Revolights brings attention to your bicycle in a way that no other reflector design has managed to achieve. Lights run the entire circumference of the rim.
Revolights addresses side car bicycle collisions
The front Revolight is white, and the rear light is red. The company sells a wheel with the lights installed, as well as kits to fit on standard wheels.
They have two utility patents and are open to licensing them to the two most significant bicycle manufacturers.
They have less than twelve months worth of online sales at $600,000. Each set front or back for costs $139, or $229 for the full set. Revolights costs them $100 to make the $229 light set. The company is not profitable yet.
Entrepreneur: Kent Frankovich
Ask: $150k for 10% equity
From: San Francisco, California
Companies in this episode: SqueekyKnees, Buffer Bit, U-Lace
Season: Season 5 Episode 519
Sharks: Mark Cuban, Robert Herjavec, Kevin O'Leary, Lori Greiner, Robert Herjavec.
First Aired: 03/07/2014
Deal: Robert Herjavec at $300,000 for 10% equity
What do the Shark Tank Investors say about Revolights
Mark Cuban agrees with Robert that it is worth more. He thinks there is no chance on Earth that this deal will close. Mark thinks he is there for publicity because he didn't even put up a little smile when Kent received an offer that is double what he wants.
Daymond John makes an offer or $300,000 for 30%
Kevin O'Leary offers the $150,000 for a 7% royalty that drops to 1% after Kevin receives the original $150,000 back. He declines Kevin's offer because he doesn't want to disturb his cash flow.
Lori Greiner doesn't make an offer.
Robert Herjavec thinks he undervalued the business and will give him $300,000 for 10%. This offer rattles Daymond causing him to tell him to put in his mouthpiece because this is about to get ugly. He thinks Robert gave him a generous offer and he goes out.
Revolights after Shark Tank
Mark Cuban accused Kent Frankovich of not wanting a deal with the Sharks that ended up in a big debate. Robert Herjavec's website issued a press release saying Robert secured the agreement with Revolights and the company is expanding.
Revolights is available for sale online through Amazon here.