Circadian Optics Owner's Backstory Moves The Sharks To Tears | Shark Tank US | Shark Tank Global

Summary

In this inspiring pitch, Amber Leung seeks $750,000 for 10% of her company, Circadian Optics, which creates stylish light therapy lamps that mimic sunlight. Highlighting the health impacts of insufficient natural light, Amber shares her personal journey from Malaysia to the U.S. and the motivation behind her product. With impressive sales figures and a projected revenue of $5.6 million, she captures the sharks' interest. Ultimately, Lori and Mark partner with Amber, recognizing her potential and the value she brings to the market, celebrating her success as a testament to the American dream.

Takeaways

• 😀 Amber Leung is seeking $750,000 for a 10% stake in her company, Circadian Optics, which produces light therapy lamps.
• 😀 The lamps are designed to mimic sunlight, addressing the negative effects of insufficient natural light on physical and mental health.
• 😀 Amber's personal experience with light deprivation while working in a corporate job inspired her to create a stylish and effective light therapy solution.
• 😀 Her lifetime sales amount to $7.4 million, with a projected revenue of $5.6 million for the current year and a profit margin of 70%.
• 😀 Amber's immigrant story highlights her determination, as her family sacrificed significantly to support her education in the U.S.
• 😀 She overcame a life-threatening illness early in her American journey, which shifted her perspective on life and ambition.
• 😀 Amber aims to partner with a Shark to help scale her business and expand into retail markets.
• 😀 The Sharks recognize her entrepreneurial spirit and the inspirational nature of her story, reflecting the American Dream.
• 😀 Lori and Mark collaborate on an offer of $750,000 for 20% equity, recognizing the potential to double sales quickly.
• 😀 Amber ultimately chooses to accept the offer from Lori and Mark, emphasizing her commitment to collaboration and growth.

Q & A

What is the main product offered by Circadian Optics?

Circadian Optics offers bright light therapy lamps that mimic the color and brightness of sunlight.

What inspired Amber Leung to create Circadian Optics?

Amber was inspired by her own experience with the lack of sunlight while working in a corporate job in Minnesota, which negatively impacted her health.

How much funding is Amber seeking from the sharks?

Amber is seeking $750,000 in exchange for 10% of her company.

What were Amber's lifetime sales figures for Circadian Optics?

Amber reported lifetime sales of $7.4 million.

What is the projected revenue for Circadian Optics in the current year?

Amber projected revenue of $5.6 million for the current year.

What significant health issue did Amber face after moving to America?

Amber was diagnosed with toxic shock syndrome shortly after arriving in America, with a 50% chance of survival.

What unique aspect does Amber believe her product has compared to other light therapy lamps?

Amber believes her lamps are stylish and effective, addressing a market gap for aesthetically pleasing light therapy options.

What are Amber's average online sales and margins?

Amber's average sale price is $57.99 with a margin of 70%.

Why does Amber want a strategic partner from the sharks?

Amber is looking for a strategic partner to help expand her company beyond online sales into retail.

What offers do the sharks present to Amber?

Lori and Mark initially offer $750,000 for 20% of the company, while Barbara and Kevin present the same offer but add an extra $50,000 for Amber's parents.