What Happened to Emazing Lights After the Shark Tank?
What is Emazing Lights?
Emazing Lights is an e-commerce solution for consumer lifestyle businesses with its lightshow items. Additionally, the company manufactures engineering glove sets, light sticks, poi, and orbits, as well as clothing. EmazingLights is committed to advancing the future of Gloving by conducting Gloving competitions, workshops, and showcase events.
The company is ranked #189 on the Inc. 5000 for achieving a 2281 percent growth rate over three years and producing $5.8 million in revenue in 2013.
Who is the Founder of Emazing Lights?
Emazing Lights was founded in 2010 by Brian Lim.
Lim pioneered the technique of “gloving,” a light show performed at raves and other electronic dance music events using illuminated gloves.
With a $100 investment, he founded his firm in 2010 with the goal of providing light shows at parties utilizing his LED gloves.
Fast forward to 2015, and Lim now owns a profitable business with annual revenue exceeding $16 million! EmazingLights was the 189th fastest growing firm in 2014, according to the annual “Inc. 5000” report.
The gloves start at $12 for a basic pair and go up to $100 for a high-end pair.
The business also sells other bright items like as eyewear, clothing, and accessories.
Mr. Lim has grown Emazing Lights into a multibillion-dollar enterprise.
Christina, his fiancée, runs a parallel business called heartrates, an online mega market dedicated to rave-related items.
Lim is unsure if he wants funding for expansion or a Shark’s assistance with production. Will an Emazing Lights captivate a Shark?
What Happened to Emazing Lights at the Shark Tank?
Brian Lim’s Emazing Lights, his tremendously successful LED lighting Glove Company, is featured in Shark Tank season 6 episode 22.
Brian arrived dressed as the Emazing Lights mascot and is seeking $650,000 in exchange for a 5% stake in the business. This equates to a $13 million valuation for the Company.
The lights dim, and many of his aides demonstrate Sharks gloating.
Brian distributes samples following the demonstration, and the questioning begins. They are, in Robert’s perspective, cool.
Kevin is perplexed by the company’s $13 million valuation.
Brian anticipates selling $5.5 million this year.
He discusses how he established IHEARTRAVES.com, which has amassed a revenue of $2.5 million.
Brian discusses how his parents immigrated from China, establishing a strong work ethic in him, and contrasts himself to Mark, who used to sell CDs door to door.
His EmazingLights patents include the programming of the glove lights.
Mark is inquisitive about the price. Profit margins range between $10 and $17, but Mark is intrigued by what happens afterwards.
According to Brian, gloving has developed into a “performance sport.”
Daymond compares gloving to break dancing, and Brian feels it is gaining traction outside of the EDM scene; he believes it has the potential to grow to be a billion-dollar industry.
Mark feels that global expansion is the way to go.
Kevin offers Brian a $650,000 loan at 3% interest; Brian declines, stating that he prefers a partner over debt; Kevin departs.
Daymond inquires as to why Brian is requesting 5% of the license agreements he brings in; Brian responds, “Make an offer,” and Daymond offers $650K for 20% of the licensing agreements Brian brings in. According to Robert, Brian is the “authentic thing.”
Robert and Lori pool their resources to offer $1 million in return for an 8% stake.
Mark offers $650,000 in return for an 8% commission and convinces Daymond to take a 20% cut of all deals he licenses.
Lori and Robert counter with a $1 million investment for a 5% share.
Brian asserts that he is aware of the offers and that his motivation is not financial. He is still in excruciating pain. After a little delay, he accepts Mark and Daymond’s offer!
What Happened to Emazing Lights After the Shark Tank?
The Emazing Lights have risen in popularity as a result of the Sharks agreement.
Lim was forced to increase his personnel and office space just a few months after the episode aired to keep up with the demand.
MGM obtained a license to sell the company’s products and sold them at six of MGM’s Las Vegas casinos.
The company expanded to 50 full-time employees and 3,000 square feet of warehouse space in August 2021.
Annual sales for the firm is absurdly high at $20 million.
Additionally, the company has included a charitable component through the Glove for Glove organization.
The non-profit offers gloves to handicapped festival attendees.
Who are Emazing Lights’ Competitors?
Brite Shine: Shine Brite is an e-commerce firm situated in Las Vegas. The company manufactures and distributes LED light sticks online and through stores like as Amazon and B&H Photo.
