What Happened to Amber After Shark Tank?
What is Amber?
Amber is a mobile phone charging station prototype for public use. Drop the phone into an empty compartment, unlock it with a fingerprint scan, and the phone will charge itself.
Amber Phone Charging, developed in 2014 by Kyle Byrd and Bill Shuey, was Kyle Byrd and Bill Shuey’s idea.
Amber also allows enterprises to collect data and establish a customer database, which is a unique feature. Customers may also use the app to locate locations where the service is available.
The idea was that if an Amber charger was nearby, some people will prefer one area over another, especially if their battery power is low.
Who is the founder Amber?
Amber Phone Charging, founded in 2014 by Kyle Byrd and Bill Shuey, is Kyle Byrd and Bill Shuey’s idea. Both are graduates of Virginia’s James Madison University, where they came up with the idea for the firm.
Kyle has a bachelor’s degree in industrial design. He went on to work for a variety of companies before becoming the Senior Product Manager for a company that provides tools for start-ups.
Bill majored in Political Science. He is presently employed in sales for a home improvement company in the Baltimore area.
After establishing a mutual interest in start-up businesses, they thought they had discovered an underserved sector in phone charging stations.
They intended to sell or rent charging systems to large-scale venues such as stadiums and theaters.
They were working on Amber, the first material used to conduct a charge, as a prototype for their innovation.
Amber is acquired for less than $200 by the venues, and they have the choice of charge people to use the charging station or not.
Businesses that supply Amber charging stations to their customers will get more loyalty and, hopefully, return because of the extra value. Another benefit at restaurants is that if someone’s phone is locked in Amber, they won’t be able to pull it out at the table!
What Happened to Amber During The Shark Tank Pitching?
Shuey and Kyle chose to present their organization to Sharks in episode 1 of Amber on Shark Tank Season 6 to offer inventory finance and smart sales introductions.
Shuey and his business partner, Kyle, entered the Shark Tank looking for $250,000 in exchange for a 25% ownership in their firm, worth $1 million.
They do a small demonstration to show how secure it is. They say that they are “pre-revenue,” and that a unit costs $2,000 to buy or $150 to lease each month.
Robert was skeptical that they will be able to develop a safe fingerprint scanner to safeguard the phones in the charger.
When Shuey and Kyle reveal that the product costs $1000 to produce, the protests begin, and Lori quits immediately.
Daymond thinks that other things on the market fulfill the same purpose, whilst Mark thinks it’s a terrible idea. He also went out. Kevin dismisses it as the dumbest notion he’s ever seen and he also exits.
Daymond was up next. According to Robert, they are competing with free solutions and exits.
The Sharks consider it one of the shortest and worst pitches they’ve ever seen. Shuey says in the hallway that he wishes he could “rail Herjavec in the teeth.” They ultimately walk away from the pitch without a deal.
What Happened to Amber After Shark Tank?
After hearing from numerous manufacturers and distributors, they left the presentation with no agreement but a small number of direct purchasers.
Following the Sharks’ advice, they dropped the price to $75 per month and included a consumer financing option. The concept never really took off, and the firm went bankrupt in 2015.
Despite gaining some investor interest, Kyle later noted that expanding the company and bringing it to market proved challenging due to the complexities of hardware development and the significant upfront costs that this required.
As of August 2021, Kyle is a Senior Product Manager at Atlassian, a software company, while Shuey works in sales at Long Home Products, a home renovation contractor.
Competitors of Amber
Amber’s primary opponents include Advanced Cooling Technologies, Nuro, Lucid Motors, and NAVYA.
Amber’s Net Worth
The firm was valued at $1 million during and after the pitch; however, the company went out of business in 2015, hence the company’s net worth is unknown.
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Amber FAQs
Who was the developer?
Amber Phone Charging developed and launched in 2014 in the United States by Kyle Byrd and Bill Shuey, was a smartphone charging station.
Amber’s main goal was to make having a smartphone accessible to all people. The company soon expanded to provide charging services for laptops and other devices.
What is Amber?
Amber is a mobile phone charging station prototype for public use. Drop the phone into an empty compartment, unlock it with a fingerprint scan, and the phone will charge itself.
How did Amber work?
Amber also allows enterprises to collect data and establish a customer database, which is a unique feature. Customers may also use the app to locate locations where the service is available.
Was Amber a scam?
No, Amber was a real product that was fully operational. It was the first prototype for a phone charging station and it is still being used at the JMU Innovation Factory in Harrisonburg, Virginia and other limited locations.
Can Amber charge multiple devices?
Yes, multiple devices, such as tablets and computers, can be charged at Amber stations. It is also possible to use two stations at the same time to provide phone charging services for two devices simultaneously.
What happened to Amber?
Amber Phone Charging worked on multiple prototypes of the charging stations and presented them to potential investors in the United States. However, they were unable to reduce costs enough to make a business model viable. As a result, they went out of business in 2015.
What was Amber warrant?
Amber warrant was a temporary locking station for mobile devices that allowed users to charge their phones with their fingerprint.
Was Amber patented?
No, the company did not patent the patent, as the technology required improvement before becoming viable. The patent remained publicly available to anyone who wanted to copy it.
How much was Amber charged?
Amber phone charging stations were $2,000 each or $150 per month to rent. Customers had the option of paying for a one year pact up front or making monthly payments.
Was Amber a subscription?
Amber was a subscription service and it was possible to cancel at any time.
What did Amber do?
Amber phone charging stations allowed users to charge their smartphones without having to hold them. Instead, users simply had to place their devices in the station and the phone would recharge itself automatically. The process would be performed at each of the charging stations for about five minutes.
What was Amber subscription plans?
Amber offered two subscription plans to users; the first plan was to order the phone charging station for a year at $2,000. The second subscription plan allowed users to pay $150 per month and they would be able to change their phones when they wanted.
What was Amber purpose?
Amber’s purpose was to bring users’ phones back from zero charge in just five minutes. It also allowed customers to use the phone while it was charging and even give it away without the risk of data theft.
Was Amber safe to use?
Amber allowed users to charge their devices safely and securely.
What was Amber’s target audience?
Amber was the first phone charging station designed specifically for use by local governments, schools, universities and businesses.
Did Amber work only on Android phones?
No, Amber can also be used on iPhones, iPads and other devices. The technology is also compatible with Windows or Mac systems as well as Linux operating systems.
