In Shark Tank Season 15, entrepreneurs Caroline Matthes and Rose Fierman pitched their innovative lighting solution brand – Poplight.
Poplight offers wall sconces that easily attach to walls, simplifying the installation procedure.
But did the duo secure a deal on Shark Tank as effortlessly?
Or,
What happened to Poplight after Shark Tank?
Get to know all the details in our Poplight Shark Tank update and pitch recap…
If you’re short on time, here’s a quick overview of what happened to Poplight after Shark Tank:
Quick Summary
Caroline Matthes and Rose Fierman showcased their product on Season 15 of Shark Tank and successfully secured a deal with Kevin O’Leary. The agreement involved a $150,000 investment for 8% equity, along with a $2 per unit royalty until $500,000 is repaid, after which the royalty reduces to $1 per unit indefinitely. As for the latest Poplight Shark Tank update, the company is gearing up to ship orders starting in May 2024, and customers can place preorders directly on their website. Their appearance on the show is likely to result in a significant boost in orders.
Table of Contents
Poplight On Shark Tank
| Shark | Result |
| Kevin O’Leary | Accepted deal of $150,000 for 8% equity, plus $2 per unit royalty until $500,000 is made back. Then, the royalty drops to $1 per unit, in perpetuity |
| Barbara Corcoran | $100,000 as cash, plus $50,000 as a line of credit. Plus a $12 per unit royalty in perpetuity (Not Accepted) |
| Lori Greiner | No Offer |
| Robert Herjavec | No Offer |
| Mark Cuban | No Offer |
Poplight Shark Tank Deal
- Business: Renter Friendly Lighting Solution
- Entrepreneurs: Caroline Matthes and Rose Fierman
- Asked For: $150,000 for 8% equity
- Shark Tank Deal: $150,000 for 8% equity, plus $2/unit royalty until $500,000 is made back. Then $1/unit royalty in perpetuity
- Shark: Kevin O’Leary
Poplight Company Info
| Brand Name | Poplight |
| Official Website | thepoplight.com |
| @thepoplight | |
| @thepoplight | |
| poplight | |
| Where To Buy Poplight | Buy Now |
What Is Poplight?
Poplight is more than just a light fixture; it’s an innovation for simple and tool-free home lighting solutions. Designed as a wall sconce that installs without nails, screws, or drills, Poplight sticks directly to the wall with adhesive strips.
Installation is not only tool-free but also mess-free. Poplight’s base features a built-in level to keep the fixture straight, and it’s easily removable without damaging walls.
Powered by a rechargeable USB battery, the light can be turned on or off with a single tap or controlled via an app. It’s also dimmable, providing customizable ambiance for any room.
With such a convenient setup, Poplight solves common pain points for renters and homeowners who want stylish lighting without permanent modifications.
The innovation doesn’t stop there, as the product’s design patent and two pending technology patents give it an edge over similar products in the market.
Poplight Founders: Rose Fierman and Caroline Matthes
Rose Fierman and Caroline Matthes, the founders of Poplight, are a dynamic married couple from Denver, Colorado, who developed their innovative lighting solution while setting up their first home together.
Frustrated by the lack of modern, budget-friendly wall lighting that didn’t require professional installation, they were inspired to create a hassle-free, stylish alternative for people facing similar challenges.
Poplight was born from their vision of a rechargeable, non-wired wall sconce that could be mounted without tools or electricians. This user-friendly solution provided an affordable and elegant way to add lighting to any space, making Poplight a unique answer to the limitations of traditional wall sconces.
Shark Tank Poplight Pitch
During their Shark Tank pitch, Poplight founders Caroline Matthes and Rose Fierman showcased their innovative wall-mounted lighting solution.
Designed to offer a sleek, easy-to-install lighting option for any room, Poplight requires no tools or technical expertise to set up, a feature that intrigued the Sharks. Each Poplight fixture attaches to the wall using adhesive stick strips and includes a built-in level to ensure a straight installation.
Not only are these strips easy to apply, but they can also be removed without damaging walls, allowing users to reposition the light whenever they want.
Caroline and Rose explained that Poplight runs on a rechargeable USB battery, with a charge lasting between 5 and 9 hours, depending on the brightness setting.
For added convenience, the lights can be turned on or off with a simple tap, and users can adjust brightness either manually or via a mobile app. The flexibility and user-friendly controls set Poplight apart from conventional wall lighting options.
At the time of their pitch, however, Poplight was still in its prototype phase, with the models presented on Shark Tank being part of their initial production.
Poplight On Shark Tank: Sales and Cost Breakdown
The founders revealed that Poplight retails for $95 per unit and costs $30 to produce, providing them with a profit margin of approximately 68%.
