Eye strain has become an all-too-common problem in the digital age. Even those people who don't work with a computer are using tablets, phones and other devices for hours every day. Gunnar Optiks designs and sells specialized glasses that add focus and block harmful blue light.
Joe Croft of Gunnar Optiks appeared on Shark Tank on February 11, 2018 (Season 9, Episode 22) seeking an investment of $750,000 in exchange for a 5 percent equity stake in his company. The company had impressive sales tallying $6.5 million last year and they were on track to sell $7.5 million for the current year. According to the company, GUNNAR is the only patented computer eyewear recommended by doctors to protect and enhance your vision.
The sharks liked the product realized that it solves a very real problem. Croft walked away with a deal with Lori Greiner. They agreed that Greiner would supply a $750,000 loan at 8 percent interest and receive a 5 percent equity stake in the company.
Gunnar glasses are sold in numerous styles including gaming cool glasses and professional chic designs. The lens technology is the same for both computer and gaming. They are designed with flat temples so they are more compatible with audio headsets.
SHARK TANK UPDATE
It's too soon to know whether the deal was finalized; many deals made on the show don't make it through the due diligence process, although Lori Greneir has a fairly good track record of finalizing deals when compared with some of the other Sharks.
Gunnar Optiks has a whopping 360,000 followers on Instagram and 170,000 followers on Facebook. The company is active with social media, making regular updates and postings. Its Twitter account has almost 147,000 followers and reflects the company's frequent events and contests.
Every indication at this time points to continued success for Gunnar Optiks.