Parents are always looking for cheap activities to keep their kids engaged. CertifiKID is a marketplace for finding family-friendly activities, services, and products. Essentially, it’s a group buying site for families. Founders Jamie and Brian Ratner pitched their business on Shark Tank and landed a deal with Kevin O’Leary. CertifiKID is valued at $10 million by 2024.
About the Founder
Brian and Jamie Ratner are a married couple living in Washington, D.C. Brian holds a graduate degree in law from the University of Pittsburgh and has spent most of his career as a partner at Hausfeld LLP.
Jamie studied Criminal Justice at Pennsylvania State University. After earning her bachelor’s degree, she attended Northeastern University to pursue a master’s degree in security management. Jamie later became a security manager at Williams and Connolly LLP.
establish a company
Brian and Jamie are able to provide a good life for their children, but Jamie has always dreamed of starting her own business. When she signs her son up for an expensive music course, she has a brilliant idea.
She came up with an idea for an online platform where parents could find deals on kid-friendly activities. Brian loved the idea, and together they invested $5,000 of their savings to develop their website.
They launched CertifiKID in 2010 and partnered with over 130 local businesses in the first 10 months. During that time, they acquired 13,000 newsletter subscribers and achieved $1 million in sales in their first year of business.
Shark Tank Appearance
By 2019, CertifiKID was thriving, projecting $5 million in full-year sales. However, Jamie and Brian Ratner decided they needed help with marketing. The couple appeared on the show’s 10th season, seeking $600,000 for an 8% stake.
The Sharks were initially taken aback by the valuation, but that changed as the pitch progressed. The startup was expanding rapidly in a niche market, but still had untapped potential. Barbara, Diamond, and Kevin O’Leary all made offers to invest. After some time to consider, they accepted Mr. Wonderful’s offer of $600,000 for a 19% stake.
After Shark Tank
The company is still thriving, but they went through some tough times in 2019 and 2020. The pandemic put a damper on their growth plans in early 2019. CertifiKID bounced back strongly in 2021, with revenue reaching $5 million, a 50% increase over the previous year.
CertifiKID has now recovered to 30 employees after hitting a low of 14 during the pandemic. They are slowly looking for more employees in marketing and web development. You can check to see if they are in your area by visiting CertifiKID.com.
On SiteJabber.com, the platform has an average star rating of 4.76 out of 4,184 reviews. According to CNBC, CertifiKID generates around $6 million in sales per year. Therefore, the company is currently valued at around $10 million. Although the company is performing well, they are eager to invest in improving their website user experience and design.
Categories: Shark Tank
Source: dut.edu.vn
