Shark Tank Update
Shark Tank Pitch
Revolights Shark Tank Update
Published:
2m
San Francisco, CA
| Name | Revolights |
|---|---|
| Main Presenters | Kent Frankovich |
| Presenter Image | |
| Product Image | |
| Last Known in Business | 1/1/2019 |
| Main Location | San Francisco, CA Loading Map |
| Order Shown in Episode | 1 |
| Final Deal | All Sharks went Out |
Revolights Shark Tank Pitch
Kent Frankovich was a mechanical engineer for NASA who put his skills toward creating a way to reduce biking accidents at night with his invention, Revolights. Revolights are a set of lights that attach to a bike's wheels and light up a white light on the outer side of the front wheel and a red light on the outer side of the rear wheel.
This is Revolights' first year selling, and it has done $600k in revenue in 10 months. Revolights made no profit because Kent has been reinvesting back into the company. Kent among the others in his office has worked for a year and a half without being paid. Kent wants the Shark's connections to help ramp up their product sales or use the sales thus far to secure a licensing deal.
Daymond and Kevin get the offers going. Robert notes that Kent is a fellow Croatian and loves the product, so he gives Kent twice the money Kent asked for for the same equity. Kent remains stoic and asks the other sharks if they are interested.
Mark critiques Kent for playing games and says that Kent undervalued his company and had some alternative motive. Robert typically is critical when entrepreneurs respond to his offers by directing attention to the other sharks, but in this case, Robert defended Kent. Kent accepts Robert's offer.
Offers
| Made By | Label | Sharks Part of Deal | Summary |
|---|---|---|---|
| Company | Offered | $150k for 10% of company | |
| Sharks | Offered | Daymond John | $300k for 30% of company |
| Sharks | Offered | Kevin O'Leary | $150k for 0% of company and a 7% royalty until paid back becomes 1% |
| Sharks | Deal | Robert Herjavec | $300k for 10% of company |
| Sharks | Out | Daymond John | Out |
| Sharks | Out | Mark Cuban | Out |
Mark Cuban
Out
Daymond John
Out
Kevin O'Leary
Offered
Lori Greiner
Robert Herjavec
Made Deal
Updates in Shark Tank Episodes
| Update Season | Update Episode |
|---|---|
| No Episode Updates | |
Revolights After Shark Tank
Kent Frankovich launched a Kickstarter https://www.kickstarter.com/projects/revolights/revolights-join-the-revolution https://www.kickstarter.com/projects/revolightsinc/revolights-wheels https://www.prweb.com/releases/2014/05/prweb11862976.htm campaign for Revolights in 2011, which raised $215k of their $43k goal. In 2013 Kent launched another Kickstarter Link Preview
Kickstarter campaign to make wheels with the lights already built in, which raised $94k of a $14k goal. According toa 2014 article by prweb.com Link Preview
Kickstarter , Revolights received Robert Herjavec's $300k investment and raised an additional $1 million in 2014.Link Preview
prweb.com
In 2015 Revolights raised $259k on Indiegogo https://www.indiegogo.com/projects/revolights-eclipse-connected-bike-lighting-system# https://mobile.x.com/Revolights. Kent provided updates about delays and such until finishing filling the orders in 2017. Revolights' last post on their Twitter,
@Revolights Link Preview
Indiegogo , was in 2017.Link Preview
@Revolights
According to Shark Tank Blog https://www.sharktankblog.com/business/revolights, in 2019 Kent let his Kickstarter supporters know that Revolights was shutting down for personal and professional reasons.Link Preview
Shark Tank Blog
According to Kent Frankovich's LinkedIn https://www.linkedin.com/in/kent-frankovich-6b980011, he worked as an engineer at Apple from 2019 to 2022, and in 2022 started working at a space company in the role "VP of Electric Propulsion," which sounds neat.Link Preview
LinkedIn
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