What Was Invisiplug, Exactly?
The Invisiplug surge protector is designed to blend in with hardwood flooring. Invisible comes in three colors: Natural, Medium Cherry, and Dark Oak, unlike most generic surge protectors (or power strips). There are two sizes of Invisiplug: basic and deluxe.
Who Is the Founder of Invisiplug?
Michael Barzman and Bryan O’Connell Came up With the Idea for Invisiplug. the Product was Debuted in June 2013 at Lowes Home Improvement Stores and Is Now Available on Amazon. Both Men Came up With the Idea After Noticing how Unsightly Regular Power Adapters Are in People’s Houses.
After Some Consideration, the Couple Realised They Could Find a Method to Make This Common Necessity Blend in With Any Décor. Invisiplug Was Born as A Consequence.
The Wood Grain Look of The Plastic Is Supposed to Go Well with Wood Floors, and The Price Is Comparable to Regular Power Strips and Surge Protectors.
Invisiplug’s Shark Tank Pitch: What Happened?
Bryan and Michael Came on Shark Tank Season 5 Episode 14 with The Hopes of Receiving $125,000 in Exchange for A 10% Interest in Their Business. This Equates to A $1.25 Million Price Tag. They’ve Sold Roughly 1,500 Devices in Less than Two Months. Mark Goes out Because He Feels They Should Be More “high End.”
Before Calling Himself Out, Robert Says He Doesn’t See a Market for Such a Product, While He Admits It Blends in Better but Isn’t Physically Appealing. Because You Haven’t Started Selling Yet, Kevin O’Leary Feels the Company Isn’t Worth a Million Dollars. He’s Gone.
Barbara Likes the Product and Wants to Purchase Three Dozen of Them. Barbara Shares Kevin’s Opinion on The Product’s Value. She Considers It Crazy. Before Leaving, She Gives Her Best Wishes to The Pair. Lori Asks a Few Questions, and The Guys Reveal that They’ll Be in Oprah’s O Magazine.
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Lori Dons Her Mr. Wonderful Hat and Offers $125,000 for A 10% Stake in The Company, with A $1 Royalty per Unit until She Recoups Her Investment, Plus 50 Cents a Unit in Perpetuity. Bryan and Michael Respond with A Royalty of 25 Cents per Unit until The Unit Is Recovered, Then a Charge of 5 or 10 Cents per Unit in Perpetuity. Lori Repeats Her Offer, but This Time the In Perpetuity Royalty Is Reduced to 25 Cents per Unit.
Robert Has Been Watching the Events and Has Returned with A $125,000 Offer for A Quarter-Share of Invisiplug. They Talk Robert Down to 20%, and He Accepts as Long as They Accept Right Now. They Fight, and Robert Leaves. After Some Back and Forth, Lori Agrees to A $125,000 Deal for 10% of The Company Plus a $1 per Unit Royalty until She Recoups Her Investment Plus 25 Cents per Unit in Perpetuity.
After the Shark Tank Pitch, What Happened to Invisiplug Shark Tank?
Invisiplug Went on To Become One of Lori’s All-Stars After Making a Lot of Money. Target, Staples, and Amazon Are Already Selling the Items. Although the Firm Has Been Referenced in Past Group Updates, an Individual Update Appears Improbable. Michael Barzman Was Arrested for Felony Assault with A Weapon in Early July 2016 After He Allegedly Drew a Revolver on A Man Smoking a Cigarette Outside His Residence.
Barzman Carried an Empty Gun and Never Pointed It Towards the Man, According to His Lawyer. The Case Against Barzman Is Still Proceeding, and He Was Freed on $50,000 Bail. when He Was Arraigned, He Pleaded Not Guilty. The Case Was Dismissed in November of 2016. in December of 2017, the Company Closed Its Doors.
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In January 2020, Barzman Was Arrested Again for Assault with A Pistol. He Pleaded Guilty, but The Charges Were Dismissed. in August 2021, Barzman Will Open an Auction House, While O’Connell Will Retain a Low Profile.
What Is Invisiplug’s Net Worth?
Bryan and Michael Came on Shark Tank Season 5 Episode 14 with The Hopes of Receiving $125,000 in Exchange for A 10% Interest in Their Business. This Equates To A $1.25 Million Price Tag. Lori Offered $125,000 for 10% of The Company Plus a $1 per Unit Royalty until She Recoups Her Investment Plus 25 Cents per Unit in Perpetuity, Resulting in The Same Valuation. Because They Are No Longer In business, there is no current value.