Emazing Lights Shark Tank Update | Emazing Lights after the Shark Tank
What is Emazing Lights? Who Founded Emazing Lights?
Emazing Lights, founded in 2010 by Brian Lim, is a company that specializes in selling lightshow equipment, engineering gloves, light sticks, poi, orbits, and clothing through an e-commerce platform.
They also actively promote the underground art form of Gloving through various events, competitions and workshops.
The company was recognized for its success in 2013, and listed at #189 on the Inc. 5000 list, due to its 2281% growth rate and $5.8 million in sales.
What happen to Emazing Lights at the Shark Tank?
On Shark Tank season 6 episode 22, Brian Lim, the founder of Emazing Lights, a company that produces and sells LED light gloves, appeared on the show and sought $650,000 for a 5% stake in his business.
He impressed the Sharks with his product and the potential of the EDM industry. Mark and Daymond eventually offered $650,000 for an 8% commission and 20% commission on any licensing deals Daymond brings in, which Brian accepted.
Emazing Lights after the Shark Tank
After Emazing Lights appeared on Shark Tank, the company saw a significant increase in demand for its products. To keep up with this growth, the company hired more employees and expanded its office space.
MGM also began selling Emazing Lights products at six of their Las Vegas casinos. As of August 2021, the company employed 50 full-time workers and had a revenue of $20 million.
Emazing Lights also created the Glove for Glove foundation which donates gloves to disabled festival attendees.
Emazing Lights Competitors
Emazing Lights faces competition from several companies that also produce LED gloves and other related products. Some examples include:
- Shine Brite, an e-commerce start-up based in Las Vegas that produces LED glow sticks, available on their website and popular retailers like Amazon and B&H
- Elite, a company that manufactures LED gloves, available on their website www.elitegloving.com
- SOFACOMPANY, a company that produces high-quality LED gloves with various options, available on online retail platforms such as Amazon and eBay, and also provides tutorials on how to use their products
- Manus, a company that creates LED gloves similar to Emazing Lights, available on popular online retailers like Amazon and eBay, and tutorials on how to use them
- Light Doctor, another manufacturer of LED gloves, with a price range of $40 to $60 and available on various online retail platforms like Amazon and eBay.
Emazing Lights Net worth
When Brian Lim, the founder of Emazing Lights, appeared on Shark Tank, his net worth was estimated to be $13 million. As of now, his net worth is reported to be $50 million.
FAQS of Emazing Lights
Who is Brian Lim?
Brian is a serial entrepreneur who has successfully bootstrapped three online firms, including iHeartRaves, EmazingLights, and INTO THE AM, which have merged to become The Emazing Group.
These brands have annual revenue in excess of $20 million.
Brian got offers from all five sharks during his appearance on ABC’s Shark Tank season 6, but ultimately accepted a deal from Mark Cuban for $650,000 in return for 5% interest in the firm and a licensing contract from Daymond John for 20% of earnings.
Brian has been highlighted in a number of different of prominent publications, including Business Insider, CNN, Yahoo Finance, MSN Money, CNBC, Elite Daily, BBC, Entertainment Weekly, CBS, Inc., Vice, and the Huffington Post.
Additionally, his businesses have been included in the annual “Inc 500” list for the last six years.
What happened to Emazing Lights before shark tank
EmazingLights, LLC is a retail firm located in California that was started in 2010 by CEO Brian Lim.
It is most known for its light display gloves, which are worn by contemporary dancers during rave and electronic dance music festivals.
EmazingLights’ mission is to transform gloving and other forms of light show performance into a skilled exhibition of art and competition.
The firm is ranked #189 on the Inc. 5000 for attaining a 2281 percent growth rate in its first three years of operation and generating $5.8 million in revenue in 2013.
On March 13, 2015, founder Brian Lim participated as a competitor on ABC’s reality competition series Shark Tank.
Lim accepted a $650,000 offer from sharks Mark Cuban and Daymond John in exchange for 5% stock in the firm and 20% of income generated through licensing arrangements.
What was the deal from shark tank?
He accepted a $650,000 investment from Mark Cuban in return for a 5% stake in the firm, as well as a license agreement with Daymond John for a 20% portion of earnings.
What are the company’s objectives?
Believing in the importance of developing the EDM community’s culture has driven them to work hard to give clients with the option to exhibit their own unique style.
What Does the Future Hold for EmazingLights?
Their noteworthy accomplishments include a collaboration with MGM hotels and the addition of four additional locations in the United States and one in Canada.
How Brian did started the company?
He began with a $100 selling out of the trunk of his car and grew it into the EmazingGroup, a 50-person business.
Why did Brian decide to make an investment in EmazingLights?
According to the famed entrepreneur, he invested in EmazingLights because he recognized tremendous potential in the e-sports firm, which manufactures a glove with LED lights on the fingers for dancing and competitive e-sports.
Which businesses do they serve?
They work with organizations ranging from brick-and-mortar startups to Fortune 500 firms, streamlining the employment process for: Transportation Companies Hospitals & Centers for Assisted Living Convenience & Grocery Stores Restaurants ranging from quick service to fine dining Parks, stadiums, and arenas Manufacturers / Distribution Centers Stations de benzin Festivals Salons & Gyms Accommodations, Resorts, and Wineries
How was the Emazinglights Shark Tank presentation?
