Amber Shark Tank’s Net Worth
Amber was a mobile phone charging station company that appeared on Shark Tank in Season 6, seeking a $200,000 investment in exchange for 20% of their business.
The company’s Net Worth was at $1 million during the pitch but went out of business in 2015 and its net worth is now unavailable.
What is Amber and Who is the founder Amber?
Amber is a prototype of a public-access mobile phone charging station that allows users to drop their phone in an empty compartment, lock it with a fingerprint scan, and have it charge automatically.
The organization also enables businesses to gather data and establish a customer database. The app allows customers to locate the service.
The concept of Amber Phone Charging was created by Kyle Byrd and Bill Shuey, both graduates of James Madison University in Virginia.
Kyle, who has a Bachelor of Science in Industrial Design, is now a Senior Product Manager for a company that offers start-up tools. Bill, who studied Political Science, currently works in sales for a home improvement company in Baltimore.
They discovered an underserved niche in phone charging stations while exploring start-up firms and intended to sell or rent charging systems to large-scale facilities such as stadiums and theaters. They created the prototype of their invention, Amber, which was the first material used to conduct a charge.
Venues can purchase Amber for a little under $200 and have the option of charging customers to use the charging station or not. Businesses that provide Amber charging stations can gain greater loyalty from their customers and increase the likelihood of repeat visits.
In restaurants, another advantage is that if someone’s phone is locked up in Amber, they won’t be able to use it at the table.
Amber Shark Tank pitch
In season 6, episode 1 of Shark Tank, founders Shuey, and Kyle presented their firm, Amber, to the Sharks, hoping to receive financing for inventory and strategic introductions for sales. They were asking for $250,000 for a 25% stake in their $1 million company.
During their presentation, they demonstrated the security of their product, which is a public-access mobile phone charging station that locks with a fingerprint scan. However, the Sharks were unimpressed and doubted the effectiveness of their fingerprint scanner.
When Shuey and Kyle revealed that their product cost $1,000 to make, the Sharks became even more skeptical. Lori left the deal immediately, and Mark called it a terrible idea and also exited. Kevin dismissed it as the worst idea he had ever seen and went out, followed by Daymond and Robert.
The Sharks considered it one of the poorest pitches they had ever seen, and Shuey was so upset that he remarked in the hallway that he’d like to “rail Herjavec in the teeth.” The founders left the pitch without a deal.
After appearing on the show, the founders received interest from some manufacturers and distributors, but not many direct customers. They followed the Sharks’ recommendations and lowered the price to $75 per month and added a consumer financing option. However, the concept never took off, and the company closed in 2015.
Kyle later stated that scaling the business and bringing it to market was difficult due to the challenges of hardware development and the high upfront costs that it required.
As of August 2021, Kyle is a Senior Product Manager at Atlassian, a software company, and Shuey works in sales at Long Home Products, a home improvement contractor.
Competitors of Amber
Advanced Cooling Technologies, Nuro, Lucid Motors, and NAVYA are among Amber’s main competitors.
Net Worth of Amber
The company was valued at $1 million during the pitch, since then the company went out of the business in 2015 and hence the company net worth is unavailable.
Amsber Shark Tank’s Update
Amber is a mobile phone charging station company that appeared on Shark Tank Season 6, seeking a $200,000 investment in exchange for 20% of their business. The company was founded by Bill Shuey and Kyle Byrd, and their product was a free, self-locking cell phone charging station.
The sharks were concerned about the high manufacturing costs and believed that the product was behind the competition, so they all dropped out without making an offer.
After the show, Bill and Kyle continued to grow the business, and they received a lot of interest from potential investors. However, despite their efforts, Amber ultimately went out of business in 2015.
As of August 2021, Bill is in sales at Long Home Products, a home improvement contractor, and Kyle is a Senior Product Manager at Atlassian, a software company.
As of 2023, the name Amber has vanished from the web, and their website, Facebook, and Twitter pages have been deleted. It appears that the company is no longer in operation.
The Following Table Summarizes Amber Shark Tank’s Net Worth in 2023:
| INFORMATION | DETAILS |
| Company name | Amber |
| Founders | Bill Shuey and Kyle Byrd |
| Product | Mobile phone charging station |
| Shark Tank appearance | Season 6, seeking $200,000 for 20% |
| Valuation during pitch | $1 million |
| Outcome on Shark Tank | No deal |
| Competitors | Advanced Cooling Technologies, Nuro, Lucid Motors, NAVYA |
| Net worth | Unavailable (the company went out of business in 2015) |
| Current status | Company is no longer in operation |
| Amber (fossilized tree resin) | Used in jewelry and folk medicine |
Amber FAQs
What Is Amber?
Amber is a fossilized tree resin that has been appreciated for its natural beauty since Neolithic times. It is found throughout the world, but the largest and most significant deposits occur along the shores of the Baltic Sea in sands that are 40 million to 60 million years old.
Amber occurs as irregular nodules, rods, or droplike shapes in all shades of yellow with nuances of orange, brown, and, rarely, red. Milky-white opaque varieties are called bone amber.
The turbidity of some amber is caused by inclusions of many minute air bubbles. Frequently, amber has fossil insects or plants embedded in it.
Amber is used in jewelry and has been used as a healing agent in folk medicine1. Amber is an amorphous (non-crystalline) mixture of organic compounds, including hydrocarbons, resins, succinic acid, and oils.
Most of this substance comes from the preserved resin of the pine species Pinus succinifera, although other ancient tree species have also produced the material. Amber has been shown to be related to a modern leguminous tree, Hymenaea.
