How it works: http://revolights.com/pages/howitworks

Buy it on their website for $229: http://revolights.com/products/revolights-city

Their TEDx talk on this safety revolution through better bike lighting:

They're from Emeryville:

http://www.mercurynews.com/business/ci_25296971/emeryville-startup-revolights-makes-pitch-shark-tank

Shark Tank Success explains:

Kent Frankovich, the original inventor of Revolights, did a TED Talk in Sacramento, California last September where he talked about Kickstarting a Bicycle Safety Revolution.

Unlike every other lights designed for bicycles on the market mounted to the handlebars, the Revolight's light shines in front of, and around your tires 360 degrees in all directions.

There's been several new products on the Shark Tank that first started out as a Crowd Funding project, and only a handful with two successful campaigns under their belt. To my knowledge no Shark Tank Contestant has successfully raised capital via the Crowd Funding route, and in particular from Kickstarter, three successful times in a row. Having already raised over $300,000.00 from supporters, Kent has wisely timed the third Kickstarter campaign to coincide with his appearance on the Shark Tank Show.

The fist Kickstarter campaign for Revolight ended September of 2011 that successfully raised over $215,000.00 from 1440 backers. The video describing this new Safety Light System for Bikes is worth watching if you "really" want to see how far the original design has evolved since then.

The second round of Crowd Funding for Revolight was successfully completed for almost another $100,000.00 ending in May of 2013. This is where they introduced the second generation of the Revolight System along with a limited edition bike design by the Mission Bicycle Company. 

Now in the midst of appearing on the Shark Tank Show, Revolight's is in the middle of their most ambitious Kickstarter funding project raising a minimum of another $100,000.00. With 47 more days remaining as of this writing, and over $25,000.00 already pledged, I would imagine after 7 million Shark Tank Fans see this very cool LED lighting system for bikes, the remainder $75,000.00 will be pledged in record time.

Mark Cuban called out Kent for asking for too low a valuation ($150k for 10%).

Kent ended up doing a deal with Robert Herjavec for $300k for 10%.