The fifth season of ABC's "Shark Tank" was particularly long — 29 episodes deep. Episode 25 premiered on April 18, 2014, to 6.77 million viewers, according to ratings measured by Nielsen. The first of the week's four pitches was for Ilumi, a smart lightbulb company. Watching the segment is an exercise in how much has changed over a decade, if just how much the price of smart lightbulbs has dropped since the episode was shot. Ilumi's bulbs were close to $100 each, though the company was positioned more as a maker of lighting systems than a singular bulb company, aiming for the high-end market. Ultimately, the ilumi founders would make a deal with Mark Cuban after fielding offers from multiple sharks. This is a case where loyal viewers may be aware that the deal formally closed, as it was the subject of a "Shark Tank Update" segment two seasons later. However, there have been some twists and turns since then. The company still exists, but one of the two co-founders left. Both the name and the mission have changed. By all appearances, the Ilumi name looks like it's on life support, but the rebranded company, Meshtek, seems like it's still going strong after a pivot to specialized Bluetooth technology and other internet-of-things device manufacturers. Swapnil Bora and Corey Egan entered the tank seeking $250,000 for 15% of ilumi, their Bluetooth-connected smart lightbulb business. They demonstrated the smart lightbulb features that we have all become familiar with, from color options to custom routines, before describing how they met while pursuing their MBAs. During that time, they started working on ilumi, and, in the process, won the University of Texas at Dallas's Business Idea Competition, netting a $5,000 prize that they invested back into their business. After explaining that they hadn't hit the market yet, the price point of the bulbs was revealed: $289 for a three-pack of bulbs, with Bora claiming that the bulbs each last up to 20 years and Egan saying that they're aiming for more of a high-end market where the price wasn't an issue and their product was viewed more as a lighting system than a brand of lightbulbs. Barbara Corcoran opted out first, thinking people would not want to control their lights with smartphones or tablets and that the price was too high. Lori Greiner followed, feeling that there were too many competitors to invest without finalized patents. Robert Herjavec, though, offered $350,000 for 35 percent, while Mark Cuban undercut him at 25 percent, and Kevin O'Leary went for 15 percent of licensing deals. Cuban briefly pulled out when Egan wanted to hear the other Sharks' offers, but after Egan asked for a "24 second shot clock" reprieve, they made a deal. Usually, with Mark Cuban deals, the best source to use to determine if the deal closed after the post-shooting due diligence process is the listing of his "Shark Tank" investments on his official website , but Ilumi isn't listed on that page. However, we know that the deal closed because ilumi got an official Shark Tank Update segment during season seven in the episode that opened with the pitch for SmartPlate . In that segment, Cuban joined Swapnil Bora and Corey Egan at the January 2016 Consumer Electronics Show in Las Vegas , where they explained that since the production of their "Shark Tank" episode, ilumi had gone from pre-revenue to $2 million in sales with a pretty extensive network of retail partners. "This isn't a lightbulb company," explained Cuban during the recap segment. "This is a Bluetooth mesh networking company that will be able to control any type of device without having to use the internet." As 2016 rolled on, ilumi seemed intent on following through on what Cuban said in their update, focusing in press releases on their MeshTek branding. Eventually, in 2019, the company was renamed MeshTek Labs, marking its move into the larger "internet of things" market while leveraging its expertise in Bluetooth mesh networking. It's under that name that it's on Cuban's investment list, solving that mystery. When Bora was named Meshtek CEO in 2019, Cuban even lent a quote to the press release, saying MeshTek would "revolutionize how devices are controlled with edge computing and how connectivity will impact daily business activities." MeshTek is still alive and well as a Bluetooth mesh networking company specializing in "internet of things" devices, but the ilumi brand looks like it's more or less dead. As of this writing, there is nothing currently available to order from the ilumi website ; though the website still touts that ilumi products are now available in Best Buy, there are no relevant hits for a search for ilumi on BestBuy.com . Ilumi's official blog has also not been updated since September 2017 despite being updated on a regular basis up to that point. You can still get an ilumi lightbulb at Amazon for $49.99 , but that appears to be long-unsold stock and user reviews are mixed. On the other hand, MeshTek Labs appears to be doing fine. The most recent MeshTek press release in the Gale General OneFile news database (previously InfoTrac) is from November 2023 , and the official company blog is still up-to-date, albeit with less frequent posts than the ilumi blog had in its heyday. Going by the website and most recent press releases, it looks like the company turned into exactly what Mark Cuban predicted, with Meshtek now collaborating with companies that license its Bluetooth mesh technology. As far as the ilumi/MeshTek founders go, their LinkedIn pages indicate that one has left the company. Swapnil Bora is still the CEO of MeshTek, but he assumed that role because cofounder Corey Egan left that post in June 2018, eventually joining Meta in May 2020. Egan's still listed as a co-founder and a member of the board of directors, but he's exited entrepreneurship, working for Meta as a product manager. So far as