Invisiplug Shark Tank Net Worth
Invisiplug appeared on Shark Tank seeking an investment of $125,000 for 10% equity. At the time of their appearance, Invisiplug was valued at around $1.25 million. The product was a power strip that blended in with hardwood floors.
Despite doing great business and having huge sales numbers after striking a deal with Lori Greiner, Invisiplug went out of business in 2017. Michael Barzman, one of the founders, was caught up in a police case for felony assault with a firearm in July 2016 and pleaded not guilty in November 2016.
As of 2023, Invisiplug’s net worth is unknown because the business is no longer in operation since 2017 and the product is no longer available in the market. The founders’ net worths are also unknown as of 2023.
What was Invisiplug and Who are the Invisiplug founder?
Invisiplug is a surge protector designed to blend in seamlessly with hardwood floors. In contrast to ordinary surge protectors or power strips, Invisiplug comes in three different colors: Natural, Medium Cherry, and Dark Oak. It is available in two sizes: basic and deluxe.
The founders of Invisiplug are Michael Barzman and Bryan O’Connell. They launched the product at Lowes Home Improvement Stores in June 2013 and it is also sold on Amazon.
Barzman and O’Connell came up with the idea for Invisiplug after noticing how unattractive standard power adapters looked in people’s homes. They realized that they could create a product that would blend in with any home décor, and Invisiplug was born.
The product features a plastic, wood grain appearance that complements wood flooring perfectly and costs approximately the same as regular power strips and surge protectors.
Invisiplug Shark Tank Pitch
Bryan and Michael presented Invisiplug on Shark Tank Season 5 Episode 14, seeking $125,000 for a 10% stake in their company, which is valued at $1.25 million.
They had sold about 1,500 units within two months, but Mark decided not to invest, feeling that the product should be more high-end. Robert was hesitant and claimed that he didn’t see a market for the product, while Kevin thought the valuation was too high since the company had not yet made many sales. Barbara liked the product and would have bought three dozen, but she agreed with Kevin on the valuation, and Lori had some questions.
Lori ultimately offered $125,000 for a 10% stake in the company, with a $1 per unit royalty until she recouped her investment and 25 cents per unit in perpetuity. Robert later offered $125,000 for 25% of the company, which was negotiated down to 20%, but the deal fell apart due to disagreements.
Ultimately, Lori invested in Invisiplug, and it became one of her All-Stars. The product was available at Target, Staples, and Amazon.
Michael Barzman, one of the founders, was arrested for felony assault with a handgun in July 2016, and the company went out of business in December 2017. Barzman was arrested again for assault with a handgun in January 2020, and although he entered a guilty plea, the charges were dropped. Currently, he is operating an auction company, while Bryan O’Connell is keeping a low profile. It seems unlikely that the company will receive an individual update in the future.
What is the Net Worth of Invisiplug?
Bryan and Michael appeared on Shark Tank Season 5 Episode 14 in search of $125,000 for a 10% stake in their company. This translates to a $1.25 million valuation.
They accepted an offer from Lori of $125,000 for 10% of the firm plus a $1 per unit royalty until she recoups her investment plus 25 cents per unit in perpetuity thus the same valuation.
The current valuation is unavailable since they are out of business.
Who are the Competitors of Invisiplug?
There are no competitors identified for Invisiplug.
What was Invisiplug?
Invisiplug is a surge protector that is meant to fit in with hardwood floors. Unlike most generic surge protectors (or power strips), Invisiplug is available in three colours: Natural, Medium Cherry, and Dark Oak. Invisiplug is available in two sizes: basic and deluxe.
Who are the Invisiplug Founders?
Michael Barzman and Bryan O’Connell created Invisiplug after being struck by how unpleasant standard power adapters appear in people’s homes.
How much were they seeking in the Shark Tank?
They asked for $125,000 for 10% of their company. This translates to a $1.25 million valuation.
How much did they get?
They received an offer from Lori of $125,000 for 10% of the firm plus a $1 per unit royalty until she recoups her investment plus 25 cents per unit in perpetuity thus same valuation.
Is Invisiplug still in operation?
In November of 2016, the lawsuit was dismissed. The company went out of business in December of 2017.
When was Invisiplug founded?
Invisiplug launched at Lowes Home Improvement Stores in June 2013.
Where was Invisiplug headquartered?
The headquarters of Invisiplug was located at Gloria Ave Encino, CA, USA.
What does Invisiplug do?
The firm manufactures surge protectors that are meant to fit in with hardwood floors and blend into home décor.
Why was Michael Barzman arrested?
On July 2, 2016, Barzman was arrested on felony assault charges after he reportedly pulled a pistol on a man smoking a cigarette outside his home. The case was dismissed three months later.
How much was Invisiplug cost?
The standard model costs $19.99, while the deluxe variant (with two USB ports) costs $29.99.
What is the net worth of Mike Barzman?
Mike Barzman’s net worth is unavailable.
What is the net worth of Bryan O’Connell?
Bryan O’Connell’s net worth is unavailable.
When was Invisiplug featured on Shark Tank?
The pair appeared on Shark Tank on January 17th, 2014.
Where can they buy Invisiplug?
They are no longer in business.
Where are the founders now?
Barzman is operating an auction company as of August 2021, while O’Connell is keeping a quiet profile.