Any raver can attest to the fact that getting a light show at a concert is probably one of the coolest things ever, and the sharks on Sharktank seem to agree. Not only is gloving a mesmerizing art, it has turned out to make one of the biggest deals on Sharktank history thanks to an entrepreneur with a serious passion for gloving, Brian Lim. In May, Lim, went on Shark Tank to promote his brand EmazingLights
. EmazingLights is the #1 leader in gloving and light show products, grossing over 13 million dollars in just four years. If that wasn't enough, Lim is also the founder of iheartraves
, a website for all things rave, from pacifiers to fluffies.
Before EmazingLights, rave gloves were almost impossible to find. Lim's story begins when his girlfriend had him travel two hours to get a pair for $130 in 2010. He didn't understand why she wanted them so bad, but when he put them on and drew a crowd of mesmerized ravers, he instantly fell in love. Wanting to further pursue this art, he tried to find other gloves to buy, but there wasn't much of a market for them. Soon he made his own photo-type with led keychains and stretchy gloves. Essentially, Lim is the reason you can find dozens of glovers at any rave today.
"Gloving gave me a feeling I'd never had before, and I wanted to share that with the world."
Lim went into the tank asking for $650,000 in exchange for a 5% equity in his company. Even with his impressive margins and projections, the sharks didn't let him cash out that easy. "Just gloves?" shark Kevin O'Leary asked. The sharks were skeptical off the bat because they saw gloving as a fad that could never have a lasting value. But thanks to Brian Lim, gloving won't be going out of style. Lim started the International Gloving Championship, now qualifying gloving as a professional sport.
Lim's gloves have been featured on the Disney channel, America's Best Dance Crew and more. Once the sharks realized that gloving doesn't only appeal to the rave scene, they jumped on the idea. "Brian you are creating your own industry." said shark Robert Herjavec, then continuing to offer him 1 million dollars for a 5% stake.
Lim made it clear that it wasn't really about the money. He wanted to gain expertise and a great partnership with the sharks rather than a wad of cash. Every shark made him generous offers, but in the end Lim chose to work with Mark Cuban and Daymond John with an offer of $650,000 and a 5% stake, in addition to 20% on any licensing Daymond creates.
Thank you Brian Lim for further lighting up rave culture. Lim is inspiring proof that you can truly make money doing what you love.