IllumiBowl Shark Tank Net Worth
IllumiBowl is a motion-activated toilet light company that appeared on Shark Tank. During the pitch, they asked for $100,000 for a 15% stake in the company. The company’s net worth was $666,667 at the time of the pitch and was valued at $400,000 after Kevin’s investment.
As of 2022, IllumiBowl has a net worth of $1.4 million. The founders of IllumiBowl are Matt Alexander and Michael Kannely.
What is IllumiBowl and Who is the founder of IllumiBowl?
IllumiBowl is a brand that offers bathroom lighting for night use that can be attached to the toilet bowl. The lights are self-powered and can emit various colors, while also having antibacterial properties.
The founder of IllumiBowl is Matt Alexander, who was a Brigham Young University student studying entrepreneurship. He came up with the idea for IllumiBowl because he frequently woke up in the middle of the night to use the bathroom and had difficulty locating the light switch.
After launching a Kickstarter campaign that raised over $95,000 from more than 3,000 backers, Alexander and his partner Mike Kannely were able to complete the prototype and fulfill pre-orders. The product is priced at $19.99 and has sold over 50,000 units, generating over $1 million in revenue.
Although the product is available on Amazon, Alexander hopes to see it in physical stores. The company had some manufacturing issues with its initial run, but they have since implemented a 100 percent satisfaction guarantee for its customers.
They are also developing a germicidal lamp to clean the toilet while the IllumiBowl is in use.
IllumiBowl Shark Tank pitch
During their Shark Tank pitch in season 7 episode 21, Matt Alexander and Michael Kannely present IllumiBowl, a toilet night light that emits different colors. They seek help from the Sharks to manufacture and distribute their product to a mass market.
They offer $100,000 for a 15% stake in their company, which is valued at $666,667. The Sharks are amused by their presentation and inquire about the product’s features.
After discussing the benefits of their product and the costs of manufacturing and assembly, Kevin O’Leary offers $100,000 for a 25% equity stake in the company, which the entrepreneurs accept.
After the show, they began selling IllumiBowl in smaller local stores and franchisees and gradually expanded to larger retailers, with Kevin O’Leary’s assistance.
Since appearing on Shark Tank, they have sold over one million devices and have continued to grow their business.
In a Season 8 update, it is revealed that the IllumiBowl is now available for $14.99 on Amazon, and the entrepreneurs and their Shark partner are pleased with the success of their product.
Table Summary: Illumibowl Shark Tank
| INFORMATION | DETAILS |
| Company Name | IllumiBowl |
| Founders | Matt Alexander and Michael Kannely |
| Product | Motion-activated toilet light for night use |
| Net Worth on Shark Tank | $666,667 |
| Shark Tank Ask | $100,000 for 15% stake |
| Shark Tank Deal | $100,000 for 25% equity with Kevin O’Leary |
| Valuation after Shark Tank | $400,000 |
| Net Worth in 2021 | $1.4 million |
| Units sold | Over one million |
| Revenue | Over $2 million in yearly revenue |
| Price of product | $14.99 |
| Distribution | Smaller local stores, franchises, Ace Hardware, True Value, and Bed Bath & Beyond |
| Guarantee | 100% satisfaction guarantee |
| Future Product Development | Germicidal lamp to clean the toilet while the IllumiBowl is in use |
IllumiBowl Shark Tank Updates
IllumiBowl is a motion-activated toilet light company that appeared on Shark Tank in season 7, episode 21. The founders, Matt Alexander and Michael Kannely, asked for $100,000 for a 15% stake in the company.
Kevin O’Leary made a deal with them for $100,000 for 25% equity. After the show, they began selling IllumiBowl in smaller local stores and franchises and gradually expanded to larger retailers, with Kevin O’Leary’s assistance.
They struck deals with Ace Hardware, True Value, and Bed Bath & Beyond. Since appearing on Shark Tank, they have sold over one million devices and have continued to grow their business.
In a season 8 update, it was revealed that the IllumiBowl is now available for $14.99 on Amazon. Despite competing products on the market, they are making up to $2 million in yearly revenue. The price for the product was reduced shortly after appearing on Shark Tank.
The IllumiBowl now comes with a 100% satisfaction guarantee. The entrepreneurs and their Shark partner, Kevin O’Leary, are pleased with the company’s net worth, which was $666,667 at the time of the pitch and was valued at $400,000 after Kevin’s investment.
They are also developing a germicidal lamp to clean the toilet while the IllumiBowl is in use.
Net Worth of IllumiBowl
The company’s net worth was $666,667 during the pitch, after the investment done by Kevin the company was valued at $400,000. In 2021 the company has a net worth of $1.4 million.
IllumiBowl FAQs
What Is Illumibowl Shark Tank?
IllumiBowl is a toilet night light that illuminates the inner bowl of a toilet when someone approaches the bathroom in the dark. It was founded by Matt Alexander and Michael Kannely in Provo, Utah, and they raised $95,970 in November 2014 to bring the product to market.
llumiBowl fulfilled its Kickstarter in August 2015. On March 11, 2016, IllumiBowl was featured on ABC’s television show Shark Tank, and it successfully secured a deal with investor Kevin O’Leary.
During their Shark Tank pitch, Matt and Michael sought $100,000 for 15% of their company. They explained the dangers of “going it alone in the dark” and demonstrated how IllumiBowl works.
The Sharks seemed amused when the entrepreneurs said their “main priorities are number one and number two”. Kevin O’Leary offered $100,000 for 25% equity, and Matt and Michael accepted the deal.
