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Illumibowl Net Worth 2022
IllumiBowl Net Worth 2022
IllumiBowl is a motion-activated toilet night light designed to make nighttime bathroom trips more comfortable and effortless, as well as liven up any bathroom for guests. Created by college students when featured on Shark Tank, its popularity has since skyrocketed with high-profile investors investing millions and partnerships being established with large retailers to broaden distribution channels. The two founders currently work on expanding the product’s distribution further.
Matt Alexander and Mike Kannely came into the Shark Tank seeking $100k in exchange for 15% equity of their company, explaining they had spent time developing their product, which they believed had great potential going forward. But the Sharks weren’t too optimistic; Mark Cuban refused any investment capital while Daymond John said no–in this instance, regarding investing in toilet night lights! Luckily Kevin O’Leary agreed to invest instead, offering his terms which led them to secure a deal with Bed Bath & Beyond.
Sales of the Illumibowl have seen steady increases since appearing on Shark Tank. A season 8 update segment revealed that revenue had reached $2 million annually; partnerships had also been established with major retail outlets and new products were being developed that will expand their market presence further.
Ranjith Babu and Akshita Iyer have built a successful tech company from scratch and amassed significant wealth as entrepreneurs. Since 2017, when they founded Inirv Labs they have successfully run Kickstarter campaigns that fund their smart cooking knob project which detects when someone touches it to prevent kitchen accidents while cooking safely for themselves and their loved ones.
The Inirv smart knob has raised over $430,000 – far surpassing its initial goal of $40,000. At present, each device costs $179 with preorders made before May 1 being delivered in fall. By early 2023, this device should be available for sale. Based in Durham, North Carolina and supported by multiple investors such as North Carolina Innovation Fund and Duke University Angel Network among others. Additionally, the company enjoys an impressive social media following of over 70,000 on Facebook and 21,000 on Instagram – providing essential feedback and support that has contributed greatly to its success. Furthermore, several podcasts have covered them as well as having strong representation in gaming industry.