Brian then showcases the things he has brought in by donning an unusual set of gloves and an unusual choice of headgear.
How much revenue does Emazing generate?
Kevin then inquires about Emazing’s sales, and since its inception over four years since launched, Emazing has made $13 million in income only from sales.
How did Brian become involved in business?
He began the firm in 2010 with a $100 investment and set out to perform light shows at parties using his LED gloves.
What is the Cost of Emazing Lights?
The gloves range in price from $12 for an entry-level pair to $100 for a luxury pair.
What was the deal?
Deal was with Mark and Daymond for $650K in exchange for an 8% + 20% fee on all license transactions.
How much was Brian seeking?
Brian appears dressed as the Emazing Lights mascot and asked $650K for a 5% stake in the firm.
What is the business’s next step?
Mark believes that worldwide expansion is the next step.
What episode is Emazing Lights on Shark Tank
Brian was on season 6 Episode 22 of ABC’s Shark Tank (March 13, 2015) where he sought investment of $625,000 for 5% company equity from the five sharks.
What are the features of Emazing Lights products?
Emazing Lights gloves are lightweight, provide comfortable grip, and are adjustable for one-size-fits-all.
The battery pack can be detached and reattached to any of the gloves.
The kit includes a clip which attaches to your pants and allows you to hold it in your hand while performing.
What are the benefits of Emazing Lights products?
EMazing Light’s primary goal is to provide high-quality products at an affordable price under $100. The gloves are designed with comfort and ease of use in mind, while still remaining durable for maximum performance.
Is the product patented or exclusive?
The product is both patented and exclusive.
What is target market?
The company’s products are primarily marketed towards electronic dance music (EDM) enthusiasts and dancers.
The gloves can be used by those who wish to hone their skills as an EDM performer. They can also be used as a recreational toy for those who wish to simply express themselves through light shows during a gathering with friends and family members.
How much does your product cost?
The current price for all of Emazing Lights gloves range from $65 to $95.
How did you become successful?
The company was founded in 2010 by Brian Lim, a former investor at Streamy. It was originally a side project, but the company’s success and growth caused it to move into the spotlight.
How do you handle shipping?
The shipping is currently free in the U.S., and for all other places it depends on weight and distance.
What is your company’s strategy for growth?
The company will continue to provide low-cost, high-quality products at a reasonable price.
The company has plans to expand its business model by releasing LED gloves under different brands, as well as collaborating with other firms to release additional products.
What is the most popular product?
The most popular item is the company’s basic LED Gloves. The gloves are also customizable, as they include a clip which allows the user to attach the battery pack to their pants or shirt.
How can I contact you?
You can contact Emazing Lights through their website at www.emazinglights.com
What is your company’s vision statement?
The company’s vision is to become a leading innovator and manufacturer of high-quality LED products.
What advice do you have for people starting a business?”
Brian Lim, CEO of Emazing Lights, advises entrepreneurs to “embrace mistakes and failures” because they motivate self-correction. He also says that you should be able to tackle problems from the inside out, instead of the other way around.
What is the most important asset for you?
The most important asset in the company is its LED gloves. The gloves are designed in a way that allows users to express themselves through light shows, both in person and on social media.
Did Emazing Lights secure a deal with Shark Tank?
Yes, in January 2018 they did. They successfully pitched their product and secured a deal with Shark Tank.
The product which on Emazing Lights on shark tank is LED gloves for self-expression.
Was the product on shark tank new or was it already on the market?
The product wasn’t new, but rather t was an improvement over all of the other LED gloves that are already existing in market.
How much did they get from shark tank?
The company received a total of $650,000 from the investors on shark tank for 5% of the company’s equity.
What other products do you make to make money?
The LED gloves are an innovative product designed to allow people to express themselves in a new and creative way.
In addition, the company also offers LED light-up shoes, necklaces, leggings, and more. The available products can be seen on the website at www.emazinglights.com
Do you have to pay for the shipping?
The shipping is currently free in the U.S., and for all other places it depends on weight and distance.
What social media sites do you use?
The company’s primary social media site is Instagram. They also use Facebook and Twitter to communicate with their customers and fans.
On these sites, they promote their products and highlight their capabilities in unique ways through pictures, videos, and graphics.
How do you use Emazing light gloves?
Emazing Light gloves are wearable pieces of technology created to make one’s hand look like a light show.
The gloves can be worn while going on a date, going to the movies, or while going on a trip.
If you’re dancing or performing at a concert, the gloves will allow you to light up your hands and silhouette them for an awesome effect.
How long do Emazing Lights products last?
The LED gloves from Emazing Lights last from 6-10 hours per charge.
How much weight do Emazing Lights products have?
The LED gloves have a weight of less than 0.5 ounces.
How many colours do you have?
Emazing Light’s LED gloves comes with a variety of different colours.
How long can the Emazing lights product last for?
The product comes with a one-year warranty
When do you need to buy new ones?
It is recommended that you purchase another set of gloves once your current gloves run out of charge after about 6-10 hours of charging.