Poplight Shark Tank Update (Season 15)

Poplight is a Portable, Rechargeable, Battery Powered, Wireless Remote Control Wall Light. This wall light business was started by Caroline Matthes and Rose Fierman in 2020.

4 years ago, both of them were moving to a new house and they had to install a traditional wall light near their bed but it was difficult as it was expensive. They had to find a better way and from there Poplighat was born.

After making the first product, they started a crowdfunding campaign on Kickstarter on February 21, 2023. Within 28 days they raised $162,498. They had not shipped the products to any backers and had promised that they would ship all the products by May 2024.

To scale their business and increase sales, they appeared on Shark Tank Season 15 Episode 11 and asked the Sharks for $150k for 8% of the shares at a $1.8 Million Valuation. There was a long conversation between the sharks and the founders regarding the scope of the business.

What Is Poplight?

Image credit by thepoplight Instagram

Poplight is a battery-powered remote control wall light that is also portable. Wall Light and Battery Pack are available in different colors like Vermillion Red, Matte Black, Sage Green, Dusty Rose, Popwhite, and Marigold.

The cost of the light alone is $95 and the cost of the battery pack is $19.20, apart from this you will have to pay extra shipping charges. If you want to buy this then you can visit their official website.

Company NamePoplight
FounderCaroline Matthes and Rose Fierman
Founded2020
ProductWall 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
SharkKevin O'Leary Shark Tank Profile Kevin O’Leary
Episode (Shark Tank USA)S15 E11
Air DateJan 19, 2023
Business StatusIn Business
WebsiteVisit Website
HeadquartersDenver, Colorado, USA
Lifetime Worth (Sales)$183K *estimated
Buy and WatchBuy NowAmazon Prime

Another Shark Tank Pitch

Who Is The Founder Of Poplight?

Poplight Founders
Image credit by thepoplight Instagram

The co-founders of Poplight Businesses are Caroline Matthes and Rose Fierman. They started this business in 2020.

Rose has worked as a sales manager in different tech companies and worked as a customer success manager in Atlan for 2 years. Caroline is a mentor at Fostering Healthy Futures for Teens.

How Was The Shark Tank Pitch Of Poplight?

Caroline Matthes and Rose Fierman, this two wife entered Shark Tank and asked the sharks for $150k for 8% equity. They uniquely presented their wall light and the Sharks thought it was the best presentation.

Currently, this product is in the prototype stage. Its making cost is $25, landed cost is $30 and retail cost is $95. The profit margin in this is around 68%. Mark said it was expansive but Robert said it wasn’t that expensive at $95.

They have three patents, one design patent, and two pending patents on technology. They made $178k from Kickstarter in just 4 weeks and haven’t shipped any orders yet. After Kickstarter, their sales were only $5,000.

Kevin O’Leary made an offer of $150k for an 8% equity + a $2 royalty until $500k is paid, which then drops to $1 in perpetuity. Mark Cuban said it’s not the worst deal. Barbara Corcoran offered a royalty deal without equity of $150k for a royalty of $20 per unit sold.

Robert Herjavec said Kevin’s offer is good enough so he is out. Lori Greiner said that she does not know much about the market of this product and she is concerned about the competition, which is why she is out. Mark Cuban is also concerned about the product, he is out.

Caroline and Rose countered Barbara with $150k for a royalty of $12 per unit sold. Barbara countered another $100k cash + $50k as a line of credit for a royalty of $12 per unit sold.

They countered Kevin with $150k for an 8% equity + a $2 royalty until $350k is paid, which then drops to $1 in perpetuity. But Kevin said no. Caroline and Rose decide to go with Kevin’s offer.

Sharks Offers list!

SharksOffers
Robert Herjavec Robert HerjavecNo Offer
Kevin O'Leary Shark Tank Profile 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 Shark Tank Profile Mark CubanNo Offer
Barbara Corcoran 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 Profile for Shark Tank Lori GreinerNo 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

What Happened To Poplight After Shark Tank?

Poplight got a deal in Shark Tank. Kevin O’Leary invested in this company. After this episode of Shark Tank aired, many people are discussing this product on the internet. Right now we are following this company and its founders for more information.

Poplight Shark Tank Update

Caroline Matthes and Rose Fierman Both of them gave a very good presentation after entering Shark Tank and explained everything to the sharks very well. After this episode aired, their sales must have increased.

What Is Poplight’s Net Worth?

Poplight’s net worth is estimated at $0.1 million. The lighting fixtures market in the United States is a billion-dollar industry and many big giants cover a large share of this industry. To sustain a small business in this industry, a good marketing strategy will be required.

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.

YearsAnnual Revenue
2023$183k *estimated

Funding Reports to Date!

YearsFunding AmountInvestor
2023$150kKevin O’Leary

Is Poplight Still In Business?

This portable wall light product looks quite attractive. Many people will buy this product after watching this episode of Shark Tank.

This Furniture and Home Furnishings Manufacturing Company is Headquartered in Denver, Colorado, United States, and has 2-10 employees working there as per LinkedIn profile.

Yes, Poplight is still in business as of January 2024.

frequently asked questions

Who founded Poplight?

Poplight was founded by Caroline Matthes and Rose Fierman.

Did Poplight get a deal on Shark Tank?

Yes, Poplight got the deal on Shark Tank. Kevin O’Leary had invested in this business.