In addition to being a native of San Francisco, Logan Riley also studied communications at the College of Southern Nevada and SFSU. As an audio engineer, he worked as the Chief Audio Engineer for Studio 58 after he graduated from college. The electrical engineering course Riley followed was taught to him by watching videos on YouTube.
He worked at Apple for nine years as a Mac specialist and Creative Lead before joining the company. As a result of the Californian leaving the tech giant, he has been able to launch his inventions. He is the founder of Pink Donut, an idea company he founded in 2015.
In the early days of Logan’s business, he had several creative products that failed to cut. One of his first breakthrough products was the portable music player, which became a huge hit!
Serial inventors have noticed that there is a great need for a cheap way to revive vintage records, and the serial inventor recognized this need. The result of this was the development of the BLOK, which is a portable music player that spins around a disc to enhance the sound as it is amplified by its speaker.
The device he is using is wireless and compatible with Bluetooth technology. To develop a prototype for his product, Riley spent $2,000 from his savings to create one. In the end, he applied for a patent to protect the idea when the product was ready.
To raise additional funding for his project, Logan started a Kickstarter campaign in 2016, after determining he needed to raise an additional $350,000. Despite this, he felt that his startup required more capital and publicity to flourish.
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Rokblok Worth – Rokblok Net worth:
Taking our online research into account, Rokblok Net Worth of around $5 million by 2024, according to our analysis. Moreover, the company was able to successfully sell around 100-200 units a day after the show was aired after the show aired. There was a direct revenue increase of approximately $959,000 as a result of this.
It should be noted, however, that at the time of appearing on Shark Tank, the company was valued at around $350,000. We have found from our research online that it has reached millions of values, with a high margin of profit.
What happenedthe Shark Tank?
Rokblok appeared on Shark Tank asking for $300,000 for a 15% share of the company. The product was well received by all the Sharks after it was demonstrated to them. As Logan Riley said to the Sharks, “Rather than spinning the record, what if I made an apparatus that spins around the record instead of on top of it,”
Barbara Corcoran, on the other hand, decided to drop the deal first. It was too early for her to invest because she thought it was too early. There was a follow-up from Mark Cuban. Until your next child is born, everyone is your baby, that is what Mark Cuban said. There was an offer from Kevin O’Leary, however, for a 50% stake in the company for $300,000.
As a result of this Lori shared, that she feels like she is on the fence about the idea. There is, however, another deal offered by Robert Herjavec. In other words, it’s a sale of the company to him. On top of that, he offers a perpetual royalty of $5 per unit as an additional benefit. In addition to that, it came with a two-year employment contract with a salary of six figures. Logan accepts the deal without hesitation, so he does not hesitate to sign it.
Shark Tank Recap:
During the 9th season of Shark Tank, RokBlok made its pitch and was selected to participate in the show. In the hopes of obtaining an investment for his startup, Logan Riley presented his innovative product to the Sharks. It was a portable, wireless record player that Riley developed.
As part of Logan’s pitch, he demonstrated how RokBlok does its job by demonstrating how it works. Using a vinyl record as a platform, he placed the compact device on top and demonstrated how it moved along the grooves, reading the audio and playing it through its built-in speaker as it progressed along the grooves.
Additionally, he highlighted the fact that RokBlok has Bluetooth capabilities so that it can be connected to external speakers to improve the quality of sound.
A $300,000 investment was offered in exchange for a 15% stake in Logan’s company in exchange for a $300,000 investment. There were concerns expressed by the Sharks regarding the potential market size and the quality of the audio in RokBlok, but they were intrigued by the innovation and the design of RokBlok.
Additionally, they discussed the potential issue of wear and tear on vinyl records caused by this device, as well as the possibility of it competing with traditional turntables and other audio devices in the future.
Logan accepted Robert Herjavec’s offer of investing $500,000 for a 100% stake in RokBlok despite the concerns raised. Robert Herjavec saw the potential of RokBlok, however, and made the offer to Logan.
Since the Shark Tank appearance, RokBlok has experienced an increase in visibility and sales as a result of the exposure. In response to the concerns raised by the Sharks, the company has continued to develop and refine its product, addressing some concerns raised by the Sharks, and has released an updated version of the product called RokBlok V1.5, which incorporates a redesigned stylus, improved speaker system, and improved Bluetooth capabilities.
As a unique player in the vinyl market, RokBlok has established itself as one of the leading vendors in the industry and continues to offer a variety of vinyl records through its website as well as through its retail partners.
Who Are The
In addition to being an investor in RokBlok, Robert Herjavec is also an entrepreneur. To achieve its mission of identifying, training, and supporting entrepreneurs with a combined net worth of approximately $200 million, Herjavec Group Investments was founded.
It was decided to make these investments in peer-selected startups in the energy, financial services, and enterprise software sectors in Canada.
As a company, a major milestone for the company was the sale of its security software, “BRAK Systems”, for $100 million.
Is RokBlok Still
Indeed, RokBlok is still in business today. There has been an increase in exposure and sales for RokBlok following their appearance on Shark Tank in 2017, as is common for businesses that secure deals on television shows like Shark Tank.
With its unique design and innovative approach to the concept of playing vinyl records, the product has gained a lot of attention from vinyl enthusiasts, as well as people seeking a portable and convenient solution for playing vinyl records.
After the show, RokBlok has continued to develop and improve the product to meet the needs of the market. With the release of the newer version of RokBlok V1.5, the company has addressed some of the concerns raised by the Sharks about the sound quality and overall performance of the device.
There is a new stylus in the updated version, as well as an enhanced speaker system, as well as improved wireless functionality on this model.
Throughout its history, RokBlok has maintained an online presence through its website and social media channels, where it actively engages with its customers and shares updates about its products through these channels.
The device can be purchased on RokBlok’s website as well as through a variety of retailers, including Amazon, where it is available for purchase.
Since RokBlok’s Shark Tank appearance, the company has experienced significant growth and development. To become a unique player in the vinyl record market, the company has refined its product and addressed all the concerns that were raised during the show.
RokBlok Social Media:
With a keen interest in finance and a background in data analysis, Jackma is our go-to expert for dissecting the financial landscapes of notable figures. He’s the numbers whiz who meticulously compiles and verifies the financial data you’ll find on our platform.