Zomm, a mobility and safety device company founded in 2009, appeared on season two of the popular show Shark Tank. After their appearance on Shark Tank, the company went through various transitions and changes that have been noted by industry observers.
This article will provide an overview of what happened to Zomm after its turn on Shark Tank, discussing how it has adapted over time and where it stands today. While the Sharks declined Zomm’s offer during their appearance on Shark Tank, they were still able to gain exposure from being part of the show which allowed them to continue with their business operations afterwards.
Despite this initial success, there have been several different factors that have shaped Zomms’s current standing in the market as well as other notable developments since appearing on Shark Tank. This article will explore those elements in detail and discuss how these events have impacted the trajectory of the company overall.
Zomm’s Turn On Shark Tank
Zomm, a company that produces products designed to help people stay safe and connected, appeared on Shark Tank in 2012. They presented their flagship product – a Bluetooth-enabled panic button – to the Sharks for an investment of $250,000 for a 10% stake in the company. Despite being impressed by the technology behind Zomm’s product, most of the Sharks believed that it was too risky of an investment due to its competitive landscape.
At the time, there were already several companies producing similar safety devices with some having more widespread recognition than Zomm itself. In addition, many thought that the device would appeal only to a limited market. As such, none of the Sharks made an offer for Zomm.
Despite not receiving any offers from Shark Tank, Zomm continued to operate as normal after their appearance and went on to become one of Amazon’s top selling items within 6 months following their original episode air date. The increased exposure propelled them into further success and they eventually sold over 2 million units worldwide by 2019.
Decline Of The Sharks’ Offer
When the Sharks expressed interest in investing, Zomm was faced with a difficult decision. They would need to accept certain investment conditions that included entering into a licensing agreement for the product and technology. As part of this agreement, they were required to surrender their patents and exclusive rights over the product design.
Furthermore, they had to agree to an equity split that heavily favored the Sharks. Having weighed up all options available, Zomm declined the offer presented by the panel of investors on Shark Tank. Although it was potentially lucrative opportunity, they felt that some of the terms proposed did not align with their original vision for the business and its long-term plans.
For instance, having already invested $9 million of their own capital into developing and marketing the product, giving away patent ownership may have limited future earning potentials or opportunities to license out these technologies at later date. Ultimately, despite missing out on outside funding from Shark Tank, Zomm continued independently producing and promoting its products across numerous channels such as retail stores and online outlets like Amazon.
The company has since gone onto sign agreements with major telecom companies such as Verizon Wireless and AT&T Mobility, providing access to many new customers around world who otherwise may never have encountered their products.
Zomm’s Continued Business Operations
After appearing on Shark Tank, Zomm underwent a period of rapid expansion and growth. The company leveraged the publicity gained from their appearance to develop branding strategies that were effective in driving sales across multiple countries and regions.
Their tactics included developing engaging campaigns for social media platforms such as Facebook, Instagram and Twitter. These efforts resulted in increased global visibility which allowed them to access new markets, increase product awareness and drive revenue significantly higher than before they appeared on Shark Tank.
One of Zomm’s most successful strategies was creating an ambassador program where customers could become representatives of their brand by sharing content about the product with their network of friends and family members. This tactic enabled Zomm to reach countless potential customers without having to invest heavily in traditional advertising methods like television commercials or print ads.
Additionally, it provided influencers with incentives for actively promoting the brand to new audiences. As a result of these innovative sales techniques, Zomm has seen consistent profitability since its launch in 2009. They have established themselves as a leader in mobile safety technology both domestically and abroad; garnering recognition from major publications including Forbes Magazine and Time Magazine as well as receiving numerous awards at international trade shows around the world.
In the wake of their departure from ‘Shark Tank’, Zomm had to undertake a major rebranding effort in order to sustain their success. This was largely due to customer feedback indicating that the brand lacked resonance and visibility with its target market.
Consequently, Zomm invested heavily in research and development to create new products and services that would better meet the needs of customers. The company’s first move was to restructure their business model in order to focus on creating value for customers rather than simply selling them products.
They also developed an innovative marketing strategy which included leveraging social media channels as well as traditional advertising methods such as radio, television, print and digital campaigns. Additionally, they undertook an aggressive outreach program which included speaking engagements at universities and industry conferences.
To further strengthen their brand presence, Zomm worked diligently to develop meaningful partnerships with other companies and organizations. These strategic alliances allowed them to tap into valuable resources such as new technologies, data insights or even distribution networks – all of which helped bolster their reputational standing within the marketplace.
Acquisition Of Zomm By Kastle Systems
After appearing on Shark Tank in 2011, Zomm experienced a period of rapid growth. Founded by inventor and entrepreneur Henry Penix, the company had developed a product that allowed users to perform remote monitoring and emergency response from their smartphones. The device was designed to be small enough for users to carry it with them at all times, connecting via Bluetooth or other wireless networks.
In 2013, Zomm announced its acquisition by Kastle Systems for an undisclosed sum. According to press releases issued by both companies, Kastle Systems would leverage Zomm’s technology and expertise to provide “leading-edge security solutions’.
After being acquired by Kastle Systems, the original product line continued under the new ownership but eventually ceased production as the focus shifted towards larger commercial contracts.
Zomm’s legacy lives on today through the various products they introduced while under the ownership of Kastle Systems. These include panic buttons located in public places such as schools and businesses which allow users to alert authorities in case of an emergency quickly and conveniently. Additionally, these technologies have been incorporated into many home alarm systems providing further protection against intruders and burglars alike.
