SmartGurlz is a company that creates self-balancing robots and action dolls to encourage young girls to learn to code.
SmartGurlz teaches young girls how to code while also cognitively challenging them and encouraging imaginative, participatory play.
With four distinct self-balancing robots to choose from, these educational fashionistas appeal to a diverse range of nationalities and emerging personalities.
Girls can use compatible smartphones and tablets to program their Bluetooth-enabled Siggy Robots, controlling their motions with a smart joystick and sending them on obstacle courses throughout the house and even outside.
Girls can use MIT’s one-of-a-kind coding block program to create more than 100 unique code combinations for their dolls and then share their imaginative ideas with friends so they can participate in the same missions and adventures.
What is the Net Worth of SmartGurlz?
Smart Gurlz has a net worth of $200 million dollars.
SmartGurlz is a pioneer in equity technology, the LeapFrog for intelligently wired toys, with a revenue of $200 million and a market capitalization of $1 billion. American SmartGurlz Inc.
Who is the Founder of SmartGurlz?
Sharmi Albrechtsen is the creator of SmartGurlz, a line of self-balancing robots and action dolls designed to inspire girls to learn to code. In November 2017, she pitched her STEM business on Shark Tank.
Albrechtsen entered the Tank looking for $200,000 in exchange for 5% equity. She struck a deal with Daymond John: $200,000 for a 25% stake. (Initially, he offered $200k for 30% with a licensing direction.)
- Naomi Judd Net Worth 2022: What Was Her Net Worth At The Time Of Her Death?
- Amal Clooney Net Worth 2022: How Rich Is Lawyer & Court Clerk, Book Editor Amal Clooney?
- Corey Gamble Net Worth And Earning In 2022 And What Does Corey Gamble Do For Money?
- Roger Goodell Net Worth 2022: Income & Salary History, Early Life, Career, And More Details!
What Happened to SmartGurlz at the Shark Tank Pitch?
BUSINESS PITCH – fun and easy way for girls to learn how to code with dolls
ENTREPRENEUR/FOUNDER – Sharmi Albrechtsen
ASKED FOR – $200,000 for 5%
DEAL – $200,000 for 25%
SHARK – Daymond John
Sharmi made an appearance on Shark Tank season 9 episode 10 with two young girls seeking $200,000 in exchange for a 5% stake. This equals a $4 million valuation. She gives her pitch, tells her story, and displays her toys.
After her presentation, she brings the Sharks on stage to test them out.
Richard is the first to leave, and to his surprise, he is given a doll of himself. Sharmi, in fact, has dolls of all of the Sharks.
The two young ladies begin teaching Richard how to code after the Sharks have taken their places.
She revealed that the company has only been in business for less than six months, and she informs the sharks that they have already made $250,000 in sales.
Robert then inquires about the $250,000 in sales, which Sharmi explains was generated by a combination of wholesalers, stores, and Amazon.
When asked where the items are now available, she says they can be purchased on their website for $79.99.
When the sharks inquire about production costs, she responds that each item costs $18 to produce.
Daymond is enamored with it, but he makes a Sharky offer of $200,000 for 30% of the company. He wants to sell the toys on his own.
Because Robert believes that the toy industry is difficult, he is leaving.
Lori believes Daymond’s offer is the best one, and she is departing.
Richard is impressed by her efforts, but he tells her that he doesn’t believe he can contribute to the project and thus withdraws as well.
Finally, the focus shifts to Mark, the last shark standing. To her chagrin, he also backs out.
In response to Daymond’s offer, Sharmi asks if he will consider lowering it to $200,000 for a 20% stake, to which he says no.
Trying her luck again, she makes another counteroffer—$200,000 for 25%. Finally, the shark agrees that the effort was worthwhile.
He walks up to her and quickly embraces her after completing the transaction.
What Happened to SmartGurlz after the Shark Tank Pitch?
This company’s sales skyrocketed after the show aired, as they always do. Sharmi was unfazed by the fact that the transaction with Daymond never materialized.
In 2018, sales amounted to $1.2 million. She raised an additional $525,000 in 2019 through WeFunder.
SmartGurlz also announced a Letter of Intent (LOI) with Walmart to launch a new product line in the fall of 2019.
SmartGurlz was also named the IEEE Women in Engineering Leadership Conference’s Best Start-up.
In 2019, she also collaborated with Pitsco Education to develop Smart Buddies, an online coding curriculum for third through fifth-grade students.
Pitsco provides courses to schools across the United States. Pitsco was required to acquire $5.5 million in merchandise over a three-year period under the terms of the agreement.
Because of the Covid-19 pandemic in 2020, they made the curriculum available online, which will remain after the epidemic has passed.
The company is still doing well as of June 2021, and Sharmi expects to end the year with more than $20 million in revenue.