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One pitch turned ‘Shark Tank’ into chaos — 5 Sharks battled over this magical book lamp

Lumio not only created history on ‘Shark Tank’ but also a magical experience, turning books into lamps.

Lumio, a self-described “book lamp,” appeared on Season 6 of ‘Shark Tank'. Its creator, architect Max Gunawan, didn't originally set out to design a lighting product. He was working on a modular folding home concept but hit a financial roadblock. That setback led him to create something smaller, more portable, and just as innovative. The result was Lumio, a compact lamp disguised as a hardcover book, according to Shark Tank Blog.

Gunawan walked onto the ‘Shark Tank’ stage seeking $250,000 in exchange for an 8% stake in his company. As soon as he opened the book-shaped lamp, the judges were clearly captivated by its design. Daymond John looked impressed, his jaw visibly dropped at the sight. Gunawan described his product as “a solution that gives you the freedom to experience beautiful lighting wherever you are.” Each judge described the product as either “really cool” or “beautiful.” He also demonstrated how the lamp could stick to any horizontal or vertical metal surface. Gunawan also added, “The best way to experience and understand the product is for you to really hold it in your hand.”

Soon, he handed out product samples to the Sharks. As he tested the product, Robert Herjavec smiled and said, “Oh, that’s so cool.” Kevin O’Leary followed with a serious question: “So Max, it's obviously battery operated. How long do the batteries last for?” Gunawan replied that the lamp can run for eight hours straight. “I don't want to just design something beautiful, I want it to be functional. So eight hours is enough power to last you overnight.” He also informed the Sharks that the lamp is rechargeable using a micro USB, adding that the product takes about three to four hours to get to the full capacity of eight hours. 

The judges appreciated both the product and Gunawan’s hands-on approach, he had even lived at the factory where the lamps were made. Herjavec was the first to make an offer: $250,000 for a 10% stake. However, Gunawan chose to hear the other Sharks’ offers first, a bold move. Which in turn was a massive move. O’Leary pointed out that Gunawan had valued his business at $3.1 million, adding “what if I valued your company at 6 million?” The offer that Mr. Wonderful made had everyone intrigued. “I am gonna give you the $250,000 and you are gonna pay it back to me until I double my money.” 

The shark also told Gunawan, “You’ll pay me $7 a unit, until I get $500,000 back, then that goes away in perpetuity, it’s gone.” O’Leary also asked for 4% ownership and offered to help finance the purchase. Mark Cuban’s offer was $500,000 for a 16% stake. But then Lori Greiner jumped in with $250,000 for a 12% stake plus a $25,000 line of credit. Entering the fight, John offered $750,000 for 20% plus a $10 million line of credit. O’Leary and John went back and forth, each trying to win Gunawan over, before Herjavec entered the game again with a slight modification in his offer. It was now $350,000 for 10%. This convinced Gunawan, and they shook hands on the deal.