Zomm Update

Zomm on Shark Tank

List of all New Zomm Products for iPhone - Season 4 Update

The Zomm wireless leash for your iPhone hooks to your key chain and sounds off an alarm if you ever walk off and forget it. But that's only part of what this clever Blue tooth devise is capable of doing. The Zomm can also be used as a hands free speaker phone while you're driving or can also be set up to dial any number in case of an emergency.

The inventors of the Zomm, Henry and Laurie Penix from Tulsa, Oklahoma, came up with the name using the first letter of their kid's name. Starting with Zack, Olivia and Madison, with the additional M standing for Mom, completes the Zomm Brand name.

Henry Penix walked into the Shark Tank looking for a $2 million dollar investment in exchange for 10% equity stake in the Zomm Business. Starting negotiations with the Sharks putting a $20 million valuation on the company you best have some sales too back it up, and they did. In 2011 sales were $5 million, with 2012 sales on track to sell $7.2 million with $2 million in net profit.

The Penix's invested $4 million of their own money in the Zomm technology, with an additional $5 million coming from another Angel Investor. While already on track to clear $2 million for the year, why on earth would Henry want to sell a 10% stake in the company and bring in additional partners? That's a great question the Sharks were finally able to answer when it was revealed he was sitting on over $2 million in inventory left over from the Christmas season.

Earlier that year the Zomm won 3 awards from the International Consumer Electronics Show in the Personal Electronics, Health & Wellness and Wireless Handset categories which certainly added to its credibility. What didn't make any sense was the valuation of $30 million when the first investor put in $5 million, and now on the shark Tank Show the valuation was lowered to $20 million which had all the Sharks questioning how solid this investment would be.

Daymond John asks how much research and development has been put into this wireless leash for iPhones? Henry says they have put over a million dollars to develop the product. Mark Cuban seems convinced this company has grown too fast which has him going out without any offer. With a $10 million lower valuation from the past, Robert Herjevic gets he feeling the Business might not succeed and he also goes out as well.

Lori Greiner really likes the Zomm technology and thinks it would be a big hit on QVC, but these numbers are not adding up and senses there is more to the story than whats being told. She also proceeds to go out with the remaining Sharks leaving Henry with no deal on the Shark Tank Show.

Zomm Update After The Shark Tank

 The bad news is Henry and Laurie had $2 million worth of inventory during their Shark Tank appearance. The good news is they got completely overwhelmed with new fans and orders after being featured on the Show as the Shark Tank Effect took hold. With beefed up servers already expecting a flood of new traffic, the Zomm site was still not able to keep up with all the interest.

This business may of had the highest valuation of any company ever featured on the Shark Tank, but did the Sharks make a mistake and let a true whale get away? It appears that might be the case because the Zomm Business seems to be flourishing with even more new products added to its impressive line up.

With the Wireless Leash, ZOMM Wireless Leash, a handy Safe Driving Kit for your phone and the brand new Lifestyle Connect using the same technology, this company has made tremendous strides within the last year.

With the huge success this business had before the Shark Tank, and now the tremendous growth within the past year, the Zomm Brand has a very good chance at becoming one of the most successful businesses ever featured on the Shark Tank Show.

List of all New Zomm Products


  1. Rather than dumping on the Sharks for missing the boat and underrating the company, you have to understand the "Shark Tank Effect". Even the losers on the show are getting millions of dollars worth of free publicity -- time after time companies have done amazing sales. Of course, it's even better than paying a million for advertising. That isn't by any means a vindication of how these people runs their companies, but rather it's a testimony of how massive publicity via the Shark Tank can bail a bad businessman out of the hole that he dug himself into.

    1. That's a stupid comment. Rarely is anyone making "millions" from simply being featured on the show- Very few do. Even less likely is being able to profit from their venture after the initial "wave" of new publicity.

      In the long run, good companies are good companies. Period. Bad companies are bad companies. Period.

  2. Problematic that the website is an epic fail

  3. How is he a bad businessman for one business not doing well? Especially when he and his wife had a successful business that they sold?

  4. There is NO DATE on this article. Today, Aug. 23, 2017 there is nothing on the internet recent about this company. The product has BAD REVIEWS on Amazon, rated at 3 stars. I went to look at their website and it DOES NOT EXIST. There never was the new product called lifestyle connect. A big factor I think is that these products were only for iPhones and not Android. Henry is a big fail. He could not answer how much was spent on development! That is ABSURD. He was hiding something. It was like pulling teeth to get him to admit that it was over one million. I have invented and had designed a number of electronic products, along with software. None of them took more than 100k. Now, if you need to design a custom chip and fab for it, then, it could get to a million. In any case, something was very fishy about his presentation. Now 5 years later, it looks like $9 in capital plus whatever they put back into the company from sales, is down the drain. It looks like they had $2 million of DEFECTIVE inventory. If it was not defective, they could have stayed in business just selling that and making six figures a year until they could raise more capital. Apparently whatever investor interest they had fell through. I myself use the TILE blue tooth devices, and sell various types of mounting kits for them, along with 100 other products, many of which I manufacture.


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