Neo Innovations Shark Tank Net Worth

Neo Mag Light’s Nick Gonzales and Kevin Mack present their hand-held, at-home tattoo removal gadget in episode 20 of season 04 of Shark Tank. The gadget is patent-pending and marketed as a less expensive alternative to costly laser tattoo removal.

You now have a fourth choice of erasing tattoos at home using a Neo Mag Light, which is simple to see will become a very popular new option for thousands of people. You can remove tattoos at home with a Neo Mag Light.

Since 2010, Neo Innovations, the firm behind the magnetic light, has been offering tattoo removal services at prices that are affordable to customers. In 2011, they hired Kevin Mack as the marketing director, and he has since been promoted to Vice President.

While formulating their business plan, they conferred with a consulting firm that included attorneys, investment advisors, and plastic surgeons. They established a business that delivers what it promises, provides products that are both safe and inexpensive and provides outstanding service to its customers.

They have many videos explaining how at-home tattoo removal works and what you should reasonably expect from the process, considering your specific circumstances.

Please ensure that you have completed all of the essential research before purchasing the Neo Mag Light if you currently have a tattoo you wish to remove and are considering using the device.

Company NameNeo Innovations
EntrepreneurKevin Mack and Nick Gonzales
ProductTattoo Removal Device
Investment Asking For$80,000 For 20% equity in Neo Innovations
Final DealNo Deal
SharkNo Shark
Episode Season 4, Episode 18
Business StatusIn Business

What Are Neo Innovations?

Neo Innovations is a company that developed a unique tattoo removal device designed for at-home use. The company was founded by Nick Gonzales and Kevin Mack, who wanted to create a more accessible and affordable alternative to traditional laser tattoo removal procedures.

The Neo Innovations tattoo removal device uses a combination of light and heat to break down the tattoo ink particles in the skin, which are then gradually absorbed and eliminated by the body’s natural processes.

The device will be used over multiple sessions to gradually fade and remove the tattoo without expensive and potentially painful laser treatments.

Neo Innovations is a firm that specializes in providing one-of-a-kind tattoo removal through the use of their product Black Magic IPL. It is more cost-effective than laser treatment to remove tattoos.

Neo Innovations Shark Tank Net Worth

Nick Gonzales and Kevin Mack appeared on Shark Tank’s TV show to pitch their business and seek investment to help grow and expand the Neo Innovations brand.

Who Is The Founder Of Neo Innovations?

Nick Gonzales And Kevin Mack are the founders of Neo Innovations, the company behind Black Magic IPL.

The Black Magic IPL is the product of Neo Innovations, which provides one-of-a-kind tattoo removal methods.

Nick Gonzales and Kevin Mack founded the company after Kevin discovered a high demand for tattoo removals after many clients visited his tattoo shop for removals rather than for tattooing.

While IPL has been around for a long time, Nick and Kevin were the first to use it to remove tattoos. This novel concept enabled them to gradually expand their firm before appearing on Shark Tank, as their procedure was FDA-approved.

The goods were successfully sold on Amazon, and the company generated significant revenue within a year. They went on Shark Tank hoping to continue their business growth since they needed funds to obtain FDA approval and were invited back for season four.

How Was The Shark Tank Pitch Of Neo Innovations?

Kevin and Nick Mack went into the Tank hoping to get $80,000 in exchange for a 20 percent stake in their company. For starters, Nick outlined the troubling fact that half of the people who get tattoos do so because they love the idea of them.

Nick and Kevin have created an alternative to the painful and time-consuming process of removing tattoos with lasers with their Black Magic IPL product.

After a few weeks, the tattoo will begin to fade. A tattoo Kevin had erased weeks earlier was displayed to Robert, who was astounded at how quickly it could be done in just one session.

Nick and Kevin presented two balloons representing tattoo removal from beneath and from the skin’s surface, similar to their product. When the light was pulsing on the white balloon, nothing happened when it hovered over the black balloon because there were no pigments to collect light energy.

O’Leary questioned if the average individual could grasp why this device functioned and whether they were intelligent enough to use it correctly. Kevin O’Leary was right.

According to Nick, since the device doesn’t penetrate the skin, it’s safe to use at home. Despite its long history, many people don’t know that IPL light can remove tattoos. Kevin Mack revealed how he came up with the idea.

Macks, who explained that the device had sold more than a dozen thousand in one and a half years, retails between $139 and $300. O’Leary was interested in the stats. Nick stated that they intended to make $200,000 in sales this year.

