Revolights what happened? Revolights Shark Tank update
by Ushapriyanga
Updated Apr 13, 2023
Revolights what happened?
Revolights, a company that gained popularity for its innovative bike lighting technology, has ceased operations as of January 2019. The company's founder, Kent Frankovich, cited personal and professional reasons for the closure in an email to customers and investors. Although disappointed, some followers of the company had noticed red flags, such as product backorders, leading up to the announcement. Despite the closure, Frankovich expressed hope that Revolights' technology, patents, and brand could find new life in the future. For those seeking similar bike lighting options, California-based company Monkeylectric offers a more affordable alternative.
Revolights Shark Tank update
Regrettably, Revolights has ceased operations, disappointing both its founder Kent Frankovich and his team, as well as the company's many fans and early supporters. In 2014, Kent Frankovich, a California-based entrepreneur and mechanical engineer, pitched his company Revolights on the television show "Shark Tank" as a "revolutionary new bike accessory." During his pitch, Frankovich highlighted his academic background at Stanford and his work with NASA before securing a deal for twice the amount he originally sought.
Frankovich explained that Revolights, which consisted of "intelligent rings of LEDs that mount to your wheels and synchronize to your speed," addressed the issue of inadequate side visibility that causes 70% of nighttime car-on-bike collisions. The product aimed to increase riders' visibility and presence, ultimately leading to a reduction in avoidable accidents.
Revolights Net Worth
As of 2023, the net worth of Kent Franovich, the founder of Revolights, remains unknown. Revolights appeared on an episode of Shark Tank America in March 2014. However, the company is no longer in operation since 2019, and its current net worth is unknown. Our online research indicates that Revolights went out of business in 2019, and its product is no longer available in the market.
Revolights ’s Net worth before appearing on Shark Tank
1.5 Million USD (business valuation)
Revolights ’s Current Net Worth (2023)
Out of Business
Episode
Season 05 Episode 19
Company name
Revolights
Product
Bike lighting system
Founder
Kent Franovich
Asked for
$150,000 for 10% Equity
Final deal
$300,000 For 10% Equity
Shark
Robert Herjavec
Business status
Out of Business
Location
USA
Specifications
Details
Shark Tank
ABC's Shark Tank, a business reality television series that debuted on August 9, 2009, is based on the international format Dragons' Den, which originated in Japan in 2001 as Money Tigers. On the show, entrepreneurs pitch their business ideas to a panel of five investors, or "sharks," who determine whether or not to invest in their companies. The show has consistently been a rating hit during its time slot and has won the Primetime Emmy Award for Outstanding Structured Reality Program four times (2014–2017) in the first four years of the category's existence. It also won Outstanding Reality Program in 2012-13.
Revolights What Happened - FAQs
Shark Tank is an American reality TV show in which entrepreneurs pitch their business ideas to a panel of five investors, or "sharks," who then decide whether or not to invest in the companies.
The first episode of Shark Tank aired on August 9, 2009, on ABC.
On Shark Tank, entrepreneurs pitch their business ideas to a panel of investors, who then ask questions and decide whether or not to invest in the companies. If a shark decides to invest, they negotiate with the entrepreneur on the terms of the deal.
Shark Tank is based on the international format Dragons' Den, which originated in Japan in 2001 as Money Tigers.