ActionGlow Shark Tank Update – Net Worth 2024

Sports are healthy and fun, but they can be even more fun when they are customized and styled. Sports gear like skateboards, snowboards, and surfboards are really fun to enjoy. But as night comes it’s very boring to have plain and old-fashioned boards. So Actionglow found a new way.

Actionglow is a company that lights up your sports gear with LED lights. They offer a fixed rate to add an LED light to your boards so you can lighten up at night. They offer different rates for different gears. Entrepreneurs and brothers, Dakota and Garret Porter are ready to style your sports equipment on demand.

The pitch was good, and sales were average. They demand for $200,000 for 15% equity. Sharks liked the product and were impressed by the passion of the young entrepreneurs. But will the Sharks invest in lighting up the sports gear? Let’s find out.

Actionglow Net Worth

Dakota and Garret Porter asked for a $200,000 investment in exchange for 15% equity in their company. This meant they valued their company at approximately $1.33 million. They made a deal with Robert for $200,000 in exchange for 30% equity in their company. This new deal valued their company at approximately $667k. After the show aired, Actionglow saw a big increase in website traffic and sales and partnered with local manufacturers. With an estimated 10% yearly growth rate, the current net worth of Actionglow is about $878,355.

Actionglow Shark Tank Update

What Happened to Actionglow After Shark Tank

After the episode was aired, the profits skyrocketed. There was an immediate effect which led to $60,000 in sales. Moreover, they now have local manufacturers like Z-Mask Assemblies and Grand Traverse Tool. They are now available on Amazon as well. The business is running to new heights. 

Did Actionglow get a deal on Shark Tank?

Yes, Actionglow got a deal with Robert for $200,000 for 30% equity.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Robert Herjavac	$200,000 for 30% equity.	#1: $200,000 for 20% equity. #2: $200,000 for 25% equity.	Yes
Lori Greiner	Out	N/A	No
Kevin O’Leary	Out	N/A	No
Barbara Corcoran	Out	N/A	No
Mark Cuban	Out	N/A	No

Founders & their Backstory

Dakota and Garret Porter are brothers and entrepreneurs of Actionglow. They have loved to play skateboard since childhood, so they designed their product. This way, it was more fun and better styled. 

Initial Pitch

Dakota and Garret introduced themselves. They demand $200,000 for 15%equtiy of their company, Actionglow. They explained how skateboards are their childhood friends. They have spent the majority of their childhood playing on slops. But at night it’s so boring to play in plain lights. So they created Actionglow.

Actionglow is a sports equipment company that enlightens sports gear with customized LED lights. Professionals and action sports enthusiasts upgrade their gears with LED lights. Currently, they are working on 8 different applications, including surfboards. Actionglow brands the gear and is easy to install. They quoted that the product shines brighter than Mr Wonderful’s head. 

They then shared their passion and love for Shark Tank. They have been following a video since 2012. Sharks loved the video and appreciated their love for the show. Barbara inquired how they have their business. Dakota replied that they started their business in 2012. Garret continued as they got their full utility patent in 2016. Actionglow LED light strips were given to Sharks to inspect the product.

Queries about the Product

Kevin inquired if there was only one color or more. Dakota then mentioned that he developed the Actionglow 2 which can have multicolors. He then inquired about the cost of turning LED lights to multicolor. Garret replied that the current cost of the product ranges from $49 for skateboards to $124 for bigger boards such as surfboards. It will be increased slightly. 

Robert inquired about the cost of making it. Garret replied that it cost them $15 to $30 to manufacture them. Mark questions them about the sales. Garret replied that the lifetime sales are $130,000 and half of it was earned in the last two years when both graduated from college. Barbara increased their sales in the last two years. Garret replied that their sales in 2021 were $32,000 and in the current year they have hit $22,000. 

Robert inquired how they sell it. Dakota mentioned that they have done no marketing and the sales are just word of mouth. Sharks impressed. Lori and Barbara questioned why they did not use social media. Dakota mentioned that they have social media accounts. Mark inquired if they were just using social media to get orders.

Garret mentioned that personally do the work themselves. They assemble, pack, and ship back the upgraded product. So if a video got viral they wouldn’t be able to keep up the orders. Barbara was surprised to see that they didn’t share the product on TikTok for fear of it getting viral. Kevin then shared this experience of a similar product. He mentioned as the product got popular, more knockoffs were found. 

Shark’s Responses and Final Deal

Kevin was the first Shark to step out as he already had a bad experience before and did not want to take legal action against knockoffs. Lori loved the product but she thinks the business is still on a small scale. So she stepped out. Mark appraised their passion. Moreover, he thinks they don’t need help and this field needs to be fit for his investment. So he stepped out.

Barbara was disappointed with sales as they have 10 years of business journey. She finds it very odd that entrepreneurs didn’t go with social media for their marketing. Garret mentioned that they are undercapitalized but Barbara dont agree with it. So she stepped out. Robert remembered his old days in the business. 

Dakota mentioned that they estimate to get $430.000 with Actionglow 2 in its first year. Robert inquired how he believed that they could sell such several products. Robert advised them to be more disciplined as they are very energized. He wanted to make a deal with more equity. He proposed $200,000 for 30% equity. 

Dakota counter-offered with $200,000 for 20% equity. Robert immediately rejected it. Garret again counter-offered with 25%. He rejected the offer again. Lori advised them to accept the deal as they have worked on it for 10 years. Garrett pushed a skateboard towards Rober in acceptance. Robert loved it and asked if he could have the skateboard. The boys agreed and left the stage. 

What Went Wrong with Actionglow on Shark Tank

The pitch was decent and fun. The sales were good. However, the Sharks were not interested as they found the field uninterested or they considered the entrepreneurs enough for it. So they stepped out one after the other. While Robert loved the idea and offered a deal. He proposed $200,000 for 30% equity. After declining two counter offers, entrepreneurs accepted the deal and got it done. 

Product Availability

Actionglow is a company that adds glow to your sports gear. They add LED lights to your sports equipment and gear. They have different collections for snow, water, and land sports gear. You can choose from the collections and get your upgraded product. They have also launched their Actionglow 2 for more details.  

Conclusion

Entrepreneurs and brothers, Dakota and Garret Porter are on Shark Tank Season 14 with their company, Actionglow. They customize the sports gear and equipment with the desired color LED lights. They add LED lights to play colorful at night too. The cost of each upgrade varies. They demand for $200,000 for 15% equity.

Sharks loved the entrepreneurs and their passion for Shark Tank. They pitched well and sales were good. But Sharks went out for reasons such as no proprietary rights, lack of interest field, and such. But Robert loved the business and placed an order. They demanded for $200,000 for 30% equity. They counter-offered twice with 15% and then 20%. Finally, they agreed to $200,000 for 30% equity. The deal was sealed.