The founders of revolights were inspired to create this unique lighting system after Kent Frankovich was nearly killed while riding his bike home at night. He hit a pothole that was obscured in darkness and nearly fell off of his bike. This experience inspired him and Jim Houk to create a new lighting system for bicycles that attached to the wheels and used wireless LED technology. The company was named revolights and they launched two successful Kickstarter campaigns. They also received a number of investment offers from angel investors and eventually made their way onto Shark Tank in Season 5.
The product was revolutionary in that it was able to greatly increase the side visibility of cyclists during rides. It worked by having lights attached to the front and rear wheels of a bicycle. The front wheel would act as a headlight while the back wheel would work as a brake light. The system was a huge success and the company grew quickly. They were even able to secure utility patents for their design. They also received a substantial investment from Robert Herjavec on Shark Tank which increased their valuation significantly.
However, despite this massive increase in value the company was unable to keep up with demand. They ended up accepting a flood of orders without first making the necessary manufacturing deals or fulfilling all of the legal requirements. They finally had to close their doors in January of 2019 and sent a letter to their Kickstarter supporters explaining why they had to make the difficult decision to close.