Night Runner Shark Tank Update | Night Runner after Shark Tank
What is Night Runner?
Night Runner is a stylish wearable device that uses LED lights to deter runners from nighttime collisions during their morning jog.
Doug and Renata are co-founders of Night Runner. They came up with the idea for Night Runner Shoe Lights together.
Doug’s adventure began totally by accident in 2013, when he stumbled on a pothole while preparing for his fifth marathon and took a dive. He hobbled home with a sprained ankle and a fresh concept! This is the origin of Night Runner Shoe Lights.
Each device weighs 1.5 oz. and has a battery life of three to five hours. A USB port may be used to recharge the battery. The light itself is brilliant and shoots forward 30plus feet, covering a 270-degree field of vision.
Who is the founder of Night Runner?
Renata is an aspiring entrepreneur. She and Doug have been together for three years, after meeting at a running store.
In 2010 she started running as an exercise and stress relief method, while Doug began his marathon training as a means to lose weight. Doug and Renata are both avid runners, they run together in the morning while her family is sleeping.
The couple is currently seeking funding to manufacture their product on a larger scale. They’ve already made over 100 prototypes for themselves and friends to test. The primary goal of Night Runner Shoe Lights is to reduce the risk of collision with any objects after dark.
Night Runner is a pair of small, waterproof LED lights that clip onto shoes and illuminate the region 30 feet ahead of a runner with a 270 degree swath of light. They simply describe their product as shoe headlights.
The couple began creating the device in 2013 and successfully secured $43,000 through a Kickstarter campaign in early 2015 to fund the first round of manufacture.
The lights enable runners, walkers, and cyclists to see and be seen as they move through the dark. Cars can see the lights well, and the driver can avoid dangers like as curbs and potholes. Furthermore, there is a rear-facing red light to help traffic see you.
The little lights are made of long-lasting LED bulbs that attach to their shoelaces. Additionally, no batteries are required: each item features a simple USB charging connector. Each pair retails for $59.95. The majority of reviews is good, yet one Amazon review states that they will not prevent a skunk from emerging from the woods after dark; believe them on this.
What Happened to Night Runner at Shark Tank pitch?
Renata and Doug decided to pitch their concept to Shark Tank investors in order to raise capital for future production and assistance with mass market retail.
Renata and Doug are seeking $250,000 for a 10% stake in their business, which is valued at $2.5 million. He describes how the product was inspired by a stumble in a pothole while running in the dark.
They distribute samples, which Mark and Lori taste. Mark claims he is unaware they are present.
They explained that they cost $15.50 to manufacture and sell for $30 wholesale.
The recommended retail price is $59.95. They’ve made $260,000 in sales in the eight months they’ve been in business. They anticipate $760,000. Barbara asserts that she has never seen a night runner in New York City, and thus ventures out.
Doug explains that the product would be beneficial for workers who work in the dark; Kevin has developed an interest in the product.
Doug continued by announcing their new worker model, which will be called the Night Shift. It has a ten-hour battery life, compared to the Night Runner’s four-hour battery life.
Robert makes a $250,000 offer in exchange for 30% equity shares. Kevin immediately undercuts him with an offer of $250,000 for a 15% stake in the business.
Lori offers $300,000 for 20% stake in the firm following a hiatus. Robert then amends his offer to $200,000 for 15% plus a loan of $150,000. Mark enters the fray, offering $250,000 at 30% plus unlimited buy order credit.
Renata and Doug enter the hallway to confer about the proposals. While they are out there, the Sharks agree to join forces and give $250,000 to Robert, Kevin, and Lori in exchange for 30% for 10% each.
Doug stated that he was willing to give up a maximum of 20% equity shares. The Sharks split up and return to their individual offers following some arguing.
They accept Robert’s final offer of $250,000 for 15% plus a $100,000 loan once the dust settles.
What Happened to Night Runner after Shark Tank?
Despite the applause on the pitch, the Robert deal never finalized, but it was irrelevant. They made $300,000 in the month after the debut air date and ended the year with $880,000.
Additionally, they received inquiries from over 300 firms interested in the industrial model. The firm changed its name to Night Tech Gear in October, 2021. They generate around $1.5 million in annual revenue.
Competitors of Night Runner
The primary competitor of Night Runner is Bright Response.
Net Worth of Night Runner
The company was valued at $2.5 million during the pitch, after the Robert investment the company was valued at $1.7 million. Since then the company had made a lot of sales with annual revenue of $1.5 million, this show that the company net worth had raise in 2021.
Night Runner FAQs
What is Night Runner?
Night Runner is a pair of small, waterproof LED lights that clip onto shoes and illuminate the region 30 feet ahead of a runner.
Who is the founder?
Renata is an aspiring entrepreneur. She and Doug have been together for three years, after meeting at a running store.
How much were asking on Shark Tank?
They were asking for $250,000 for a 10% stake in their business, which is valued at $2.5 million.
Did they get the deal?
Yes, they got a deal with Robert Herjavec.
How much was the deal?
The deal was $250,000 for 15 percent plus a $100,000 loan.
Is Night Runner still in business?
Yes, they were successful. The company changed its name to Night Tech Gear in October, 2021. They made a lot of sales in the month after the debut air date and ended the year with a net worth of $1.7 million.
What were your sales prior to Shark Tank?
They’ve made $260,000 in sales in the eight months they’ve been in business. They anticipate $760,000.
What happened to Night Runner after Shark Tank?
The company changed its name to Night Tech Gear in October, 2021 and generates around $1.5 million in annual revenue as of June 2021.
How much is Night Runner?
The recommended retail price is $59.95.
What is the website?
There is no website, but one can learn more about them at http://nightrunnerlight.com/ or follow their Facebook page at https://www.facebook.com/nightrunnerlight/.
What is the primary goal of Night Runner?
The lights enable runners, walkers, and cyclists to see and be seen as they move through the dark. Cars can see the lights well, and the driver can avoid dangers like as curbs and potholes. Furthermore, there is a rear-facing red light to help traffic see you.
Are Night Runner Shoe Lights legal?
While the devices are legal to own and operate as intended, they fall under the definition of “street lamps” in Colorado State Statutes. Under this statute it is illegal to use the lights within 100 feet of any road or highway improvement.
How long are the batteries?
The batteries will last around 5 hours, depending on the power setting. The rear light has a lithium battery which lasts for 3 hours when it’s fanned.
What colors are available?
The Night Runner is available in 6 colors; blue, yellow, pink, green and red colors and black. The colors not only help the user to be seen by other drivers but also make them look fashionable while running or walking in the dark.
What can you do with Night Runner?
Night Runner has two main applications: Runners who want to increase their safety during nighttime running and runners who want to save energy from power-hungry headlights of cars.
What is the net worth of Renata Stoner?
The net worth of Renata Stoner is unknown.
What is the net worth of Doug Stoner?
The net worth of Doug Stoner is unknown.
