Sparketh Shark Tank Update – Sparketh Net Worth

Dwayne Walker & Tim Samuel, two childhood best friends and co-founders from Atlanta, Georgia, are confident to spark the undiscovered creative side of the children and teenagers. So, they created an online platform titled Sparketh back in 2015.

It is an art learning platform for youngsters to boost their artistry skills by learning from art video lessons. But will they get the deal seal on the Shark Tank Season 13 Episode 3?

To find out, read the Sparketh Shark Tank Update till the end. Sparketh pitched their offer, and a deal was sealed with a twist. If you couldn’t watch the show, read this summary of Season 13, Episode 3, for all your insights.

Sparketh Net Worth 

The Sparketh net worth is expected to be $0.6 million. The company is currently running and has made progress. The online art academy has grown by 3 Art Instructors, an Art Director, and a Content Manager. The employee count is from 2 to 10, with headquarters in Atlanta, Georgia.

What Happened to Sparketh After Shark Tank?

spartketh shark tank deal

Sparketh sparked after the deals with Barbara and Daniel. The management encouraged various art competitions to boost creativity in kids. As of December 2022, over 10,000 kids and teenagers have taken various art classes and lecturers.

Did Sparketh get the deal on Shark Tank?

Yes, the deal was sealed with Barbara and Daniel. Both joined the agreement at $100,000 with 10% equity and profitable revenue in six months. The pitch was impressive, but some Sharks stepped out. Check the journey of two founders who almost lost the deal to get the deal done with two Sharks.

Shark(s) InvolvedOffer madeDemandAccepted?
Kevin O’ LearyOUTN/ANo
Mark CubanOUTN/ANo
Lori GreinerOUTN/ANo
Daniel Lubetzky & Barbara Corcoran$100,000 with 10% equity with profitable revenue in six monthsN/AYes

Sparketh Shark Tank Update

Spartketh and its services

spartketh services on shark tank

This art learning platform provides membership plans to a massive library of 1000 video lessons with interactive mentors from various fields. It helps build a virtual portfolio ready to share with their community. The parents can purchase a monthly subscription of $25 or a lifetime subscription of $160. They will receive two student accounts.

Spartketh Founder and their backstory

spartketh founder shark tank update

Dwayne and Tim built Sparketh while they studied at Kennesaw State University in Atlanta, Georgia. As they were broke, they worked on their website themselves. Dwayne had a graphic design job, so he did the graphics. Meanwhile, Tim worked on the website development tasks. He learns PHP, HTML, and CSS to create the MVP (Minimum Viable Product)of the website to work reliably.

They mutually work as Dwyane teaches, and Tim films them as he loves it. As Sparketh grew, both ended up dropping out of college. Mark inquired whether it was good enough. Tim explains his passion for entrepreneurship even after dropping out as an answer to Mark’s query. Then, he shared the unfortunate news that he was suffering from sickle cell disease. This reduces Tim’s life span to 30, and he is already 25 years old. He wishes to follow his entrepreneurship passion.

Mark was interested in how they ended up as best friends in childhood. So they revealed that they came to know each other through a common friend and they both love magic tricks. Tim then asked if Sharks were interested in seeing a magic trick, to which all Sharks agreed cheerfully. So they showed a magic trick by changing their black logo undershirt to white ones.

Pitch and initial presentation

Dwayne and Tim introduced their company and its core. They demand $100,000 with 8% equity. They wish to bring creative colors within kids to color their plan canvas. They explain that Sparketh has a huge library with various art and drawing skills videos from various artists.

These amazing artists educate kids and teens about various cores of artistry, such as drawing and coloring. Using a paid membership, children can not only learn their desired skills but also create a portfolio to share in their community. Barbara expressed her curiosity. Tim then lit a black sheet that slowly burned to an art masterpiece. Sharks were impressed.

Tim and Dwayne then spoke Sparketh’s slogan,” Our work of art? Bzzzzzzz[SPARKING SOUND]”. This act of performing their slogan cheered the Sharks. Dwayne then performed their small coloring activity of drawing a feather by asking Sharks to swipe away colors on their canvas using a toothbrush.

In the end, he asked the Sharks to tail down the stem with the back of the toothbrush. Kevin and Mark titled their portraits “Man’s Inhumanity to Man” and “Self Portrait”. Barbara called her drawing a tornado.