Launch Of Zomm’s Mobile App
Following the appearance of Zomm on Shark Tank, the company released their first mobile application. The app was designed to be a convenient and effective solution for mobile security needs. It provided users with voice assistance that allowed them to access features such as automatic locking, secure passwords, and other functions related to phone safety and security.
In response to the success of their initial product launch, Zomm subsequently developed additional products including a Bluetooth Low Energy (BLE) locator device which enables people to find misplaced items quickly and easily. In addition, they have partnered up with several prominent companies across different industries ranging from travel to entertainment, further expanding their customer base while continuing to provide excellent services in terms of convenience and security.
Expansion Of Zomm’s Product Line
Since its appearance on Shark Tank, Zomm has experienced a great deal of success. The innovative design and products have been widely praised by consumers and the business continues to build and maintain strategic partnerships with many large companies. As a result, Zomm’s product line has expanded considerably in recent years.
A number of new products have been added to the Zomm catalog since their original launch:
- Wireless Leash Plus – a device that connects smartphones to other devices such as keys, phones, wallets, or pets through Bluetooth technology
- Wristband – an accessory designed for use with the Wireless Leash Plus device
- Lifestyle Connected Hub – a home security device that can be controlled remotely from any smartphone
These additions demonstrate how quickly the company has grown since its initial appearance on Shark Tank.
In addition to expanding their product line, they have also undertaken ambitious marketing campaigns in order to reach more customers and further increase brand recognition. Through these efforts, Zomm continues to provide cutting edge solutions for personal safety and security while maintaining strong relationships with partners who share similar values and goals.
Introduction Of Zomm’s Subscription Service
After their appearance on Shark Tank, Zomm went on to expand the reach of their products beyond just consumer sales. They began offering subscription models for businesses as well in order to provide higher value services and support; this included various B2B partnerships such as with Verizon and AT&T.
The new subscription service provided a wider range of options than what was previously available, including monthly plans that allowed customers access to discounted devices and accessories. Additionally, they offered priority customer support to subscribers who required assistance with product setup or troubleshooting issues.
This tier-based system helped them better allocate resources while still providing good customer service. Zomm’s move towards subscription models has proven successful and enabled them to offer more meaningful solutions for both individuals and businesses alike.
The company continues to see steady growth since its original launch over a decade ago, demonstrating how strategic changes can help an organization thrive in the ever-changing market landscape.
Zomm’s Recent Marketing Strategies
The presence of Zomm on social media platforms has allowed them to reach a wider audience more efficiently.
Zomm has implemented various digital campaigns, such as the ‘Zommify’ challenge, to attract potential customers.
As a result, Zomm’s number of followers on social media platforms has increased significantly since the appearance on Shark Tank.
Additionally, Zomm has also strategically used influencer marketing to reinforce their digital campaigns.
Social Media Advertising
In recent years, Zomm has employed innovative marketing strategies to further expand its customer base.
Social media advertising is a primary component of these efforts. Through social media targeting, the company can identify and reach out to potential customers that are most likely to purchase their products.
Additionally, influencer marketing allows for increased visibility through influential figures in the tech industry who help showcase the product’s features and advantages over other products on the market.
This type of targeted outreach provides an opportunity for businesses such as Zomm to increase brand recognition and gain more exposure among consumers looking for wireless lifestyle solutions.
As a result, sales have seen steady growth since 2015 when Zomm first appeared on Shark Tank.
Digital campaigns are another important marketing approach used by Zomm to expand its customer base.
These campaigns include digital advertising, content creation and optimization of search engine rankings via SEO techniques.
Digital analytics can be used to measure the success of these campaigns through metrics such as engagement rate, click-through rate and cost per acquisition.
This type of data allows for marketers to accurately assess which tactics are working best and focus their efforts on those that yield higher returns.
Moreover, since most of the costs associated with creating digital campaigns are upfront, companies like Zomm have been able to maximize ROI while keeping marketing expenses low.
As a result, sales have seen an uptick in recent years due largely in part to successful digital campaigns.
Zomm’s Current Standing In The Market
Following Zomm’s appearance on Shark Tank, the company has seen a surge in investment opportunities and customer feedback.
In many ways, it is like a phoenix rising from the ashes; an idea that was initially met with skepticism by the Sharks has since blossomed into one of the most sought-after consumer electronic companies today.
The success of Zomm can be attributed to its innovative approach to boosting user experience while providing secure protection for their technology products. The combination of cutting edge innovation and traditional customer service strategies have allowed customers to feel confident about investing in Zomm’s products.
This confidence has grown exponentially in recent years as more people become aware of what Zomm offers and how safe their data is when using these products.
Today, Zomm continues to blaze new trails in both product innovation and marketing strategy which are garnering rave reviews from consumers worldwide. Its position as a leader in the industry through its commitment to quality customer service makes it well-positioned for continued growth over the coming years.
Zomm is an example of a company that has experienced success after appearing on Shark Tank.
After declining the offer from the sharks, Zomm was able to rebrand and develop new products lines while introducing a subscription service.
The acquisition by Kastle Systems allowed for further expansion into the market.
Through recent marketing strategies, such as using influencers and social media campaigns, Zomm’s visibility in the market has grown exponentially with widespread global recognition.
To illustrate this point, it is estimated that over 10 million people are now familiar with Zomm’s product line due to their increased presence within popular culture – something which seemed impossible when they first entered Shark Tank all those years ago.