The circadian rhythm prepares the human body for expected changes throughout the day. When it’s interrupted, sleeping problems will occur. Amber Leong created a solution for this problem with a light therapy lamp called Circadian Optics. She pitched it on Shark Tank and secured a deal with Lori Greiner and Mark Cuban. As of 2023, Circadian Optics is worth an estimated $7 million.
Amber Leong’s Background
Amber Leong is a Malaysian native, her parents spent $10,000 of their retirement money to take her to the United States. She settled down in Bemidji, Minnesota, where she went to Bemidji State University.
In 2006, Amber graduated with a bachelor’s degree in communication, journalism, and related programs. As a student, she worked as an event coordinator for Unilever and a marketing associate for Atech Scientific Measurement.
Two years later, she went to Saint Mary’s University of Minnesota to get an MBA with a focus on marketing. Before graduating in 2010, Amber was hired as an account management intern for Capsule and associate brand manager for Jack Link’s Beef Jerky.
The Birth of Circadian Optics
At Jack Link’s Beef Jerky, Leong was promoted to brand manager and was given a dull boring office. While working in the midst of winter, the lack of sunlight exposure gave her seasonal affective disorder (SAD), which affected her circadian rhythm, sleep, and health.
Her body’s internal clock was out of whack. She planned to resolve this by creating a lighting device that could simulate the sun’s cycle, and the end result was Circadian Optics. The company officially launched in 2015.
It provided bright-light therapy, which is proven by several studies to be an effective way to treat SAD. Leong’s lamps have a remarkable profit margin of 70%. Before entering the Tank, the company did $7.4 million in lifetime sales and $4 million in annual revenue.
Shark Tank Pitch
In 2019, Amber Leong entered the Tank during season 11 and asked for $750,000 in exchange for 10% of her business. She came in with the story of how much her parents sacrificed to give her a better life.
The Sharks were very touched by the story, even Kevin O’Leary started crying. The Sharks were also impressed when the entrepreneur started talking about the success of her product. This caused the Sharks to form two teams.
Kevin O’Leary and Barbara Corcoran partnered to offer $750,000 for 20%. Mark Cuban and Lori Greiner gave the same price but with a $50,000 bonus for Leong’s parents. Mark and Lori’s $50,000 bonus was a nice touch and was the deciding factor in getting the deal.
What Happened After Shark Tank?
Unfortunately, it appears the deal with Mark and Lori never closed. Neither of the Sharks lists the company on their personal website. Despite the setback, Circadian Optics is still thriving as a business.
They now offer a wider selection of lamp sizes. In addition, they got into retail chains such as Walmart and Best Buy. Their products are selling well on Amazon, and they have over 5,695 reviews for the light therapy lamp. Despite the pandemic, sales increased as people were spending more time at home.
The business makes $5 million in annual revenue according to Zoominfo.com. These figures are expected to increase over time. Currently, Circadian Optics is worth an estimated $7 million.