Poplight, a renter-friendly LED wall lighting founded by Caroline Matthes and Rose Fierman, aired on the 15th season of Shark Tank USA in 2024. The founders were seeking $150,000 for 8% equity for their business. However, they secured a deal with Kevin O’Leary, which was $150,000 for 8% equity, plus $2/unit royalty, until $500,000 was made back. Then, $1/unit royalty in perpetuity. In this article, we will explore Poplight’s net worth in 2024, its Shark Tank pitch summary and more.
Poplight Net Worth
As of 2024, Poplight’s net worth is estimated at $2 million, and its annual revenue was $5,000 in 2023.
| Net worth | $2 million *estimated |
| Annual Sales Revenue | $5000 (2023) |
| Profits | Not Available |
| Lifetime sales | Not Available |
| Employees | 2-10 employees |
Poplight Net Worth Timeline
| Net Worth 2024 | $2 million |
| Net Worth 2023 | $1.8 million |
| Net Worth 2022 | $1.5 million |
Shark Tank Poplight Update from Season 15
Poplight has quickly gained popularity on TikTok as a go-to choice for home lighting. This trendy wall light takes just 20 seconds to install, combining ease and style. Caroline Matthes and Rose Fierman, the brand’s founders, presented Poplight on Shark Tank during Season 15. There, they asked for $150,000 in exchange for 8% of their company, which set the business’s valuation at $1.875 million.
In the tank, Caroline Matthes and Rose Fierman said that lighting their room was a challenge. Also, they further noted that the process was complicated and that hiring an electrician was too expensive. They said this incident led them to notice a market gap and create an easy-to-install lighting solution for bedrooms.
There, they showed how their product worked. It’s a simple bedroom light with adhesive backing. Also, the light offers different brightness levels, charges via USB-C, and connects to a mobile app for more features.
Mark Cuban kicked off the conversation by asking what happens to the walls when you remove the base of the light. At that moment, Rose explained that taking it off doesn’t damage the wall. She further mentioned that the light turns on with a simple tap. However, they clarified that the product they were showing was just their first tooling prototype.
Lori Greiner praised the product for its clean and stylish design. Robert Herjavec then asked about the price and production cost. There, Caroline shared that they sell it for $95, with each unit costing $30, giving them a 68% profit margin.
Barbara Corcoran then asked about the battery life to evaluate its quality. Rose explained that it takes four hours to fully charge, and the battery lasts five to nine hours, depending on the brightness of the light and how often you use it.
Lori Greiner expressed concerns about whether the design had been copied or had any competition. Rose responded that they couldn’t find a similar product online, so they created Poplight. She added that the company had already filed three patents, one for design and two pending for technology patents.
Robert Herjavec then inquired about their sales numbers. There, Caroline proudly shared that Poplight generated over $178,000 in sales within just four weeks. The product launched at 6 AM, and they hit their sales target in just 20 minutes. She further mentioned that their inventory was gone in four months.
Although, they haven’t shipped any orders yet, including around $5,000 in recent sales from their new website. Among the sharks, Kevin O’Leary was the first to offer the deal, and it was $150,000 for 8% equity plus a $2 royalty per unit until he recoups $500,000. After that, the royalty would drop to $1 per unit, continuing indefinitely. Then, Barbara offered $150,000 without asking for any equity but wanted a $20 royalty per unit, which would last forever.
Robert Herjavec liked the product but believed they could succeed without him. He advised them to consider Kevin’s offer, and decided to not invest. Lori Greiner hesitated about the market potential for the product, so she dropped out. Mark Cuban also chose not to invest, feeling there were too many uncertainties about the product.
