Circadian Optics Shark Tank Update: Did it Survive the Competitive Industry?
Amber Leong, the founder of Circadian Optics, walks in front of the Sharks with her ask of $750,000 for an equity share of 10% in her business.
Leong brings her life story of how she struggled through and survived the odds. The Sharks were impressed by her courage and bringing in such portable, sleek, designed light therapy lamps that can help many people. Her story was so inspiring that it even brought tears to Mr. Wonderful.
Later on, Mark Cuban and Lori Greiner offered her $750,000 with an extra $50,000 for a share of 20% in the business. Amber shook hands and finalized the deal.
But how’s the business doing today? What’s the Circadian Optics update? The Circadian Optics Shark Tank update blog here will give you insights!
Circadian Optics Shark Tank Profile
The table here represents Amber’s Circadian Optics Shark Tank profile and data.
| Company Name | Circadian Optics |
| Product Type | Light Therapy Lamps |
| Founder | Amber Leong |
| Founded In | 2016 |
| Net Worth | Around $22 Million (Not Yet Disclosed, Just an Estimation) |
| Shark Tank Season | 11 |
| Episode No | 2 |
| The episode aired in | October 6, 2019 |
| Asked investment | $750,000 |
| Equity Stake | 10% |
| Valuation | $7.4 Million |
| Shark’s Offer | $750,000 + $50,000 extra at 20% |
| Deal Closed At | $750,000 + $50,000 extra at 20% |
| Deal Secured By | Mark Cuban and Lori Greiner (But the deal was not pushed after the show) |
| Current Business Status | Ongoing |
| Circadian Optics Headquarters | Minnesota, the US |
| Circadian Optics Website | Click Here (The Site Gets Redirected to Amazon) |
| Watch on | Amazon Prime |
| Buy product | On Amazon |
How Amber Came Up With Circadian Optics?
The founder of Circadian Optics, Amber Leong, is a Malaysian resident. She got her financial backup to get her US degree from her parents. Therefore, to support her family, she initially took a job in Minnesota.
However, the job was far more challenging than it appeared. She had to work for long work hours and was required to spend excessive screen time.
Plus, the dimming lights in the office badly affected her sleep cycle and also her health. Later, she bought a therapy lamp to eliminate this problem. However, her colleagues made fun of her for the lamp’s huge and unsuitable size.
This is where she got the idea of creating a light therapy lamp that was portable, fashionable, and small in size. Thus, Circadian Optics was launched in 2016!
What Happened to Circadian Optics After Shark Tank?
The Circadian Optics Shark Tank episode was a huge buzz in the light therapy industry. This is because not only did Amber impress the Sharks, but also managed to secure a deal from two of the mega Sharks, Mark and Lori.
However, it has been reported that after the show, Amber didn’t confirm the deal, and the deal was never processed further. And the reason is still not known.
Despite not having a deal yet getting a deal, the exposure in the tank did give Circadian Optics a good response in the industry. And this resulted in Forbes and The Wall Street Journal featuring the company in their magazines.
Moreover, to date, Circadian Optics has kept bringing in more products in their line with new designs and styles. And people can easily purchase them on Amazon or their website (which is redirected to Amazon).
Circadian Optics Net Worth
Even before appearing in the Shark Tank, Circadian Optics had a net worth of around $7.4 million.
As of now, the exact figures are not disclosed. However, based on Amber’s expected sales of $5.6 million in 2019, it appears the net worth might have crossed $13 million in 2020.
And according to some reports, from 2021, the annual sales stayed at $4 million. Therefore, taking these data under consideration, the net worth in 2023 would be $22 million (and still counting).
Circadian Optics Sales Data
The table below provides rough sales data for Circadian Optics. Read on till the end of the chart.
| Years | Total Revenue |
|---|---|
| 2016 to 2018 | $7.4 Million |
| 2019 | $5.6 Million |
| 2020 | Around $13 Million (It’s an approximate figure) |
| 2021 to 2023 | $4 Million annual sales |
Is Circadian Optics Profitable at This Moment?
Yes, Circadian Optics is quite profitable to date. You’ll find the company’s light therapy lamps in different sizes.
And one of the significant reasons for the company’s growing success is that it’s being sold through Amazon. This also gave the company quite some boost in popularity.
Circadian Optics today has seen drastic growth in popularity, and it’s been estimated that the company is generating $4 million per annum in sales.
According to Amber, the success behind her company is intense hard work and dedication to solve a major problem. And Shark Tank is one of those sources that helped her to take a huge leap.
Current Competitors of Circadian Optics
- Sunbox and GroLux
- Northern Light
- Verilux
Bottom Line
Circadian Optics has been one of the major successes in the Shark Tank. And if you ask how was Circadian Optics on Shark Tank, then you’ll know it’s one of the most inspiring businesses of all!
Although the deal wasn’t pushed after the show, the business, to date, has been making approximate sales of $4 million a year. And so far, Circadian Optics is one of those still profitable companies.
