Lumio

Lumio is a design-led lamp that looks like a closed hardcover book. Opening the cover unfolds a fan of light. It was created by designer Max Gunawan, who is estimated to be based in San Francisco. Before television, Gunawan launched the lamp through a Kickstarter campaign, raising far more than his goal, and he told the sharks the product had reached seven-figure sales without traditional advertising. Business Insider reported those figures. He pitched in Season 6, Episode 15, seeking $250,000 for 8% of the company, which implied a valuation of about $3.1 million. According to Inc., every shark on the panel was interested, and Wikipedia's season list records that a deal was made. He accepted Robert Herjavec's offer of $350,000 for 10%, Business Insider reported. Whether the deal closed after taping is reported only by fan sites, so we leave that out. Lumio is a good example of a crowdfunding success that came to Shark Tank with proof of demand already in hand. Its appeal is as much about looks as about light. The lamp and related products are sold through the company's own site, hellolumio.com. Our search did not turn up an official brand listing on Amazon, only look-alike products, so buyers should be careful with third-party listings. Current revenue has not been verified. The crowdfunding details and the bidding are covered in the update below.