Many car owners enjoy adding unique and eye-catching additional items to their cars to make them stand out, but this can be complicated to do. Individuals frequently utilize their cars as a means of expressing their uniqueness or showing support for the teams or issues they care about. But the majority of car decals are straightforward and don’t bring any variety or excitement.
Entrepreneurs Rolf Schwartz and George Podd developed Lightfilm as a solution to this issue. Lightfilm is an innovative invention that uses entertaining graphics to light up car windows. These Stickers add style to your car while also brightening it up and adding motion sensors. These lighting sensors know when to turn on by themselves.
The founders pitched their idea and asked for $100,000 for a 5% equity in their business. But the question is did any shark like the product and decide to invest or not? Let’s see what happens next.
Lightfilm Light Up Car Decal Net Worth 2024
Rolf Schwartz and George Podd asked for a $100k investment in exchange for 5% equity in their company. This meant they valued their company at $2 million. They made a deal with Daymond John and Robert Herjavec for $100k in exchange for 70% of their company, with unlimited financing for production and distribution. This new deal valued their company at $142,857. After the show aired, PowerDecal saw an increase in sales and market expansion. With an estimated 10% yearly growth rate (typical business growth), the current net worth of PowerDecal in 2024 is about $3 million.
Lightfilm Light Up Car Decal Shark Tank Update
PowerDecal is still going strong in 2024, offering a large number of light-up decals in a variety of patterns and styles. Power cal website is live in 2024 and the product continues to be offered in other online websites like Amazon. After some time, the company changed its name from Lightfilm to PowerDecal, which more accurately captures the special qualities and attractions of the product.
The collaboration between Daymond John and Robert Herjavec turned out to be a huge success. They worked together to license, produce, and distribute the product, all of which helped in the expansion of the business. PowerDecal gained popularity among automobile owners and a huge audience. The company was one of the most successful businesses to exit Shark Tank, with annual sales of over $1 million on average.
Yes, the company got the deal in Shark Tank with Daymond and Robert with $100,000 for 70% equity. Daymond John showed interest only in the battery-operated decals and the potential of licensing agreements for them. At first, he offered to give $100,000 for 75% equity and unlimited funding for production and distribution but Light Film did not accept this offer. After some negotiation, Daymond offered the final offer and Robert also joined him. So the company accepted the second deal.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Daymond John | $100,000 for 75% equity with unlimited financing for orders | $750,000 for 51% equity | No |
| Daymond and Robert | $100,000 for 70% equity | N/A | Yes |
| Kevin O’Leary | Out | N/A | N/A |
| Kevin Harrington | Out | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
Lightfilm Light Up Car Decal Shark Tank Pitch
Lightfilm was the invention of George Podd and Rolf Schwartz. Geoge explained that he got the idea when one day he was taking his son to play hockey. At that time he observed something fascinating. The logo of the hockey team was on the car and then at the same time, he saw a child sitting in the car and watching cartoons which he could see on the screen. It made him curious about what if we combined these two concepts. What if stickers and logos could display animations similar to the cartoons on that screen?
Stickers and logos would become far more lively and interesting as a result. George Podd and Rolf Schwart also saw an absence in the market for creative and entertaining automotive accessories. So they decided to make unique items that would enable customers to be aesthetically pleasing and easily customize their cars.
Their ambition to pair technology with traditional car stickers gave rise to the concept of light-up decals with motion sensors. However, there were difficulties in the process of creating the product. They encountered difficulties in coming up with a strong structure that customers could readily install and survive the outdoors. In addition, they contributed a huge amount of their own funds, including a sum of $750,000, to finance the creation of the decals and the filing of the patent.
In Shark Tank, Rolf and George presented Lightfilm’s light-up decal stickers for car windows. They explained how easy it was to apply the decals, no equipment was needed, and you just had to peel and stick. They also mentioned that although the decals they showed the Sharks were wired, they are working on a new wireless one that would run on solar energy and batteries.
This means that during the day the stickers will be charged by the sun and at night they will show lights and animations. As a result, the decals would become even more user-friendly. The business owners also mentioned that they had applied for a patent. But it was still pending. The founders asked for $100,000 for 5% equity in their business. To get funding from the Sharks, they positioned Lightfilm as an exciting new way to personalize cars and leave a lasting impact.
The Sharks had different queries and asked several questions concerning Lightfilm during the pitch.
Barbara Corcoran inquired about whether they provided customized decals, Rolf and George said that they are planning unique designs on custom in the future.
Robert Herjavec asked about sales, the business owners said that they had to wait for funding before they could begin making sales. Robert also asked if they have any licensing deals. George revealed that they have many chances working with Harley Davidson in the future who is a famous American motorcycle manufacturer.
Daymond and Barbara asked about the selling price and the cost of the products. According to George, the regular sticker costs$10 and the battery-operated decals will cost $5 or maybe less than it. It may retail for $19.99, depending on license, and $10 at wholesale.
Kevin O’Leary asked about the patent to which they responded that they have the patent.
Kevin Harrington decided not to invest in the business because he believed it would cost far more than he was willing to pay.
Kevin O’Leary liked the product but he made the decision to not invest because he believed the product required a strategic partner in addition to money so he thought that he was not the right person for this.
Robert Herjavec initially decided not to invest, agreeing with Kevin O’Leary but after some negotiation, he joined Daymond John’s offer of $100,000 for 70% equity with unlimited financing.
Barbara Corcoran declined to invest because she didn’t think she would be a good partner as she didn’t have much knowledge about the product or market.
Daymond John expressed interest in the battery-operated decals as well as the possibility of licensing agreements. At first, he offered to give $100,000 for 75% equity and unlimited funding for production and distribution but Light Film did not accept this offer. After some negotiation, He and Robert Herjavec eventually came up with a joint offer of $100,000 for 70% equity that was accepted after considerable negotiating.
Product Availability
Lightfilm has been renamed PowerDecal, and it now sells a range of light-up decals that are simple to apply to automobile windows. Their website PowerDecal is still live in 2024 and you can also buy these decals on online websites like Amazon. They are also widely available, as they may be obtained in a variety of stores. The decals are fairly priced to promote wider use and are available in a variety of designs to suit a wide range of tastes and preferences.
Conclusion
The experience Lightfilm had on Shark Tank was exciting, involving discussions and strategic choices. Daymond John and Robert Herjavec gave Rolf Schwartz and George Podd the support they needed, even though they gave the hype part of their business to sharks but in the end, this helped them restructure their company. The choice to work with the Sharks was a wise one, as they rebranded their business and renamed it to PowerDecal and the success that came in terms of sales and expansion. There will probably be more fascinating advancements as PowerDecal develops and grows.
Hey, I’m Amna Habib an undergraduate student of Bachelors in Business Administration. Shark Tank is one of my favorite TV shows of all time. The show provides a fascinating insight into the world of entrepreneurship by presenting creative solutions to common problems, which strongly connects to my academic interests. I’m interested in learning more about the strategic thinking and creativity that lead these companies as each pitch provides insightful information. I’ve found that watching Shark Tank has inspired my enthusiasm for business and entrepreneurship and has been a very enlightening and motivating experience. Apart from business and writing, I love food, shopping, and hanging out with friends and family. Read more About me.