Elite: Elite is another LED glove producer.
Their LED gloves may be purchased directly from their website at www.elitegloving.com.
SOFACOMPANY: SOFACOMPANY’s gloves are of exceptional quality and come in a variety of styles.
They sell their items on a variety of websites, including amazon.com and ebay.com.
There are even free lessons available to teach you how to utilize them!
Manus: The company manufactures gloves similar to those used in the Emazing Lights.
Additionally, they provide lessons on how to utilize their goods.
They offer their wares on a variety of websites, including amazon.com and ebay.com.
Light Doctor: This company sells $40 to $60 LED gloves.
They sell their items on a variety of websites, including amazon.com and ebay.com.
What is the Emazing Lights’ Net Worth?
Brian Lim’s net worth was $13 million during his “Shark Tank” debut. As of 2021, his net worth is estimated to be $ 50 million.
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FAQS of Emazing Lights
What are the benefits of Emazing Lights products?
The major purpose of EMazing Light is to produce high-quality items at a pricing point under $100. The gloves are intended for optimal comfort and convenience of usage while staying extremely robust.
Is the product patented or exclusive?
The product is patented and one-of-a-kind.
What is their target market?
The company’s goods are largely targeted to fans and dancers of electronic dance music (EDM). The gloves may be used to develop one’s abilities as an EDM performer.
Additionally, they may be utilized as a recreational toy for individuals who prefer to express themselves simply through light shows at a gathering of friends and family members.
How much does their product cost?
All Emazing Lights gloves are now priced between $65 and $95.
How did they become successful?
Brian Lim, a previous investor at Streamy, launched the startup in 2010. Initially a side project, the company’s success and expansion propelled it into the limelight.
How do they handle shipping?
Shipping is now free inside the United States, and is calculated based on weight and distance.
What is their company’s strategy for growth?
The firm will continue to offer competitively priced, high-quality items.
The company intends to expand its business strategy by distributing LED gloves under several brand names and cooperating with other companies to develop new goods.
What is the most popular product?
The company’s most popular offering is their simple LED Gloves. Additionally, the gloves are adaptable, since they have a clip for attaching the battery pack to the user’s jeans or shirt.
How can they contact them?
Emazing Lights may be contacted via their website at www.emazinglights.com
What is their company’s vision statement?
The company’s objective is to establish itself as a market leader in the development and production of high-quality LED goods.
Did Emazing Lights secure a deal with Shark Tank?
Yes, they did in January 2018. They successfully pitched their invention to Shark Tank and landed a deal.
The product featured on Emazing Lights on Shark Tank is self-expression LED gloves.
Was the product on shark tank new or was it already on the market?
The invention was not novel; rather, it was an enhancement over the existing LED gloves on the market.
How much did they get from shark tank?
The company earned a total of $650,000 from shark tank investors in exchange for a 5% stake in the business.
What other products do them make to make money?
The LED gloves are a cutting-edge device that enables individuals to express themselves in novel and imaginative ways.
Additionally, the brand sells LED light-up shoes, pendants, and leggings. The goods are available for viewing on the website at www.emazinglights.com
Do they have to pay for the shipping?
Shipping is now free inside the United States, and is calculated based on weight and distance.
Instagram is the company’s principal social media platform. Additionally, they engage with their consumers and supporters via Facebook and Twitter.
They use images, videos, and graphics to market their products and emphasize their skills on these websites.
How do they use Emazing light gloves?
Emazing Light gloves are wearable pieces of technology that simulate a light display on the user’s hand.
The gloves may be worn on a date, at the movies, or on a trip.
If they’re dancing or performing at a performance, the gloves will enable them to illuminate and silhouette their hands for an incredible impact.
How long do Emazing Lights products last?
Emazing Lights’ LED gloves have a battery life of 6-10 hours.
How much weight do Emazing Lights products have?
The LED gloves are lightweight, weighing in at less than.5 ounces.
How many colours do they have?
Emazing Light’s LED gloves are available in a number of colours.
How long can the Emazing lights product last for?
A one-year warranty is included with this device.
When do they need to buy new ones?
It is advised that they acquire another pair of gloves once their current pair of gloves has been charged for around 6-10 hours.
