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Brake Free Shark Tank Update

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Brake Free is a smart helmet brake light for all motorcycle enthusiasts. Brake Free is an extremely unique product because lights can be attached to the helmet. The product contains a series of LED lights that light brighter when the rider decelerates the bike or hits the brakes.

The brake lights on a motorcycle are very small and low and hence, an issue arises when riding a motorcycle at night in a remote area. The lights fit on a helmet in such a way that they come at the eye level of other riders and drivers on the road. Brake Free has patented brake detection algorithms with pyrometers and accelerometers, making Brake Free lights wireless and smart.

Brake Free at a Glance:-

IdeaBrake free:- Smart automated Helmet break device.
FoundersHenry Li and Alex Arkhangelskiy
Asked For$200,000 For 10% equity
Accepted Deal$200,000 For 20% equity
SharksMark Cuban and Robert Herjavec
Business statusIn Business
Episode No.Season 12, Episode 8

Index:

Who are the founders of Brake free?

 Henry Li and Alex Arkhangelskiy are the founders of Brake Free. Henry Li is a motorcycle enthusiast and loves to ride. He wanted to create a hassle-free and smart system for all other riders like himself so that they could ride without any worries and with complete safety at night as well. He created a team and presented the idea, which led to the creation of the prototype in the year 2014.

The founders organized an IndieGoGo campaign and successfully raised $259,797 in April 2017. The lack of delay in manufacturing led to delays in shipping and some pre-orders were delivered in spring 2020. They have improved very much since then. Their website offers Brake Free lights for $169.99 and also provides several accident protection programs.

Did Brake Free get a deal on the Shark Tank?

Alex and Henry came on the show in the season, episode seeking expertise in sharks and quality investment in exchange for equity. Brake Free asked for an investment of $200,000 for an exchange of 10% equity. Alex and Henry demonstrated and explained their product and handed a few samples to the sharks. They needed this investment in scaling up the things in their business. They shared their Indigo sales and expenses.

Barbara Corcoran was the first shark to speak as she had been through a tragic incident. Barbara shared that she would be grabbing that as her brother got disabled after getting hit by a truck when he was on his bike. Barbara Corcoran still went out as she didn’t feel much confidence that they would even be able to sell it on the market or not. Lori Greiner loved the business and concept but came up by saying that she never invests in those businesses when there is a chance of potential liability. Robert Herjavec gave an offer of $200, 000 in exchange for a 20% equity.

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Alex and Henry were glad to hear the offer but they asked Mark about his opinion. Robert Herjavec seemed a bit pissed. They asked Robert and Mark if they could come together with an offer and the sharks agreed. Mark and Robert gave the same offer of $200,000 in exchange for a 20% equity and $100,000 for 10% equity each. Alex and Henry accepted the deal and took their checks from the sharks.

What happened to Brake Free after the Shark Tank show?

After the show, it was identified that the deal made on the show was never closed. On the show, a deal was made between Mark and Robert with Brake free. After the show, Founders realized that they didn’t need a treatment tent as they had sold 7000 units of Brake free in just six months after the show aired and earned $1.1 million. 

During the pitch, they came up with a valuation of $2,000,000. Mark and Robert loved the idea of Brake free and offered a deal at a valuation of $1,000,000. After the show, Break Free broke all the hindrance factors that made it a great successful business. Break Free is available for $169.00 on their website. Break Free costs $43 to manufacture and is sold for $169 on the market through various platforms.

Break Free is currently selling it in the USA but has a vision of becoming a worldwide brand. As of 2022, they are still working and had achieved their forecasted sales of $3 million, which was targeted to achieve by 2021 end.

Competitors of Brake Free are:-

There are no identical competitors found in the market. Brake-free is a unique product that improves visibility.

What is the net worth of Brake Free?

The valuation during the pitch was around $2,00the 0,000.break-firebreak valuation was brought down to $1,000,000 by Mark and Robert but later the deal was not made. The estimated net worth of Brake free is $1.5 million. 

Is Brake Free still in business?

Brake Free is still in business and doing great in the market. Brake Free has the vision to go worldwide and they have reached their target of $ 3 million by 2022. As of 2022, Brake Free is available on their websites and various other platforms to purchase.

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FAQs:

What is Brake Free?

Brake Free is a smart helmet brake light for all motorcycle enthusiasts. Brake Free is an extremely unique product because lights can be attached to the helmet. The product contains a series of LED lights that light brighter when the rider decelerates the bike or hits the brakes.

Who founded Brake Free?

Henry Li and Alex Arkhangelskiy are the founders of Brake Free. Henry Li is a motorcycle enthusiast and loves to ride. He wanted to create a hassle-free and smart system for all other riders like himself so that they could ride without any worries and with complete safety at night as well.

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