In conclusion, amber is a fossilized tree resin that is found throughout the world, but the largest and most significant deposits occur along the shores of the Baltic Sea. It is used in jewelry and has been used as a healing agent in folk medicine.
Amber is an amorphous mixture of organic compounds, including hydrocarbons, resins, succinic acid, and oils, and most of this substance comes from the preserved resin of the pine species Pinus succinifera.
What Happened To Amber After Shark Tank?
Amber is a mobile phone charging station company that appeared on Shark Tank during Season 6. The company was seeking a $200,000 investment in exchange for 20% equity, but none of the Sharks were interested in investing in the company, and it did not receive a deal.
After the show, Amber worked on multiple prototypes of the charging stations and presented them to potential investors in the United States. However, they were unable to secure any agreements with manufacturers or distributors, and the concept never really took off. The firm went bankrupt in 2015.
As of 2023, the name Amber has pretty much vanished from the web. The company’s website, Facebook, and Twitter pages have been deleted, and there is no recent news about the company.
Despite not receiving a deal on Shark Tank, the founders of Amber continued to grow the business. However, it seems that the company was ultimately unable to succeed in the highly competitive mobile phone charging station market.
Did Amber Receive Any Investment After Shark Tank?
Amber, a mobile phone charging station company, did not receive any investment from the Sharks during their appearance on Shark Tank in 2014.
After the show, the founders worked on multiple prototypes of the charging stations and presented them to potential investors in the United States. However, they were not successful in securing funding. Despite not landing a deal on the show, the founders continued to grow the business.
However, Amber ultimately went out of business in 2015, having never delivered a single product. As of 2023, the company’s website, Facebook, and Twitter pages have been deleted, and its name has vanished from the web.
Did Amber Receive Any Investment During Their Shark Tank Pitch?
Amber, a mobile phone charging station company, did not receive any investment from the Sharks during their appearance on Shark Tank. The founders were seeking $200,000 for 20% equity in their business, which was valued at $1 million during the pitch.
The Sharks were not interested in investing in the company, and they left the show without a deal. After the show, the founders worked on multiple prototypes of the charging stations and presented them to potential investors in the United States.
However, they were not successful in securing funding. The company went out of business in 2015, having never delivered a single product. Despite receiving inquiries about buying units and people being interested in investing in the company, the founders were not able to keep the business afloat.
What Was The Outcome Of Amber’s Pitch On Shark Tank?
During their pitch on Shark Tank, Amber, a mobile phone charging station company, did not receive any investment from the Sharks. The founders of Amber, Bill Shuey and Kyle Byrd, were seeking a $200,000 investment in exchange for 20% equity in their company.
The Sharks criticized the product, with Lori Greiner believing that it was lightyears behind the competition, and all of the Sharks ultimately dropped out without making an offer.
After the show, the company continued to struggle to secure funding and ultimately went out of business in 2015, having never delivered a single product.
What Were The Reasons For The Sharks Not Investing In Amber?
During their pitch on Shark Tank, the Sharks did not invest in Amber, a mobile phone charging station company, for several reasons.
The manufacturing costs for a single unit were high, at about $1,000, which the Sharks found to be too expensive. Lori Greiner believed that the product was behind the competition and dropped out without making an offer.
Daymond John and Robert Herjavec were also not interested in investing in the company. The Sharks criticized the company’s concept, and they left the show without any deal.
After the show, the company continued to work on prototypes of the charging stations and presented them to potential investors in the United States.
However, they were not successful in securing funding. The company went out of business in 2015, having never delivered a single product.
Who is the founder?
Amber Phone Charging, founded in 2014 by Kyle Byrd and Bill Shuey. Kyle holds a Bachelor of Science in Industrial Design.
How much were asking on Shark Tank?
They asked $200,000 for 20% of their company at value of $1 million.
How much did they get?
They did not make a deal on the show and hence they left with no money.
Is Amber still in business?
No, the company went out of business in 2015.
What is Amber’s phone number?
The phone number to reach Amber is unavailable.
Was Amber a scam?
No, the company is not a scam since the founders were graduates of James Madison University.
What were Amber products?
Amber products were the first public-access phone charging stations.
How much does it cost?
One can purchase the unit for $2,000 or lease it for $150 per month.
What is Amber’s range?
Amber is a single unit that takes up a phone while it charges.
How many employees?
The company employees are unknown.
What is the website?
The company’s website is unavailable.
What does Amber charge for?
Amber charges users a monthly or yearly fee for their services, depending on what package it provides, which products are included, and how long the unit will last for.
Was Amber compatible with all phones and gadgets?
Yes, it works with all iPhones and Androids.
Was Amber profitable?
No, it was not profitable since the company went out of business.
What is Amber’s revenue?
Amber had not earned any revenue before they appeared on Shark Tank.
Where are Amber phones available?
One can find these charging stations in large concert halls and stadiums, such as Hollywood Bowl and Queen Elizabeth Olympic Park.
Was Amber safe?
Amber was said to be safe, since the phone does not charge if it is unlocked.
What is the charger’s size?
The charger is small enough to conceal from a person and difficult to extract from it.
How many hours does it take to charge a phone?
Amber provides three hours of charging per 15 minutes if a person wants to charge their phone.
How does Amber work?
Amber monitors the current level of the battery in a user’s phone and stops charging as soon as the battery reaches critical levels.
Where are the founders of Amber now?
Kyle Byrd is a Senior Product Manager at Atlassian, a software firm. Bill Shuey works in sales at Long Home Products, a home improvement contractor.
What is the net worth of Bill Shuey?
The net worth of Bill Shuey is unavailable.
What is the net worth of Kyle Byrd?
The net worth of Kyle Byrd is unavailable.
