📊 Company Information
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Amber Net Worth
Amber was valued at $1 million on Shark Tank, but is now defunct, with a net worth of zero. The product is off the market and social channels are inactive, with the founders now working in unrelated fields as of 2025.
Amber was pitched on Shark Tank Season 6 by founders Bill Shuey and Kyle Byrd, who sought $200,000 for 20% equity. Their concept was a self-locking phone charging station designed for public venues like bars, airports, and restaurants.
Customers would drop their phone into a compartment, lock it with a fingerprint scan, and retrieve it after charging—while venues paid to buy or lease the station.
The sharks immediately raised concerns: the fingerprint scanner technology seemed unreliable at the proposed cost; manufacturing costs ($1,000 per unit) were too high; and competitors offered free charging alternatives.
They also challenged whether consumers really needed this high-security approach for their phones. The team was pre-revenue and had invested about $11,000 so far. Ultimately, all the Sharks passed, with Kevin O’Leary memorably calling Amber “one of the worst ideas he has ever seen.”
After Shark Tank, Amber did briefly try to continue by lowering leasing prices and pursuing event/festival installations. However, lingering doubts about security, high development costs, and lack of buyer trust led to little traction. By the end of 2015, Amber was closed. The founders moved on to other careers in tech and product management.
