Origaudio is a company founded in 2010 by Jason Lucash and Michael Szymczak. In 2011, they appeared on Season 2 of Shark Tank and made a deal with Robert Herjavec for $150,000 in exchange for 15% equity. At that time, their net worth was $1 million. Since their Shark Tank pitch, OrigAudio has witnessed significant growth, with annual sales revenue reaching $19 million in 2022. The company has expanded its product line and currently has 25-30 employees. The founders, Jason Lucash and Michael Szymczak, have a net worth of $16 million as of 2023.
Key Takeaways:
- Origaudio appeared on Season 2 of Shark Tank in 2011.
- They secured a deal with Robert Herjavec for $150,000 in exchange for 15% equity.
- Their net worth was $1 million at the time of their Shark Tank pitch.
- Origaudio’s annual sales revenue reached $19 million in 2022.
- The founders, Jason Lucash and Michael Szymczak, have a net worth of $16 million as of 2023.
OrigAudio’s Journey on Shark Tank
During their pitch on Shark Tank, OrigAudio showcased their groundbreaking vibration technology that can transform any empty container into audio speakers. Seeking a $150,000 investment for a 15% equity stake, co-founders Jason Lucash and Michael Szymczak secured a deal with renowned Shark Tank investor Robert Herjavec. This pivotal moment marked a turning point for OrigAudio, setting the stage for their impressive success.
With Jason Lucash as the CEO and Michael Szymczak as the Director of Marketing, the founders have played instrumental roles in driving the growth of OrigAudio. Their entrepreneurial vision and dedication have propelled the company to new heights. As a result, they have achieved a net worth of $16 million, reflecting their exceptional achievements in the business world.
Key Accomplishments
- Securing a deal on Shark Tank with Robert Herjavec
- Transforming innovative vibration technology into a marketable product
- Expanding the product line to cater to diverse consumer needs
- Growing annual sales revenue to reach $19 million in 2022
Their appearance on Shark Tank not only provided a significant financial boost but also validated OrigAudio’s unique value proposition. It allowed them to gain exposure, credibility, and access to a wider customer base. The founders’ ability to effectively pitch their product and secure a deal with a prominent investor speaks volumes about their ingenuity and business acumen.
Overall, OrigAudio’s journey on Shark Tank showcases their determination, innovation, and unwavering commitment to success. It serves as an inspiring example for aspiring entrepreneurs, highlighting the potential for exponential growth that can result from a captivating pitch and a well-executed business strategy.
| Key Accomplishments | Details |
|---|---|
| Secured a deal on Shark Tank | Robert Herjavec invested $150,000 for 15% equity |
| Technology Innovation | Vibration tech that transforms any empty vessel into audio speakers |
| Product Line Expansion | Diverse range of products to cater to consumer needs |
| Impressive Revenue Growth | Annual sales revenue reached $19 million in 2022 |
OrigAudio’s Continued Success and Growth
Since their appearance on Shark Tank, OrigAudio has achieved remarkable success and witnessed consistent growth in their revenue. The company’s commitment to innovation and high-quality products has been pivotal to their continued triumph in the market.
In 2011, OrigAudio reported a lifetime sales of $750,000, laying the foundation for their future achievements. However, their annual sales revenue skyrocketed to an impressive $19 million by 2022, a testament to their unwavering dedication and entrepreneurial acumen.
OrigAudio’s success story is not confined to their financial accomplishments alone. They have expanded their product offerings, gaining recognition and appreciation from consumers and industry experts alike. Their ability to captivate customers with their innovative audio solutions has propelled them to the forefront of the industry.
OrigAudio’s journey from their remarkable debut on Shark Tank to their current status as a thriving business showcases the passion and determination of their founders, Jason Lucash and Michael Szymczak. Their continuous drive and visionary leadership have led to the company’s impressive earnings and the realization of their entrepreneurial dreams.
FAQ
How was OrigAudio’s net worth affected by their appearance on Shark Tank?
OrigAudio had a net worth of $1 million before they appeared on Shark Tank. After securing a deal with Robert Herjavec, their net worth increased to $16 million.
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What was OrigAudio’s pitch on Shark Tank?
OrigAudio presented their vibration tech that turns any empty vessel into audio speakers. They asked for $150,000 for 15% equity and secured a deal with Robert Herjavec.
Who are the founders of OrigAudio?
OrigAudio was founded by Jason Lucash and Michael Szymczak in 2010. They continue to lead the company as CEO and Director of Marketing respectively.
How has OrigAudio’s revenue grown over the years?
OrigAudio reported a lifetime sales of $750,000 in 2011. As of 2022, their annual sales revenue reached $19 million.
How many employees does OrigAudio have?
OrigAudio currently has 25-30 employees.
What are OrigAudio’s key accomplishments?
OrigAudio’s key accomplishments include their appearance on Shark Tank and their ability to secure a deal, which has propelled them to become a thriving business.
How has OrigAudio continued to grow and succeed?
OrigAudio has expanded its product offerings and gained recognition in the industry. Their yearly sales figures and positive feedback from consumers are clear indicators of their growth and success.