"I'm not a fan of the idea" — When Shark Tank's Mark Cuban rejected TROBO

Chris Harden and Jeremy Scheinberg appeared on Shark Tank season 8, episode 17, which aired on February 17, 2017. They sought $100,000 in exchange for 10% of their company, TROBO, an educational service with a plush toy and an app to teach children about STEM. The product immediately raised concerns among the sharks, especially Mark Cuban, who was the first to bow out of consideration.

"Guys, I'm not a fan of the idea," he said.

The Shark Tank investor added that their idea did not sound like the "big blowup" kind that would take the market by storm. Since content was the key feature of their product, they needed unique and "compelling" stories to capture the children's attention. However, Mark could not find that factor and refused to invest.

Some other Sharks voiced a similar concern while the rest disagreed with their high price point. Despite the negative feedback, Chris and Jeremy managed to finalize a deal with Robert Herjavec.

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"I think you're gonna hit a dead road" — Shark Tank panelist Daymond John refuses to invest in TROBO

While demonstrating their product to the Shark Tank investors, the founders explained that TROBO was a wirelessly connected storytelling robot that read stories about science and math to children using tablets and phones. It was an interactive service that engaged the children with puzzles and questions. The stories were personalized and each child was given their own name.

"We go one step further by actually putting the child right into the story. The child builds an avatar within the app and quickly becomes the main character," Chris said.

After the entrepreneurs analyzed the samples, they realized the plush toy worked solely as the "speaker" while the rest of the work was done on the app. Chris and Jeremy explained that the plush toys created an "emotional" bond between the child and the story besides being the "speaker."

When Robert asked them how they created the content, the TROBO founders revealed they crowdsourced it.

"So, we throw out a story topic and then we have a story contest. People submit stories and we pay for the story content," Chris explained.

When Kevin O'Leary asked about the price of TROBO, he stated that the toy and the first five stories retailed for $59.95. After that, users had to pay $4.95 per story until a subscription model was introduced. It immediately raised concerns as the investors expressed dissatisfaction with the price point.

Daymond then asked the entrepreneurs about their sales and other statistics. The TROBO founders mentioned they had received a boutique order of 600 units.

When Lori asked if any retailers had shown "great interest" in their product, the business owners answered in the negative, saying it was because they dealt with boutique and lower volumes. However, they defended themselves, saying they were still new to the space.

Kevin O'Leary told the duo that their business would not survive if they sold a plush toy for $50 and stories for $4 each. He claimed people would not buy their product because they could access free content elsewhere. Kevin backed out of consideration and added that without the help of a major retailer, they would not sell and none of the major stores would put a $50 toy on their shelves.

Daymond expressed a similar concern and refused to invest.

"The direction you're going, I don't... I think you're gonna hit a dead road. I'm sorry about that. I'm out," he said.

Shark Tank panelist Lori Greiner followed suit and moved out of discussions, noting how none of the major retailers showed interest in investing in their product. As an investor, she saw it as a "warning."

Unlike the rest, Robert saw TROBO as a content delivery business. He believed DreamWorks would sign a licensing deal with TROBO so they could sell content. Consequently, he offered $100,000 for 33.3% of their business, contingent upon a deal with DreamWorks.

The founders countered, seeking $166,000 for 33% of their business. After some deliberation, Robert accepted their counteroffer. Despite leaving Shark Tank with an offer, the deal never closed. TROBO's price was reduced in the subsequent years and the company officially shut down in 2017.

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Shark Tank can be streamed on ABC.com.