Discussing Poplight’s early sales, the founders shared their recent Kickstarter success, where they raised over $170,000 in just 4 weeks, hitting their funding goal within the first 20 minutes of launching.
They also revealed a looming inventory challenge, as they expected to run out of their initial product run in about four months, even though they hadn’t shipped any orders yet.
Despite being backordered, they also recently gained $5,000 in sales through their newly launched website.
Sharks’ Queries On Poplight Shark Tank Pitch
When Barbara Corcoran inquired about the battery charge duration, Caroline and Rose confirmed it takes about 4 hours to charge fully and can last up to 9 hours, depending on brightness.
They added that Poplight can also remain plugged in, eliminating any need to worry about battery life.
Lori Greiner asked if there were similar products on the market. Caroline and Rose responded that they couldn’t find anything comparable, which led them to develop Poplight.
They hold a design patent for Poplight’s structure and have two additional patents pending: one on the adhesive tape technology and another on the swivel mechanism that locks the light to its base.
Sharks’ Offers For Poplight Shark Tank Pitch
After learning about the business and product, Kevin O’Leary made the first offer, proposing $150,000 for 8% equity in Poplight, along with a $2 royalty per unit until he recouped $500,000, after which the royalty would decrease to $1 per unit in perpetuity.
Barbara Corcoran followed with a unique offer of $150,000, asking for no equity but demanding a $20 royalty per unit sold, also in perpetuity. Her offer had the potential to provide immediate cash flow without diluting ownership but required a high unit-based royalty.
Robert Herjavec appreciated the product but felt Caroline and Rose could succeed independently and advised them to consider Kevin’s offer. Ultimately, he decided to bow out.
Lori Greiner expressed doubt about the market demand for Poplight and also declined, while Mark Cuban dropped out as well, citing concerns about unresolved aspects of the product.
Faced with two competing offers, Caroline and Rose began negotiating, first countering Barbara’s proposal by suggesting a $12 royalty instead of $20. Barbara modified her offer, proposing $100,000 in cash with a $50,000 line of credit, paired with a $12 per unit royalty.
Caroline and Rose then turned to Kevin, asking him to reduce his recoupment threshold from $500,000 to $350,000, but Kevin declined.
Poplight Shark Tank Deal
In the end, Caroline and Rose opted to accept Kevin’s offer of $150,000 for 8% equity, with a $2 royalty per unit until he reached $500,000, dropping to $1 in perpetuity thereafter.
This partnership aligned Poplight with a strategic investor who could add value to their expanding business, positioning them to tackle upcoming production and distribution challenges with confidence.
So, what happened to Poplight after Shark Tank? Keep reading our in-depth analysis on Poplight Shark Tank Update to find it out.
Poplight Shark Tank Update
So, what happened to Poplight after Shark Tank appearance?
Well, according to our Poplight Shark Tank Update: Rose Fierman and Caroline Matthes shared exciting updates on Poplight’s rapid growth and future plans following their appearance on Shark Tank.
They noted a remarkable 1,500% surge in orders after the episode aired, catapulting Poplight’s visibility and enabling them to connect with a broader community through social media.
Rose remarked on the inspirational aspect of sharing their story with other entrepreneurs, while Caroline added that when Shark Tank approached them, they knew they had to seize the opportunity.
Although the deal with Kevin O’Leary hasn’t been finalized, Rose and Caroline are optimistic. The two have been focusing heavily on operations to keep up with demand but are still in discussions with Kevin to bring the agreement to completion.
Looking forward, they’re planning to expand Poplight’s offerings with new styles and additional color options, giving customers more variety.
“It’s so inspiring to see entrepreneurs share who they are and what they’re doing,” Rose told during an interview. “Shark Tank reached out to us and we felt like we couldn’t say no,” Caroline added.
Currently in the presale stage, Poplight is scheduled to start shipping in May 2024, with products available for preorder on their website in six different colors.
Caroline and Rose’s journey with Poplight continues to brighten, and we look forward to seeing what they accomplish next!
Poplight Shark Tank Net Worth
As of their appearance on Shark Tank, Poplight’s net worth remains closely tied to the company’s early success and its valuation from investor interest.
During their pitch, the founders, Caroline Matthes and Rose Fierman, received a $150,000 offer from Kevin O’Leary in exchange for 8% equity, along with a royalty structure.
This valued the company at around $1.87 million, indicating promising potential based on their unique product concept and their strong Kickstarter sales, which raised over $170,000 in just four weeks.
Since the episode aired, Poplight’s popularity has surged, leading to a substantial increase in orders. This growth, along with the founders’ plans for expanding product designs and colors, positions the company well for a rising net worth.
While the deal with Kevin is still pending, the additional exposure from Shark Tank has undoubtedly contributed to the brand’s rapid increase in value.
