|SEASON 2 EPISODE 2|
|Pitch||Online toy rental service – netflix for toys|
|Asked For||$100,000 for 10%|
|Deal||$200,000 for 35%|
|Shark||Mark Cuban and Kevin O’Leary|
|Status||OUT OF BUSINESS|
What is Toygaroo?
Toygaroo was a short-lived company that came to fame due to being featured on season two of ABC’s Shark Tank. Billed as “The Netflix of Toys”, Toygaroo was created as a subscription service where parents paid a monthly fee in exchange for a box of toys that would be shipped to their home.
Who Founded Toygaroo?
Toygaroo was founded by Nikki Pope with Hratch Hutch Postik and Rony Mirzaians. Pope was the face of the company, and pitched their business on the show not long after moving to Los Angeles from Houston. She’d worked previously in marketing, and after Toygaroo’s collapse, she returned to work as a marketer for companies based in Texas.
Prior to her appearance on Shark Tank, Pope observed a few things when visiting her siblings—all eleven of them. As she watched her 13 nieces and nephews (all under age 8 at the time), she quickly noticed that there was quite a large amount of toys always present.
It also seemed that many of the toys enjoyed a brief amount of time as the center of their owner’s attention before boredom set in. She pondered if there was a better way to de-clutter the homes of families by using a rental system instead of wasting money on new toys that would be either outgrown or just forgotten. With the help of her husband and other marketers, Pope worked for two years prior to Toygaroo’s launch to save $50,000 to begin their entrepreneurial venture.