Finally Light Bulb

About Finally Light Bulb

Finally Light Bulb Company, operating as Lucidity Lights Inc., was established in 2012 by serial entrepreneur John Goscha. Goscha, a Babson College graduate with a background in Economics and Entrepreneurship, had previously founded the successful company IdeaPaint as an undergraduate. His entrepreneurial journey began in high school, where he started a business selling custom golf clubs. Motivated by the impending phase-out of traditional incandescent bulbs and his dissatisfaction with the quality of light from CFL and LED alternatives, Goscha embarked on creating a better, energy-efficient light bulb.

The company's core offering was an energy-efficient light bulb that utilized induction technology, a concept dating back to Nikola Tesla. Marketed as "Acandescent" technology, the product aimed to replicate the warm, familiar glow of an incandescent bulb while consuming significantly less energy. The technology works by using an electronic driver and a three-inch copper coil antenna to excite a mixture of argon gas and mercury vapor, which in turn creates ultraviolet light that excites a phosphor coating inside the glass to produce visible light. This approach miniaturized commercial induction lighting technology for residential use. The business model targeted consumers seeking an energy-saving bulb without compromising on the light quality they were accustomed to, a strategy aligned with federal mandates phasing out incandescent bulbs.

The company launched its first product in May 2014, backed by an initial $19 million in funding. It continued to attract investment, reporting a total of $38 million by July 2017 and growing to 32 employees. By March 2018, total funding had reached $93 million. The bulbs were sold through major retailers such as Staples, Ace Hardware, Amazon, Wayfair, and Walmart's online store. Despite its efforts to provide an alternative to LED and CFL bulbs, the company appears to be no longer in business.