Neo Mag Light’s Nick Gonzales and Kevin Mack present their hand-held, at-home tattoo removal gadget in episode 420 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 it 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 the position of Vice President.
During the process of formulating their business plan, they conferred with a consulting firm that included both attorneys and investment advisors in addition to 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 that explain how the at-home tattoo removal works and what you should reasonably expect from the process, taking into account your specific circumstances.
Please ensure that you have completed all of the essential research before to making a purchase of the Neo Mag Light if you currently have a tattoo that you wish to have removed and are thinking about using the device.
What Are Neo Innovations?
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.
|Company Name||Neo Innovations|
|Entrepreneur||Kevin Mack and Nick Gonzales|
|Product||Tattoo Removal Device|
|Investment Asking For||$80,000 For 20% equity in Neo Innovations|
|Final Deal||No Deal|
|Episode||Season 4 Episode 18|
|Business Status||In Business|
Who Is The Founder Of Neo Innovations?
Nick Gonzales And Kevin Mack are the founders of Neo Innovations, the company behind Black Magic IPL.
Neo Innovations Before Shark Tank
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 loved 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 the skin and removal 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.
Many people don’t know that IPL light can remove tattoos, despite its long history. 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 anyhow.
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 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, so he also left the room. Kevin expressed his admiration for the company but agreed with Mark’s assessment and left.
The Mack brothers tried to advertise the product’s safety features, such as its easily turned off when not in use.
In the end, this didn’t persuade Daymond, and he left the Sharks for the same reason.
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 just a few weeks.
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” as of August 2021, 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
Black Magic IPL is still available for purchase from Neo Innovations, despite the company’s lack of a deal.
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 benefits far outweigh risks.
Are Neo Innovations Still In Business?
Neo Innovations developed a lower-power patented device due to Shark Tank’s unfavorable press, which plastic surgeon Dr. Debartolo has evaluated in clinics around the world.
Neo Innovations products are available on Amazon and the company’s website for about $160.
Neo Innovations is still in business as of 2022 with its products available on Amazon and its own 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 around $1 million as of 2022.