InvisiPlug Shark Tank Update | InvisiPlug Net Worth

InvisiPlug appeared on Season 5 of Shark Tank as a product designed to help homeowners and renters camouflage their power strips, allowing them to blend seamlessly into their surroundings.

InvisiPlug, fundamentally, is a surge protector and power strip, but its unique selling point lies in its design aesthetics.

InvisiPlug is characterized by its wood grain finish, which sets it apart from traditional power strips. It comes in three different styles: Light Natural, Medium Cherry, and Dark Oak, allowing it to blend with various types of flooring or furniture easily.

InvisiPlug power strips combine aesthetics and functionality by providing six outlets and two USB ports. It also provides surge protection, making it an ideal choice for individuals looking to protect their electronic devices from unexpected power surges.

InvisiPlug adds to the room’s aesthetic appeal by eliminating traditional power strips’ eye sores, providing a practical solution for powering multiple devices simultaneously.

The convenience of having multiple outlets and USB ports in a single power strip is highly appreciated in the electronic age.

Furthermore, its surge protection feature adds an extra layer of security for valuable electronics. These features make InvisiPlug a good choice for anyone seeking a blend of design, functionality, and safety in a power strip.

What Is InvisiPlug?

InvisiPlug is a product designed to blend in with your existing electrical outlets. It is a power strip that can be mounted onto the wall, providing multiple outlets to plug in your devices.

InvisiPlug is a power strip that seamlessly blends with your wall, making it less noticeable than traditional power strips. You can keep your living space clutter-free and clean with this method.

InvisiPlug is a power strip that is virtually invisible when mounted on the wall. It features a sleek, low-profile design that matches your existing electrical outlets. The strip is made of high-quality materials and is available in different colors and finishes to match various wall types.

The InvisiPlug power strip offers multiple outlets, typically three to six, allowing you to connect and power multiple devices simultaneously. It has surge protection to safeguard your devices against power spikes and surges. Some models may also include USB ports for charging your mobile devices.

InvisiPlug is relatively easy to install. It typically involves removing the existing outlet cover, attaching the InvisiPlug strip, and securing it. The strip is designed to fit most standard outlets, but checking compatibility before purchasing is always recommended.

InvisiPlug’s main advantage is its ability to blend seamlessly with your wall, minimizing visual clutter and maintaining a clean appearance. It can be particularly useful in areas where traditional power strips, such as living rooms, bedrooms, or offices, may stand out or disrupt the room’s aesthetics.

InvisiPlug offers a unique solution for concealing power strips; however, it is essential to follow electrical safety guidelines and not overload the outlets or exceed the recommended wattage.

InvisiPlug offers a stylish and practical solution for individuals who want to maintain a clean and uncluttered look while having multiple outlets readily available for their devices.

Who Is The Founder Of InvisiPlug?

InvisiPlug was founded by Michael Barzman and Bryan O’Connell. Michael Barzman and Bryan O’Connell were motivated by a desire to blend the utility of power strips with the aesthetics of interior design.

They noticed the conventional white and black power strips often stood out starkly against different types of flooring and furniture, detracting from the room’s overall decor.

From this observation, the idea of InvisiPlug was born—a power strip that could blend seamlessly with wood flooring or furniture, thereby maintaining the space’s aesthetic appeal while providing essential functionality.

Before appearing on Shark Tank, InvisiPlug faced the common challenges of any startup: building a brand, reaching the target market, and competing with established players in the electronics accessories market.

Despite these hurdles, the duo saw enough potential in their product to present it to the Sharks in Season 5, hoping for an investment to help them take InvisiPlug to the next level.

Their appearance on the show allowed them to gain invaluable exposure and the opportunity to scale up their business.

How Was The Shark Tank Pitch Of InvisiPlug?

InvisiPlug’s Shark Tank pitch was led by founders Michael Barzman and Bryan O’Connell. They began their presentation by seeking $125,000 for a 10% equity stake in InvisiPlug, explaining that the product was a unique line of surge protectors designed to blend with hardwood floors.

Although the product had just launched, they claimed to have received an overwhelmingly positive response.

Each Shark was given an InvisiPlug to review during the pitch, demonstrating its three available colors. While the founders were optimistic, the Sharks had varied opinions.

Mark Cuban disagreed with the product being termed niche and didn’t appreciate its aesthetics, promptly bowing out of any investment opportunity.

Similarly, Robert Herjavec failed to see a substantial market for the product, noting that surge protectors are typically hidden behind furniture. He also opted out.

