ZooBean Net Worth 2020
The ZooBean business model has been a driving force in boosting literacy. Its online platform allows parents and educators to easily find quality resources, and helps groups of people read together. In addition, the company has also developed software for libraries, making it easy to create a personalized reading challenge for school-age children.
While there were only 85 users when the company appeared on “Shark Tank,” the founders and their team are now working to grow their customer base to over 600. As a result, the ZooBean net worth 2020 is estimated at $5 million. This is an increase of over $1 million from last year, when the company’s valuation was only $1.66 million.
ZooBean offers a subscription service, allowing readers to select their favorite books and track their progress. The program also offers a special reading log and a personalized book recommendation system. Parents and teachers can use the tool to help their children find the books that are right for their child’s age.
The ZooBean team includes a group of librarians, educators, and parents. The company was founded by former Washington D.C. teacher of the year, Felix Brandon Lloyd, and Jordan Llyod Bookey, who previously held a position as the head of K-12 education for Google.
In 2019, Amazon’s Alexa Fund invested in ZooBean. Additionally, the company received $500,000 from other investors. With these investments, the company has become more diversified and is now looking to international expansion.
The company has also expanded its challenge model to include support for team building and reading fundraisers. They are now licensed in over 10,000 schools and libraries nationwide. To date, ZooBean has helped over 140 libraries showcase their collections to patrons.
According to the company’s website, ZooBean is a “Pandora for children’s books.” Aside from the free book recommendations, the app offers other tools such as smart night lights, badge books, sticker books, and a variety of interactive reading activities.
Since appearing on “Shark Tank,” the company has secured several partnerships and additional funding. In addition, the team has added new personalization features to the ZooBean app. Its goal is to help kids develop a lifelong love of reading.
However, the value of the company is still being debated by Shark Tank contestants, and Mark Cuban is prepared to offer $250,000 for 30% of the shares. He believes the ZooBean service is a valuable investment and wants to know whether it can be expanded to other areas.
However, the company’s founders and executives have not revealed much about their Shark Tank appearance until recently. Although the episode aired in July, the two founders are not ready to talk about it yet. Until recently, they had not broken through their nondisclosure agreements. Now, they are eager to share their ideas and plans.
Currently, the co-founders of ZooBean are looking to raise another $250,000 for 20% of their shares. Moreover, they have participated in the NewME weekend competition. If they are able to secure an investment, it will give them the cash they need to market their business.
