What Is Emazing Lights, and How Does It Work?
Emazing Lights is an e-commerce solution for consumer lifestyle companies that sells light show items. Engineering gloves, light sticks, poi, orbits, and clothing are also produced by the company.
EmazingLights is committed to advancing the future of gloving by conducting competitions, workshops, and showcase events. The company was placed #189 on the Inc. 5000 List in 2013 after growing by 2281 percent in three years and producing $5.8 million in revenue.
Who Founded Emazing Lights?
Emazing Lights was established by Brian Lim. In 2010, the firm was established.
At Shark Tank, What Happened to Emazing Lights?
Brian Lim’s Emazing Lights, his tremendously successful LED lighting glove company, tries to light up the Shark Tank in Shark Tank season 6 episode 22.
Lim was a pioneer in the art of “gloving,” a light show involving light-up gloves that is seen at raves and other electronic dance music events.
With a $100 investment, he started his firm in 2010 using the goal of providing light displays at parties with his LED gloves. In 2015, Lim has a booming business with annual sales of more than $16 million! EmazingLights was the 189th fastest growing firm in 2014 according to the annual “Inc. 5000” report.
A simple pair of gloves costs $12, while a high-end pair costs $100. The business also sells other bright items including sunglasses, clothing, and accessories. Mr. Lim has turned Emazing Lights into one of the industry’s most significant companies. EDM is a multibillion-dollar business.
Christina, his fiancée, runs heartrates, an online supermarket for rave-related goods. Lim hasn’t stated whether he wants to fund expansion or production help from the Shark. Brian arrives disguised as the Emazing Lights mascot, asking for $650,000 in exchange for a 5% interest in the firm.
The lights dim, and some of his assistants start gloving like sharks. Brian distributes samples after the demo, and then the questioning begins. Robert thinks they’re quite cool. Kevin is perplexed by the company’s $13 million valuations. Brian expects to sell $5.5 million this year, according to his projections.
He explains how he came up with the idea for IHEARTRAVES.com, which has a $2.5 million revenue. Brian compares himself to Mark, who used to sell CDs door to door when his parents relocated from China.
His EmazingLights patents protect the programming of the glove lights. The price intrigues Mark. The profit margins range from $10 to $17, but Mark is interested in seeing what happens next. According to Brian, gloving has become a “performance sport.”
Daymond compares gloving to break dancing, and Brian feels it is growing outside of the EDM realm, with the potential to become a billion-dollar industry.
Mark is a firm believer in global expansion.
Kevin offers Brian a $650,000 loan with a 3% interest rate; Brian declines since he prefers a partner over debt; Kevin leaves.
Daymond wonders why Brian wants 5% of the license deals he brings in; Brian responds by saying, “Make an offer, and we’ll see what we can do.” For 20% of the license deals he brings in, Daymond offers $650,000. Brian is the “real deal,” according to Robert.
Lori and Robert team up to offer $1 million in return for an 8% stake in the company.
Mark offers $650,000 for an 8% commission and Daymond agrees to a 20% commission on any contracts he licenses.
Lori and Robert offer $1 million in exchange for a 5% share of the company.
Brian states that he is aware of the offers and that it has nothing to do with money. He continues to suffer. After a brief hesitation, he accepts Mark and Daymond’s offer.
Emazing Lights After the Shark Tank:
Emazing Lights has increased more since the Shark acquisition.
To deal with the flood of demands, Lim had to quadruple his staff and office space just a few months after the episode debuted. MGM obtained a license to sell the company’s products and sold them in six of MGM’s Las Vegas casinos.
The company now employs 50 full-time employees and has 3,000 square feet of warehouse space as of August 2021. The company’s annual revenue of $20 million is astronomically high. The Glove for Glove foundation has also been included as a charitable component.
Disabled festival-goers receive gloves from the organization.
Emazing Lights’ Net Worth :
Brian Lim’s net worth is $13 million as of his participation on “Shark Tank.” Currently, his net worth is $50 million.