Hopscotch Shark Tank Update

Hopscotch Shark Tank Update – What Has Been Happening?

Hopscotch, a coding app for kids, was featured on the television show “Shark Tank” in 2021. Hopscotch is an educational platform that enables children to learn to code and create interactive games, animations, and stories. The app includes a visual programming language and an easy-to-use interface that allows kids to practice their computational thinking skills while having fun.

Samantha John, the co-founder of Hopscotch, pitched their app to the panel of “sharks,” hoping to secure an investment. The “sharks” were impressed by the educational value and the potential market for the app, and ultimately, Mark Cuban agreed to invest $550,000 in exchange for an 11% stake in the company.

Since its appearance on “Shark Tank,” Hopscotch has continued to grow and expand its user base. The app has received positive reviews for its ability to engage children in coding and foster creativity.

Hopscotch Shark Tank Profile

Here is an overview of Hopscotch Technologies.

Company NameHopscotch
FounderSamantha John and Jocelyn Leavitt
Founded2012
ProductEducational app that teaches kids how to code
Shark Tank EpisodeSeason 12, Episode 15
Air Date26th February 2021
Asked for$400,000 for 4%
Final Deal$550,000 for 11%
SharkMark Cuban
Business StatusIn business
CostCharges $9.99 for every month and $80 for the year
WebsiteHopscotch 
HeadquartersBrooklyn, New York
Net worth$5 million
Lifetime worth$6.2 million
Annual revenue$3 million
Deal after shark tankClosed as of April 2023
Watch OnAmazon Prime
Competitorseducade.org, code.org, hourofcode.com

What Happened in the Hopscotch Shark Tank Episode?

During the Hopscotch Shark Tank episode aired on 26th February 2021, Samantha John came to Shark Tank to fund her EdTech startup. She asked for $400,000 for 4% equity. The pitch from Samantha in Shark Tank was very good; she was able to put her points well in front of the sharks.

Samantha explains how she launched her company in 2012 and talks about all the problems that led to the start of this startup. 

What Happened in the Hopscotch Shark Tank Episode

“Hopscotch’s core mission is to teach coding to children before they enter school or college. This is to help them recognize that programming significantly improves critical thinking skills. This coding platform aids in the mental development of children,” Samanth says.

She also states that the first week of Hopscotch’s launch has already garnered 20,000 downloads from Appstore.

Hopscotch’s current revenue model was through subscriptions. Samantha points out that by 2020, this platform will have 200k active users every month. 

When it was time for the sharks to offer their views, Daymond John said he was out because investing in such a business was too dangerous. Lori Greiner says she doesn’t know how to grow the business, so she is out. Kevin O’Leary and Barbara Corcoran also refused to invest in this business.

Mark says that since his children are fans of this app, he was willing to offer Samantha $400,000 for 16% equity. His reasoning for such a high equity ask is that there was still a lot of work to do. 

Samantha offers Mark $600k for 10% equity, but Mark refuses. The back and forth continues until both agree on a counteroffer of $550k for 11% equity.

What Happened To Hopscotch After Shark Tank?

Hopscotch’s appearance on Shark Tank garnered significant media coverage from respected publications. They include The New York Times and The Wall Street Journal, generating widespread interest in the app. The app has also received prestigious accolades, including Parent’s Choice and ADS All Digital School recognition.

Following the episode’s airing, Hopscotch witnessed a remarkable 500% download surge, predominantly driven by users opting for the app’s free version. Over the past two years, Samantha has been working on refining the business model by eliminating the subscription service and introducing an in-app currency.

What Happened To Hopscotch After Shark Tank

This proposed change aims to enhance accessibility for all users, allow children to earn money from their games, and establish a more sustainable framework for Hopscotch. As of the latest update regarding Hopscotch’s progress since then, the company continues to thrive as a coding app for kids, available for download on Apple devices.

Hopscotch has also had a profound effect on its users. For example, one person shared their experience of beginning computer science studies at MIT and crediting their success to Hopscotch skills. 

This is not an isolated case, as the app has a devoted following of users who frequently reach out to express their appreciation. This emphasizes its positive impact on people’s lives.

The company maintains a subscription-focused business model while also offering a free option. It offers two packages; $9.99 per month with a one-week free trial or $80 per year. There is also a free app version, but you cannot access premium features. 

Samantha is collaborating with Mark Cuban to develop a more sustainable and viable business model for the future success of Hopscotch. 

Hopscotch Net Worth

Based on reports, Hopscotch projected revenue of $3 million in 2021/ this revenue grew to $5 million in 2022, suggesting a potential profit increase of $2 million. Backed by Mark Cuban and including new team members since their appearance on Shark Tank, Hopscotch is progressing in the right direction. 

Hopscotch Net Worth

Hopscotch Sales Data 

Hopscotch’s current sales figures vary according to different estimates because it is a privately held company. However, most sources estimate that the company will earn $2.6 million by the end of 2023. 

Hopscotch earned $2.2 million in revenue in 2022, $1.9 million in 2021, and an incredible $1.7 million in 2020. It has also increased its workforce by hiring more people.

Is Hopscotch Profitable Now?

As mentioned earlier, following the airing of Hopscotch’s segment on shark tank, app downloads increased by 500%, indicating the show’s significant impact. Samantha John continues to work with Mark Cuban on Hopscotch’s growth and user base, describing their partnership as incredible.

From 2019 to now, Hopscotch has experienced significant growth alongside its user base. Samantha is determined to ensure that the app caters to its users’ evolving interests and educational needs.

Is Hopscotch Profitable Now

Samantha expressed her enthusiasm for guiding these users to the next level, enabling them to create marketable products that inspire other children to explore their potential. 

By showcasing the achievements of older users, Hopscotch aims to motivate younger kids and demonstrate the possibilities they can achieve by investing their passion and efforts into programming. This transition from learning a skill to building a career is immensely valuable and fulfilling.

If you’re interested in more Shark Tank updates, be sure to check out our articles on Gallant and Sparketh. Our Gallant Shark Tank update delves into the innovative personal safety device that caught the attention of the Sharks, similar to the journey of Hopscotch. Additionally, our Sparketh Shark Tank update explores the online platform that provides creative arts education for kids. Discover the inspiring stories of these entrepreneurs and their remarkable Shark Tank experiences.

Conclusion 

Hopscotch has proven to be a game-changing coding app for kids, allowing them to learn programming while fueling their creativity and imagination. Hopscotch has received heartfelt testimonials from grateful users who credit the app for their educational achievements and future aspirations. This has made its user base grow steadily over the years.

The exposure on “Shark Tank” rocketed Hopscotch’s success, significantly increasing downloads. This demonstrates the show’s impact and the app’s ability to reach a wider audience. 

Samantha John and Mark Cuban’s collaboration propels Hopscotch’s growth and reach, ensuring the company’s continued impact on children’s coding education.

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