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What is Zomm? Is Zomm still in business after Shark Tank Appearance?


    If you misplace your keys or phone, Zomm will send you a notification. If a gadget on your keychain moves more than 20 or 30 feet away from your phone, you'll be notified. 

    Zomm is an inventive modern-day solution that was made famous after appearing on the hit US TV show Shark Tank back in Season 4.

    But where has the business gone since Zomm shark tank appearance? Was this just a hyped product on a TV show, or has it gone much further than this? 

    In this article, we’re going to explore everything you need to know about Zomm!


    Zomm


    What is Zomm?


    Zomm is a device designed to ensure you never lose your mobile device, and in a world where our phones have everything about us literally on them, from our messages and photos to social media accounts and payment data, this has never been more important.

    The Zomm device is actually quite simple and will vibrate and illuminate in the dark. If it doesn't get your attention, a loud alarm will go off and won't stop until you turn it off. The alarm can be turned off by hitting a button on the gadget.

    You may use the Zomm to find your keys as well. Zomm can also be used in an emergency because it can be programmed with anyone's phone number.

    Henry Penix was the sole founder of Zomm, however, Laurie (his wife) was instrumental in its growth.

    Penix has a proven track record as a business owner. Before Zomm, they established a successful daycare, Koala Care Preschool.

    To fund the creation of the Zomm, Penix sold their preschool for $4 million.

    Additionally, a second investor contributed $5 million, bringing the total investment to $9 million. This key fob is made out of the initials of their children's names, which is a clever acronym. The final letter is addressed to Mom, and it expresses his appreciation for his wife.

    Zomm is the owner of numerous patents. Originally intended to alert a user if they had left their phone at home.

    The product, on the other hand, was designed to offer additional features, such as emergency dialling. A user can call 911 or a pre-selected emergency contact.


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    “Due to its unique innovation, Zomm was an instant hit on the market. Zomm was designated the winner of the CES Innovation Award in 2010 after achieving $750,000 in sales. The sales volume nearly doubled to $5,000,000.00 in 2011,” explains Sarah Connor, a business writer at Britstudent and Nextcoursework.

    “The company's expected revenues were $7,000,000 when it first appeared on Shark Tank in 2012. It's not unexpected that sharks are interested in the business.”


    Zomm Shark Tank Appearance


    Back in October 2012, Henry Penix, the founder of Zomm's technology business, pitched his product on Shark Tank. He went into the Tank looking for a $2 million investment in exchange for a 10% ownership in his company.

    From the introduction stage, Henry Penix entered the Shark Tank, he revealed to the Sharks that he was the CEO of Zomm and was looking for $2 million in exchange for a 10% stake in the company.

    According to Henry, Zomm creates products and services that allow people to do new things with their phones. He asked the Sharks whether they'd ever left their phone at home and then thought about it for the rest of the day.

    Henry stated that he could empathise with such a situation. His company, Zomm, makes keychains that vibrate when customers take their hands away from their phones.

    As Henry went away with the phone, Henry demonstrated by asking Mark to hold it. He should be detecting vibration and witnessing my contract, Henry told him. Mark confirmed that this was indeed the situation.

    Henry said that if you did not return to grab your phone, an alarm would sound, progressively growing in loudness. You can turn off the Zomm device by pressing the middle button.

    The Zomm device, according to Henry, can also be used as a key finder. When Henry returned, he handed the device to Daymond and told him to deliver it to another Shark.

    Using his phone, Henry was able to find the device quickly. The Sharks were then informed that the device may also be used as an emergency dialer.

    He claimed that Zomm could be programmed with any number. He pressed a button and spoke with his wife, who asked if he was in danger. Henry hung up after responding that he might be because he was now "Swimming with Sharks."

    Daymond wondered if it was a more modern take on "I've fallen and am unable to get up." Henry confirmed that it did have that feature and said that it attracted a lot of customers.

    Daymond mentioned that he had previously seen the individual components in various goods and wondered if the total value of all the parts was $20 million. It was, Henry stated strongly.


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    Mark was curious about the company's sales, expenses, and retail prices. In 2010, their first year, they made $750,000, according to Henry. He went on to say that he had won invention prizes in the previous three years and was the owner of global patents.

    When Robert questioned about the sales for the following year, Henry said that they topped $5,000,000,000. The Sharks seemed a little taken aback. When Robert inquired about the 2012 projections, Henry stated that they were $7.2 million.

    Daymond felt that was a good point and wanted to know what the profit margin was on that. Henry was ecstatic by the amount, estimating that the company would make $2 million.

    “However, it wasn’t able to find a deal in the end and left the Shark Tank with no investment whatsoever. While you can still purchase some devices from some outlets on Amazon, the Zomm company is no longer operational, no longer producing products, and the websites are online but have no content” shares Nick Berry,  a social media writer at Originwritings and PhD Kingdom.


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    What Happen to Zomm After Shark Tank?


    Following their participation on Shark Tank, Zomm's website traffic and sales skyrocketed.

    In the week following their appearance, they received over 250K hits to their website and produced a large amount of revenue. In an emergency, Zomm's "personal concierge" service, which allows users to call 911 and a predetermined list of numbers, continues to increase.

    The "Wireless Leash," as Zomm has nicknamed it, is still available online, most notably at Amazon. In black, white, and pink, the normal ZOMM Wireless Leash costs $49.95, while the ZOMM Wireless Leash Plus costs $79.95. The ZOMM Wireless Leash Plus allows you to answer incoming calls and geo-locate your vehicle while driving.


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    However, it didn’t last, and after the first spike, sales didn’t continue to push through, and the business eventually had to shut down.

    Nowadays, Henry Penix is the CEO of Soaak, a company that combines digital frequencies and daily meditations to promote positive mental health and fitness. He is still the CEO of ZOMM, despite the company having discontinued operations.

    About the Author: Michael Dehoyos is a tech writer and business consultant turned and editor at Academic Brits. He assists companies in their marketing strategy concepts, likes to write about business topics that interest him, contributing to numerous sites and publications.

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