Zomm Shark Tank Net Worth 2023

The net worth of Zomm is unknown as of 2023 since the company went out of business in 2018. At the time of its appearance on Shark Tank in 2012, Zomm was valued at around $20 million.

Henry Penix, the founder of Zomm’s technology startup, entered the Tank seeking a massive $2 million investment in exchange for a 10 percent stake.

The Sharks were impressed by Zomm’s product and its success prior to appearing on Shark Tank. Sales in 2011 were $5 million, while sales in 2012 were $7.2 million, with a net profit of $2 million.

However, Henry was not successful in securing an investment from the Sharks and invested by himself instead.

Since then, Zomm has seen tremendous growth with even more new products added to its impressive line. Despite this success, it is unclear what the current net worth of Zomm is since it is no longer in business.

What is Zomm?  Who is the founder of Zomm?

The Zomm is a small device that serves as a key fob and is designed to alert users by vibrating and sounding an alarm if they move too far away from their iPhone. It also has the added feature of helping users locate misplaced keys.

In 2009, Henry Penix founded Zomm in Tulsa, Oklahoma, USA. The Penix family used the profits from the sale of their preschool to finance the development of the Zomm key fob. An investor also contributed $5 million, bringing the total investment to $9 million.

Zomm quickly gained attention in the market, selling $750,000 in 2010 and earning the CES Innovation Award. The following year, sales increased to $5 million, almost ten times the previous year’s volume. The product was even featured on the TV show Shark Tank.

Zomm Shark Tank Pitch

Zomm had achieved impressive sales figures of $5 million in 2011 and $7.2 million in 2012 across various regions, including the United States, Canada, Europe, most of Africa, Australia, and China.

The product had even received a CES Innovation award in 2010. However, when the founder of Zomm, Henry, appeared on Shark Tank, he asked for a $2 million investment in exchange for a 10% stake in the company.

Although the Sharks found the product interesting, they had doubts about the company’s stability and numbers. Zomm had invested $4 million of its own money and raised $5 million from venture investors.

Additionally, over a million dollars had been spent on research and development. Despite these investments, none of the Sharks agreed to invest in the company.

Later on, Penix proposed a deal to invest $2 million for a 10% stake in the company. However, when the Sharks discovered that Zomm had a $10 million debt, they withdrew their interest, causing the deal to fall through.

Nevertheless, Zomm received significant attention following its appearance on the show, which resulted in over 250,000 hits to its website.

Unfortunately, the website was unable to handle the surge in traffic and crashed. Consequently, the company shifted its focus to a personal emergency concierge service.

As of 2021, Zomm’s Facebook page is inactive, and its website does not offer a purchase option, indicating that the company is no longer operational.

Zomm Shark Tank Updates

Zomm is a technology startup that appeared on Shark Tank in 2012. The founder, Henry Penix, pitched a key fob that connects to a cellular phone via Bluetooth and emits an alarm when it gets about 20 feet from the phone.

The device is called a “wireless leash” for your phone and is useful for people who frequently misplace their phones. Zomm also offers a personal concierge service that allows users to dial 911 and a set list of numbers when there is an emergency.

During the Shark Tank pitch, Henry Penix asked for a $2 million investment in exchange for a 10% stake in the business. The sharks were intrigued by the product but concerned about the numbers.

Henry personally invested $4 million of his own money and raised another $5 million from venture capitalists. Zomm had $5 million in sales in 2011 and $7.2 million in 2012.

After appearing on Shark Tank, Zomm saw a surge in web traffic and sales. The company had over 250,000 visitors to its website in the week following their appearance on the show. However, Zomm is no longer in business.

While the company was valued at around $20 million at the time of its Shark Tank appearance, it is unclear why it ceased operations.

