Swapnil Bora and Corey Egan brought their Bluetooth-enabled light bulbs to Shark Tank. Their idea was unique. The bulbs could change color and brightness. They could also be controlled by an app. This technology was new and exciting. The price of the bulbs was high. They asked for $350,000 in exchange for 15% of their company.
The entrepreneurs were looking for a way to grow their businesses. The app-controlled light bulbs had the potential to change how people lit their homes. Will the entrepreneur get a deal on Shark Tank? Check out the Packback update!
iLumi (MeshTek) Net Worth Shark Tank Update 2025
Corey Egan and Swapnil Bora went on Shark Tank asking for $350,000 for 15% of their company. This meant they thought their business was worth $2,333,333. They made a deal with Mark Cuban for $350,000 for 25%, lowering the valuation to $1,400,000. The episode was aired on March 21, 2014. The company later rebranded as MeshTek and continues to develop smart lighting and IoT technology. Using the viral/heavy traction method, the current net worth of MeshTek is estimated to be around $15–20 million in 2025.
After appearing on Shark Tank the company went through some changes. They rebranded in 2019 and became MeshTek. The company found new ways to use Bluetooth technology. They started licensing their Bluetooth connectivity to other manufacturers. This helped the business grow. The company’s revenue reached $6 million.
Today MeshTek’s products are available on their website and Amazon. The company has expanded and continues to grow. They have found success since their appearance on Shark Tank.
Yes, iLumi got a deal on Shark Tank. They asked for $350,000 in exchange for 15% of their company. Robert Herjavec offered $350,000 for 35% of the business. But the entrepreneurs asked for other offers. Mark Cuban then offered $350,000 for 25%. After some back and forth, Corey and Swapnil accepted Mark’s offer. They agreed to give him 25% of the company in exchange for the $350,000 investment.
| Shark(s) Name | Offer & Demand | Counter Offer | Accepted? |
| Lori Greiner | Out | N/A | N/A |
| Robert Herjavec | $350,000 for 35% equity | N/A | N/A |
| Kevin O’Leary | Out | N/A | N/A |
| Barbara Corcoran | Out | N/A | N/A |
| Mark Cuban | $350,000 for 25% equity | N/A | Yes |
iLumi (MeshTek) Shark Tank pitch
Swapnil Bora and Corey Egan shared a strong enthusiasm for technology. They identified an opportunity in the market for intelligent lighting. The concept for iLumi was inspired by their fascination with Bluetooth technology. They aimed to develop something innovative and beneficial. They encountered difficulties in the beginning. A major challenge was ensuring the affordability of the bulbs.
The technology was innovative and costly. They had to discover a method to lower the expenses. They put in great effort to enhance their product. The bulbs required time to develop. However, they continued to advance. They realized the product had the potential to transform how individuals illuminated their residences.
Corey and Swapnil walked into the Shark Tank with their Bluetooth-connected light bulbs. They presented the product and described its functionality. The bulbs could be managed through a smartphone application. The application enabled users to adjust the light’s color and brightness. The bulbs could also be programmed. They could be programmed to switch on or off at designated times.
The entrepreneurs requested $350,000 in return for 15% ownership of the company. They clarified that the bulbs were in the process of obtaining a patent. The price of the bulbs was steep at $289 for a set of three. However, they highlighted that the bulbs might endure for as long as 20 years. This resulted in a more sensible price over time. They believed that their product could thrive in the marketplace.
The Sharks posed numerous questions to the entrepreneurs. They were curious to learn additional details about the product. They inquired about the functioning of the bulbs and the intended audience. Barbara Corcoran inquired whether individuals would genuinely desire to manage their lighting using a smartphone. She was not persuaded that there was sufficient demand for the product.
Lori Greiner also expressed worries regarding the competition within the smart bulb industry. She believed there were excessively similar products. Robert Herjavec inquired about the product’s possibilities in premium lighting. He believed it would perform well in that market. However, he was uncertain regarding the product’s general attractiveness. Kevin O’Leary inquired about the security of the company’s intellectual property.
He was interested in finding out if they possessed any patents. The entrepreneurs stated that their product was currently undergoing the patenting process. The Sharks were intrigued by the possibilities of the venture. They were interested in whether the entrepreneurs could expand the product and compete effectively in the market.
The Sharks responded after listening to the pitch. Both Barbara Corcoran and Lori Greiner were eliminated. They didn’t recognize sufficient potential in the product. Robert Herjavec proposed $350,000 in exchange for a 35% stake in the business. This exceeded what the entrepreneurs had requested. However, they were interested in listening to additional proposals. Mark Cuban subsequently made an offer of $350,000 for a 25% stake in the business.
Corey and Swapnil sought other proposals but Mark promptly retracted his offer. Corey persuaded Mark to offer them another opportunity. Mark consented to reduce his equity proposal to 25%. Kevin O’Leary additionally presented an offer. He proposed $350,000 on the condition that he could license the product to a large manufacturer. He desired 15% of the earnings. However, the entrepreneurs rejected Kevin’s proposal.
Following negotiations, they accepted Mark’s initial proposal of 25% equity in return for the $350,000 investment. This was the ultimate agreement.
What Went Wrong With Ilumi on Shark Tank?
Not every Shark was convinced by the product. Barbara Corcoran and Lori Greiner were both out. They did not think the product had enough demand or that it was different enough from other products on the market. They felt the competition was too high. Robert Herjavec also had concerns.
He thought the product’s market was too limited. He did not see the bulbs doing well outside of high-end lighting. Despite these concerns, Corey and Swapnil kept pushing. They convinced Mark Cuban to invest in the business. Without Mark’s offer, the entrepreneurs may not have been able to grow their businesses.
Product Availability
The iLumi bulbs were a unique product. They allowed users to control their lights using a smartphone app. The bulbs could change color and brightness. They were also programmable to turn on and off at specific times. The bulbs were sold in packs of three for $289. After appearing on Shark Tank the company rebranded and became MeshTek. The company continued to develop its Bluetooth technology.
Today MeshTek’s products are available on their website and Amazon. The company offers a range of smart lighting solutions. The price of the products may vary depending on the model and features. MeshTek continues to grow and innovate in the smart lighting space.
Conclusion
Swapnil Bora and Corey Egan had a great idea when they pitched iLumi on Shark Tank. Despite some early doubts from the Sharks, they secured a deal with Mark Cuban. The company went on to rebrand as MeshTek and found success in the smart lighting market. Today MeshTek continues to innovate and grow. The company has an estimated revenue of $6 million. Their products are available online and on Amazon.
Hey there, I’m Fatima Muhammad, an International Relations student, with a focus on the strategic dynamics of global relations, One of my favorite shows is Shark Tank. I love it because it showcases the creativity, determination, and strategic thinking of entrepreneurs, which I find inspiring. The show also teaches valuable lessons about innovation, business dynamics, and the importance of perseverance in the face of challenges. Read more About me.
