The portable Vinyl record player, RokBlok, was bought by Robert Herjavec for $500,000. As of 2023, RokBlok is worth over $5 million. Read about the company’s success, Logan Riley, and Shark Tank’s appearance.
Shark Tank is full of unique and successful products, but we rarely see unique inventions that have the potential to make it into the market. Today, such an invention is RokBlok.
If you have any old records that are eating nothing but dust in your closet, it is time to bring them out as RokBlok is now giving birth to a new trend. Old vinyl records and your taste for vintage music are about to get a new life.
RokBlok proved to be a successful product before and after Shark Tank, which is why you may be wondering how RokBlok is doing in 2023.
In this article, we will take a closer look at RokBlok’s invention, how the business was doing before, and how RokBlok is doing in 2023. At the end of the article, we will be calculating RokBlok’s net worth in 2023 as well.
What is RokBlok?
RokBlok is the world’s smalled portal record player that gave birth to a new trend as record collectors could now collect something advanced with Bluetooth capabilities and portability.
On Season 9 Episode 13 of Shark Tank, RokBlok was introduced by an electrical engineer Logan Riley.
Image Source: RokBlok.co
RokBlok offers many features that give a new life to your old record players. For instance, you can simply put RokBlok on top of any of your favorite records, raise the control lever, and it will start playing music and bring back the memories you have with it. To stop the music, you need to put your hand over the lever, and as the lever goes back down, the music is stopped.
RokBlock Features
- Portable (4×2 inches)
- Easy to Use
- Plays 33.5 & 45 RPM Records
- Built-in Analog Speaker
- Rechargeable Battery
- Wireless (supports Bluetooth)
About the Founder Logan Riley
Logan Riley, the genius mind behind RokBlok, is a self-taught electrical and sound engineer who worked for Apple (education technologies department) for around five years.
Before that, he was an audio engineer from the age of nineteen, which is impressive given that he taught himself everything from YouTube.
RokBlok’s Shark Tank Appearance, Explained with Numbers
After successfully creating and making some good sales of his product, Logan Riley pitched RokBlok on Shark Tank in 2017.
Logan Riley was unlike those boring marketers who don’t know what they’re talking about. The guy started talking about RokBlok and the more he spoke, the more he showed his passion for vintage tech and vinyl records.
The Sharks’ Reaction to RokBlok
When Logan started pitching the product, the sharks were sold by the unique idea of bringing back the nostalgia of owning vinyl records. RokBlok gave a new life to old collectors’ records, and the sharks, especially Mark Cuban and Mr. Wonderful became fans instantly.
And as Logan demonstrated how RokBlok is played, they were even more impressed. “That is so cool,” said Robert. As he kept explaining the product and its capabilities such as smaller size, convenience, and wireless play, the sharks said nothing but smile.
However, the sales numbers, cost of making, and retail price turned most of the sharks off. RokBlok retailed at $99, and the cost of making a unit is $23. As good and low as the cost of making is, the sharks were convinced that $99 is unjustifiable, except Robert Herjavec.
Here’s the full breakdown of RokBlok’s Shark Tank pitch with respect to numbers:
| Product Name | RokBlok |
| Founder | Logan Riley |
| Season/Episode | Season 9 Episode 13 |
| Year | 2017 |
| Seeked Investment | $300,000 |
| Stake Offered | 15% |
| Shark? | Robert Hejavec |
| Deal | $500,000 for a 100% stake |
| Logan’s Salary | 6 Figures for two years |
| Royalty to Logan Riley | $5 a piece (lifetime) |
| Company Valuation (in 2017) | $500,000 |
| Net Worth (2023) | $5 Million |
Until 2017, RokBlok had sold over $350,000 in total sales, thanks to Kickstarter he started to get help market and getting the product out in the real world. Besides Kickstarter, he had sold over $60,000 worth of RokBlok by 2017.
Kevin did show some interest, but we do know how greedy he can get when it comes to investing his money.
Kevin’s Offer – $300,000 for 50% of RokBlok – REJECTED
After getting criticized by Mark, Kevin, Lori, and Barbara, Logan still didn’t lose hope in his product, and this is what Robert was looking for.
Robert Herjavec bought 100% of RokBlok
“I love it. I think it’s a beautiful design… I think it’s gonna be a slow burn. I don’t think it’s gonna be one of those products that go to millions right away, but I think It’ll sell for a very long time,” said Robert.
“Here’s my offer and it’s a little bit different: SELL IT TO ME!,” he added.
Robert’s Offer – $500,000 for 100% of RokBlok + two-year of employment with 6 figure salary + $5 per unit Royalty to Logan Riley, – ACCEPTED
RokBlok Net Worth – From Shark Tank to 2023
RokBlok was struggling before Shark Tank, and the founder had sold over $400,000 of RokBlok in total, but none of the units were shipped, meaning he had no real feedback. Robert Herjavec saw potential nevertheless and bought 100% of the company, which proved to be good for RokBlok in the long term.
At the time of the Shark Tank pitch in 2017, RokBlok was valued at $500,000, but since the revenue has grown significantly, RokBlok is doing quite well as compared to 6 years ago.
RokBlok After Shark Tank
After Shark Tank’s exposure and Robert’s deal, the vinyl record player company is getting a good amount of visitors to its website. According to Ahrefs traffic analysis, RokBlok.co registers over 70,000 visitors each month, 23,000 of which are organic and unique visitors.
Image Source: Ahrefs
What it means is that Robert was right. Even though RokBlok didn’t blow up and sold millions of dollars of products right away, he did say that people will keep buying it for a long time, and the traffic data suggests that he was true.
RokBlok’s Net Worth in 2023
Taking into account the sales, traffic, and previous valuation of RokBlok, the estimates say that RokBloks’ net worth is well over $5 million in 2023.
It means that the valuation has been ten-timed since 2017, Robert has made over 1000% on his investment, and he still owns the company.
How Much Did Robert and Logan Riley Make from RokBlok?
As Robert Herjavec bought 100% of RokBlok and the company is now worth an estimated $5 Million, Robert made 10 times his money and still kept all of his equity.
Logan Riley, on the other hand, has made two six figures in salaries in two years, but the information regarding whether he is still employed at RokBlok is unavailable. His royalty still remains, and the $5 million net worth means that he has made over $250,000 from the royalty alone.
Final Words
RokBlok is a portable record player that has become a huge success story. The founder, Logan Riley faced some tough criticism from investors on Shark Tank. However, one investor, Robert Herjavec, believed in the company and bought it for $500,000.
Since then, the RokBlok has become worth more than $5 million! People love it because it’s a modern twist on an old-fashioned way of listening to music. This is a great example of how, with hard work and dedication, even unusual products can become popular and successful.
Frequently Asked Questions – FAQs
Who Owns RokBlok?
RokBlok is owned by Robert Herjavec as he bought the company for $500,000 for a 100% stake in 2017 from the founder Logan Riley. The company is now worth an estimated $5 million.
How Much Does a RokBlok Sell For?
The RokBlok goes for $99 each, while the production cost for each unit is $23. Since 2017, the price of RokBlok hasn’t changed on its website.
Does RokBlok damage records?
RokBlok can play records at different speeds and in reverse, but some people think it can damage records more easily than a regular turntable. Techmoan, a renowned YouTuber, tried it and thought the sound wasn’t very good.
Did Robert Herjavec buy RokBlok?
Yes, Robert Herjavec bought RokBlok for $500,000 in 2017 at the Shark Tank episode. The business is doing well and is now worth well over $5 million.
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