Lumi Shark Tank Update
Lumi created Inkodye, a UV- and sunlight-responsive dye. Shark Tank viewers loved this product. But did the company get a deal?
So, what is the Lumi Shark Tank update? The owner, Jesse Genet, asked for $250,000 for 5% of her company. But Shark Kevin O’Leary offered two options, whether $250,000 for 50% equity or $250,000 for 36 months at 8.5% interest for 12.5% equity. Later, Shark Lori Greiner said she would join Kevin in that deal. But after some negotiating, eventually, all Sharks dropped their offer.
So there was no deal. In this article, I will discuss Lumi’s Shark Tank debut and growth. So, without further ado, let’s dive in.
Lumi Shark Tank Profile
I have created a table where you can learn about the company in short. Here’s the Lumi Shark Tank profile:
| Company Name | Lumi |
| Founders | Stephan Ango and Jesse Genet |
| Founded | 2009 |
| Product | Inkodye |
| Photo Reactive Dye | |
| Packaging | |
| Business Status | In business |
| Episode (Shark Tank USA) | Season 6, Episode 19 |
| Asked For | $250,000 for 5% |
| Final Deal | No Deal |
| Shark | No Shark |
| Net Worth | $7.5 million |
| Air Date | February 13, 2015 |
| Headquarters | Los Angeles, California, US |
| Watch On | Amazon Prime |
| Website | Visit Website |
Overview of The Lumi Company
Lumi was founded in 2015 by Stephan Ango and Jesse Genet in Los Angeles. The company created Inkodye, a vat dye that changes color when subjected to UV or sunlight.
However, after realizing the packaging industry needed a significant overhaul, Genet and Ango decided to use their technology to create a new packaging supply chain software.
Lumi’s packaging and supply chain management platform helps businesses of all sizes create, source, manufacture, and track packaging. The platform provides sustainable material options and carbon footprint tracking to help businesses reduce their environmental impact.
How Was Lumi on Shark Tank Episode?
The Lumi Shark Tank episode was on Season 6, Episode 19. In that episode, the owner Jesse pitched about Lumi, a company that uses the sun to print clothes and accessories permanently.
She showed how Lumi’s app can be used to create Negatives. It can then be printed on fabric using a special dye and exposed to the sun in just 10 minutes.
Jesse highlighted the growing DIY movement and the demand for home printing crafts. She also announced that Lumi offers both printing kits and online printing services.
Jesse showed the Sharks that Lumi had made $1 million in sales the year before and had 70%–90% margins. Lumi’s printing kits, which cost $39.00 and $6.49 to make, contributed to this.
Mark Cuban and Barbara Corcoran left the deal because Lumi did not impress them. However, Lori Greiner and Kevin O’Leary wanted to invest in the company.
O’Leary offered Jesse $250,000 for 50% equity, but Greiner wanted to join him. They lastly offered Jesse $250,000 for 36 months at 8.5% interest and 12.5% equity. But finally, there was no deal.
What Happened To Lumi After Shark Tank?
Despite not securing a deal on Shark Tank, Lumi after Shark Tank, has continued to grow and is now a successful company. The company has expanded its product line to include a variety of different printing kits and accessories, and it also offers a custom printing service. Lumi’s products are popular with DIYers, artists, and businesses alike.
The company has been featured in a number of publications, including Forbes and Entrepreneur. Lumi now offers printing kits and services in over 50 countries. Their printing process uses no harsh chemicals or energy-intensive machinery, making it more sustainable.
Lumi also offers custom printing in addition to its kits and services. Businesses can use this service to make branded t-shirts, hats, and bags. Lumi’s custom printing service is popular with businesses seeking a sustainable and affordable brand promotion.
Lumi’s Net Worth
Lumi is a great example of what can happen after Shark Tank, even without a deal. Lumi has built a successful business that improves the world through hard work. Lumi today is worth $7.5 million. A company that prints clothes, accessories, and packaging, seven million dollars, is impressive and shows Lumi’s success.
Lumi’s Sales data
As a private company, Lumi does not share its sales data publicly. But here is a table of the company’s sales data in 2015 & 2022.
| Year | Sales | Sold In |
|---|---|---|
| 2015 | $1 million | Over 50 Countries |
| 2022 | $2.5 million |
Is Lumi Profitable Now?
From the Lumi Update, you can surely see the company is still profitable in the present day. They have also shifted their focus to Packaging for small businesses all over the country. This decision made their company skyrocket in sales.
Now, Lumi serves startups and large companies in e-commerce, fashion, food and beverage, and consumer packaged goods. Lumi targets businesses of all sizes that want a more efficient, sustainable, and transparent packaging supply chain.
Conclusion
Based on what I have discussed so far, I think you have a good idea about the Lumi Shark Tank update. In the market, Lumi has grown very quickly. This shows that if you have a great idea, you can be successful even if you only have a small customer base.
Despite being rejected from the Shark Tank, the company saw every possibility. They have started again on their own and created a packaging section.
During the pandemic, there were a large number of small businesses growing up. Using Lumi’s innovative packaging idea, other small businesses grew along with Lumi.
