What Occurred To ActionGlow Lights From Shark Tank Season 14?
First showing on “Shark Tank” for Season 14 in 2022, ActionGlow would search an preliminary funding of $200,000 for 15% fairness within the firm, bringing the valuation of ActionGlow to $1.3 million {dollars}.
Accompanied by a formidable spotlight reel of their product in motion, the brothers pitched the modern new concept. They’d clarify that in 2016, they obtained a full utility patent for ornamental lighting methods for sporting tools, which the sharks appeared receptive to.
The brothers would later clarify {that a} new product in growth, ActionGlow2, would have variable lighting and a number of colour choices slightly than static lighting, decreasing the wanted SKUs from 40 to only eight. With a shark’s funding, the duo might end that second-generation product and begin delivery it to customers.
Whereas the sharks have been initially impressed by the dogged willpower of the brothers, in addition to the general concept for the product, buyers began to drop out after they started to study ActionGlow’s whole gross sales.
Over 10 years, the corporate generated $130,000. Whereas these figures is probably not spectacular, they’re when you take into account that simply the 2 brothers began the corporate after they have been 13 and sixteen years outdated.
Whatever the gross sales, by the top of the episode, the brothers had reeled in and accepted a proposal from Robert Herjavec. They’d obtain their unique ask of $200,000, however it could come at the price of 30% fairness of ActionGlow.
