iLumi Light Bulbs Update | Shark Tank Season 5

Corey Egan and Swapnil Bora approached the sharks with their Bluetooth-enabled light bulbs that can set the mood via an app. It was a new technology at the time, and it came at a steep price. Did a shark give them a deal on Shark Tank Season 5? Find out in our iLumi update!

Shark Tank iLumi Update

iLumi Update

  • Entrepreneurs: Swapnil Bora, Corey Egan
  • Business: Intelligent mood lighting
  • Ask: $350,000 in exchange for 15%
  • Result: $350,000 in exchange for 25%
  • Sharks: Mark Cuban

Corey and Swapnil brought their iLumi bulbs to the tank. They were powered by an app that allowed them to run on a custom-automated schedule, or manually, with the user selecting from a menu of colors and light intensities.

ilumi Bluetooth Smart LED A19 Light Bulb, 2nd Generation - Smartphone Controlled Dimmable Multicolored Color Changing Light - Works with iPhone, iPad, Android Phone and Tablet

Amazing built-in Lighting programs to experience the perfect light for every occasion. Convenient individual & group control to turn your lights on/off or change the Color and brightness from your phone or tablet.

We earn a commission if you make a purchase, at no additional cost to you.

The patent-pending bulbs cost $289 for a three-pack, but Swapnil was quick to add that the bulbs could potentially last up to twenty years.

Barbara Corcoran couldn’t envision that people would want to use their electronic devices to power on and off their lights. Lori Greiner thought there was too much competition in the smart bulb market for her to safely invest. Both women were out.

Robert Herjavec felt the bulb’s ideal market was in high-end lighting, and he had an offer of $350,000 in exchange for 35% equity. The two asked for other offers. Mark Cuban offered $350,000 in exchange for 25%. Corey again started to ask for more offers, and Mark promptly withdrew his offer. Luckily, Corey was able to talk Mark into giving them another shot.

Kevin made an offer of $350,000 upon the company’s IP clearing, with the contingency that he be allowed to license it to a major light bulb manufacturer, in exchange for 15% of the royalty stream. The two turned down Kevin’s offer, and in the meantime, Robert dropped out, saying the market for the product was too limited.

Corey countered Mark, asking him to drop his equity from 25% down to 20%. Mark declined, and ultimately Cory and Swapnil accepted Mark’s original offer. What happened next? Keep reading our iLumi update to find out!

Now let’s get to that iLumi update. The company has been successful in the many years since appearing on Shark Tank. Bluetooth technology continues to evolve, and the company found other IoT applications for Bluetooth connectivity, which they license to manufacturers. In 2019, the company changed its name to MeshTek, and have an estimated revenue of $6 million. Products are available on the MeshTek website and on Amazon.

Would you like to learn about the other companies featured on Season 5 Episode 25? Follow the links below for our other company updates from the episode.

For even more on companies and products, be sure to stop by our Season 5 Products Page!

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Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!