Do not really know much about these so wondering if anyone here has experience with them and if you could provide me with some educational insights

I don't have any experience with iBobber but bought Vexilar's Sonarphone a few years ago.  It's similar to the iBobber in that it's castable and uses a smartphone APP as a controller.

 

I use it when bank fishing new waters.  It sets up its own WIFI network and is good for 75 yards or so.  It's basic, but shows depth and water temp.  The Vexilar's battery life is excellent.  

 

I used it in my first kayak by tying a short line to it and the stern until I installed a Lowrance on it.

 

I like the idea because it stows in my tackle bag and charges with a USB cable.  It was also short money when compared to a dedicated fish finder.

I also have the Vexilar T-pod Sonarphone.

 

I did some research and the Vexilar is a better item than the I Bobber. The Vexilar uses a wifi signal rather than the I Bobber's Bluetooth connection. The sonar readout of the Vexilar actually looks like any sonar readout from a traditional fishfinder unlike the I Bobbers unique screen image.

 

 

IBobbers are essentially a small fish finders. They can be a good way to use a fish finder when bank fishing, but it is better to buy a dedicated fish finder if fishing out of a boat. The Deeper Fish Finder is a better and more accurate version that also has more options and uses.