Zomm is a device that was designed to enable users to track their belongings and make sure that they do not lose and misplace their things. This wireless device for smartphones was represented in Shark Tank season 4 episode 4.
Henry Penix and his wife, Laurie Penix are the masterminds behind the idea of Zomm. They launched the product in 2009. Zomm connects to the smartphone of a user or other important things with the help of Bluetooth technology.
Zomm allows the device to connect with the belongings of the user and give signals when the things are left behind. There is a built-in proximity alarm in Zomm that gets turned on as soon as rye connected device moves a particular distance from the user.
The Zomm alarm cautions the user enabling them to get back their misplaced items before they get lost. There is also a panic button in Zomm. When you press it, it starts a loud alarm and automatically dials a pre-programmed emergency number.
The users get safety and security in dangerous circumstances with the help of this feature. There is a built-in speaker and microphone in the device that allows the users to take hands-free calls keeping their phone safe and secured.
There is a GPS technology in Zomm that enables the users to track the real-time location of their connected device. This can be particularly very useful for discovering lost or stolen things.
Zomm provides a companion mobile app with a variety of features and controls like the ability to customize the settings of the device and get notifications when the device is not within range.
Zomm was able to grab the attention of people within a short time because of its unique approach of providing a solution to a general issue: losing or misplacing important things. The features of the device enable the users to track their belongings and provide some added safety and convenience advantages.
The visibility of the product improved more when it was featured on Shark Tank which in turn made the business successful.
A Brief Note On Zomm
Zomm is a firm that is popular for manufacturing wireless devices and accessories for personal safety and security. One of the most popular products of the company is Zomm Wireless Leash.
You may attach this small wireless device to keys, bags, or other important things. Zomm connects to a smartphone through Bluetooth and warns the users whenever they leave their things behind. One may also use this tool as a personal safety device as it has features like emergency calling and panic alarms.
Zomm was set up in 2009 to create wireless products that improve personal safety and security. The flagship product of the company is the Zomm Wireless Leash which became very popular for its innovation functions.
The Zomm Wireless Leash is a small, compact device. You may easily attach this tool to your personal belongings like keys, bags, or pets and it connects to a smartphone by using Bluetooth technology.
Zomm gives a loud signal whenever the Bluetooth connection is broken and the smartphone user obtains a notification whenever the Bluetooth connection is severed. This enables the users to reduce the chances of leaving their belongings behind or losing them.
Besides the wireless leash feature, the device also has other helpful functionalities. This can be used as a personal safety device with features like an emergency calling button.
The Zomm device can make a call to a pre-selected emergency contact or even emergency services in a crisis. The tool also has a panic alarm feature that can be turned on to grab attention and prevent potential threats.
From the date of beginning, the company has been continuously innovating and expanding its product line. It has launched new versions of the Wireless Leash with improved features and abilities.
The Zomm products are designed to offer peace of mind and enhance personal safety in different circumstances.
Also Read: What Happened To Smell Soap After Shark Tank
Henry Penix and his wife Laurie Penix are the co-founders of Zomm. Entrepreneur Henry Penix has a background in technology and business.
He has experience in different industries like telecommunications, e-commerce and software development. The idea of creating Zomm came up in their minds when Laurie Penix encountered a general issue: misplacing her mobile phone.
She sometimes leaves her phone behind in different places like restaurants or shops and then she spends a lot of time and gives a lot of effort to get it back. When the couple understood that a lot of people may face this issue, they made up their minds to create a permanent solution to this problem.
Henry and Laurie Penix developed Zomm by combining their skill in technology and business. They wanted to make a device that would help people to track their belongings, especially their mobile and make sure that they would not lose or misplace them.
The couple put a lot of effort into the concept and design of the tool and finally, they introduced a wireless leash that maintains a connection with the smartphones of the users and warns them if devices are left behind by using Bluetooth technology.
Besides this, the primary function of the device is to help users keep track of their belongings. Henry and Laurie Penix incorporated more features into Xomm like the panic button, speakerphone capability, and GPS tracking.
These features have made the device more valuable and more appealing to potential users. The product became successful due to the dedication of the couple to solve a general issue and a unique approach to introducing Zomm.
The visibility of the company improved more when it appeared on Shark Tank which in turn increased the interest and demand for the device. Before coming up on Shark Tank, Zomm already got some traction and recognition in the market.
The device has also gotten attention from different media outlets and has also become the winner of various awards for its unique design and features.
The official launch of Zomm occurred in 2010 and the company started marketing the product to the public.
Initially, the device was sold through the Zomm website and after that, it gradually became available at different retailers. At the International Consumer Electronics Show (CES) in 2010, Zomm won the Innovations Design and Engineering Award in the Wireless Handsets Accessories category.
This prestigious award is generally given to products depicting incredible design and engineering in cutting-edge consumer electronics.
Before appearing on Shark Tank, Zomm was featured by different media outlets along with articles and reviews in tech magazines, blogs, and newspapers. With the help of this exposure, consumer awareness of the product and its unique features was raised.
Initially, the company concentrated on the wireless leash for smartphones but later it improved its product line to add other important things like keys and wallets.