Meshtek is concerned, if the company blog is any indication, then the company is continuing to make deals with other companies to push Bluetooth mesh networking forward for internet-of-things devices as an alternative to Wi-Fi. The most recent MeshTek press release, from November 2023 , dovetails with this, announcing a partnership with decorative lighting company Minleon USA to bring MeshTek's technology to Christmas lights and the like. "MeshTek's and Minleon's collaboration is leading to a rapid increase of transformative lighting installations that were once cost-prohibitive and complex," said Mark Cuban in the release. " The ability to control and manage hundreds and thousands of devices within millions of sqft area using Bluetooth is a milestone unsurpassed in an everchanging Technological World. The patented, long-range Bluetooth mesh is the brilliance behind the solution and the future of outdoor device connectivity."Smith scores 23 in Furman's 69-63 win against Princeton
Keep an Eye on Your Bags with Apple AirTags, Still 29% Off During the HolidaysShares of Invesco Galaxy Bitcoin ETF ( NYSEARCA:BTCO – Get Free Report ) gapped down prior to trading on Thursday . The stock had previously closed at $98.57, but opened at $95.59. Invesco Galaxy Bitcoin ETF shares last traded at $95.09, with a volume of 24,214 shares trading hands. Invesco Galaxy Bitcoin ETF Price Performance The business’s 50-day moving average price is $88.45 and its 200 day moving average price is $71.04. Institutional Investors Weigh In On Invesco Galaxy Bitcoin ETF Several hedge funds have recently bought and sold shares of BTCO. Headlands Technologies LLC acquired a new stake in shares of Invesco Galaxy Bitcoin ETF in the second quarter valued at approximately $64,000. Fermata Advisors LLC bought a new stake in Invesco Galaxy Bitcoin ETF in the 3rd quarter valued at $238,000. Fortis Group Advisors LLC acquired a new stake in Invesco Galaxy Bitcoin ETF during the 3rd quarter valued at $549,000. Gilbert & Cook Inc. boosted its position in Invesco Galaxy Bitcoin ETF by 124.4% during the third quarter. Gilbert & Cook Inc. now owns 8,946 shares of the company’s stock worth $568,000 after purchasing an additional 4,960 shares during the period. Finally, Sea Otter Advisors LLC acquired a new position in shares of Invesco Galaxy Bitcoin ETF in the second quarter valued at $729,000. About Invesco Galaxy Bitcoin ETF The Invesco Galaxy Bitcoin ETF (BTCO) is an exchange-traded fund that mostly invests in long btc, short usd currency. The fund is a passively managed fund that seeks to track the spot price of Bitcoin. BTCO was launched on Jan 11, 2024 and is issued by Invesco. Featured Articles Receive News & Ratings for Invesco Galaxy Bitcoin ETF Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco Galaxy Bitcoin ETF and related companies with MarketBeat.com's FREE daily email newsletter .
MADRID (AP) — Kylian Mbappé admitted he is going through a difficult moment as he missed another penalty kick and Real Madrid lost ground to Barcelona in the Spanish league after a 2-1 loss at Athletic Bilbao on Wednesday. Mbappé had his penalty saved by Athletic goalkeeper Julen Agirrezabala in the 68th minute, and later Federico Valverde gifted a late goal by losing possession on defense to allow an easy winner by Gorka Guruzeta in the 80th. “Bad result,” Mbappé posted on Instagram. “A big mistake in a match where every detail counts. I take full responsibility for it. A difficult moment but it's the best time to change this situation and show who I am.” Mbappé sent the penalty shot to his right and Agirrezabala dived that way to make the stop. “We knew that he is a good penalty taker,” Agirrezabala said. “He missed the last one and I believed that he was going to choose the same side and luckily that’s what happened.” Mbappé, who had a goal disallowed for offside in the 13th, had also missed a penalty in Madrid’s 2-0 loss at Liverpool in the Champions League last week. He didn’t take the one for the club in a Spanish league match on Sunday, but he scored in the 2-0 win over Getafe to ease some of the pressure on him and the club. But it was another lackluster outing for the France star, who continues to struggle in his first season since finally joining the Spanish powerhouse. “I won’t evaluate the performance of a player because of a missed penalty. Obviously he is sad and disappointed, but you have to move on,” Madrid coach Carlo Ancelotti said about Mbappé. “He is not at his best level, but you have to give him time to adapt. You have to give him time to be able to do better.” Ancelotti also downplayed the bad play by Valverde, saying that mistakes can happen to anyone. Valverde had control of the ball but gave it away while trying to get past a couple of Athletic players instead of passing it to a teammate, leaving Guruzeta with an easy run into the area for his goal. Álex Berenguer had put the hosts ahead in the 53td and Jude Bellingham equalized for Madrid in the 78th. The defeat left Madrid four points behind Barcelona, which on Tuesday ended a three-match winless streak in the league with a 5-1 rout at Mallorca. Madrid, which has a game in hand, had won three consecutive league games since a 4-0 loss at home in the “clasico” against Barcelona. Madrid has lost five of its last 11 matches in all competitions. Athletic moved to fourth place with the victory, its fourth consecutive across all competitions. Both matches on Tuesday and Wednesday were moved forward in the schedule because the clubs will be playing in the Spanish Super Cup in January. In the Copa del Rey, first-division clubs Rayo Vallecano, Valencia and Real Betis all advanced over lower-division teams in the second round, but Villarreal lost 1-0 to fourth-division club Pontevedra and Girona fell on penalties to fourth-tier team Logrones. AP soccer: https://apnews.com/hub/soccer