Kids get bored with their toys and continuously want something new to play with. Wouldn’t it be great if there was a service for renting toys? That’s what the founders of Toygaroo thought, but they were wrong.
The Sharks thought the idea was odd, but it ended up getting an investment. Sharks Mark Cuban and Kevin O’Leary teamed up to invest $500,000 for a 40 percent stake in the company. Unfortunately, business fizzled due to multiple issues. It was hard to ensure that the toys were clean and safe for kids to play with, therefore creating a sticky situation. Also, many children did not understand the concept of renting toys and were unwilling to part with them as a result.