Zomm Shark Tank Net Worth 2023

TOPIC	INFORMATION
Net worth of Zomm (2023)	Unknown since the company went out of business in 2018
Valuation of Zomm on Shark Tank (2012)	$20 million
Founder of Zomm	Henry Penix
Zomm product	Small device/key fob that alerts users when they move too far away from their iPhone, and helps locate misplaced keys
Zomm sales	$750,000 (2010), $5 million (2011), $7.2 million (2012)
Zomm investment on Shark Tank	Henry Penix asked for $2 million in exchange for a 10% stake, but none of the Sharks agreed to invest
Zomm debt on Shark Tank	$10 million
Zomm updates	Received over 250,000 hits to its website after appearing on Shark Tank; shifted focus to a personal emergency concierge service; inactive Facebook page and website with no purchase option indicate the company is no longer operational

The net worth of Zomm

Henry initially invested $4 million in the company, which later generated a profit of $1 million and a total revenue of $5 million.

However, the company is now out of business and has no remaining value.

FAQs of Zomm

What Is Zomm, And How Does It Work?

Zomm is a cloud-based video conferencing service that allows users to connect with video, audio, phone, and chat. It is used for virtual meetings, webinars, and conference calls.

To use Zomm, an internet connection, and a supported device are required. Users can create an account and download the Zomm Client for Meetings to get started.

Zomm offers several features to enhance virtual meetings. Users can share their screen with others in the meeting by clicking on the Share Screen icon on the control panel.

The meeting host can control access to this function and allow all users, specific users, or a select group of users to share their screens. Zom also offers Zapps, which are third-party applications that can be used to improve productivity and create more engaging experiences.

Launch partners for Zapps include Atlassian, Asana, Box, Dropbox, Slack, Wrike, Coursera, Kahoot, Kaltura, HubSpot, Chorus, Gong, Cameo, Exer, Slido, Lucidspark, Miro, Mural, ServiceNow, PagerDuty.

One potential issue with Zomm is “Zomm bombing,” which occurs when an uninvited individual gains access to a Zomm meeting with the intent to disrupt it. However, Zomm offers privacy settings that can prevent Zomm bombings.

When the 20-foot barrier is reached, the device softly vibrates. If the user does not notice the vibrations, an alert will sound, steadily rising in volume until the user turns it off.

What Happened To Zomm After Shark Tank?

Zomm, a company that appeared on Shark Tank, is no longer in business. At the time of their appearance on the show, Zomm was valued at around $20 million.

The founder of Zomm, Henry Penix, pitched the product on Shark Tank in 2012, asking for a $2 million investment in exchange for a 10% stake in the company.

Although the Sharks were intrigued by the product, they were concerned about the numbers. Zomm had $5 million in sales in 2011 and $7.2 million in 2012, but they were also nearly $10 million in debt.

After appearing on Shark Tank, Zomm experienced a surge in web traffic and sales. However, the company eventually ceased operations.

Despite this, Zomm continued to roll out their “personal concierge” service, which allows users to dial 911 and a set list of numbers in case of an emergency.

What Was The Outcome Of Zomm’s Pitch On Shark Tank?

Zomm’s pitch on Shark Tank was for a $2 million investment in exchange for a 10% stake in the company. The Sharks were intrigued by the product, which was a key fob that connects to a cellular phone via Bluetooth and emits an alarm when it gets about 20 feet from the phone.

They called it a “wireless leash” for your phone. The product was well-received, and Zomm had $5 million in sales in 2011 and $7.2 million in 2012. However, the Sharks were concerned about the company’s finances and ultimately did not make a deal with Zomm.

Despite not securing a deal, Zomm saw a surge in web traffic and sales after appearing on Shark Tank, with over 250,000 visitors to their website in the week following their appearance.

After appearing on Shark Tank, Zomm continued to develop its “personal concierge” service, which allows users to dial 911 and a set list of numbers in case of an emergency. However, Zomm is no longer in business and is no longer producing products.

Did Zomm Get A Deal On Shark Tank?

Zomm appeared on Shark Tank in 2012, with founder Henry Penix asking for a $2 million investment in exchange for a 10% stake in the company. Although the Sharks were intrigued by the product, they ultimately did not make a deal with Zomm.

