“LUCIDArt” got featured on Shark Tank USA in 2022 April. It was founded by Les Cookson.
LUCIDArt Net Worth in 2022
Here is an update on LUCIDArt’s net worth so far.
|LUCIDArt’s Net worth before appearing on Shark Tank||2 Million USD (business valuation)|
|LUCIDArt’s Current Net worth (2022)||3 Million USD|
LUCIDArt’s founder Les Cookson has a net worth of 2.8 Million USD as of 2022.
No matter how old you are you like to draw. Also if you are already a drawing artist maybe you want to improve your drawings you should know about LUCIDArt.
What is LUCIDArt?
Its drawing tool is also known as Lucy Drawing Tool, a modern-day camera Lucidia. It’s an instrument made with an optical device with a reflection effect. So users can take any picture reflection on paper or a canvas. LUCIDArt made you’re drawing a realistic masterpiece. The device does not require electricity or computer knowledge.
find out more here in their youtube channel.
Who is the owner of the LUCIDArt?
Les Cookson is the founder and the owner of the LUCIDArt. He started this company in 2005. Also, He appeared on the Shark Tank previously with a different brand called Carsik Bib, Its m making barf bags for babies. The company is located in California USA.
What happened at the Shark Tank?
Les Cookson entered the Shark Tank hoping 300k for 10% of the equity of his company. Mark Cuban, Kevin O’Leary, Lori Greiner, Daymond John, and Robert Herjavec were the Sharks on the show. Not only that all the sharks were impressed after Listening to his profits.
However, Mark Cuban decided to get out of the deal as he was not interested in the product. Herjavec followed him for the same reason. Both Lori and Kevin thought the product was cool at first. But they thought the company doesn’t need the support of sharks. So they decided to stay out of the deal.
Then Daymond John requested 20% of company equity $300,000.Then Les tries to counteroffer at 12% but Daymond offers 17.5%. However Les finally agreed to 15% equity as high as he goes and Daymond also agreed.
LUCIDArt Shark Tank UPDATE
Les Cookson appeared on Shark Tank in the hope to reduce the customer accusation cost in his business. First of all, he remembered his failed target in Shark Tank Season 2.
Then he invited Kevin O’Leary to try the product. He was amazed after seeing the results of his drawing. So all the Sharks appreciated his product. Les had earned around 10 million dollars in his lifetime sales and $3.7 million only from the sales in 2021.
However, all the others except Daymond John decided not to invest. So finally Les agreed with her deal with Daymond.
Also read: What happened to the Online Art courses “Sparketh“ after shark
What happens to LUCIDArts after the Shark Tank?
As usual, the company’s sales rises after the show officially aired. Also according to the reports, Les had made a few changes to the products after the show. It includes changes such as introducing the enlarging tool. Also, he reduced the price of the smaller version of the machine.
Not only that the company got orders from television and film production companies. They include Walt Disney, 20th Century Fox Paramount Pictures, and Warner Bros. The company is still in business and its popularity is still with them.
Competitors of LUCIDArt?
Few companies are emerging with products with similar functions. Let energy, HuiDao, and BIG IDEA DESIGN LLC are manufacturing products similar to LUCIDArt.