Tanoshi, a technology company with a funny name and a strong social mission, came to the Shark Tank to secure a business partner willing to invest $500,000 in exchange for 8% in their company. Named after the Japanese word for fun, Tanoshi, is on a mission to make computers and technology more accessible to everyone. Although technical skills such as typing and computer proficiency are important for academic and professional success, many underprivileged children are not able to gain these valuable skills simply because their family can not afford expensive technology for them to sharpen their skills at home. Tanoshi is trying to close the skill gap by offering affordable technology solutions in their 2-in-1 laptop and tablet product that is pre-loaded with age-appropriate educational content. Tanoshi believes that just because a family is in a lower income bracket they should be excluded from the benefits that technology has to offer.

By offering their product for half the cost of an iPad, Tanoshi is hoping to appeal to families who are concerned about the content that their children are consuming but want to give them opportunities to use technology in a responsible and affordable way. Each computing unit can be paused and tracked from an app on the parent’s smart devices so that they are able to keep track of how much time they are spending on their computer or tablet as well as monitor the type of content their children are consuming.

Since the introduction of their product 1.5 years ago, Tanoshi has sold out three times and has brought in over $720,000 in sales. The team has put their life savings into this product and they whole-heartedly believe in their mission. They need an infusion of capital into the business to help them continue to grow and innovate additional software to drive the future vision of their company. The Sharks are concerned about the razor-thin margins in the electronic space. Low margins do not allow much room for investors to profit from their investments. They also think that, although the price point is lower, Tanoshi will still compete with other technology brands like Apple and low-cost tablet competitors.

Although the other Sharks passed up the opportunity to invest in Tanoshi, Daymond John felt a very strong tie to their social mission of providing affordable technology to underprivileged families. He feels that a licensing deal is key to the future of the company and decided to extend them an offer that is contingent upon them landed a licensing deal. Daymond offered to invest $500,000 in exchange for 20% equity with that contingency in place. Tanoshi agrees to his offer and partners with Daymond John.

Do you think that Daymond made a wise decision to partner with Tanoshi? Would you purchase this product? Do you feel that the other Sharks missed out on this investment opportunity? Sound off in the comments below!

Read more: Shark Tank: Tandem Boogie Accepts $100,000 From Daniel Lubetzky and Robert Herjavec


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