Zomm saw a surge in web traffic and sales after appearing on the show, but it was not enough to keep the company afloat. Zomm is no longer in business.

What Was The Reason For Zomm Not Getting A Deal On Shark Tank?

Zomm did not get a deal on Shark Tank because the sharks were concerned about the numbers. Founder Henry Penix appeared on the show in 2012, asking for a $2 million investment in exchange for a 10% stake in the company.

Although the Sharks were intrigued by the product, they were not convinced by the company’s projected sales of $7 million and ultimately did not make a deal with Zomm. Despite this, Zomm saw a surge in web traffic and sales after appearing on the show.

What Are Zomm’s Competitors?

Zomm is a popular video conferencing platform, and there are several competitors and alternatives to it. Microsoft Teams, Google Meet, and Cisco Webex are some of the top competitors to Zomm.

These platforms offer similar features to Zomm, such as video conferencing, screen sharing, and chat functions. They also have their own unique features, such as Microsoft Teams’ integration with other Microsoft products and Google Meet’s ability to join meetings directly from a web browser.

Other competitors and alternatives to Zomm include RingCentral MVP, 8×8 Meet, and Dialpad. These platforms offer similar features to Zomm and are suitable for businesses of all sizes.

They also offer additional features such as third-party integrations and the ability to host large meetings with up to 3,000 participants.

Zomm Meeting is another alternative to Zomm that offers ease of use and a focus on security. It allows users to quickly join meetings from their browser without having to download any desktop apps.

It also offers features such as screen sharing, remote access for IT teams, and entry/exit notifications. Zoho Meeting encrypts audio, video, and screen sharing to keep information safe and secure.

Overall, there are several competitors and alternatives to Zomm that offer similar features and additional benefits. The choice of platform depends on the specific needs of the user or business.

Is Zomm Still In Business?

Zomm is a device designed to ensure that you never lose your mobile device. It was originally intended to alert a user if they had left their phone at home, but the product was designed to offer additional features, such as emergency dialing.

A user can call 911 or pre-selected emergency contact. Zomm was an instant success in the market due to its unique innovation. It achieved $750,000 in sales in 2010 and was named the winner of the CES Innovation Award.

In 2011, the sales volume nearly doubled to $5,000,000, and sales in 2012 were $7.2 million, with a net profit of $2 million.

Zomm appeared on Shark Tank in 2012, where Henry Penix asked for $2 million for a 10% stake in the business. The Sharks were intrigued by the product, but concerned about the numbers. Henry personally invested $4 million of his own money and raised another $5 million from venture capitalists.

Zomm’s website is still up, but it seems that it has not been updated in a very long time. The Zomm Facebook page is down, and the company has been planning to retweet the same article every day since 2014, if not more.

According to multiple sources, Zomm ceased its operation in 2018 and went out of business. While you can still purchase some devices from some outlets on Amazon, the Zomm Company is no longer operational and is no longer producing products.

Is Zomm A Scam?

Zomm is a legitimate video conferencing platform that has become increasingly popular during the COVID-19 pandemic. However, scammers have been using Zomm’s name to trick victims into clicking on malicious links.

These links can lead to phishing scams where the attacker tries to steal personal information such as passwords, bank account information, and employee IDs.

To avoid falling victim to Zomm scams, it is important to only use official Zomm domains such as zomm.us or zomm.com. If you receive an email or message with a Zomm link, make sure to verify that it is from a legitimate source before clicking on it.

Additionally, you should never have to log in to join a Zomm meeting, so be wary of any links that ask you to do so.

In summary, Zomm is not a scam, but scammers have been using its name to trick victims into clicking on malicious links. To avoid falling victim to Zomm scams, it is important to only use official Zomm domains and to verify the legitimacy of any Zomm links before clicking on them.

 Who is the founder of Zomm?

Henry Penix founded Zomm in 2009 and the company is based in Tulsa, Oklahoma, United States.

What happened to Zomm on Shark Tank Pitch?

