Brake Free Helmet Light Shark Tank Net Worth 2023
The company, which had a valuation of $2 million during the pitch and has since rebranded to BadAss Helmet, is still operating as of January 2022 with an impressive annual revenue of $3 million – an increase in net worth from its original value.
This growth in business proves it to be a success, indicating that despite the turbulent nature of the market, it is still booming and succeeding in its field.
What is Brake Free Helmet Light?
The Brake Free is a helmet accessory that can be detached from the helmet and is designed to increase the visibility and safety of riders on the road. This device has the ability to detect a decrease in speed of the motorcycle and it can be easily installed on most helmets without the need for any additional applications.
Since the components of Brake Free are removable, they can be used on multiple helmets by different users. It was invented by Henry Li and Alexander Arkhangelskiy, who are both motorcycle enthusiasts.
Henry Li has previously worked as a mechanical engineer for several companies such as Wolfe Engineering, zSpace 3D, Fitbit, and castAR. On the other hand, Alexander Arkhangelskiy has worked for Parrot Cellular, EGO Boutique, and AT&T before starting his own business with Henry Li.
Who is the founder of Brake Free Helmet Light?
Brake Free was established by Henry Li and Alexander Arkhangelskiy, who share a passion for motorcycles.
While working for a tech entrepreneur in Silicon Valley, Li conceived the idea for the device out of concern for motorcycle safety. He assembled a team to assist with its development, and the first prototype was completed in 2014.
Unlike traditional motorcycle lights, which are often too low and small to be seen by other drivers, Brake Free is mounted at eye level on the helmet, making it a safer option.
The device features a series of miniature LED lights that become brighter when the motorcycle is braking or decelerating. It is designed to attach to any motorbike helmet without the need for additional equipment and is completely wireless.
Brake Free is an intelligent brake light that “knows” when to light up, thanks to a combination of gyrometers, accelerometers, and a unique braking detection algorithm. The company gained momentum in April 2017 with a successful $259,797 IndieGoGo campaign.
However, there were manufacturing and shipping challenges that caused some pre-orders to be delivered as late as spring 2020.
Brake Free is now available for purchase on their website for $169.99, and the company offers several accident protection programs.
What Happened to Brake Free Helmet Light at Shark Tank pitch?
In episode 1125 of Shark Tank, Henry Li and Alex Arkhangelskiy are seeking a deal for their product, Brake Free, which is a smart LED brake light designed for motorcycle helmets. However, the duo is facing challenges with the manufacturing process and is looking for a Shark who can assist them in this area of the business.
During the presentation, Henry and Alex request $200,000 in exchange for a 10% stake in their company, which is currently valued at $2 million.
They share their narrative and distribute product samples, while also informing the Sharks of their IndieGoGo sales and expenses. Each unit costs $43 to produce and sells for $169, and they hope to use the investment to scale up their production.
Barbara expresses interest due to her personal experience with her brother being paralyzed in a motorcycle accident, but she ultimately decides not to invest because she doesn’t believe the product will sell well. Lori likes the product but declines to invest in high-risk ventures that involve liability.
Robert, however, sees the potential and offers $200,000 for a 20% equity stake in the company. The entrepreneurs then inquire whether Mark would be interested in collaborating, and the Sharks agree.
In the end, they strike a deal with both Mark and Robert for $200,000 in exchange for a 20% equity stake, and they leave the pitch with the investment from two Sharks.
What Happened to Brake Free Helmet Light after Shark Tank?
After two Sharks agreed to invest in their pitch, the gentlemen left without concluding a deal with Mark and Robert. The money wasn’t important to them.
As of June 2021, they had sold more than 7000 units, generating over $1 million in sales six months after their December 2020 broadcast. Although they are currently only selling in the United States, they aspire to become a global brand in the future.
As of January 2022, the company is still operating and has achieved an annual revenue of $3 million.
Net Worth of Brake Free Helmet Light
The company valuation was $2 million during the pitch, since then the company is still operating as of January 2022 with annual revenue of $3 million and hence the company net worth had elevated.
Brake Free Helmet Light FAQs
What is Brake Free Helmet Light?
Brake Free is a removable helmet device meant to make riders more visible and safer on the road. Brake Free detects when a bike’s speed reduces and is wireless, app-free, and simple to install on most helmets. Because the components are removable, they may be utilized by numerous helmets or users.
Who is the inventor?
Henry Li and Alexander Arkhangelskiy, two motorcycle aficionados, invented Brake Free.
How much were they seeking on Shark Tank?
They were seeking for $200,000 in exchange for 10% stake of their company, which was worth $2 million.
Did they have the deal?
Yes, they did. They exited the pitch with a deal from Mark Cuban and Robert Herjavec.
How much did they invest?
They invested $200,000 for 20% equity stakes of the company, but they never closed the deal.
Is Brake Free Helmet Light still in business?
Yes, Brake Free is still in business as of January 2022.
How much revenue Brake Free Helmet Light?
They generated $3 million in sales as of January 2022.
Where is Brake Free Helmet Light located?
They are based in San Francisco, California.
What is Brake Free Helmet Light website?
Their website is http://www.brakefreetech.com/
Does Brake Free Helmet Light really work?
Yes, they are operational as a product and are being sold successfully.
Is Brake Free Helmet Light shipping?
Yes, they ship all over the world.
What is the price of Brake Free Helmet Light?
The retail price of Brake Free Helmet Light as of January 2022 is $169.
Where do I find Brake Free Helmet Light?
Their product is sold on their website and Amazon.
What does the Brake Free Helmet Light headset look like?
The headset consists of three buttons, and it is easily attached to any helmet with a rear vent. The buttons are used to release the brake light from the helmet and to change colors between red, yellow, and green (the colors indicate how much braking your bike is doing).
What is the mechanism of Brake Free Helmet Light?
There are three buttons on the headset, which are used for releasing of brake light and changing colors.
How does the Brake Free Helmet Light work?
Brake Free is a high-intensity smart LED brake light that rapidly increases visibility on a motorbike. It attaches to the rear of the existing helmet, and its sensors automatically notify others anytime they slow down braking, engine braking, or downshifting. Brake Free is now available for purchase!
What does it indicate when Brake Free Helmet Light illuminates?
When the brake light illuminates, it means that the vehicle is either low on braking fluid, the emergency brake has been engaged, there is a problem with the ABS unit, or there is an issue with the sensors. Most automobiles feature a sensor that detects whether or not the parking brake is applied.
How do I pay for Brake Free Helmet Light?
Customers can pay for it using credit cards, PayPal, and bank transfers.
Where are the founders now?
Henry Li, who has a technical background, is the co-founder of Brake Free Helmet Light. Alexander Arkhangelskiy, who has an advertising background, is the co-founder of Brake Free Helmet Light.
How much does Henry Li worth?
As of January 2022 Henry Li net worth is not available.
How much does Alexander Arkhangelskiy worth?
As of January 2022 Alexander Arkhangelskiy net worth is not available.
