Mark Cuban is about to lift the curtain on three new products from his Shark Tank portfolio.
At the CES 2016 convention in Las Vegas this week, three of Cuban's Shark Tank businesses are showing off their newest products for the first time. The products span the connected home, lighting, and health care sectors, and have investors in Virgin Group founder Richard Branson and four of the other Sharks.
Here are three of Cuban's companies hoping to make a splash at CES this year.
Connected-home and lighting-products company Ilumi is unveiling an outdoor version of its wireless smart light bulb. The product allows customers to change the color and brightness levels of the bulb from a mobile app. It's most innovative feature is Ilumi's proprietary waterproof Bluetooth technology, which lets users control more than 50 bulbs within a range of 150 feet, regardless of weather conditions outside. The product hits shelves in March 2016, and will retail for $69.99.
Ilumi's smart bulbs last up to 20 years and are five times more energy efficient than regular bulbs, according to the company. Ilumi was founded by Corey Egan and Swapnil Bora in 2011 while the pair were pursuing MBAs from the University of Texas at Dallas. Cuban invested $350,000 for a 25 percent stake in 2014.
Smartphone breath-analysis company Breathometer launched in 2012 with its flagship product, Breeze, which measures the alcohol content in your breath, and then introduced oral health tracking product Mint this year. At CES, founder Charles Michael Yim is unveiling a new device focused on dietary weight loss. The product analyzes breath to measure your metabolic fat-burning rate, and then recommends what to eat and when in order to reach specific weight-loss goals. It hits shelves in the fourth quarter of 2016, and will likely cost $149.99.
What's innovative about the device? Yim says it will not only replace urine strips, the prevailing method for measuring how much fat a person is burning, but will also allow for much more accurate readings. In addition to Cuban, who invested $500,000 for a 15 percent stake, other investors in Breathometer include Virgin Group founder Richard Branson and Sharks Lori Greiner, Robert Herjavec, Daymond John, and Kevin O'Leary.
Former architecture graduate students Anna Stork and Andrea Sreshta founded solar-powered inflatable-light company LuminAID in 2011 after being asked to create a product to assist post-earthquake relief efforts in Haiti. The device diffuses light like a lantern, but weighs only 2.9 ounces and folds into a compact 5 by 3 inches. First responders use the product as a tool in areas where there is no electricity.
At CES, the founders will unveil a 2.0 version of their flagship product, with twice the wattage of their original device, an additional flashing setting for emergencies, and 30 hours of light on a full charge. The product is available for purchase through their website now and costs $24.95. On Shark Tank, Stork and Sreshta attracted offers from all five Sharks, but chose Cuban to be the company's first investor. Cuban took a 15 percent equity stake in the business for $200,000.