Since appearing on Shark Tank, IllumiBowl has partnered with Kevin O’Leary and is now sold nationwide in Bed Bath and Beyond. The price has come down since Shark Tank, and IllumiBowl is now available on Amazon for $14.99, a $5 reduction from the original $19.99 price tag.
Matt credits Kevin O’Leary with being “very involved” with the company, acting as a go-between with retailers and using his contacts to expand the product’s market.
How Does Illumibowl Shark Tank?
IllumiBowl is a motion-activated LED light that clips onto the side of a toilet and shines a soft light into the bowl, eliminating the need for bright lights in the middle of the night.
The product was featured on Shark Tank in March 2016, where the creators, Matt Alexander and Mike Kannely, sought $100,000 for 15% of their company. Kevin O’Leary made a deal with them for $100,000 for 25% of the company.
After the Shark Tank appearance, IllumiBowl started by finding its way into smaller local stores and individual franchises like True Value and is building toward getting shelf space in larger retailers.
The company has sold several hundred thousand units since the original airing of its Shark Tank episode. Despite competing products on the market, IllumiBowl is making up to $2 million in yearly revenue.
The success of IllumiBowl is attributed to their association with Kevin O’Leary and his ability to negotiate with retailers, as well as his development and marketing skills.
The company signed an exclusive distribution contract with Bed Bath & Beyond after the Shark Tank deal was in place. IllumiBowl has customized dimming, a 100,000-hour lifespan, and is motion-activated.
What Happened To Illumibowl After Shark Tank?
IllumiBowl is a toilet night light that was featured on Shark Tank in 2016. The founders, Matt Alexander and Mike Kannely, entered the show seeking $100,000 for 15% equity in their company.
Kevin O’Leary made a deal with them, offering $100,000 for 25% equity. Since then, IllumiBowl has been sold nationwide in Bed Bath and Beyond, as well as other large retail outlets such as Ace Hardware and True Value.
IllumiBowl has sold several hundred thousand units since its appearance on Shark Tank. The company has also begun developing new products, such as the IllumiSink, which is a motion-activated light for sinks.
Matt credits the success of IllumiBowl to their association with Kevin O’Leary and his ability to negotiate with retailers, as well as his development and marketing skills.
In summary, IllumiBowl has been successful since its appearance on Shark Tank, with its products being sold in large retail outlets and the development of new products. The founders credit their success to their partnership with Kevin O’Leary.
Is Illumibowl Shark Tank Still In Business?
Yes, IllumiBowl from Shark Tank is still in business. The company was founded by Matt Alexander and Michael Kannely while they were still students at BYU and received early funding from Kickstarter.
During their pitch on Shark Tank, they asked for $100,000 for a 15% stake in the company and received a deal with Kevin O’Leary for $100,000 for 25% equity. Since appearing on Shark Tank, they have sold over one million devices and have continued to grow their business.
IllumiBowl is a motion-activated toilet light that helps people see in the bathroom without bright lights to wake them up. The product was featured on ABC’s Shark Tank on March 11, 2016, and partnered with Kevin O’Leary.
The company is now sold nationwide in Bed Bath and Beyond. In October 2017, the company was acquired by Spark Innovations, LLC for an undisclosed amount.
What Is The Current Valuation Of Illumibowl After Shark Tank?
IllumiBowl appeared on Shark Tank in March 2016 and asked for $100,000 for 15% equity. Kevin O’Leary offered $100,000 for 25% equity, which was accepted by the founders, Matt Alexander and Michael Kannely. In October 2022, IllumiBowl’s net worth is $1.4 million.
Despite competing products on the market, IllumiBowl is making up to $2 million in yearly revenue. The price for the product was reduced shortly after airing, and Kevin O’Leary is involved with the entire process. Customers can purchase a toilet night light on the IllumiBowl website.
How much were asking on Shark Tank?
They were asking for $100,000 for 15% of the company.
Did they have the deal?
Yes, they did. They got the deal with Kevin O’Leary at a price of $100,000 for 25% equity in the IllumiBowl.
How much does it cost?
The device sells for $14.99 on Amazon and other online retailers.
What is IllumiBowl’s mission?
The company’s mission is to provide night lighting so that consumers can turn on a light while they take a bath or in the toilet.
How does IllumiBowl work?
IllumiBowl illuminates the water’s surface when activated. The light will turn off automatically after 20 seconds or by flushing. Motion sensor activates at night to provide hands-free light for finding toilet paper, sitting, and standing.
How can I change the color of my IllumiBowl?
To change the color of their IllumiBowl, push the side button, and it will freeze on the color that is visible when they press it. To restart the color cycle, push the button one more.
How do I change the brightness of my IllumiBowl?
To alter the brightness level on their IllumiBowl toilet night light, just press and hold the button until the brightness level changes. It will alternate between three distinct brightness settings.
How can I make the arm suit my toilet?
Simply measure the arm against the top rim of their toilet bowl and bend it on each side of the rim to specifically suit their toilet. Remove it from the rim and bend both sides to 90 degrees before placing it on their toilet; it will fit perfectly.
Where can I find a replacement?
Please contact them at contact@illumibowl.com for a replacement (within 90 days after purchase)!
What is the net worth of Matt Alexander?
Matt Alexander’s net worth is $700,000.
What is the net worth of Michael Kannely?
Michael Kannely’s net worth is unknown.
