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Studio lights went dark before his pitch— but this ‘Shark Tank’ founder’s glowing gloves got a $650K deal

Emazing Lights was one of the best pitches seen on ‘Shark Tank,’ which was introduced by the entrepreneur, Brian Lim.

You might have seen a sportsperson take the stage to promote a friend's product or even someone letting the Sharks shave his chest hair. But Brian Lim brought an entire performance to the ‘Shark Tank’ stage. The entrepreneur, Brian Lim, pitched his product, Emazing Lights, to the Sharks. Lim made an appearance on Season 6 and mesmerized the judging panel with a show using his light-emitting gloves. 

As per Shark Tank Recap, Lim brought a dance crew, dimmed the lights, and turned up the music to stage an impressive performance. It was both the crew’s finger choreography and Lim’s sales figures that intrigued the panel. According to the outlet, the entrepreneur was seeking $650,000 for 5% equity. To introduce the product, Lim removed his mask and presented Emazing Lights to the Sharks. He first thanked the dance crew, which even had a little kid, for their amazing performance. Lim then told the judges, “Sharks, it’s your turn to join the gloving movement.” He asked a team member to hand out gloves to the Sharks. These were the “personalized Elight chroma glove sets.” 

As the Sharks tried on their gloves, Kevin O’Leary was the first to ask for more details. “So Brian, how big is the glove in the market?” Mr. Wonderful asked. He then went on to state, “because you’ve imputed a value on gloving of $13 million. Cuz you’ve asked me for $650,000 for 5%.” Adding that the deal was a “very big number, and I’m going to assume you have some incredible sales to get me excited about.”

Lim explained that in the four years since launching, the company had generated $13 million in sales. That impressed Lori Greiner, who exclaimed, 'Wow!' O’Leary then asked about projected sales for the current year. Lim responded that the company was aiming for $5.5 million in sales and was on track to meet that goal. According to Lim, the products retailed for $20 to $120, with production costs between $10 and $17 per unit. Over 90% of sales came from online customers.

These numbers caught the Sharks’ attention. Soon, O’Leary jumped in to offer $650,000 as a loan in exchange for 3% equity, a deal that Lim declined. Next, Daymond John offered $650,000 in exchange for 20% of any licensing deals he secured. Greiner and Robert Herjavec teamed up to offer $1 million for 8% equity. Mark Cuban joined Daymond John to offer $650,000 for 5% equity, with John receiving 20% of licensing deals. After some back-and-forth negotiation, Lim accepted the deal from Cuban and John.