Highlights
- LoveSync, created by Ryan and Jennifer Cmich, is a device designed to facilitate intimate connections between couples by using light-up buttons.
- The founders sought $100,000 for 10% equity on Shark Tank but faced skepticism.
- Despite mixed public reactions, LoveSync has generated over $1.2 million in lifetime revenue as of July 2023.
Overview
| Category | Details |
|---|---|
| Name | LoveSync |
| Founders | Ryan and Jennifer Cmich |
| Industry | Relationship Products |
| Product | Light-up buttons for couples to indicate mutual interest in intimacy |
| Funding | $100,000 for 10% equity |
| Investment Ask | $100,000 |
| Equity Offered | 10% |
| Valuation | $1 million (based on investment ask) |
Ryan and Jennifer Cmich hope the Sharks fall in love with LoveSync, their device that promises to “light up your love life,” in Shark Tank episode 1112. The way it works is each member of a couple places a button on their nightstand. When they’re in the mood for some loving, they press their button. For a short time period, the button is active and, if the other partner is feeling randy and they press their button in that time period, both buttons light up with swirling lights indicating it’s time for some loving.
They got the company rolling with a successful Kickstarter that raised $21,600 in the Spring of 2019. The video became an instant viral hit. Unfortunately, LoveSync also faced a lot of online scorn. Stephen Colbert even highlighted it as one of his “worst Valentines Day Gifts.”
Despite the online flak, the Cmiches created the product to take the risk of getting rejected when you want to initiate sex. They claim they’re “just trying to introduce a fun little dynamic to relationships.” While the public reaction has been mixed at best, the Cmiches claim their LoveSync brought some anticipation back into their marriage. Whether it has staying power, or a Shark is interested, remains to be seen.
Company Information
Video
Posts about LoveSync on Shark Tank Blog
Love Sync – The Sex Button
LoveSync Shark Tank Recap
Ryan and Jennifer enter seeking $100,000 for 10% of their business. They begin the pitch explaining the product as a couple acts out a “typical” LoveSync scenario. Kevin is immediately skeptical and asks why the couple doesn’t just talk to each other. Then he says “look, I want some sex, you in or you out?”
Did Shark Tank Invest in LoveSync?
All the other Sharks have concerns with the complete lack of a business plan and failure to take criticism, prompting Daymond to Tweet: “#TakeawayFromTheTank: During a pitch you’ll always be faced with challenges to your idea, criticism, and questions. Make sure you can communicate clearly or else you’ll have a very hard time making the sale. #LoveSync #SharkTank.”
With no Sharks interested, the couple leaves with no deal.
LoveSync Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. In the two months since this episode aired, the Cmiches heavily hyped their Shark Tank appearance on their website and social media. The company is still in business and has happy customers. They did release the LoveSync app they discussed during their pitch and it has a 4.2 star rating in the app store. We’ll see if the business stands the test of time. As of July, 2023, lifetime revenue is over $1.2 million.
See what else is new! View other businesses featured in this episode.
