Lumio Shark Tank Update

Lumio Shark Tank Pitch

Max Gunawan appeared on Shark Tank Season 6, Episode 15, which aired on January 15, 2015, with multi-functional modern lamp that unfolds from a book.

Lumio is listed in the Lifestyle Home category. In plain terms, the business is described as multi-functional modern lamp that unfolds from a book.

Lumio asked the Sharks for $250,000 for 8%, implying a valuation of about $3.1 million.

On the show, Lumio made a listed deal with Robert Herjavec for $350,000 for 10%.

If treated as straight equity, the listed deal works out to about $3.5 million implied valuation, up from the original $3.1 million implied valuation.

This pitch is included as context for the more important question: what happened after Shark Tank.

Lumio After Shark Tank

Lumio accepted an on-air Shark Tank deal for $350,000 for 10%. Follow-up reporting lists the company as still operating after its Shark Tank appearance. (Lumio Shark Tank Update

Lumio reported annual revenue of $5 million as of January, 2023, The deal with Robert never did close but this business is doing gangbuster sales on Amazon. Since airing, the company added a Lumio Mini and the Teno Bluetooth speaker. (Lumio Shark Tank Update

The official website for Lumio is listed as www.hellolumio.com. (Lumio website

Sources

Sources used for this page: Shark Tank API pitches