Lite-Netics are magnetic light strands. The inventor of Lite-Netics, Shawn Genenbacher of Lovett, Texas, pitched his patented holiday decorating business on Shark Tank in December 2013. He went into the Tank seeking an investment of $125,000 in exchange for 20 percent equity. Genenbacher first received an offer from Kevin O’Leary: $125,000 to license out Lite-Netics and become 50/50 partners. Daymond John offered the same deal which provoked O’Leary to lower his 50 percent to 40 percent equity but, alas, Genenbacher does not accept and he walked out of the Tank without a deal.
Five holiday seasons later and Lite-Netics is still in business and continues to sell its light strands in 25 ft, 100 ft, 250 ft and 500 ft spools, and offer a 5% off SHARKTANK code online. And according to LinkedIn, Genenbacher has held on to his day job as an architect/project manager for Tigris, LLC. New episodes of Shark Tank air Sundays at 9 pm on ABC. [Related: 27 Favorite ‘Shark Tank’ Products at Amazon — New List]