Henry was asking for $2 million for 10% equity shares from Shark Tankers investors.

 

 

Where to buy Zomm?

It is not available for purchase online. It’s no longer in operation.

How to contact Zomm?

The Facebook page is no longer active in 2021, and there is no purchase procedure on the company’s website.

What is the Zomm official website?

It is not available.

What is a wireless leash?

The wireless leash also known as a key fob is a device that notifies users when they walk away from their iPhone.

It has a built-in sensor that triggers a vibration or sound signal when the key fob strays more than twenty feet from its paired device.

Who came up with the idea of Zomm?

The idea of Zomm was penned down by Henry Penix.

Where was the Headquarters of Zomm?

The headquarters of Zomm was in Tulsa, Oklahoma, United States.

What is the motivation behind Zomm?

The motivation behind Zomm is making people’s life easier with their wireless leash.

What does it do?

It has a built-in sensor that triggers a vibration or sound signal when the key fob strays more than twenty feet from its paired device.

How was the business model of Zomm?

The business model was to design the wireless leash for iPhone

How to use Zomm?

You need to pair your device with Zomm and then you can use it.

Who is the competitor of Zomm?

Zomm has some competitors like Tagg Pet Tracker, Whistle GPS Tracker and Kevo Beast.

 Was Zomm good or bad?

It was a good idea from Henry but as per the investor they were not impressed with the deal.

Who are buying from Zomm?

The Zomm is mainly bought by the owner, to keep track of their pet and sometimes friends.

Is Zomm wireless dog fence?

Yes, it is a wireless fence for your dogs.

How long does the battery last?

The battery lasts for about two years and they can use it to track their pets even after two years because we change batteries every year and we don’t have to replace the device every time and this helps them to save money and time.

What is the price of Zomm?

The price of Zomm varies according to the version and the seller and also depends on where the customer live and what type of payment method want to use.

Who is the marketer of Zomm?

The marketer of Zomm was Henry Penix.

What are the advantages of using Zomm?

The advantages of using Zomm are, it can be used for more than five years and they don’t need to replace the batteries every time and this helps them to save money and time.

What is Zomm made of?

Zomm is made of good quality material so it is not easily broken.

Is Zomm waterproof?

No it is not waterproof because it can be exposed to high temperature and humidity which can cause damage to the product.

Who is Henry Penix?

The founder of Zomm is Henry Penix of Tulsa, Oklahoma. He pitched his tech business on Shark Tank in October 2012 and informed the Sharks that he was the CEO of Zomm, a technology company.

Zomm appears to have been developed solely by Henry Penix; nevertheless, Laurie (his wife) had an important role in its growth.

What was Henry’s background?

Before he went on Shark Tank to represent his company Zomm and his multipurpose technology product, Henry Penix was a family man from Oklahoma.

What exactly is the Zomm Wireless Leash?

The Zomm wireless leash is a key fob that alerts users when they walk away from their iPhone by twenty feet.

How does Zomm work?

Zomm is essentially a key fob that connects to your phone through Bluetooth and generates an alert when it comes within 20 feet of it.

What is the device’s purpose?

According to Henry, the device also serves as a key finder.

The Zomm wireless iPhone leash attaches to your keychain and sounds an alert if you forget it and walk away.

How can I deactivate the Zomm alarm?

By touching a button on the gadget, you may turn off the alarm.

How much does Wireless Leash cost?

The regular ZOMM Wireless Leash (available in black, white, and pink) costs $49.95, while the ZOMM Wireless Leash Plus costs $79.95.

Where can I buy Zomm?

Zomm was available on Amazon.

What are happened to Zomm after shark tank?

After appearing on Shark Tank, Zomm’s site traffic and revenues skyrocketed.

The product is listed as “currently unavailable” on Amazon.

According to Penix’s LinkedIn profile, the firm is still operating, but Penix has now become CEO of Sooak.

While Zomm isn’t entirely closed, it does appear not to be operational.

Zomm Pitch on Shark Tank Season 4 Episode 4