Toymail
Toymail

First into the tank is Gauri Nanda of Toymail, seeking $250,000 for two-and-a-half percent equity.

Toymail allows kids to voice chat with friends and family without using a phone. The plush toy Talkie connects to an app, which allows for messages to be sent back and forth. The collection includes Bitsy the Bat, Nunu Unicorn, Gory the Shark and more. Toymail can be used to “keep your kids on track with reminders, turn your Talkie into a bed buddy to help lull your child to sleep, or unlock new voice filters by accessing the cloud channel on the Toymail app,” according to their website. A plush toy costs $59 and the app is free to download.

Verizon and Amazon have invested in the business and they have raised $1.6 million. Robert Herjavec thinks there’s not enough equity and goes out. Kevin O’Leary finds it very impressive but the equity is too low for him as well so he goes out.

Guest shark Chris Sacca thinks Nanda is more than qualified but doesn’t like the equity either. Despite not liking the equity, he offers $400,000 for five percent. Mark Cuban then jumps in, offering $500,000 for five percent equity. Lori Greiner wants Nanda to negotiate with her and she suggests joining Cuban’s offer. Sacca then offers $600,000 for five percent, with the option for Greiner to join him. Ultimately, she accepts the deal with both Sacca and Greiner.

Social Media Reacts to Toymail’s Appearance on “Shark Tank”

Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging business to six multi-millionaire and billionaire investors, known as sharks: Mark Cuban, owner of the Dallas Mavericks; Daymond John, fashion mogul and founder of FUBU; Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group; Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC; and Robert Herjavec, technology guru and founder/CEO of the Herjavec Group. Venture capitalist Chris Sacca is also slated to appear as a guest shark this season.

“Shark Tank,” which is based on “Dragons’ Den,” is produced by Mark Burnett and first debuted in 2009. To date, the sharks have invested more than $87 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Friday at 9 p.m. on ABC.

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