RokBlok is now on trend for classic song lovers who still own or have vinyl. Seriously technology is growing each day and products like RokBlok can get really handy for us.
RokBlok was founded in June 2015 by Logan Riley who is also the founder of Pink Donut. He came up with the idea or concept for RokBlok himself and he also invested himself in the development of RokBlok.
Logan used to serve as a creative leader at Apple in San Francisco but he left the company to create his own and soon after leaving Apple he started his company Pink Donut.
Logan might have thought that leaving Apple was not a good idea as some of his ideas or projects were a complete failure but after he built RokBlok it made an impact and many people loved the product.
He even took his idea to Kickstarter in 2016 and his campaign goal was to make $50,000 but people loved his idea so much that he got more than his goal, he got more than $350,000.
What is RokBlok?
RokBlok is a record player, which is unique from other players because of its small size and wireless feature with the ability to get connected via Bluetooth.
To play or listen to any records you have you just need to simply put RokBlok on top of your record or vinyl and after you pull the control lever it will start playing your record for you and it’s really easy and simple to use.
RokBlok is only 4×2 inches long and you can either play the music on its speaker or you can also connect any of your Bluetooth devices to RokBlok to play the music.
RokBlok Got Featured on Shark Tank
Just like I mentioned above Logan took his idea to Kickstarter in 2016 and in December of 2017 Logan also took RokBlok by Pink Donut on the popular television reality show where he presented RokBlok and offered to give a 15% stake if they would give him $300,000.
Robert Herjavec loved his idea so much that he offered to give $500,000 if he gives the full ownership of the company and he also added that he will give him a 6-figure salary for two years as well as the $5 royalty on every sale. As per the offer, Logan grabbed the opportunity and accepted the offer.
After RokBlok was featured on shark tank the order started booming with hundreds of people started ordering the product per day. But by now it has been found that Robert is not an investor of the company now.
Who owns RokBlok?
Logan Riley is the owner of RokBlok before starting his own company Riley used to work at Apple in San Francisco as creative lead later he quit his job so he could start his own company.
At first, he began researching and watching videos on Youtube from where his brain started to fill up with lots of ideas and he even tried to create an easy and unique record player. With many attempts and failures, he finally built a prototype of RokBlok which seems to work perfectly then he applied for a patent of this product.
As most people don’t want big body devices, he wanted to make something very simple, handy, and easy to use for playing vinyl, and keeping all that in mind he came up with RokBlok which can be taken anywhere. It did have a good quality sound with a wireless function that can be connected with any device via Bluetooth.
RokBlok is from Logan’s idea company Pink Donut where they build handy products or things they love to share with people. His other ideas seem to be failures but the idea of RokBlok was a massive hit.
|Episode No.||Season 9 Episode 13|
|Product Type||Wireless Portable Vinyl Player|
|Asked||$300,000 For 15%|
|Accepted||$500,000 For 100%|
From the beginning, RokBlok idea started to work smoothly and it was even ordered by hundreds of people per day but unluckily, after using the product many people started giving bad reviews about the product.
People started complaining about its poor sound quality and many of them even complained about the design which was not as promised. The first shipment was sent out in January and the product got many negative comments but the Pink Donut team took the reviews seriously and tries to fix the issues, as a result, they worked hard and regained the trust of people.
As per the reports, it is said that 5% of the product that was sent out in the first shipment of January were flawed. After finding that the production of the product was on hold for some time and later it was found that the products were flawed because the factory was overloaded with holiday orders and the injection mold had a defect.
After solving the problem they replaced the flawed products with a new one for the existing customers since then the product has got many good reviews.
RokBlok was also named Vinyl Killer because of its flaw and poor sound quality. People thought that this product will damage the record quickly so they named it Vinyl Killer. Youtuber Techmoan also did a review of RokBlok where he criticized the product for its poor sound quality.
Full Story of RokBlok Shark Tank
As mentioned above, in 2017 Logan went on shark tank and he requested $300,000 in exchange for a 15% stake. He explains what RokBlok is and how convenient it is to use also, he explained that how he can combine the speaker with the product and make it wire or cordless to play vinyl records.
He explains everything about the product including how we have to pull the lever to turn it on and simply by doing so the record will start to play, it can also be connected to every device via Bluetooth and the battery will last hours on a full charge and the size is 4×2 inches long and small.
Certainly, the sharks were pretty impressed with the idea and with his product so, they start asking him a bunch of questions regarding the product. He gives a pretty good answer to each of their questions.
Sharks were surely impressed by his idea and product but still, Mark Cuban and Lori Greiner had few doubts as they thought that the product will not gain much value as its market is small.
Barbara Corcoran was also not convinced and did not offer to help as he thought that the company was not up for large investment yet. Similarly, Kevin O’Leary also had the doubt with little trust so he offered a 50% stake for the $300,000.
But Robert Herjavec was totally impressed with the product and idea, he even placed a surprising propose and that was he will give not only $300,000 instead of full $500,000 but not for 15% or 50% instead he wanted full 100% and he even offered to give Logan six grand salary for two years contract including $5 royalty on each sale.
With these offers, Logan seems to be impressed and he accepted the offer, after the episode was aired there was a high demand for the product.
Who is the Investor of RokBlok?
Robert Herjavec is the investor of RokBlok who is a Canadian businessman, television personality, and investor.
He is the founder of The Herjavec Group the largest information technology and computer security company based in Canada. Robert is a really wealthy guy who has an estimated net worth of $200 million.
Herjavec also regularly appears on the television reality show Dragons’ Den and Shark Tank and from time to time he got featured on CBC Television.
He did invest for RokBlok but at the moment he is no longer the investor of the company but we can see that the company is doing pretty well now with an estimated value of $5 million.
Alternatives of RokBlok
|Analysis||RokBlok||Vertical||Sound Wagon||Fuse Vert|
|Founded By||Pink Donut||Easygoproducts||Tamco|
|Speakers||Any Bluetooth Speaker – Up to 30 feet away||Stereo Speakers||Speakers||Bluetooth Speaker|
|Flexibility||Bluetooth Delivery System(Patented)||None||None||Bluetooth and FM|
|Price||$89 ($10 Post Discount)||$129||$210||$179.99|
How much is RokBlok worth now?
After an episode of Shark Tank from where RokBlok was introduced there has been a high demand for the product as per the reports, RokBlok has now sold more than $959,000 worth of products, RokBlok was selling on average 100-200 units daily. It is estimated that RokBlok is currently worth more than $5 million.
Is RokBlok Profitable?
The manufacturing cost of this product is $23 but the team is selling it for around $99 which means it has a really great profit margin. Looking at its competitor’s others are selling Vinyl players for around $500 which is really high compared to RokBlok.
The product is doing pretty well as it is already out of stock even though there was the lockdown so we can expect that it will do even better in the future and people are already waiting for it, many have even booked or reserved it and the company is giving 10% discount as well as two limited-edition bonus gifts for all those who have booked the product.
For those who are waiting, it is said that the product may be available in the fall of 2021 and we can really see that the company fixed all the problems or issues of the product due to which it was receiving many negative comments and bad reviews about its sound quality and flaws but now it again has high demand and people are already booking the product.