Codi is a product of the California-based Pillar Learning Company, founded in December 2017 by Yang and Oslebo. Designed for children aged 12 months and older, Codi utilizes artificial intelligence and voice-enabled learning algorithms to engage young learners.
The toy is fully interactive, controlled via a mobile app, and features a charming design with big eyes and colorful lights in its ears that change with different emotions.
Codi can tell over 130 classic stories and songs, and it helps parents encourage their children to develop daily routines independently, such as cleaning their rooms and brushing their teeth.
The Codi Parent App, available for both iOS and Android, allows parents to guide their children’s activities and send voice messages, enhancing communication regardless of their location.
With a height of 8.5 inches, Codi is not only educational but also designed to be visually appealing and fun for kids.
| Company Name | Codi (Pillar Learning) |
| Founder | William Mock, Dayu Yang, and Chris Oslebo |
| Product | education storytelling toy robot for social and emotional learning |
| Asked For | $500k for 10% equity |
| Final Deal | $500k for 25% Equity |
| Shark | Robert Herjavec |
| Episode (Shark Tank USA) | S12 E8 |
| Air Date | Dec 11, 2020 |
| Business Status | In Business |
| Net Worth | $2 Million *estimated |
Who Is The Founder Of Codi?
The founders of Pillar Learning Company—Dayu Yang, Chris Oslebo, and William Mock—established this educational tech startup to leverage innovative technology and educational research for the benefit of children aged 12 months to 7 years.
Their flagship product, Codi, aims to provide children with knowledge outside the traditional classroom setting, making it easier for them to grasp their studies once they begin school.
Dayu Yang serves as the CEO and Head of Software for the company. He holds degrees from Peking University, Stanford University (Economics), and the University of Pennsylvania (MBA).
Chris Oslebo is the Head of Product Development; he graduated from Stanford University and has experience as a Product Manager for a major toy company, where he has successfully developed, launched, and manufactured over 3,000 toys.
William Mock heads content development and education at Pillar Learning. He holds degrees from the University of California, Berkeley (Asian Studies), Peking University (Chinese Language), and Stanford University (MA in International and Comparative Education).
William is a former kindergarten teacher, academic consultant, and Chief Academic Officer at the American International College in China. Together, this talented team is committed to enhancing early childhood education through technology.
Did Codi Get a Deal on Shark Tank?
Codi Toy’s founders, Dayu Yang, Chris Oslebo, and William Mock, appeared on Shark Tank seeking $500,000 for 10% equity, which implied a $5 million valuation for their product from Pillar Learning.
During their pitch, they provided a comprehensive demo of the toy, revealing that its manufacturing cost is $25.76 while retail prices range from $99.99 to $124.99 as of 2022.
Since the inception of the show, they have sold a total of 2,500 units, generating $260,000 in revenue through Amazon and their website, with sales beginning in November 2019 and deliveries starting during the December holiday season.
To promote Codi, the founders relied heavily on Facebook and Instagram ads, reaching over 3 million viewers. While the current content provided by Codi is free, there are plans to introduce paid content in the future.
Mark Cuban expressed concerns about the intense competition in the market, citing established players like Amazon Alexa for Kids. Lori Greiner shared her worries about competition and pricing, leading her to exit the deal.
Robert Herjavec acknowledged the founders’ hard work but worried that children might quickly lose interest in Codi compared to other toys. Barbara Corcoran noted that the business model did not appear focused on profit, which prompted her to withdraw as well.
Despite all the sharks initially opting out, the founders persisted in their pitch. After careful consideration, Robert Herjavec offered $500,000 for 25% equity. In response, the entrepreneurs countered with a request for $500,000 for 15% equity.
However, Robert maintained his offer, stating he couldn’t go lower. Ultimately, Dayu, Chris, and William accepted Robert’s offer, finalizing the deal at $500,000 for 25% equity in their company.
Codi (Pillar Learning) Shark Tank Update
The Codi robot toy is relatively expensive, making it difficult for many middle-class families to afford, which has impacted its sales.
The founders earn a profit margin of up to 50% on each sale, and shortly after the episode aired, they saw a short-term growth in sales. Despite the time that has passed since the deal with Robert Herjavec, the agreement has yet to be finalized.
In January 2021, Codi was awarded Healthline Parenthood’s Best of the Year Award, which helped enhance its visibility in the market.
As of September 2022, the company reported an annual revenue of $1.2 million, with Codi being made available at ToysRU stores in New Jersey.
Despite the exposure from Shark Tank, the exact sales figures attributable to the show have not been disclosed. Healthline also selected Codi as one of the top products for toddlers in 2021, further solidifying its position in the educational toy market.
The business continues to operate successfully, maintaining strong revenue despite the challenges posed by its higher price point.
What Is Codi’s Net Worth?
Codi’s net worth is estimated at $5 million, reflecting the company’s success since its appearance on Shark Tank. The founders secured a deal at a $2 million valuation, which positioned the company for growth.
In 2020, Codi generated an impressive annual revenue of $1.2 million, contributing to its valuation. Given these figures, Codi’s estimated net worth stands at approximately $2 million, showcasing its potential in the educational toy market.
