OrigAudio Shark Tank Update | OrigAudio after Shark Tank
What is OrigAudio? Who is the founder of OrigAudio?
OrigAudio is a company founded in 2009 by Mike Szymczak and Jason Lucash that creates eco-friendly, folding Bluetooth speakers and headphones.
Their speakers are designed for travel and music lovers, and they have invented a transducer technology that can turn any object into a speaker.
Their first product, the OrigAudio Exo, is a Bluetooth speaker that can be folded into a book-like shape and is easily portable. The company aims to combine eco-friendly technology with high-quality audio.
What Happened to OrigAudio at Shark Tank pitch?
In episode 8 of Season 2 of Shark Tank, the founders of OrigAudio, Mike Szymczak and Jason Lucash, pitched their eco-friendly, folding Bluetooth speakers and headphones to the Sharks in hopes of securing an investment to grow their business through production and distribution.
They asked for $150,000 for a 15% stake in their company, which they valued at $1 million. They demonstrated their transducer technology which could turn any object into a speaker, and their foldable speakers, which had already been sold in over 500 retail outlets and online.
The Sharks were impressed with the product, but were concerned about the competition in the market and the fact that the product was licensed through a Chinese corporation.
Mark Cuban was interested in the percentage of equity the founders were willing to give up, but the other Sharks made their own offers.
Daymond John offered $300,000 for full ownership of the company, Barbara Corcoran offered $150,000 for 25% equity, and Robert Herjavec offered $150,000 for 15% equity. After a brief break to discuss, the founders accepted Herjavec’s offer and left the pitch with a deal.
What Happened to OrigAudio after Shark Tank?
After appearing on Shark Tank, OrigAudio experienced significant growth and success in both retail and online markets. The company received an update during Season 3, Episode 310, in which it was revealed that they had generated almost $4 million in sales.
However, the update did not mention that the deal with Robert Herjavec did not ultimately go through. In 2017, Mike and Jason were awarded Supplier Entrepreneurs of the Year by the Advertising Specialty Institute. In 2018, the company was purchased by Hub Promotional Group for an undisclosed amount.
Both founders, Lucash and Szymczak, continue to hold leadership positions at the company and have been promoted to senior vice president of marketing and product and vice president of business development for HPG respectively. The company rebranded to HPG in 2020 and generated more than $190 million in yearly sales as of 2021.
Competitors of OrigAudio
The company competes with the following opponents in the market space; Weistec Engineering, Element Case, Soundcore, Avanca International, John Hardy USA, Catalyst, Yogibo and Case Logic.
Net Worth of OrigAudio
The net worth of OrigAudio is not publicly disclosed, but it can be inferred that it has grown significantly since its valuation at $1 million during its appearance on Shark Tank. The company has reported annual revenue of $190 million, which suggests that its net worth has increased significantly.
What is OrigAudio?
OrigAudio is an audio technology firm that was created to reshape the way we listen to music. The company uses recycled, sustainable materials and environmentally friendly technology in all of their products.
Who is the founder?
Mike Szymczak and Jason Lucash started the audio technology firm in 2009.
How much were asking on Shark Tank?
They were asking for $150,000 for 15% of the company.
Did they have the deal?
Yes, the founders accepted an offer from Robert Herjavec for $150,000 in exchange for 15% of the company’s equity.
Is OrigAudio still in business?
Yes, the company is still in business as of December 20, 2021.
What are their products?
OrigAudio sells a number of products including, speakers, headphones and microphones. The speakers retail for $50 while the headphones and microphones retails for $100.
How old is the company?
OrigAudio’s was created in 2011 by Mike Lucash and Jason Szymczak. Szymczak is the vice president of sales while Lucash is their chief operations officer.
Is OrigAudio legit?
Yes, OrigAudio is a registered firm that sells a number of products.
How can I connect OrigAudio?
Connect to the device labeled “Wristler” in the mobile device’s wireless pair settings. Users will hear a noise and watch the white LED light turn solid, indicating that the pair has been successful. If no devices are linked after 15 minutes, the speaker will shut down automatically.
Where can I get OrigAudio?
OrigAudio provides a variety of audio devices, including an eco-friendly set of headphones. It was formed in 2009 by Jason Lucash and Mike Szymczak and is headquartered in Costa Mesa, California.
What is causing my Bluetooth speaker to emit a busy signal?
When either ones audio device or the speaker runs out of battery, Bluetooth connections will either fail or the speaker will emit a busy signal sound. If their Bluetooth speaker is old and continues to produce the busy signal even when charged, the battery has to be replaced.
How can I deactivate OrigAudio?
Slide the power button on the side of Boxanne to ON, and a blue LED will flash to show that the device is turned on. When users slide the power button to the OFF position, the blue LED will turn off.
What is the net worth of Mike Szymczak?
Michael Szymczak net worth is $600,000.
What is the net worth of Jason Lucash?
Jason Lucash net worth is $16 Million.