Gunnar Optiks is a line of eyeglasses designed to eliminate computer eyestrain and block harmful rays. The amber polycarbonate lenses filter out blue light and add contrast to the screen which relaxes the eye. The lenses also come with an anti-reflective coating to reduce glare. The entrepreneur behind Gunnar Optiks, Joe Croft from San Clemente, California, pitched his patented eye-wear business on Shark Tank in February 2018. He went into the Tank seeking an investment of $750,000 in exchange for 5 percent equity. Yes, that’s a $15 million valuation. Croft (a Stanford engineer and former Oakley executive) gave a persuasive pitch which included the claim that Gunnar Optiks has been “scientifically proven to reduce that harmful blue light emitted by computer screens by 65 percent.” He eventually accepted Lori Greiner‘s offer of $750,000 as a loan at eight percent interest for five percent equity.
After filming the Shark Tank episode, Gunnar landed a partnership with Coke Esports. Gunnar made a limited edition of its popular ENIGMA gaming eyeglasses for Coke Esports (photo below). Coca-Cola sponsors the popular annual League of Legends World Championships hosted by Riot Games. Winner gets $1 million. In 2017, the finals were watched by 60 million people across the world. [Related: 27 Favorite ‘Shark Tank’ Products at Amazon]
Season 10 of Shark Tank premieres on Sunday, October 7 at 10pm on ABC. Guest sharks to include NBA legend Charles Barkley, CEO of RSE Ventures and Miami Dolphins executive Matt Higgins and, for the first time, a former Shark Tank entrepreneur. (Jamie Siminoff didn’t get a deal on Shark Tank for his video doorbell Ring but he sold it to Amazon for over $1 Billion five years later.)