Did Poplight Get A Deal On Shark Tank?
Yes, Poplight did secure a deal on Shark Tank. The founders, Caroline Matthes and Rose Fierman, ultimately accepted an offer from Kevin O’Leary.
Kevin offered $150,000 for 8% equity in the business, along with a $2 per unit royalty until he recouped $500,000. After that, the royalty would drop to $1 per unit in perpetuity.
Despite other offers on the table, the entrepreneurs decided to go with Kevin’s proposal, believing it would provide the right support for their growing business.
While the deal has not been finalized yet, Caroline and Rose remain hopeful that it will close soon. The duo has been focused on operations and fulfilling the surge in orders since the Shark Tank episode aired, and they’re still working with Kevin to finalize the agreement.
Poplight Reviews and Customer Feedback
As Poplight continues presales, initial customer feedback has been positive, especially from those who appreciate the flexibility of a portable lighting solution that doesn’t require installation tools.
The product’s ease of installation, coupled with its dimmable lighting features and app control, has resonated with tech-savvy and design-conscious consumers alike.
Reviewers also appreciate that Poplight solves the challenge of temporary lighting without leaving marks on walls. With these features, it appeals to renters who want stylish decor options but can’t make permanent changes to their space.
While some customers note that battery life could be longer, the option to keep the light plugged in offers a viable workaround.
Where To Buy Poplight?
Poplight products are currently available for preorder on their official website. Customers can choose from six vibrant color options and secure their lights ahead of the official shipping date in May 2024.
The presale offers a great opportunity to get early access to the innovative, easy-to-install wall sconces that have gained popularity since the Shark Tank episode aired.
To purchase Poplight, simply visit their website, where you can find more information about the product and place your order. With a unique design and easy installation, Poplight is quickly becoming a must-have lighting solution for homes looking for a stylish and convenient upgrade.
Current Status and Future Prospects of Poplight
As of now, Poplight remains in the presale phase, with shipments expected to begin in May 2024. Caroline and Rose have also been proactive in enhancing the Poplight product line, introducing six color options and developing a second style for future releases.
Their patents provide a competitive advantage, as they secure Poplight’s innovative design and technology against imitators. By staying focused on product development and inventory management, the founders plan to meet the high demand, ensure quality, and continuously evolve their offerings to keep customers engaged.
FAQs On Poplight Shark Tank Update Today
Who Owns Poplight?
Poplight is owned by Caroline Matthes and Rose Fierman, a married couple from Denver, Colorado. They co-founded the company after identifying a need for an easy-to-install, modern wall sconce that didn’t require traditional wiring or tools.
Did Poplight Get A Deal On Shark Tank?
Yes, Poplight secured a deal on Shark Tank with Kevin O’Leary. He offered $150,000 for 8% equity, plus a $2 per unit royalty until he recoups $500,000, after which the royalty would drop to $1 per unit in perpetuity.
Is Poplight Still In Business?
Yes, Poplight is still in business. The company is currently in the presale stage, with plans to begin shipping in May 2024. Despite the deal with Kevin O’Leary not closing yet, the founders are optimistic and continue to expand their product offerings.
What Happened To Poplight After Shark Tank?
After appearing on Shark Tank, Poplight experienced a massive 1,500% increase in orders. The founders, Caroline and Rose, are still working with Kevin O’Leary to finalize their deal, and the company is preparing to begin shipping in May 2024. Poplight is currently in the presale stage, offering their wall sconces in six color options.
Final Thoughts: Poplight After Shark Tank
The journey of Poplight from concept to an anticipated market release has been inspiring.
Caroline and Rose’s appearance on Shark Tank has brought national attention to their brand, accelerated sales, and opened the door to valuable business insights from Kevin O’Leary.
In this Poplight Shark Tank update, it’s clear that the founders have not only met the immediate challenges of launching a product but are also committed to refining and expanding their line.
With strong consumer interest, innovative features, and a strategic approach, Poplight is well-positioned to continue growing in the lighting industry.
FYI, we may come up with the another Poplight Shark Tank Update once we get any inside news.
In the meantime, you can check out more Company Updates on Shark Tank Season 15 Episode 11 by clicking on the links below:
- The Table Tyke After Shark Tank Update
- Like Air Puffcorn After Shark Tank Update
- The Duo Umbrella After Shark Tank Update
Before you go, make sure to visit our Season 15 Company Updates Page, All Company Updates Page and Shark Tank All Products Page for more information on various companies and products featured in the Show.
At the same time, you can FOLLOW our blog to get the latest updates on businesses featured in Shark Tank Show. And, if you have any questions, you can send us message at your convenience.
Lastly, you can check out more Company Updates for the businesses featured in Shark Tank Season 14 by visiting our Season 14 Company Updates Page.
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