Zomm Shark Tank Update | What Happened to Zomm after the Shark Tank?
What is Zomm?
The Zomm is a key fob device that alerts users if they stray too far from their iPhone by vibrating and sounding an alarm. It can also help locate misplaced keys.
It was created by Henry Penix in 2009 in Tulsa, Oklahoma, USA and was funded by selling a preschool. It was also featured on the TV show Shark Tank.
Who is the founder of Zomm?
Henry Penix established Zomm in 2009, with its headquarters located in Tulsa, Oklahoma, USA.
The Penix family used proceeds from the sale of their preschool to finance the production of the Zomm multi-purpose fob key.
Additionally, an investor committed $5 million in funding, bringing the total investment to $9 million.
Zomm quickly gained significant market attention, selling $750,000 in 2010 and earning the CES Innovation Award.
The following year, sales rose to $5 million, nearly ten times the previous year’s volume.
What Happened to Zomm at Shark Tank Pitch?
Before appearing on Shark Tank, the Zomm company had achieved $5 million in sales in 2011 and $7.2 million in 2012.
The product was being sold in the United States, Canada, Europe, most of Africa, Australia, and China.
The product had received several accolades, including a CES Innovation award in 2010.
On the show, the founder of Zomm, Henry, asked for $2 million in exchange for a 10% stake in the company.
The Sharks were interested in the product, but had concerns about the numbers and stability of the company.
Henry had invested $4 million of his own money into the firm and raised another $5 million from venture investors.
The company had also spent over a million dollars on research and development. Ultimately, all the Sharks decided not to make a deal with Zomm.
What Happened to Zomm after the Shark Tank?
Penix proposed a deal to the Sharks, offering $2 million in exchange for a 10% stake in their company.
However, when the Sharks discovered the company’s $10 million debt, they all withdrew their interest and the deal fell through.
Despite this setback, the company gained significant attention following their appearance on the show, with over 250,000 hits to their website.
However, their website struggled to handle the influx of visitors and crashed.
In response, the company shifted their focus to a personal emergency concierge service.
As of 2021, the company’s Facebook page is inactive and their website does not have a purchase option, indicating that the company is no longer in operation.
Zomm Competitors
Zomm has some competitors like Tagg Pet Tracker, Whistle GPS Tracker and Kevo Beast
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?
The Zomm wireless leash is a key fob that notifies users when they walk away from their iPhone by twenty feet.
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.
Who is the founder of Zomm?
Henry Penix founder of 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.
Did the Zomm have the deal?
No deal was made.
What happened with the offer?
No one was impressed with the deal.
Is Zomm in business?
No it is not in operation anymore but website is still up and running, although it does not appear to have been updated since 2012.
Again, the firm website appears to be quite simple and underdeveloped, with social network connections that are either broken.
However a ccording to his LinkedIn page, co-founder Henry Penix is still with the company.
What is the net worth of Zomm?
Not available.
Is Zomm a scam?
No it is not a scam; the company is out of the business.
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.
