This product made the panellists interested in Logan and his workings behind introducing such a device to the market. Being an avid- vinyl records collector and listener, Riley got this idea while thinking of sharing his collection with his friends but was unable to, as the player is not portable.
With a restricted space for living, he was unable to blast music through stereos and also play recorded music, when inviting friends to his place.
He surprised everyone by stating that he learnt electrical engineering by watching YouTube to create the initial product and is originally an audio engineer working on instruments and music.
| Idea | Small and wireless record player |
| Founder | Logan Riley |
| Ask | $500,000 For 15% at $2 million val |
| Deal | $500,000 for 100% |
RokBlok offering for the investor
Rokblok was offered for 300,000 dollars for a 15% share in his company. The sharks were impressed with his quick and steady response regarding the doubtful market for the product.
They were intrigued with the functionality, design and ease of the product and his creative invention of a record player. He offered to the investors and later on also stated that he has started production for the products very recently.
Did RokBlok get a deal on Shark Tank? With explanation
While two of the judges voiced their opinions regarding the risk about taking up the product for sale in the market and also about its quality compared to other devices, Logan mentioned that this vinyl player is more qualitative in terms of music players compared to Bluetooth players.
Lack of sales and understanding of a stable market, and with less production, many sharks found the investment to be risky.
Two sharks stated that while the invention is cool and a great collection for audiophiles, it is too early for such a risk and also stated that Logan may move on to another product sidetracking Rokblok.
While Kevin offers 350,000 dollars for 50% equity, Robert shocks the panellists and Logan by offering a proposal to buy 100% of the company, including the sale of a product, by offering $500,000.
He also adds that Riley would be provided with a two-year employment contract, a six-figure salary and an additional 5 dollars for every product sold as royalty. As a viewer, this came across as a dead-end deal as 100% was proposed to be bought, making you wonder if Riley would take such a risky option.
But in fact, Logan excitedly picked Robert’s offer much to the surprise of Kevin, and also commented on how happy he is to kickstart his bigger goals for Rokblok.
How RokBlok started & how it did?
Logan Riley wanted to share his vinyl collection and music with his friends but was unable to as the instrument to play the record is not portable. He came up with the idea to create a portable device that stores all of his music collection of vinyl analogue music that is dear to him so that he could share it with his friends anywhere.
Hailing from San Francisco, California, he owns a startup named Pink Donut, and works on Rokblok as the main product for the company. With a retail sales rate of 99 dollars and a cost of 23 dollars to make the product, the product is quite profitable and long-lasting.
Rokblok kickstarted in 2016 with total sales of $350,000 and $60000 after the initial entry into the market. He has not filed for the patent of the product but has filed for a utility patent that covers wireless transmission of audio from a stationery product.
He aims to get quality music to music lovers and a convenient listening period for vinyl lovers.
| Shark | Robert Herjavec |
| Current Status | In Business |
| Season | Season 4, Episode 5 |
| Website | Click here |
What happened to RokBlok Before Shark Tank?
Before Shark Tank, the product Rokblok- did not have a definite market or buyers with no delivery, resulting in less feedback from customers.
Before shark tank company fact and figure
Logan reveals that the Kickstart sales reached 350,000 dollars and also an additional sales of $60000 besides the Kickstarter. Logan also states that he contributed $2000 from his own money for production and the amount from Kickstarter sales were utilised for pre-production costs.
What happened to RokBlok after Shark Tank?
The shark tank exposure proved to be a boon for Riley as Rokblok for sold out within hours after the episode had aired. On getting the utility patent, he signed up partnership deals with retail outlets like Walmart and West Elm.
The sales skyrocketed from 13-15 sales per day to hundreds, making his dream come true. With the help of Robert and his team, Riley was able to work on Rokblok more for its quality and improve other features for the product for it to be saleable.
After or recent shark tank company fact and figure
During the episode, Kevin O’Leary raised concerns regarding the sound quality of played on Bluetooth speakers owing to noise compression. And seemingly this was the major issue of Rokblok, as multiple users started reviewing the product in social media citing issues with the audio quality.
With high demand and rising concerns, Riley offered an alternative option for fans to reserve Rokblok by providing 10% discount.
After listening to the feedback and comments from the users, Rokblok was upgraded to 1.5 version and 2.0 versions improving the audio quality, bluetooth facilities and others.
It is available for sale for 89.99 dollars compared to its original price of $99, which is available for sale in the company’s site. Rokblok is worth $5 million.
Are there any products like RokBlok in the market now?
There is a Crosley Revolution Portable Turntable, Audio Technica AT- LP60XBT, Numark PT01USB, ION Audio Air LP Vinyl Record Player for Rokblok alternatives.
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How much is RokBlok’s net worth?
After shark Tank valuation
Rokblok is stated to have a net worth of 5 million dollars after Shark Tank. Riley has started to work on his other inventions – navigation apo Lookfor, and gaming apps.
Before shark Tank valuation
Before the episode, with a Kickstarter fund , Logan was able to raise 350,000 dollars. Such raising of funds for his innovative ideas increased his confidence in presenting the idea and product to the sharks, raising $300000 for 15% equity.
FAQ About RokBlok
1. What is RokBlok?
Rokblok is a record-playing device that is portable anywhere and fits within your pocket.
2. Who is the founder of Rokblok ?
Invented by Logan Riley, who runs a startup called Pink Donut.
3. What happened to RokBlok after Shark Tank?
The shark tank exposure proved to be a boon for Riley as Rokblok for sold out within hours after the episode had aired.
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