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Tanoshi Computers’ Impressive Net Worth: Before and After Shark Tank
These days everything is about computers, and kids are always ahead of the curve. Even at a very young age, today’s children take to using a laptop like their elders once took to swimming or riding a bicycle.
This can be a mixed blessing – there is so much information out there on the world wide web just waiting to be discovered, and yet there is always the need to protect them from harmful content.
Tanoshi Computers has a net worth of 6.5 million USD. The company, founded by Greg Smith, Lisa Love, and Brad Johnston, specializes in producing affordable and age-appropriate computers for children aged 6 to 12.
What are Tanoshi Computers?
Enter Tanoshi Computers. “Tanoshi” is the Japanese word for fun, and these affordable, child-friendly designs are precisely that.
An educational tool aimed at children aged six to twelve which doubles as a tablet and a laptop, this product also provides games and enables communication whilst excluding any inappropriate material.
Entrepreneurs Greg Smith, Brad Johnson and Lisa Love came up with the idea of a stripped-down Android-based computer system with downloadable apps which provided young school-age children with everything they would need for work and play in the most affordable package possible.
They took their idea to Shark Tank seeking $500,000 in return for 8% equity in their company.
At a Glance
The pitch being made was for $500,000 in exchange for an 8% share in the company, which they valued at $6.25 million.
Whilst this wasn’t favorably received by the others, in the end Shark Daymond John was happy to give them the money they had asked for, albeit for a 20% stake in the enterprise.
In spite of his hard bargaining, the three inventors were delighted.
They were happy to accept his condition that they secure a licensing contract. No better offers, nor indeed other offers, were forthcoming and they agreed the deal with John in accordance with his terms.
Who are the Founders?
Tanoshi Computers was co-founded by Brad Johnson and Lisa Love, who are CEO and CMO of the company respectively.
Brad has over fifteen years’ experience as a product manager and has developed and launched dozens of products both domestically and worldwide.
Lisa has spent twenty years in brand and retail marketing. Greg Smith is Tanoshi’s quaintly named Director of Fun and has over twelve years’ experience in product testing, always ensuring the ultimate experience for users.
The three who made the original pitch are joined at the top table by Martha Diaz, a US Army veteran who is the company’s Director of Operations..
Did Tanoshi Computers Get a Deal on the Show?
The Sharks initially appeared reticent about the trio’s $6.25 million company valuation, not to mention the tight profit margins generally on offer in the electronics industry.
But when Daymond John said he’d give them the $500,000 they were asking for in return for a 20% stake they were ready to do business.
What Happened to the Entrepreneurs After the Show?
In 2020 Tanoshi launched a new, upgraded product which it called the Scholar. Unlike the earlier version, the Scholar is compatible with Zoom and Google Meet, as well as being more durable and including more features.
The model is priced at $299 – still considerably more affordable than “adult” products – and has become available for investment on Start Engine.
Due to the success of its products the Tanoshi company now has a higher valuation than at the time of its Shark Tank appearance, its current annual revenue being estimated at some $4 million.
About the Product
Essentially the Tanoshi is a 2-in-1 child-friendly computer, which configures either as a laptop or as a tablet. The idea is that it will provide a valuable educational resource for kids in the 6 to 12 age group at an affordable price, whilst also offering lots of play and fun.
Unnecessary “adult” programs have been stripped away so as to ensure cost-effectiveness, as well as of course to protect young users from accessing possible inappropriate material. Its basic design ensures that it is available as cheaply as possible, thus enabling widespread access.
Primarily it serves as a useful homework assistant but its inbuilt games means it gets plenty of use outside of school hours too.
The more recent Scholar version has added Zoom and Google Meet capability, as well as some enhanced features and greater durability. This meets a growing demand for interactivity in the field of education.
Priced at under $300, it still compares favorably with regular computer systems.
The company has its own YouTube channel and Instagram account through which information and updates are provided for the benefit of users and potential purchasers. Its products are available through a number of online stores, including Amazon.
Some Interesting Facts
Children using the Tanoshi laptop/tablet have the best of both worlds at their fingertips – a dynamic educational resource as well as a great source of play and entertainment.
The magic of its design is that it combines functionality with economy, thereby making it accessible to as many young people as possible. At $189, its retail price is far lower than that of standard computers.
Whilst both it and the more sophisticated Scholar model can be purchased from Tanoshi’s own company website, it is also now available from Amazon, Walmart and Adorama.
All products come with a full range of Android applications already installed, including Google Docs, Gmail, Google Sheets and Family Link (which enables concerned parents to monitor their child’s activities remotely). It also includes games such as Nancy Drew Codes & Clues and ScratchJr.
Tanoshi Inc. is based in Oakland, California.
