|SEASON 8 EPISODE 3|
|Pitch||270 degree coverage shoe lights.|
|Entrepreneur||Renata Storer and Doug Storer|
|Asked For||$250,000 for 10%|
|Deal||$250,000 for 15% + $100,000 loan|
What is Night Runner 270?
Night Runner 270 is a pair of rechargeable LED lights that you can clip onto a pair of running shoes to illuminate the path ahead when exercising at night. They are robust and waterproof and offer 150 lumens of brightness giving you 360-degree visibility. Giving you visibility of the path ahead but also making you visible to any motorists while running on the road.
Who Owns Night Runner 270?
Night Runner 270 is the brainchild of co-founders and husband and wife team Doug and Renata Storer. Doug was a careers salesman for construction/architecture firms, and Rene worked in interior design. The company now operates under the name Night Tech Gear and has scaled its product offering into night lighting for all sorts of outdoor pursuits. Both Doug and Renata remain on the expanded board and have since hired more support staff for various roles.
The idea for the company came about when Doug was training for a marathon in 2013. He was running at night to escape the Florida heat and tripped over a pothole, injuring himself in the process. After chatting with Rene, he decided to do a McGuyver job and duct tape head-torch flashlights to his training shoes, which soon proved impractical due to the weight.
After raising a considerable amount of money from family and friends, they approached a design company in Texas. However, the final result didn’t yield the expectation. Emboldened by the prototype concept, they raised a further $15,000 crowd-sourcing on Kickstarter after making a demo video. These extra funds allowed for the hiring of another design company in Orlando. And for production to start in China at a factory. In total, they managed to raise almost a quarter of a million USD to cover production and marketing, enabling them to sell online and to wholesalers.
It wasn’t until 2015 that their big break came, being hosted, on CBS Innovation Nation. After the publicity they received, they managed to clear 6000 units sold, giving them the confidence needed to start looking for more investors to get them into the black.
Night Runner 270 Shark Tank Update
Did Night Runner 270 Get a Deal on Shark Tank?
On Shark Tank Season 8 Episode 3, Renata Storer and Doug Storer accepted an offer of $250,000 for 15% + $100,000 loan, from Robert Herjavec.