Barbara inquired questions regarding the target audience. Dwayne explained the homeschool expos were their spot to start, and they reached out to parents who were worried about their children’s creativity. Barbara then inquired how they approached the parents. Tim answered that they are tight-packed as they need to get familiar to them. As they were broken college students, they began with one expo. They jumpstart their business with $500. Tim and Dwayne told all their backstory.

Discussion on pitch and offer

After a short magic trick, Kevin asked about the revenues. Tim explained their business model as subscription-based. This clicked another query regarding the sustained number of users from last year. Tim replied that they don’t have a single consistent user yet. This shocked the Sharks, and then Barbara inquired about the sales from past years.

Sharks were interested in the pitch and began to learn more about the business growth. As Tim said last year, revenue was 100K. But then got suspicious and inquired that that was 100k their last year’s revenue. Tim explained that the business profited as 110k, then 75k, and then 300k starting from the first business year. They explained that they were hospitalized right before the website launch in 2018 as both were busy traveling and working.

Barbara lightened up the mood with a slight joke about vacation. Then, Mark inquired about the demand for money. Tim stated that this money would be used to upgrade to an improved version of the platform and add more content to it. Again, Mark inquired with a quick question about how much they are spending per month, to which Tim answered that they are even. It’s a no-profit loss balance. Hearing this, Kevin jumped into the discussion, whether it was a business or a hobby. Dwayne seemed confused as he answered that it was a business. This again triggered Kevin, and he insisted on knowing why the business wasn’t making any money. Tim replied that they weren’t profitable yet. Daniel questioned about the tracking plan for 2021, to which Tim answered that they have a target of 500K for the year.

Greiner begins to express her interest in boosting kids’ creativity, but she can’t agree to it. So she backed out. Kevin continued with the demand offer of $100,000 with an 8% equity of $1.25 million. He’s interested in knowing how they will return the demanded money. Tim implied that they wish to impact the world and the future of kids, to which Kevin announced he was out. Tim and Dwayned were a bit disappointed, but they stood firm. Mark begins his big question mark about their business. He inquired, “What makes this business different from its competitors?” The question was unanswerable. Due to this, Mark was left out.

Negotiation and final deal

Barbara admired the personality and business ideas of the Sparketh founders. And proposed an offer. She offered to give $100,000 with 20% equity in the business. To this proposal, Kevin exclaimed Ouch! Continued with a condition that they will gain profit after six months. This shocked both Tim and Dwayne. Barbara implied this condition to ensure the business made a profit, so her investment was worth it. Daniel expressed his genuine understanding of the struggling and new business journey. But at the same time, he also stated that he doubts Tim and Dwayne’s seriousness towards entrepreneurship. Barbara appreciated this comment.

Daniel and Barbara then had an open conversation on a contingency deal with 20% equity. Daniel expressed his interest in partnering with Barbara as an investor. To this, she openly agreed by confirming that he would take 10% of the equity. Daniel confirms his interest with 10% equity. Both Tim and Dwayne agreed firmly. Barbara then reconfirmed their decision on a contingency deal as an entrepreneur. Tim answered with gratitude that there would not be any better deal than a contingency deal. Daniel placed his offer, and Tim and Dwayne took the deal. Barbara, Daniel, Tim, and Dwayne then had a four-way hug. The deal got sealed.

Sparketh Products availability

Sparketh provides an online learning platform for kids and teenagers to enhance their artistry skills. From basic sketching to creating art portraits, all they can learn from this platform. Children or teenagers have a strong potential for creativity. But the educational system in today’s world doesn’t allow children to explore their creative side. So, Sparketh took the responsibility to unveil the hidden artists of the kids by providing them with a learning platform.

This platform can be used regardless of time and location. This platform allows its users to learn various art forms, drawing basics, and other artistry fields from specialists. Interactive artists demonstrate the best of their fields through their videos. Apart from these videos, short videos from 5 to 10 minutes are also available for a quick art lecture. This platform gives its users a virtual art portfolio to share in its global community. This way, parents ensure their children’s creativity with Sparketh.

What Went Wrong with Sparketh on Shark Tank?

Sharks withdraw themselves as they consider the business idea to be quite lame. Mark was concerned about his passion and business interests, so he left. His notes were genuine, as these art classes are available online. There are tons of creativity art classes on YouTube to help kids get their creativity on the page. So, at this point, the Shark Tank discussion got sour.

Thanks for Sharing 😉

Leave a Comment