ChessUp By Bright Labs Net Worth Shark Tank Update 2025

Learning chess can be tough, especially for beginners, and many parents find it challenging to teach their kids due to the lack of user-friendly chess sets that provide guidance. Traditional chess boards don’t offer help, and without visual aids or interactive elements, newcomers often lose interest fast. This was the challenge Jeff Wigh encountered while teaching his daughter the game.

Recognizing this gap, Jeff and his partner Adam Roush set out to create ChessUp, a smart chessboard that makes learning the game enjoyable for players of all levels. ChessUp incorporates AI technology to track players’ moves, give them lessons, and offer challenges at varying difficulties. Their aim was to make chess easier and more engaging for everyone.

In Shark Tank Season 14, Jeff and Adam sought $300,000 for 5% ownership of their company to help further develop ChessUp. They showcased the features of their smart chessboard, including its built-in chess engine, touch-sensitive pieces, and a companion app that enhances the learning experience.

Though some investors were cautious, Lori Greiner recognized the product’s potential and proposed a deal: she would provide the requested funding for 5% ownership plus a 3% royalty until the investment was repaid.

ChessUp By Bright Labs Net Worth Shark Tank Update 2025

Jeff and Adam were looking for an investment of $300k in exchange for 5% equity in the company. At the time of the episode, they valued their company at $6 million. Jeff and Adam successfully secured a deal with Lori for an investment of $300k for 5% equity plus a 3% royalty until $450k was repaid. The investment adjusted the company’s net worth to around $6 million. After the show was aired, the company experienced a good boost in exposure. As per my rough estimate, the current net worth of ChessUp in 2025 is around $2 million.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Barbara Corcoran	Out	N/A	N/A
Lori Greiner	$300,000 for 10% equity	$300,000 for 5% + 3% royalty on sales until $450k is paid	Yes
Kevin O’Leary	Out	N/A	N/A
Robert Herjavec	Out	N/A	N/A
Mark Cuban	Out	N/A	N/A

Jeff Wigh and Adam Roush Backstory + Their Initial Pitch 

Jeff Wigh and Adam Roush created the ChessUp smart chessboard after Jeff had a hard time teaching his daughter how to play chess. They found that regular chess sets didn’t have features that made learning easy. They wanted to develop a chessboard that could help beginners learn while still being fun for experienced players.

To make their idea a reality, they launched a fundraising campaign on Kickstarter, where they raised an impressive $1.7 million, showing that many people were interested in their product. However, they faced some financial difficulties. One of their early investors was set to receive a 3.93% share of their profits until they made back 1.5 times what they invested ($392,000). This created extra pressure on them as they worked to expand their business.

When they appeared on Shark Tank, they shared that the ChessUp board sells for $399 and costs them $120 to produce, allowing them a healthy profit margin of 70%. They had already generated $400,000 in sales that year and expected to reach $1.4 million by the end of the year. They were looking for investment to help them increase production and reach more customers.

Queries + Shark’s Responses, and Final Deal

Robert Herjavec: He asked about the sales the company had made ($400,000), but despite showing some interest, he did not make an investment offer.

Lori Greiner: She wanted to ensure that the founders were dedicated to the business. Jeff confirmed that they were fully committed and highlighted that they had over 20 patents for their products. Impressed by this, Lori offered to invest $300,000 in exchange for a 10% share of the business. The founders negotiated and proposed a deal instead: they would give her 5% of the company plus a 3% royalty until she recoups $450,000. Lori accepted this counteroffer.

Kevin O’Leary: He was interested in how the royalty system worked but found it too complicated, especially since a prior investor had a similar arrangement. As a result, he chose not to invest.

Barbara Corcoran & Mark Cuban: Barbara believed she wouldn’t be able to provide useful support to the business and decided not to invest. Mark Cuban thought that chess might not have a large enough market and also declined to invest.

Product Availability

ChessUp is a modern electronic chessboard that offers some cool features to enhance your chess experience. Here’s what makes it special. It has a Built-in chess engine, This means it can play chess against you at different skill levels, so whether you’re a beginner or more advanced, you can adjust how challenging the game is. The pieces on the board can sense when they are moved.

This allows the board to keep track of the game automatically, so you don’t have to write it down. There’s an accompanying app that provides lessons to improve your game, puzzles to solve, and even options to play with others online. You can compete against other players from anywhere, not just sitting across the table from each other.

After appearing on the TV show “Shark Tank,” ChessUp lowered its price from $399 to $299 to make it more appealing to customers. They also started selling some accessories to go with the chessboard, like carry bags, phone stands, and smart checker pieces. You can purchase ChessUp on their official website and through various online stores.

What Happened To The ChessUp By Bright Labs  Shark Tank?

After being featured on the TV show Shark Tank, ChessUp, a company that makes chess boards, experienced a significant increase in sales. Their products sold out very quickly, showing that many people wanted to buy them. However, the proposed partnership with investor Lori Greiner did not get finalized, and there has been no official announcement about it.

The company also received extra funding from a state program in Missouri, which helped them expand their production capabilities. With this support, they were able to create more products and enhance their marketing efforts.

As of today, ChessUp is still operating and is estimated to make about $1.4 million in sales each year. The company’s overall value is estimated to be between $1 million and $2.5 million.

Conclusion 

ChessUp is a chess-related business that appeared on the TV show *Shark Tank*. During their pitch, while some investors were unsure about how well the product would do in the market, one investor, Lori Greiner, saw its potential and decided to invest. Although the agreement they reached didn’t go through completely, being on the show helped ChessUp gain visibility, allowing them to grow.

After its appearance, ChessUp improved its offerings by creating more products, lowering its prices, and obtaining additional funding to support its business. Today, they are focused on making chess easier and more fun for players around the world. 

The company’s story began when a father had trouble teaching his daughter how to play chess, which inspired the development of their product. For people interested in chess, ChessUp is considered a great option for learning and playing in an interactive way. Their experience illustrates that innovative ideas can bring a fresh twist to traditional games.