Surprise Ride gets kids excited about learning in a surprise box delivered to them every month. Each delivery has a new theme that is targeted to them every month.
Surprise Ride is a kids educational subscription service
Surprise Ride is a subscription service of well thought out educational material. They charge $29.99 monthly. The company is beginning to ship just four months before coming into the Shark Tank. They offer six and twelve-month subscriptions.
Sales so far they have shipped 800 boxes and had 220 subscribers. Customer Aquisition is $5.30, and the customer value is $130.
Cost of each box brings them 50% margin using a fulfillment center in Florida, and the business is set up to scale. They can anticipate the demand, and they maintain low inventory.
Irwin Jacobs invested $100,000 in the form of a convertible note. He is a big fan of the mission of education.
They are partnering with an organization that will put them in front of five to ten million mothers.
Company: Surprise Ride
Entrepreneur: Donna Khalife and Rosy Khalife
From: Washington D.C.
Ask: $110,000 for 10% equity
Companies in this episode: DoorBot, SLAWSA, Magic Moments
Season: Season 5 Episode 509
Sharks: Mark Cuban, Daymond John, Kevin O'Leary, Lori Greiner, Robert Herjavec
First Aired: 11/15/2013
Deal: They had a deal, but they did not close it. Robert is out.
What do the Shark Tank Investors say about Surprise Ride
Mark Cuban goes out because she answers their core competency is execution.
Daymond John is a straightforward guy. To value your company at one million dollars takes him out.
Kevin O'Leary is tempted, but they are in proof of concept so, he is out.
Lori Greiner thinks the gift box is one of the finest and best made for kids she knows. Lori believes that they can do this on their own, she is out.
Robert Herjavec thinks they are underestimating the hustle to get the business off the ground, but he says they will figure it out. He is offering $110,000 at 25% equity. Robert goes out because they did not take the offer. They ask him to come back in, but he's not doing it. They are out.
Surprise Ride after Shark Tank
Surprise Ride got their story on Beyond the Tank, giving them even more exposure. But, Donna and Rosy ended up getting the Surprise when Kevin O'Leary decided to invest in their company three years after their Shark Tank pitch.
With over a million dollars in sales, O'Leary loved their progress and is driving them to over ten million dollars in sales.