Zoobean Net Worth: 2022| When Did Zoobean’s Success Continue after “Shark Tank?”
Zoobean is a company with a focus on education that encourages reading and writing. Libraries, schools, individual consumers, and commercial enterprises make up the four main markets for their wares.
Some examples of the products they offer are the library management software Beanstack for Libraries, the children’s reading logs and sticker books known as Badge Books, and the smart night light known as the Hourglass, which can be connected to an app and used to track the amount of time spent reading at home.
Who Created Zoobean and Why?
Felix Lloyd and his wife, Jordan Lloyd Bookey, are both educators, and they started ZooBean together.
At first, the business’ focus was on assembling collections of children’s books. ZooBean is a service that will send your child a new book every month based on their reading level and the genres they have expressed interest in.
While an undergraduate at Syracuse University, he majored in broadcasting and film; he later attended Washington University in St. Louis, where he earned a master’s degree in creative writing. Felix, his wife, and their two kids are currently based out of New York City.
Zoobean was founded by Jordan and Felix Lloyd to help get books into the hands of kids who don’t come from “typical” families.
Using a combination of human and algorithmic curation, Zoobean generates reading lists specifically tailored to each user.
The library also provides a book-of-the-month club in which members receive a book about a family that reflects their own, such as an interracial family. SmartList, a Web-based suggestion engine, was created by Jordan and Felix and is still in use today.
Beanstack is a new app developed by the team to help patrons get more tailored book recommendations. They have made something that readers of any age can enjoy for its depth and individuality.
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ZooBear Ahead of Shark Tank
The founders of ZooBean, brothers Felix and Jordan Lloyd, have been offered $250,000 in exchange for 15 percent of the company on the reality show Shark Tank.
The beginning of Jordan and Colin’s story is straightforward: they met as teachers, fell in love, got married, and started a family. However, it wasn’t until they became parents that they realised how important it was to instil a love of reading in their own children.
They struggled to find books for children that spoke to their child’s interests or were written for children from families “like theirs.” Felix and Jordan, who are of different races, conceptualised ZooBean.
ZooBean provides a personalised children’s book subscription service and a resource for finding new books for kids.
How Effective Was ZooBean’s Presentation on Shark Tank?
Felix and Jordan went on Shark Tank to ask for $250,000 in exchange for 15% of their company, ZooBean.
To What Extent Did Shark Tank Affect Zoobean’s Future?
Beanstack is the new iteration of ZooBean, and it serves as a “platform for reading programmes and book recommendations for any institution, specifically libraries and schools.”
In comparison to earlier iterations of the game, ZooBean, or rather Beanstack, seems best suited for larger groups of young children rather than individual members of the family.
Market participants have made a far more astute assessment than we did. Included in the programme are both electronic books and tools for evaluating the program’s goal of helping young people learn from and apply the knowledge they gain from reading.
The transition from ZooBean to BeanStack shows an increased emphasis on encouraging children to read and, ostensibly, teaching them memory techniques through repetition.
As an added incentive, the BeanStack Badge system allows avid readers to earn digital pins that represent their reading achievements.
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A Message From the ZooBean Shark Tank
Seven years after its initial appearance on “Shark Tank,” Zoobean is a successful business serving more than 1,900 library systems (representing 10,000 library branches), 1,200 schools, and three million readers.
While enterprise revenue generation is now a key component of the ZooBean business model, the company’s original mission—to foster a lifelong love of reading in children—remains unchanged.
That’s why kids regularly come up with novel, ingenious ways to make an impact, like adapting the challenge model to boost reading fundraisers so they can give back to their school by buying books.
Watch my friends from Zoobean on Shark Tank tonight! Curate apps & books for each child. Try for *free* at http://t.co/3X6H3hKiHy. #Zoobean
— Mitch Kapor (@mkapor) April 18, 2014
Many ideas like this have emerged as a direct result of this. Companies are using Beanstack to organise team-building exercises based on reading the same book at the same time. Zoobean is also considering expanding internationally into new markets with its recently launched Beanstack product.
One thing stands out when Felix and Jordan think back over their entire journey. Zoobean credits the opportunity provided by Shark Tank as the catalyst for the company’s meteoric rise to prominence, and the business is “forever thankful to be a member of the Shark Tank family.” Twitter
Does ZooBean Still Function As A Business?
As of June 2022, Zoobean generates over $5 million in annual revenue.
Since the first season, ZooBean has undergone a great deal of change. Previously known as ZooBean, the new software Beanstack was “built from the ground up with libraries in mind.”
The service informs the public of upcoming events in their area and promotes the books of 140 libraries in the United States and Canada. Beanstack was first implemented in the Dallas Public Library system thanks to Cuban’s efforts.
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As seen on Shark Tank, ZooBean had a valuation of $1.6 million.
As of the year 2022, ZooBean has amassed a net worth of roughly $5 million.
Frequently Asked Questions
What Company Controls Zoobean?
The co-founders, Jordan and Felix, pitch their idea for a subscription box service for curated children’s book selections on the television show “Shark Tank” on April 18, 2014, and receive a $250,000 investment from businessman and investor Mark Cuban.
In What Year Did Beanstack First Appear?
Our story. Beanstack, Zoobean’s flagship service, is software that helps libraries and schools implement reading programmes by making it simple to keep tabs on individual readers’ progress and encourage them to keep reading. The company was started in 2013 by the former “Teacher of the Year” in Washington, DC, and Google’s head of K-12 education.
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