Zomm manufactures special keychains that alert people when they by chance forget their phone, it vibrates and gives an indication to take the phone, the vibration goes louder and louder as the step increases and it can be turned off by pressing the middle button available in the keychain.
In season 6 and episode 28, Henry Penix came on the show with the idea of Zomm keychain to find an investor to expand his business. This keychain is kind of a way of using phone features. As it tracks the device, you can set the contact number and can give a call in an emergency.
Henry explained it in the show by calling his wife. It also monitors heart rate, along with other health metrics. Zomm founder came to catch the Shark from the tank but unfortunately, he didn’t get any deal.
Zomm at a glance:
|Wireless keychain device For mobiles
|$2,000,000 For 10%
|Out of Business
Who is the founder of Zomm?
Despite the fact that Henry Penix appears to be the sole developer of Zomm, Laurie (his wife) was also involved in the company’s founding. Penix has a lot of business experience. They established a thriving preschool named Koala Care Preschool before starting Zomm.
Henry Penix is currently the CEO of Soak, a natural, non-invasive system that uses digital frequencies and daily meditations to deliver positive outcomes and solutions to mental health and wellbeing issues.
How was the Zomm shark tank pitch?
The pitch of Zomm on the Shark Tank platform was for $ 2 million for 10% equity. He gave some practical examples on the show to explain his product. After knowing about the product, the Sharks had many questions in their minds and they countered that on Henry one by one.
Lori, Robert, and Daymond were confused that a lot of money had already been invested in the company by Henry and it had a 17% share-taking partner. So, why does he need more investment to which Lori and Daymond felt something was missing and they were out.
Mark and Robert were not impressed when they came to know that Zomm holds $2million in inventory, to which Mark replied that maybe sales were not so strong. Mark and Robert were also out of the game as Henry’s dream was quite unrealistic to them. Henry didn’t find any investment in Shark Tank.
What happened to Zomm after Shark Tank?
After appearing on the show, traffic on its website increased and generated some amount of revenue for the company. Henry kept expanding his business by adding some more features to it.
Zomm “Wireless Leash,” is still available online, at Amazon, as mentioned above. Standard Zomm Wireless Leash retails in three different colors black, white, and pink for $49.95. Zomm Wireless Leash Plus is sold for $79.95. The Zomm Wireless Leash Plus has an updated feature that enables you to answer incoming calls while driving.
Henry Penix is currently working as an employee in the real estate industry. As per Tulsa World, Penix staged an open house for Oak Leaf Estates in July 2017. Oak Leaf Estates is a neighborhood in South Tulsa. Henry has invested a huge amount in his business. The unique features of making calls, vibration indicators, and other features attract customers. Zomm sells its keychain on Amazon and some other online platforms.
Sales in 2011 were $5 million, while sales in 2012 were $7.2 million, with a net profit of $2 million. Zomm was valued by the sharks at $20 million. Currently, Zomm is out of business.
What is the worth of Zomm?
At the time of the shark tank appearance, Zomm was valued at around $20 million. But Zomm is not in business now.
Investors details of Zomm:
Henry Penix invested by himself in his business as he had come on the Shark Tank in search of investment but he was not successful in impressing the Sharks with his unique idea of Zomm. Zomm is currently out of business. In the total investment of $ 9 million, Henry has invested $ 4 million and another investor has invested $ 5 million for a 17% share but not much is known about him/her.
Is zomm still in business?
Zomm was looking for $ 2 million For 10% at a valuation of $20 million on the Shark Tank and currently, it is out of business.
- It monitors heart rate.
- We can make a call through it.
- It helps to track devices.
- Its founder has invested $9million and came on Shark Tank in search of more investment.
- It has a vibration feature that gives an indication to its user if you step out without your phone.
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What is Zomm?
Zomm manufactures special keychains which alert people when they by chance forget their phone.
Who founded Zomm?
Henry Penix came on the show with an idea of Zomm keychain to find an investor to expand his business.