Robert brought up his concerns about the product’s safety. Nick and Kevin Mack affirmed that Robert could use it on himself without assistance and that a significant tattoo may be removed in one treatment if the user is healthy.

Barbara was asking whether the procedure was approved by the Food and Drug Administration (FDA). 

Nick and Zac estimated the cost of getting their product approved to be between $20,000 and $100,000. The safety element couldn’t hold Barbara back, and she walked out.

Mark was intrigued by the concept but was wary of being sued for the “craziest stuff,” as he put it. He went out because he feared that this product would also increase the number of times he was sued.

Mark reassured Nick that the science behind the product was not new and did not affect the product’s safety or his vulnerability to lawsuits.

After hearing Mark’s concerns, Robert was much more concerned about the safety issue and left the room. Kevin admired the company but agreed with Mark’s assessment and left.

The Mack brothers tried to advertise the product’s safety features, such as being easily turned off when not used. Ultimately, this didn’t persuade Daymond, and he left the Sharks for the same reason.

Neo Innovations Shark Tank Recap

Nick Gonzales and Kevin Mack, the founders of Neo Innovations, appeared on Shark Tank in Season 5, Episode 6, which aired on October 18, 2013. They entered the tank seeking a $200,000 investment in exchange for a 12.5% equity stake in their company.

During their pitch, Nick and Kevin showcased the Neo Innovations tattoo removal device, explaining how it worked and emphasizing its potential as a more accessible and affordable alternative to traditional laser tattoo removal procedures.

They also provided before and after images to demonstrate the device’s effectiveness in fading and removing tattoos over time.

While the Sharks acknowledged the sizeable market for tattoo removal, they expressed concerns about the safety, effectiveness, and potential liability issues associated with an at-home tattoo removal device.

Some of the Sharks also questioned the founders’ backgrounds and qualifications to develop and market a product in the medical and aesthetic field.

Ultimately, none of the Sharks were convinced about the viability of Neo Innovations’ product, and the founders left the tank without securing a deal. The concerns about safety, effectiveness, and liability were the primary factors that deterred the Sharks from investing in the company.

What Happened To Neo Innovations After Shark Tank?

A lack of confidence in the safety of the Neo Mag Light tattoo removal device led the Sharks to decide against investing.

The company has been without a website for a while, but sales are significant enough to warrant its continued existence. The product’s efficacy has received a mixed bag of reviews.

Blistering and scorching are common complaints from users, and some consumers deny that the product had any impact on their ink. The other group hails it as an inexplicable breakthrough that erased all their tattoos within a few weeks.

Neo Innovations Shark Tank Net Worth

The Sharks were right to remain cautious since the FDA has not approved any at-home tattoo removal products. It is up to each consumer to determine whether or not the system works for them. “Buyer beware” may apply here.

Everything on the company’s website is marked as “sold out” when the products were last seen on Amazon. Also, social media is a dismal place. This business appears to be on its last legs.

Neo Innovations Shark Tank Update

Despite the company’s lack of a deal, Black Magic IPL is still available from Neo Innovations. However, it doesn’t seem to have grown much, as the product is no longer available on Amazon or anywhere else.

Nick and Kevin Mack impressed the Sharks with their presentation and the benefits of their product, but they could not convince them of its safety. It is unlikely that the Sharks would have invested in them even if they had a superior track record.

However, it can be learned from this example that safety concerns are a key concern for investors, and a company should show that there are no risks and that the benefits far outweigh the risks.

Are Neo Innovations Still In Business?

After their appearance on Shark Tank, Neo Innovations faced significant challenges due to the concerns raised by the Sharks regarding the safety, effectiveness, and potential liability of their tattoo removal device.

The negative feedback and lack of investment from the Sharks made it difficult for the company to build credibility and generate consumer trust.

In response to the concerns raised on the show, Neo Innovations took steps to address their device’s safety and effectiveness issues. They developed a new version called the “Black Magic Tattoo Removal,” which they claimed was more effective and safer for at-home use.

However, the company continued to face skepticism from consumers and professionals in the tattoo removal industry, who were concerned about the potential risks of using such a device without proper training and supervision.

Neo Innovations developed a lower-power patented device due to Shark Tank’s unfavorable press, which plastic surgeon Dr. Debartolo has evaluated in clinics worldwide.

Neo Innovations products are available on Amazon and the company’s website for about $160. Neo Innovations is still in business with its products available on Amazon and its website.

What Is the Net Worth of Neo Innovations?

The valuation of Neo Innovations was $400,000 when it appeared on Shark Tank. The net worth of Neo Innovations is $0 since the company seems out of business.

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