Using motion sensors, IllumiBowl is a toilet night light that can be attached to any rim. When someone enters the bathroom in the dark, it illuminates the inner bowl.
Matt Alexander and Michael Kannely founded IllumiBowl in Provo, Utah, where they currently live. In November 2014, they raised $95,970 to bring the product to market. In August of this year, IllumiBowl completed its Kickstarter campaign.
IllumiBowl made an appearance on Shark Tank, an episode of ABC’s television show, on March 11, 2016. An investor, Kevin O’Leary, has invested in IllumiBowl.
Shark Tank IllumiBowl Recaps
It is Matt and Michael’s goal to raise $100K for 15% of their business. There are dangers to “doing it alone in the dark,” they say. To demonstrate how it works, they say their “main priorities are number one and number two,” and the Sharks find it amusing when they hear this.
Daymond asks if the light stays on throughout the entire bathroom visit, and they explain motion activation to him as they hand out samples. It’s explained to Robert that having a goal gives people motivation to use a nightlight. It only costs $3.98 to package and assemble each of the 100K units that were sold on Kickstarter for $19.99. The Sharks are a fan of the margins!
According to them, they’re talking to brick-and-mortar stores about opening an online store, but first they need the funding. Another project they’re working on is the ability to project images into the toilet bowl, and to demonstrate this, they show the other four sharks a picture of Kevin.
“Affordable next steps” are what Daymond is referring to, and they don’t need the Sharks if they do so. He is no longer in the game. ‘I like it, but it’s a little nuts.'” For $100,000, he’ll take a 25 percent cut. For Mark, it’s just a one-of-a-kind item. A product, not a company, he claims.
He’s no longer in the picture. When it comes to making an offer, Robert believes they can buy their own inventory and is unwilling to go above and beyond Kevin’s. He’s been expelled.
While praising Squatty Potty, Lori claims that she does not wish to infringe on their territory. Upon hearing Kevin’s proposal, the guys agree to the deal! Kevin has declared that he will set fire to the nation’s lavatories!
Net Worth: Illumibowl
IllumiBowl launched a Kickstarter campaign in October 2014 with the goal of raising $20,000 on the platform. Over $90,000 in promises in just 40 days. Alexander recalls how “we were completely broken” when they ran their first campaign.
I was in college and Mike worked at Wal-Mart at the time, so we were only able to raise the money through crowdfunding. Our idea and a group of people who were ecstatic about the product were both validated as a result of the overwhelmingly positive response.
How much money does Illumibowl have? When we reworked Illumi Cup, we brought back the early adopters. More than $225,000 was raised from nearly 8,000 backers during the second round of the Kickstarter campaign.
Update on IllumiBowl Shark Tank
Entrepreneurs who have appeared on the Shark Tank television show have their stories followed up on by the Shark Tank blog.
Matt and Michael have stuck to their guns after landing a Shark Deal with Kevin O’Leary. Smaller local stores and independent franchises like True Value were their first stops, but now they’re focusing on securing space in larger chains.
Kevin O’Leary, according to Matt, was “very involved” with the company, acting as a go-between with retailers and using his contacts to expand the product’s market. Since Shark Tank, the price has dropped as well. Originally $19.99, the IllumiBowl is now $14.99 on Amazon, a $5 discount.
IllumiBowl is brightening up bathroom time everywhere, and the founders and their Shark partner are giddy with excitement over their newfound success.
Episode 802 of season 8 features an update on Illumibowl. Then we’ll find out what they’re up to. Over one million units have been sold, and the company is still going strong in 2021, according to the latest data.
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