Pinblock, the innovative construction toy company created by Vladislav Smolyanskyy, gained significant attention when it appeared on Shark Tank in Season 8.
The company offers a versatile building block system designed with a single shape, allowing users to create any structure they imagine.
This design eliminates the constraints of traditional building block sets, where specific pieces are required to form particular shapes.
Vladislav pitched Pinblock on Shark Tank in 2017, asking for $100,000 for 20% equity in his business.
The pitch caught the attention of Kevin O’Leary, who initially offered $100,000 for 30% equity and suggested licensing Pinblock to a major toy manufacturer.
However, Vladislav was hesitant, as this offer did not align with his long-term vision for the company.
After some negotiation, Kevin revised his offer to $100,000 for 50% equity, with the provision that Vladislav could still vet any potential licensing deals.
Vladislav ultimately accepted Kevin’s terms, but things did not go as planned after the show.
While the deal with Kevin O’Leary did not proceed, Pinblock benefited from the exposure provided by the show.
Following the Shark Tank appearance, the company sold out 80% of its stock, a clear sign that there was strong interest in the product. However, the business faced challenges that slowed down its momentum.
One of the primary issues was delays in product redesign and communication problems, which hindered the timely release of Pinblock 2.0, a redesigned version of the toy.
Initially, the company had planned to launch Pinblock 2.0 in June 2017, but delays with product development and finding reliable manufacturers pushed the release back.
As of the latest updates, some Pinblock products are still available on Amazon and the company’s website, but many items are marked as sold out.
Despite the setbacks, Pinblock remains in business, and its products have continued to generate interest in the market.
Vladislav, however, eventually shifted focus and took on a new role at Raindrop Media Management.
Pinblock’s experience post-Shark Tank highlights the competitiveness of the toy industry.
The company struggled to secure licensing deals with larger manufacturers, a key aspect of Kevin O’Leary’s strategy for global distribution.
This setback, coupled with the delays in production, made it difficult for Pinblock to maintain the momentum it gained from the Shark Tank appearance.
Despite these challenges, the exposure on Shark Tank helped Pinblock reach a broader audience, and the company is still operational, selling its products directly to customers online.
With further product development and the possibility of new licensing partnerships, there remains potential for Pinblock to continue growing.
