Malaysian student came to US with nothing, built $7M business — and left 'Shark Tank' judges in tears
'Shark Tank' is known for dishing out brutal advice and the no-nonsense attitude from investors like Mark Cuban, Lori Greiner, and Kevin O’Leary. However, when Amber Leong, founder of Circadian Optics, appeared on the show, the judges gave us a glimpse of their emotional side. Leong appeared on season 11 of the show, seeking $750,000 for 10% equity in her company. In her pitch, she addressed a growing modern-day challenge and said, "Today, all of us slog away inside a dark office all day. We’re not getting enough light, and this is disrupting our body clock and making us tired and unhealthy."
Introducing her product, Circadian Optics bright light therapy lamp, Leong explained, "It mimics the color and the brightness of the sun, and using this for a minute will set your body clock for the day ahead." She added, "It's a mini sun for your desk." Leong also shared that while she was originally from Malaysia, but currently lives in Minnesota. Due to limited exposure to sunlight, both from living in the sun-starved state and also being tied to a demanding corporate job, her health began to deteriorate. She started feeling sluggish and was not able to sleep at night.
As a result, she installed a light therapy lamp at her desk, but soon realized that even though the device worked, it took up a lot of space on her desk and made her look like a "crazy person" in the office. So she set out to create a more "stylish" looking version of the product. When shark Rohan Ozza challenged her valuation of the company, Leong was quick to share the numbers: "My lifetime sales are $7.4 million." However, responded, "I hate lifetime sales, what about the annual sales?" he asked, to which the entrepreneur replied, "Last year I had $4 million in sales."
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When Grenier asked about her backstory, Leong shared that she grew up in poverty in Malaysia, and coming to America was always her dream. Her parents broke their retirement funds, borrowed money, and sent her on a one-way ticket for college, with enough money to cover only one semester. Holding back her tears, she told the investors that just nine months after coming to America, she was diagnosed with toxic shock syndrome, and the doctors gave her only a 50% chance of survival. She revealed her parents were not able to visit her as they didn't have a U.S. Visa. "But I survived!" Leong said, before concluding, "It gave me a new perspective in life," bringing both Mr. Wonderful and Greiner to tears.
Cuban was also moved by Leong's story and said, "You represented why we all do this show." He added, "You represent everything great about entrepreneurship and the American dream. You are freedom." Both Cuban and Greiner partnered to offer Leong $750,000 for a 20% equity split evenly between them. O’Leary and Barbara Corcoran proposed the same offer, but Greiner quickly topped the offer with an additional $50,000 for Leong's parents. The entrepreneur eventually made up her mind and said, “I know I should negotiate and be a good business partner,” Leong said. “But I’m here for Lori and Mark. You have a deal.” O'Leary said, "It was one of the best presentations ever."