Light Film (Power decal) Shark Tank Update

Sports Decals are great for our cars as we can express ourselves about the teams we like and it helps us to find others with common interests if they see it and like it, and so on.

But decals were not so visible at night, so two men came up with the idea of a decal that lights up at night and also shows impressive animations to go with the image. They brought their product, Light Film, to the shark tank to help them in their product distribution. Will the sharks light up at their pitch? let us find out.

Light Film at a glance.

Business ideaPeel-off light-up decals for car windows
FounderRolf Schwartz, George Podd
Asked for$100,000 for 5%
Accepted deal$100,000 for 70%
SharksDaymond John,
Business statusIn business
EpisodeSeason 1, Episode 15
WebsiteLight Film
Light Film/Power Decal at a glance

Index:

Founder Story:

One of the founders of Power Decal (formerly Light film) George Podd came up with the idea of a light and motion-sensitive decal when he was taking his son to the hockey ring. He saw that the car ahead of him had a decal on it and inside a child was watching cartoons as George saw the two images of the animation and decal line up in the window the idea came to him.

He showed his idea to his friend and business partner, Rolf Schwartz, who has experience as a financial manager and they both decided to create their company around these unique electric decals. They now come to the shark tank to find a shark who will help them secure distribution and take their company further.

Did Light Film get a deal on Shark Tank?

George Podd and Rolf Shwartz introduce themselves to the sharks, asking $100,000 for 5% in their company, Light Fil,m and start explaining the product to them while Rolf also demonstrates as to how the item is used. The sharks seem interested and Barbara asks if the product has a wire, to which they say that the further versions of the item will feature batteries or Solar packs as a power source. Kevin O’Leary asks if they have the patent and they reply by saying that their application is pending while also mentioning that the decals are made to order and that they are there for a distributor for their product.

Barbara then asks how they got the idea and George tells them about seeing a cartoon through the back window of a car through a decal which led to the idea of the light up decal, which he showed to his business partner Rolf Schwartz who loved the idea. Kevin thinks that the business can be big and asks about sales, to which the founders reply they have had none yet, after them putting $750k in the company for R&D, which the sharks don’t like. They say that it costs them around $10 to make and sell it at around $19.95 depending on the licensing.

Kevin Harrington then backs out because he thinks that his money will go into a “black hole” which won’t help anyone, and Barbara doesn’t like decals, so she is also out. Kevin O’Leary and Robert Herjavec like the product but back out as they think that they cannot solve the distribution problem. Daymond puts forward an offer where he only takes the battery version of the item and helps in manufacturing, distribution, and licensing for 75% of the company, which the founders are reluctant to go with.

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They then counter with 51% for $750k to get back the funds that they had invested earlier. Kevin calls Daymond a “vampire” as he thinks he is taking away the company and leaving the founders with too little. Robert then comes in with Daymond and puts it back at $100k for 70% but with 75c on every dollar earned to the founders to help get back their investment and the founders agree.

 What happened to Light Film after Shark Tank?

Partnering with Daymond and Robert was truly helpful to the company as they helped the company secure licensing deals with major sports leagues, teams, and also colleges, just as he had promised while also helping them with ideas for a variety of other themes including Military, medicinal and others so on for their decals.

The company has been rebranded as “Power Decal” from Light film as a marketing strategy and is present in many stores throughout the country. It has also been featured as one of the most successful companies to have appeared in the shark tank.

Product details:

  • The product is custom made or you can choose from a selection of themes for the decal
  • The product is around $19.95, reducing the cost for bulk buys.
  • You can contact them at, support@decalpowerpayments.com.
  • The company is based out of Chicago, Illinois.

Competitors of Light Film

Some competitors are

  • M power Decals
  • Finch Technologies
  • Juntrax solutions
  • Pocket Radar
  • Smart UV power supply

What is the net worth of Light Film?

The net worth of Power Decal featured as “Light film” had a net worth of around $2 million as per the founder, when it appeared in the shark tank. Although they had a valuation of around $1 million as per the sharks.

Is Power Decal still in business?

Yes, Power Decal is still in business while making around $ 1 million in annual revenue. We do not seem to know much regarding the future prospects of this company, but surely appreciate how they help people express themselves through their unique and impressive product.

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FAQs:

What is Light Film?

Light Film is a peel-off light-up decal for car windows.One of the founders of Power Decal (formerly Light film) George Podd came up with the idea of a light and motion-sensitive decal when he was taking his son.

Who founded Light Film?

One of the founders of Power Decal (formerly Light film) George Podd came up with the idea of a light and motion-sensitive decal when he was taking his son to the hockey ring. He saw that the car ahead of him had a decal on it and inside a child was watching cartoons as George saw the two images of the animation and decal line up in the window the idea came to him.

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