With the help of this development, the company was able to reach a broader audience and provide solutions for things that tend to be misplaced or lost.
Despite all these accomplishments, Zomm was still a comparatively small company with restricted marketing and distribution resources. Zomm got remarkable exposure on Shark Tank and was able to reach a wider audience.
Also Read: What Happened To RokBlok After Shark Tank
What Occurred To Zomm on Shark Tank?
The founders of Zomm, Henry Penix and Laurie Penix pitched their Zomm products on Shark Tank season 4 episode 4. They were looking for an investment from the sharks so that they could level up their business, increase distribution, and develop their product line.
The couple began the pitch by depicting the idea of Zomm as a wireless leash for smartphones and other important things. They explained how the tool works by connecting it to a smartphone through Bluetooth and displayed the primary features like the proximity alarm, panic button, speakerphone capability, and GPS tracking.
The founders shared that they had already acquired remarkable milestones before appearing on the show like winning the CES Innovations Design and Engineering Award, receiving media attention, and generating sales through their website and retail partners.
They appealed to the sharks for an investment of $2 million in return for a 10% stake in their business valuing the company at $20 million. The sharks were concerned due to the high valuation and they inquired about the revenue of the company, growth potential and market size.
The sharks gave mixed statements about the product and the valuation of the company throughout the pitch. A few sharks were able to understand the potential of Zomm and praised its unique features. On the other hand, some sharks thought that the market for such products was restricted and the valuation was very high.
Finally, none of the sharks agreed to invest in the business as they were concerned about the high valuation and the competitive landscape of the market.
The founders had to leave the show barehanded. However, the exposure they got from the show enabled them to increase awareness of Zomm and its innovative features among the customers.
Also Read: What Happened To Toygaroo After Shark Tank
Indeed, Zomm was not able to get a deal on Shark Tank, but the exposure they got from the show left a positive impact on the business. With the help of the increased visibility, the awareness of the product was raised and Zomm kept trying to grow and develop after the show.
Zomm after Shark Tank faced an incredible time in sales because of the exposure generated by the show. This enabled Zomm to keep building its consumer base and reach more people who could get help from its unique features.
The company kept growing its distribution channels to make the product more widely available among the customers. The product of the company was available through different online and brick-and-mortar retailers and gradually it increased its accessibility.
Zomm kept investing in research and development to develop its prevailing products and make new solutions for customers. The company wanted to address the feedback of customers and include new technologies to improve the functionality and user experience of the audience.
Soon after the appearance of Zomm on Shark Tank the market for personal item trackers became very competitive as other companies were also trying to launch similar products.
The current status of the company is limited. However, the firm got benefits from the exposure through Shark Tank.
The unique approach of Zomm easily grabbed the eyes of customers who were looking for a convenient solution to keep track of their belongings and stay attached to their devices.
Also Read: What Happened To Sunscreenr After Shark Tank
After the appearance of Zomm on Shark Tank, it encountered a lot of problems in the competitive tech market. Although it did not get any investment from the sharks, the founders kept marketing their product and launched new versions with some added features.
Nevertheless, they had to struggle a lot to acquire a concrete foothold in the market as there was tough competition in the market from other tech giants who were providing similar tracking features.
The company also encountered financial problems when they became defaulters on a large loan taken against their parents which led to a legal dispute and finally bankruptcy filing in 2013. This failure showed the volatile and unknown nature of the tech industry.
As of 2023, the CEO of Zomm, Henry is currently holding the position of Chief Executive Officer at Soaak Technologies.
Also Read: What Happened To Puppy Cake After Shark Tank
- It can be connected wirelessly to iPhones.
- It has an easy-to-use app that can be installed on your PC and iPhone.
- To use this tool you just press the button.
- It has a speakerphone with a noise-cancelling microphone.
- It is not compatible with Android mobiles.
- Bluetooth connectivity may be affected by interference from other wireless devices.
- It is a fragile device. It can be easily broken if dropped.
Mobile phones are used everywhere. This is a very important handheld device and it has changed the way we communicate globally. The market is growing constantly and there is a constant requirement for peripheral devices to improve the experience. Zomm is an ideal device to do that. It has given an accurate solution to a genuine problem encountered by mobile phone users. It could be a default purchase for those who have a cell phone. However, unfortunately, Zomm had to close due to the bad bookkeeping and disorganized business management of Henry.
Did Zomm Get A Deal On Shark Tank?
No, Zomm was not able to secure a deal on Shark Tank. The founders of the company appeared on Shark Tank intending to get an investment of $2 million in exchange for a 10% share in the business. But unfortunately, none of the sharks were interested in investing their money in the business. Although the company became successful initially due to its unique product, it faced financial problems and finally ceased its business operations in 2018.
Is Zomm Still In Business?
According to our research, Zomm ceased all its business operations in 2018. Zomm faced a while in sales after appearing on Shark Tank but finally, it went out of business. The founder of the company, Henry Penix is now the CEO of Soaak Technologies which concentrates on offering online services in the mental health and wellness field.
What is the net worth of Zomm?
As per the valuation, the net worth of Zomm is $0 as the company is not active in business any more as of 2023. But when it appeared on Shark Tank, the valuation of the company was $20 million.