Shark Tank's mission is to identify and fund the most promising startups and existing businesses in the United States of America. That is exactly why Logan Riley brought his unique product, Rokblok, to the show and highlighted its various features. The aspiring entrepreneur observed that many music fans want a low-cost method of reviving their vintage albums. As a response, he created the BLOK, a compact music player that rotates a disc while amplifying the sound through its loudspeakers.

People who enjoy retro music purchase and keep ancient vinyl recordings. Unfortunately, because vinyl players are more expensive now, they aren't purchased as frequently. The idea for RokBlok sprang from nostalgia for vintage songs. The founder has introduced technology that, if vintage music records were stored carefully, you can recover and reuse them with the Rokblok.

RokBlok is a tiny portable record player that Logan Riley invented. Eventually, he secured a substantial deal on Shark Tank, but not in the way most of us would assume. The  Sharks were instantly intrigued by the RokBlok's creative and versatile design, which could play vinyl tracks and stream audio to Bluetooth headphones or speakers. Before we get into the Shark Tank Pitch and where the company is now, let's take a look at the product and its founder.

What is Rokblok?

RokBlok during its Shark Tank appearance was the lightest, most portable, wireless record player in the world. When you pull the lever, the RokBlok revolves and starts playing vinyl records. Audio can also be remotely streamed from the system to Bluetooth-enabled either speakers or headphones. In order to acquire a stronger sound, users can also link other Bluetooth devices from any place within its area.

The item is also quite small and light, measuring only 4 X 2 inches. Because of its versatility, you may listen to your favorite vinyl albums anywhere—in your room, lawn, camping spot, etc. Reportedly, a single unit can be purchased for a little under $100 and costs around $23 to manufacture. The product has the following features:

●     The battery is rechargeable and does not require a replacement

●     The product includes a pre-amplifier

●     Bluetooth connectivity.

●     Capable of reproducing 45 rpm and 33 1/3 recordings

●     Robust speaker integrated

●     The bamboo was used to construct the vinyl record making it sustainable.

●     The vinyl is shielded by the rubber wheel pattern.

Additionally, all LPs, EPs, and Bonus tracks are supported by this record player. Audiences can listen to their music from 30 feet away because it is designed for wireless connectivity and supports Bluetooth speakers and headphones. In addition, RokBlok's built-in speaker delivers an authentic vintage audio experience worldwide.

Now that we know a bit about the product, let's get into its founder, Logan Riley.

Rokblok's Founder: Logan Riley

Logan Riley, the company's founder, is from San Francisco, California. In order to specialize as an audio engineer, he completed communications courses at SFSU and the College of Southern Nevada. Through following YouTube tutorials, Riley eventually taught himself electrical engineering. He was a Mac expert and Creative Lead at Apple for roughly nine years. In order to have greater control over his career and innovations, he left the tech behemoth. The Californian native started Pink Donut, an idea company, in 2015. Logan had a number of early unsuccessful creative endeavors. After recognizing the tremendous demand for portable music players, he had his first big insight, Rokblok.

Riley borrowed $2,000 from his personal savings to build a product prototype. He requested a patent to guard his concept once the finished product was available. Logan launched a Kickstarter campaign in 2016 after realizing he needed additional funding for the movie and raised more than $350,000 for it. He still thought that in order to grow, his startup would require more funding and attention. Logan Riley went to Shark Tank in an effort to persuade the sharks to give him $300,000 in return for 15% of their investment in his business.

Rokblok Shark Tank Pitch

Logan Riley, the founder of the Pink Donut company, entered the room and introduced his venture to each shark. He was carrying his vinyl record as he walked. He started off by saying that he required $300,000 in investment to finance his company and that in exchange, he would give a 15% ownership stake. Riley poses a question to the Sharks about vinyl albums to launch the presentation. He highlighted and emphasized the historic use of the vinyl record as he finished his address, emphasizing its importance. Riley claimed there was a drawback to the conventional old product. The majority of conventional players lack Bluetooth speakers and are not portable.

All of the Sharks were impressed by his dramatic appearance and his modest music player, notably Robert Herjavec and Barbara Corcoran were immediately intrigued. Logan and the investors had a knowledgeable discourse. However, the majority of them voiced worries about the product's limited market and associated hazards.