The founders then countered Barbara’s offer, asking for a $12 per unit royalty. Barbara then responded with an offer of $100,000 in cash, $50,000 as a credit line, and a $12 royalty. But, after hearing Babara’s offer, the founders countered Kevin’s offer, suggesting that he reduce his royalty target to $350,000 instead of $500,000, but Kevin refused. Ultimately, they accepted Kevin’s initial offer, valuing the company at $1.8 million.
| Company Name | Poplight |
| Founders | Caroline Matthes and Rose Fierman |
| Business | A renter-friendly, LED wall lighting that installs and removes without any tools |
| Episode | Season 15, Episode 11 |
| Asked Deal | $150,000 for 8% equity |
| Final Deal | $150,000 for 8% equity, plus $2/unit royalty until $500,000 is made back. Then $1/unit royalty in perpetuity |
| Shark | Kevin O’Leary |
| Business Status | In Business |
| Company Website | Visit Website |
| Headquarter | Denver, Colorado, USA |
Summary of the Sharks’ Deal List!
| Shark | Offer | Counteroffer |
| Kevin O’Leary | 01 – $150,000 for 8% equity, plus a $2 royalty per unit until he recoups $500,000. After that, the royalty would drop to $1 per unit, continuing indefinitely (Accepted Deal) | $150,000 for 8% equity, plus a $2 royalty per unit until he recoups $350,000. After that, the royalty would drop to $1 per unit, continuing indefinitely |
| Barbara Corcoran | 01 – $150,000 without asking for any equity but wanted a $20 royalty per unit, which would last forever 02 – $100,000 in cash and $50,000 in-line credit against a $12 royalty in perpetuity | $150,000 without asking for any equity but wanted a $12 royalty per unit, which would last forever |
| Mark Cuban | No | N/A |
| Lori Grinear | No | N/A |
| Robert Herjavec | No | N/A |
What Happened to Poplight after Shark Tank?
As of October 2024, the Poplight is still in business. Poplight has experienced significant growth since its appearance in season 15 of Shark Tank. The exposure from the show significantly increased its brand awareness and sales, proving how powerful the “Shark Tank effect” can be. Their partnership with Kevin O’Leary strengthened Poplight’s credibility, helping build consumer trust. As a result, the company has seen sales triple since the show aired.
With Kevin’s support, Poplight is growing and learning every day. The company is focusing on expanding its product range by offering more lighting color options. They are also working to make Poplight compatible with popular smart home systems like Google Home and Alexa, aiming to connect with other products easily. This innovation is especially helpful for renters, as the stick-on lights don’t require drilling, preventing any issues with landlords or losing security deposits.
Each Poplight unit costs $85, offering a simple and affordable lighting solution. Also, The company sells extra battery packs for $23 each and a USB-C charging cord for $4 on their website.
Poplight Founders
Caroline Matthes and Rose Fierman founded Poplight Wall Lighting in 2020. Before inventing this unique product, Rose had experience in sales and customer service. At the same time, Caroline has worked as a mentor in a youth program.
They began a new chapter by moving into their first shared home in Denver’s historic Santa Fe Arts District. The house, built in 1879, was full of character but needed modern updates. As they started renovating, they faced several problems. They knew upgrading the lighting was crucial in giving their home a fresh feel.
The existing options were costly and required professional contractors for installation, making it an expensive and complicated process. Looking for a more affordable and DIY-friendly solution, they searched the market but couldn’t find any alternatives that didn’t need hardwiring. Facing these financial and practical hurdles, the couple decided to take action and launched a Kickstarter campaign to fund a new, easier lighting option.
They launched it on Kickstarter for pre-orders, aiming to raise $9,100. In just 22 minutes, they hit their goal, and by the end of the campaign, they raised $162,498 from 1,481 backers. They used these funds to ramp up production, with pre-orders expected to ship in early 2024.
Poplight Achievements and Awards
| Year | Achievements and Awards |
| 2024 | The company was featured on Shark Tank season 15 and got the deal from Kevin O’Leary |
Conclusion
Shark Tank is a TV show showcasing different business ideas, helping them succeed. The show featured Poplight as one of the ventures. They made a deal with Kevin O’Leary, showing that success is possible with the right idea and execution. Now, we eagerly await to see how their success story unfolds in the future.
Before you leave, check out the other company updates in Season 15, Episode 11.
