Ilumi Shark Tank Net Worth (Before and After Shark Tank)

Ilumi, a smart LED light bulb company founded by Corey Egan and Swapnil Bora in 2011, had a net worth of $5 million as of October 2023. They generated an impressive $5 million in annual revenue. In April 2014, they appeared on Season 5 of Shark Tank and made a deal with Mark Cuban for $350,000 in exchange for 25% equity, resulting in a valuation of $1.4 million. This was lower than the initial estimate of $2.3 million by the founders. The Shark Tank appearance significantly boosted the popularity of Ilumi LED light bulbs in the market.

Key Takeaways:

• Ilumi had a net worth of $5 million as of October 2023.
• They made a deal on Shark Tank with Mark Cuban for $350,000 in exchange for 25% equity.
• The valuation of Ilumi after the Shark Tank deal was $1.4 million.
• The Shark Tank appearance increased the popularity of Ilumi LED light bulbs.
• Ilumi generated $5 million in annual revenue.

Ilumi Founders and Key Accomplishments

Corey Egan and Swapnil Bora, the visionary founders behind Ilumi, have achieved remarkable success in their entrepreneurial journey. Both college friends, they established Ilumi in 2011, driven by their passion for creating innovative smart LED light bulbs. As of 2023, the founders boast a combined net worth of $3.75 million, a testament to their dedication and ingenuity.

One of Ilumi’s noteworthy accomplishments occurred in 2014 when Egan and Bora appeared on the hit TV show Shark Tank. Their compelling pitch resonated with the judges, securing a lucrative deal with renowned investor Mark Cuban. This pivotal moment not only brought them a valuable financial partnership but also catapulted Ilumi’s reputation and popularity in the market.

In addition to their success on Shark Tank, Egan and Bora have earned recognition in the industry for their exceptional product and business achievements. They were finalists in the prestigious LEDs Magazine Sapphire Awards in 2016, gaining acclaim for their superior quality and innovation. Furthermore, Ilumi received the coveted Bluetooth Breakthrough Award, solidifying their position as leaders in the smart lighting sector.

Ilumi Key Accomplishments

• Secured a deal with Mark Cuban on Shark Tank
• Finalists in the LEDs Magazine Sapphire Awards
• Recipient of the Bluetooth Breakthrough Award

Another significant milestone for Ilumi was the launch of their IFTTT (If This Then That) platform in 2017. This integration allowed users to further enhance and personalize their lighting experience by connecting Ilumi bulbs with a wide range of other smart home devices and services. The introduction of the IFTTT platform expanded Ilumi’s functionality and solidified its position as a leader in the smart lighting industry.

The unwavering dedication and entrepreneurial spirit of Corey Egan and Swapnil Bora have been instrumental in Ilumi’s success. Their ability to envision and create innovative lighting solutions sets them apart and ensures Ilumi remains at the forefront of the industry.

Ilumi Product Features and Updates

When it comes to smart lighting, Ilumi has revolutionized the game with its innovative smart light bulb. The Ilumi smart light bulb is not just your ordinary light bulb; it’s a vibrant, customizable lighting solution that will transform the ambiance of any space.

One of the standout features of the Ilumi smart light bulb is its programmability. With the accompanying smartphone app, users have the ability to control their lighting wirelessly. Whether you want to create a soothing, warm glow for a cozy night in or set a vibrant, energetic mood for a party, the Ilumi smart light bulb can easily adapt to your preferences.

Ilumi continuously updates its app to enhance user experience and introduce new features. For instance, they have integrated automatic lighting based on circadian rhythm, allowing the bulb to mimic the natural changes in daylight throughout the day. This feature not only adds convenience but also promotes a healthier lifestyle by regulating your body’s internal clock.

In addition, Ilumi has made it possible to control your lights remotely through an internet connection. Imagine being able to turn on your lights before arriving home or adjusting their settings while on vacation. Ilumi has truly taken convenience and accessibility to another level.