However, Mark Cuban withdrew from talks because he was uncertain about the size of the market and disliked working with "perpetual investors." Barbara Corcoran agreed and stated that it was too soon to invest in RokBlok because there was no user feedback on the device. However, Kevin O'Leary remained intrigued and made an offer of $300,000 in exchange for 50% shares after they both pulled out. However, Robert Herjavec had faith in the product.

Herjavec presented a deal that was, as he acknowledged, "a little bit different." Herjavec would offer Riley $500,000 to sell RokBlok, and in exchange, Riley would receive a two-year, six-figure deal to continue working on RokBlok as well as other products as well as royalty payments from Herjavec. In the end, Logan made the decision to sell his entire business to Robert on Shark Tank in return for $500,000 and a royalty on each RokBlok item sold. Now that Logan Riley has sold his business, let's look at a RokBlok update to find out how the business is faring.

What Happened to Rokblok after Shark Tank?

Robert Herjavec initially agreed to purchase the business, but afterward changed his mind and pulled out. Due to similarities to Soundwagon, another long-established product, RokBlok has drawn unfavorable reviews. In 2018, the business saw a steady increase thanks to its appearance on Shark Tank, selling 100 to 200 pieces daily. With this, RokBlok generated income totaling more than $959,000.

The product doesn't sell well since it only appeals to a small market, despite the increase in sales. The product, which has an average profit margin, is promoted as a cheaper alternative to vintage vinyl players, which often cost $500. RokBlok costs $5 million and was available on Amazon or the company's website but currently seems to not have any stock. The founder, Logan Riley, still operates as the founder of the Pink Donut and seems content with the outcome of his Shark Tank appearance.

Have a business idea in mind? Here's how you too can get started

Step 1: 🛒Setup your Ecommerce Store

For the second half of 2022, retail eCommerce sales in the US alone totaled about $257 billion. This is an increase of 2.7% compared to the previous quarter. The most effective marketing tool you will ever have is your eCommerce website.

1. For instance, with effective SEO, your eCommerce marketplace will show up in the top SERP results. Additionally, social media platforms will give you a venue to interact with and gain your clients' confidence through ratings and feedback.
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Step 2: 💌 Start Sending Newsletters

Global email user numbers were projected to reach 4.3 billion in 2022. In 2025, this number is projected to increase to 4.6 billion, accounting for more than half of the projected global population.

Additionally, this Forbes article highlighted the impact email marketing had in the lives of successful Shark Tank contestants.

They found that email is the preferred medium for communication for 72 percent of buyers over any other platform. You can access an incredible customer base through email, and the best way to do it for your business is to invest in a solution that helps you create captivating content. If you’re looking for solutions to try out, these are among the best in the email marketing industry:

1) Awesome Send

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2) GetResponse

Get Response includes a good amount of tools that can boost your sales, like sales tracking, empty cart campaigns, and integrations with marketplaces like Magento and Shopify. GetResponse Free offers a free plan. But it has a monthly email send cap of 2500 newsletters for individuals with fewer than 500 subscribers. However, if you want to use capabilities like marketing automation or e-commerce features, things can get pricey very quickly.

Step 3: ⚡Grow your audience on social media

According to the most recent social media figures, there will be 4.59 billion social media users globally in 2022, and this number will only increase over the following several years (Statista, 2022). That currently represents around 57.5% of the world's population. Social media is the cornerstone of every successful marketing campaign in current times.

A wonderful example of an organization that has built its brand on the foundation of an effective social media approach is Grace & Lace from Shark Tank Season 5. When the entrepreneurs initially entered the tank, they asserted that their DTC site accounted for 90% of their more than $800k in revenues and that they hadn't yet spent a single penny on marketing. The business's socks profited from having over 34k incredibly engaged Facebook followers on top of being a popular pin on Pinterest.

Social media is about interacting and engaging; it's about establishing and sustaining relationships and using those interactions to promote your professional aspirations. And having genuine conversations is the sole strategy to do that.

You must be willing to pay attention, genuinely listen to what your community has to say and create consistent, high-quality content. So how can you do that with several competitors vying for the same success? Invest in a social media management platform!

1)    Awesome Social

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2)    Sprout Social

Sprout Social is another great social media management app, however it functions more like a suite of tools for managing social media. You can manage your social media scheduling, inbox, mentions, and analytics with this web and mobile application. Sprout Social is a strong, comprehensive solution with a tonne of capabilities for the sophisticated social media marketer. However, its $249 introductory price may not be ideal for small businesses or independent owners who cannot make full use of its complex capabilities.