Lumio

Lumio’s creations are recognized for their quality and design, having won several prestigious awards. Their products are not just functional; they aim to inspire and delight, making them a blend of art and practicality for better living.

Lumio at Shark Tank:

At Shark Tank, Max Gunawan sought a $250,000 investment for an 8% equity stake, implying a valuation of $3,125,000. The deal that was finalized saw the entrepreneur receiving a larger investment of $350,000 for a 10% equity stake, thereby adjusting the company’s implied valuation to $3,500,000.

This negotiation highlights the investors’ confidence in the business’s potential, resulting in a valuation increase and a larger investment to fuel the company’s growth.

Lumio after Shark Tank:

Following Lumio’s appearance on Shark Tank, the company experienced significant changes and growth. After Max Gunawan showcased the Lumio, a novel, bright lamp that folds like a book, on Shark Tank, it garnered much interest from the sharks and led to a bidding war.

By 2023, Lumio projected annual sales of $5 million​. Teno, a beautifully crafted bowl sculpture made from natural sand, won the 2022 Chicago Athenaeum Good Design Award.