Kevin O’Leary was critical of the company’s valuation and declared himself out. Barbara Corcoran liked the product’s price point but, like O’Leary, found the valuation excessive and bowed out.

Finally, Lori Greiner showed interest in the product. After learning that the founders had invested around $70,000 in InvisiPlug, she offered $125,000 for 10% equity, stipulating receiving a dollar per unit sold until her investment was recouped, then 25 cents per unit in perpetuity. This was to protect her investment, given the product’s unproven sales.

In an unexpected move, Robert Herjavec re-entered the discussion with a counteroffer of $125,000 for a 25% equity stake, with no royalties involved.

The founders tried to negotiate him down to 20%, but when they asked for more time to consider, Herjavec declared himself out again.

Ultimately, the founders accepted Lori’s offer despite its steep terms. After their Shark Tank appearance, InvisiPlug became a success nationwide, becoming one of Lori’s “all-star products” and featuring in Bed Bath & Beyond.

Thanks to the exposure and Lori’s mentorship, InvisiPlug saw robust sales, confirming the Shark Tank experience as a win-win situation for all parties involved.

What Happened To InvisiPlug After Shark Tank?

Following their appearance on Shark Tank, the InvisiPlug business initially experienced substantial success. Founders Mike Barzman and Brian O’Connell successfully secured a deal with Lori Grenier: an investment of $125,000 in exchange for a 10% equity stake in the company, plus a royalty of $1 per unit sold until the loan was repaid, followed by a royalty of $0.25 per unit sold in perpetuity.

The InvisiPlug power strips, designed to resemble wood grain in three different shades, were sold at a retail price of $14.99 each.

With the boost from the Shark Tank appearance and Lori Grenier’s investment, the product was featured in Oprah Winfrey’s O Magazine as a must-have item, and it started to create buzz among big box retailers. Costco approved their product for a trial run, with the potential for larger orders.

InvisiPlug was on the rise, with notable sales on QVC, and the product was retailing in major outlets, including Target, Staples, and Amazon. However, despite the promising start, InvisiPlug’s journey took a negative turn in 2016.

An unfortunate personal incident involving Mike Barzman, who was charged with assault, led to turmoil for the company, which ultimately folded.

Therefore, despite an initially successful run post-Shark Tank, InvisiPlug could not sustain its growth, and the company eventually went under.

InvisiPlug Shark Tank Update

After striking a deal with Lori Greiner on Shark Tank, Invisiplug experienced significant sales growth. The product was made available on Amazon, Staples, and Target, expanding its distribution channels.

However, the business faced challenges when one of the founders, Michael Barzman, encountered legal issues related to a felony assault with a firearm in July 2016.

He pleaded not guilty but was subsequently caught up in another similar case in January 2020, which was eventually dismissed.

As a result of these legal troubles and the other founder, Bryan O’Connell, keeping a low profile, Invisiplug went out of business in December 2017.

Despite its initial success and valuation of around $1.25 million during the Shark Tank appearance, the company could not sustain operations due to the abovementioned issues.

Michael Barzman has been involved in the auction business, while Bryan O’Connell has remained in hiding.

Is InvisiPlug Still In Business?

Invisiplug, the company that designed and sold power strips with a wood grain look, went out of business in December 2017. Despite initially receiving positive attention and securing a deal with Lori Greiner on the reality TV show Shark Tank, the company faced challenges that ultimately led to its closure.

Following its appearance on Shark Tank, Invisiplug expanded its distribution to include major retailers such as Target, Staples, and Amazon.

However, despite these efforts, the business could not sustain its operations. The exact reasons for the company’s closure are not explicitly mentioned in the provided information.

Furthermore, legal issues involved one of the co-founders, Michael Barzman. In 2016, Barzman was arrested for felony assault with a firearm but later had the case dismissed. Then, in 2020, he was arrested again for assault with a firearm, but the charges were also dismissed.

In April 2023, Barzman pleaded guilty to making false statements to the FBI regarding forged paintings attributed to Jean-Michel Basquiat. These incidents might have further compromised the company’s reputation and operations.

Michael Barzman runs an auction business, while Bryan O’Connell keeps a low profile. Given the information provided, it appears that Invisiplug is no longer in business.

What Is the Net Worth Of InvisiPlug?

According to our research, the net worth of InvisiPlus is estimated to be $0 since the company is out of business. The valuation of InvisiPlug was $1.25 million after securing an investment from Lori Greiner on Shark Tank.