Poplight is a battery-powered remote control wall light that is also portable. The wall light and battery pack are available in various colors, including Vermillion Red, Matte Black, Sage Green, Dusty Rose, Popwhite, and Marigold.
The cost of the light is $95, while the battery pack is priced at $19.20, with additional shipping charges applicable. If you’re interested in purchasing, you can visit their official website.
After creating their first product, Poplight launched a crowdfunding campaign on Kickstarter on February 21, 2023. Within 28 days, they raised $162,498. Although they had not yet shipped products to any backers, they promised to deliver all products by May 2024.
| Company Name | Poplight | |
| Founder | Caroline Matthes and Rose Fierman | |
| Founded | 2020 | |
| Product | Wall lighting is designed for everyone | |
| Asked For | $150k for 8% equity | |
| Final Deal | $150k for an 8% equity + a $2 royalty until $500k is paid, which then drops to $1 in perpetuity | |
| Shark |  Kevin O’Leary | |
| Episode (Shark Tank USA) | S15 E11 | |
| Air Date | Jan 19, 2023 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | Denver, Colorado, USA | |
| Lifetime Worth (Sales) | $183K *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
Another Shark Tank Pitch
The co-founders of Poplight Businesses are Caroline Matthes and Rose Fierman, who started the company in 2020.
Rose has experience as a sales manager in various tech companies and served as a customer success manager at Atlan for two years. Meanwhile, Caroline mentors at Fostering Healthy Futures for Teens.
How Was The Shark Tank Pitch Of Poplight?
Caroline and Rose asked the sharks for $150,000 in exchange for 8% equity in their company.
Currently, their product is in the prototype stage. The manufacturing cost is $25, the landed cost is $30, and the retail price is $95, resulting in a profit margin of around 68%. Mark Cuban commented that the price was expensive, while Robert Herjavec disagreed, stating that $95 wasn’t unreasonable.
They hold three patents, including one design patent and two pending patents for the technology. They raised $178,000 on Kickstarter in just four weeks but had yet to ship any orders. Following the Kickstarter campaign, their sales amounted to only $5,000.
Kevin O’Leary made an offer of $150,000 for 8% equity, plus a $2 royalty until $500,000 is paid, after which the royalty would drop to $1 indefinitely. Mark Cuban remarked that it wasn’t the worst deal. Barbara Corcoran offered a different proposal: $150,000 for a royalty of $20 per unit sold, with no equity stake.
Robert Herjavec stated that Kevin’s offer was good enough and opted out. Lori Greiner expressed her concerns about the market and competition, leading her to withdraw as well. Mark Cuban also voiced worries about the product and chose to exit.
Caroline and Rose countered Barbara with a request for $150,000 in exchange for a royalty of $12 per unit sold. Barbara responded with a counter-offer of $100,000 in cash plus a $50,000 line of credit, still for a royalty of $12 per unit sold.
They then countered Kevin with a request for $150,000 in exchange for 8% equity plus a $2 royalty until $350,000 is paid, after which it would drop to $1 indefinitely. However, Kevin declined this offer. Ultimately, Caroline and Rose decided to accept Kevin’s original proposal.
Sharks Offers list!
| Sharks | Offers |
|---|---|
 Robert Herjavec | No Offer |
| Kevin O’Leary | $150k for an 8% equity + a $2 royalty until $500k is paid, which then drops to $1 in perpetuity (#1) |
 Mark Cuban | No Offer |
 Barbara Corcoran | $150k for a royalty of $20 per unit sold (#1) $100k cash + $50k as a line of credit for a royalty of $12 per unit sold (#2) |
 Lori Greiner | No Offer |
| Founder’s (Countered) | $150k for a royalty of $12 per unit sold (#1 (Barbara) $150k for an 8% equity + a $2 royalty until $350k is paid (#1) (Kevin) |
| Final Deals | $150k for an 8% equity + a $2 royalty until $500k is paid, which then drops to $1 in perpetuity |
Poplight Shark Tank Update
Caroline and Rose delivered an excellent presentation upon entering Shark Tank, thoroughly explaining their product to the sharks. Following the airing of this episode, it is expected that their sales saw a significant increase.
What Is Poplight’s Net Worth?
Poplight’s net worth is estimated at $0.2 million, based on the company’s lifetime sales and current valuation.
Annual Revenue by Years
Note: This report is based on our research and data so far. In this, we are only estimating the annual revenue.
| Years | Annual Revenue |
| 2023 | $183k *estimated |
Funding Reports to Date!
| Years | Funding Amount | Investor |
| 2023 | $150k | Kevin O’Leary |
This furniture and home furnishings manufacturing company is headquartered in Denver, Colorado, and has 2 to 10 employees, according to its LinkedIn profile.
