“Shark Tank” Investors See Bright Future For EmazingLights
Anaheim, Calif. (PRWEB) March 17, 2015 -- EmazingLights CEO and founder Brian Lim’s appearance on the ABC show “Shark Tank” lit up its panel of investors. With offers from teams of Lori Greiner and Robert Herjavec versus Mark Cuban and Daymond John, Lim finally accepted the offer from Cuban and John for $650,000 in exchange for a five percent stake in EmazingLights for Cuban and 20 percent of licensing values for John. Shark Robert Herjavec also praised 27-year-old Lim as “the best entrepreneur we’ve ever had here.”
“Presenting to the tank was exhilarating and extremely validating. I couldn’t be more thrilled with the response after building EmazingLights and nurturing the fledgling sport of gloving,” said Lim. “With the involvement of Mark Cuban and Daymond John we will work to legitimize gloving and expand competitions worldwide.” Since Lim’s appearance on the ABC show, online traffic to the EmazingLights website surged to eight times its average week-over-week for three times the sales.
Lim bootstrapped his now 48-employee business with $100 to in 2010. By 2014 EmazingLights, focused on LED-lighted gloves and iHeartRaves, its sister brand with a focus on festival fashion and accessories, earned total gross revenues exceeding $17 million. The company continues to grow an estimated 20 to 30 percent year-over-year earning close to $8 million in sales in 2014 and projecting sales of $10 million for 2015.
Lim began his career at Deloitte as a business consultant who enjoyed technology and music festivals in his off hours. He tried on his first pair of light up gloves at an electronic music event and was surprised the gloves attracted a crowd around him. Feeling a rush of creativity and inspiration, Lim soon joined the fledgling underground art form called “gloving,” where dancers wear light gloves and perform mesmerizing light shows.
When Lim discovered there was not a legitimate business selling light show products, he immediately established his first EmazingLights storefront in the trunk of his car while throwing his own events, called Friday Night Lights, in the parking lots of In-N-Out Burger. Soon Lim opened up his first storefront in West Covina, CA, the company’s first retail presence.
Today Lim continues to host weekly Friday Night Lights events and has expanded support of the gloving community by organizing nationally scaled “BOSS” Gloving Competitions with an annual International Gloving Championship (IGC) in Southern California. EmazingLights also releases professionally filmed features of gloving on a weekly basis.
About Emazing Lights & iHeartRaves
Created in 2010, EmazingLights and iHeartRaves are for electronic dance music (EDM) fans and light show enthusiasts who want to share their passion for gloving and festival fashion. Both brands live under the mission to “inspire creativity and empower self-expression.” Bringing people together over their passions, Emazing Lights and iHeartRaves employ the most knowledgeable artists, engineers and fashionistas to bring its customers the best products in the market. For more information, products and retail locations, please visit http://www.emazinglights.com and http://www.iheartraves.com.
Brian Lim, [email protected], http://www.emazinglights.com, +1 6266286482, [email protected]
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