Sparketh -Online Art Education On Shark Tank Season 13
Featured on Shark Tank
Sparketh -Online Art Education On Shark Tank
Sparketh is an innovative online art education platform targeting kids and teens. Created by entrepreneurs Dwayne Walker and Tim Samuel, the platform provides a wide array of engaging art courses, taught by professional artists. Sparketh aims to foster creativity and artistic skills in young learners through interactive and fun learning experiences. In the Shark Tank, Walker and Samuel struck a deal with Barbara Corcoran and Daniel Lubetzky for $100,000 in exchange for 20% equity, contingent on reaching a profit after six months. Summary:
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- Company Name: Sparketh
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- Founders: Dwayne Walker, Tim Samuel
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- Founded: 2016
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- Product: Online art education platform for kids and teens
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- Asked For: $100,000 for 8% equity
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- Final Deal: $100,000 for 20% equity with Barbara Corcoran and Daniel Lubetzky, contingent on profit after six months
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- Season/Episode (Shark Tank USA): Season 13, Episode 3
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- Business Status: In Business
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- Headquarters: Atlanta, Georgia, USA
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- Lifetime Worth (Sales): Estimated $2M
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- Investors: Barbara Corcoran, Daniel Lubetzky
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- Watch On: Amazon Prime
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Description
Sparketh -Online Art Education On Shark Tank
Sparketh’s appearance on Shark Tank helped the company secure a valuable investment and partnership, which has contributed to its ongoing growth and success in the online art education market.
Here is a summary of Sparketh’s appearance on Shark Tank:
Sparketh on Shark Tank
- Entrepreneurs: Dwayne Walker and Tim Samuel
- Business: Online art education platform for kids and teens
- Ask: $100,000 for 8% equity
- Pitch: Walker and Samuel pitched Sparketh, their online library of art and baking classes taught by mentors. They demonstrated the platform by having the Sharks paint a feather with a toothbrush.
- Shark Reactions: The Sharks were impressed by the concept but had concerns about the company’s financials. It was breaking even, with high customer acquisition costs and low customer retention.
- Deal Made: After negotiations, Barbara Corcoran and guest Shark Daniel Lubetzky offered $100,000 for 20% equity, contingent on the company becoming profitable within 6 months.
Sparketh After Shark Tank
- Sales Growth: Sparketh reported strong sales growth after the Shark Tank episode, reaching an estimated $2 million in annual revenue by 2023.
- Ongoing Partnership: The deal with Barbara Corcoran and Daniel Lubetzky appears to have closed, and the investors have provided mentorship to help the company become profitable.
- Current Status: As of 2024, Sparketh remains in business, continuing to offer its online art education platform for kids and teens.
