Creator Camp Entrepreneurs Talk About Their Edtech Company On Shark Tank
Highlights
- Creator Camp made its way to the Shark Tank panelists in the fifth episode of Season 16.
- Prepared by Cazden Morrison, Kai Forman, and Jacky Chao, the company offers an edtech summer for kids.
- The Creator Camp entrepreneurs sought $350K for 5% equity in the company.
Shark Tank has managed to be relevant and popular due to the many inventive products appearing every season. The recent season has kept the legacy going with its wide range of innovative products. One example of this is the Creator Camp Shark Tank pitch, which appeared in the fifth episode of the sixteenth season.
Creator Camp was brought to the Shark investors by the entrepreneur trio of Cazden Morrison, Kai Forman, and Jacky Chao. Each of them was captivated by the tech-focused premise of the product but was apprehensive about the valuation and whether it could help recoup the invested amount.
Here is a complete recap of the Creator Camp Shark Tank pitch, which showcased its potential for the next generation of digital creators. Alongside this, there is a discussion on the status of the final deal with Creator Camp.
Creator Camp Shark Tank Pitch: A Brief View
Cazden Morrison, Kair Forman, and Jacky Chao made their way to the panelists with Creator Camp, a solution for kids with large screen time. The entrepreneur trio tried their luck on the show, seeking $350K for 5% equity in the company. Creator Camp offers an edtech summer program for kids aged between 8 and 12.
Starting from their launch in 2020 till the time of the Creator Camp Shark Tank appearance, they run three to four camps at a time. Each camp includes 20 kids and lasts for about two to three days. The entrepreneurs charge $250 per kid.
In further discussion about their backgrounds, Kai revealed that he previously worked as a YouTuber, having 50 million channel views and 140K subscribers. On the other hand, Jacky and Kai hailed from design & animation and film verticals, respectively. The three of them met during the pandemic.
Cazden, Kai, and Jacky hold 24%, 26%, and 22% of Creator Camp, respectively. The company has another co-founder with an IT background who did not appear on the show. He holds 1% of the Creator Camp.
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Creator Camp’s Preparation For The Next Generation Of Digital Creators
The entrepreneur trio started the Creator Camp Shark Tank pitch by highlighting that children from the ages of 8 to 12 spend about an average of 8 hours per day on their screens. Most of this time see them performing activities like gaming, scrolling, and watching videos.
According to the entrepreneurs, none of these activities help improve any of their skills. Instead, it only increases their screen time and hampers their learning. In order to tackle this issue, the Creator Camp founders came up with the idea of an edtech summer program.
Cazden, Kair, and Jacky revealed that Creator Camp helps children make good use of their screen time by teaching them content creation, music production, filmmaking, game design, and animation using their tablets. All of these would collectively help them ensure a positive relationship between technology and children.
Additionally, the trio said that they aim to equip the students with technical skills with courses like video editing, online safety, and audio engineering. Their end goal is to improve creativity and collaboration skills in children participating in Creator Camp.
This is how the entrepreneurs are focused on preparing the next generation of digital creators.
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Final Deal For Creator Camp On Shark Tank Season 16
Although impressed with the amazing, game-changing approach of the company, one by one, the judges exited the Creator Camp Shark Tank deal. Mark Cuban opted out, citing a conflict with his past AI Bootcamp venture. Others, including Lori Greiner, Rashaun Williams, and Kevin O’Leary, too, chose not to invest.
On seeing that the deal was getting out of their hands, Kai claimed that their goal was to reach up to 250 locations by the next six years. Till that time, Creator Camp aims to make about $25 million in revenue. Negating their goal, Barbara Corcoran offered a deal on the condition that they opted for a franchise model.
Her offer was $350K for 25% equity, which was countered by the entrepreneurs with 15% equity. After a lot of discussion, the final deal for Creator Camp was locked for $350K for 18% equity in the company.
Conclusion
The Creator Camp Shark Tank pitch demonstrated the company’s creative attempt at transforming the excessive screen time of kids into an enriching learning experience. Its productive edtech summer program is driven towards teaching children a range of technical skills.
It was due to the inventive idea of Creator Camp that, even after initial apprehensions from the investors, it bagged a deal from Barbara Corcoran.
Entrepreneur, auteur, raconteur. Rob Merlino is a blogger and writer who enjoys the Shark Tank TV show and Hot Dogs. A father of five who freelances in a variety of publications, Rob has a stable of websites including Shark Tank Blog, Hot Dog Stories, Rob Merlino.com and more.
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