Rekkie, the smart snow goggle company, made waves on Shark Tank Season 15. The Pease brothers – Henry, David, and Fletcher – pitched their innovative product to the sharks. Their goggles blend tech with winter sports, offering features like speed tracking and compass directions right in the user’s field of view.
Since appearing on the show, Rekkie has seen a big boost in sales and growth. The company caught the eye of Mark Cuban, who invested $300,000 for a 12.5% stake. This deal has helped Rekkie expand its reach and improve its products.
Rekkie’s success story goes beyond just smart goggles. The company has branched out into other outdoor gear, including a smart coat and eco-friendly hiking boots. These new items show Rekkie’s aim to change how people enjoy outdoor activities.
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Key Takeaways
- Rekkie secured a $300,000 deal with Mark Cuban on Shark Tank
- The company has expanded its product line beyond smart snow goggles
- Rekkie has seen increased sales and growth after its TV appearance
Rekkie’s Journey on Shark Tank
Rekkie’s journey on Shark Tank was a thrilling ride for the smart ski goggle company. The founders pitched their innovative product to the sharks, hoping to secure a deal that would take their business to new heights.
Pitching the Vision on Season 15 Episode 7
Henry and Fletcher Pease stepped into the Shark Tank during Season 15 Episode 7 to present Rekkie. They showcased their smart ski goggles, which display important information like time, speed, and compass direction. The sharks were impressed by the product’s features and design.
The founders explained how Rekkie enhances the skiing experience by providing real-time data to users. They highlighted the goggle’s ability to improve safety and performance on the slopes.
The Founders: Henry and Fletcher Pease
Henry and Fletcher Pease are brothers with a passion for skiing and technology. Their idea for Rekkie came after Henry had an incident while skiing. They saw an opportunity to create a product that would make skiing safer and more enjoyable.
The Pease brothers brought different skills to the table. Henry’s background in engineering and Fletcher’s business acumen made them a strong team. Their enthusiasm and knowledge of the ski industry shone through during their pitch.
Negotiating with the Sharks
The sharks showed interest in Rekkie, but they had questions about the company’s finances and growth potential. Mark Cuban was particularly intrigued by the technology behind the goggles.
Lori Greiner asked about manufacturing costs, while Kevin O’Leary wanted to know more about the sales projections. The founders answered confidently, demonstrating their deep understanding of their business and market.
Deal Evaluation and Outcome
After careful consideration, Mark Cuban made an offer of $300,000 for 12.5% equity in Rekkie. The founders initially asked for $300,000 for 10% equity, valuing their company at $3 million.
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The Pease brothers accepted Cuban’s offer, recognizing the value of his tech expertise and business connections. This deal valued Rekkie at $2.4 million, slightly lower than their initial ask but still a strong valuation.
The other sharks, including Daymond John and Barbara Corcoran, opted not to make offers but wished the company success. With Cuban’s investment, Rekkie gained not just funding but also a strategic partner to help grow their business.
About Rekkie Smart Snow Goggles
Rekkie Smart Snow Goggles blend cutting-edge technology with winter sports gear. These smart goggles aim to enhance safety and fun on the slopes.
Innovative Technology and Design
Rekkie’s smart snow goggles feature a heads-up display that shows key info right in the skier’s field of view. This display can show speed, time, and other useful data.
The goggles use state-of-the-art technology to provide clear vision in various lighting conditions. They have contrast-boosting lenses to help skiers see better in different weather.
Rekkie’s design includes anti-fog technology to keep vision clear. The goggles also have a long battery life, so they can last through a full day of skiing.
Enhancing the Skiing Experience
Rekkie smart goggles make skiing safer and more enjoyable. They help skiers stay aware of their surroundings and performance.
The heads-up display lets skiers check their speed without looking away from the slope. This feature can help prevent accidents and improve technique.
These goggles can also show navigation info, helping skiers find their way on unfamiliar slopes. This feature is especially useful for those exploring new ski areas.
Rekkie’s Product Range
Rekkie offers a variety of smart ski goggle options to suit different needs and preferences. Their product line includes models with various lens types and colors.
Some Rekkie goggles come with swappable lenses. This feature lets skiers change lenses based on weather conditions or personal preference.
Rekkie also sells accessories like extra lenses and protective cases. These add-ons help skiers customize and protect their smart goggles.
Market Presence and Business Growth
Rekkie has seen impressive growth since appearing on Shark Tank. The company has expanded its reach, formed new partnerships, and gained valuable customer insights to improve its products.
Sales and Distribution Channels
Rekkie’s sales have boomed after their Shark Tank appearance. The company saw a big increase in website traffic and sales. They now sell their smart snow goggles through multiple channels.
These include:
• Their own website
• Online retailers
• Specialty outdoor gear shops
• Some ski resorts
Rekkie has also grown its social media presence. This has helped them connect with more customers and boost brand awareness.
Strategic Partnerships and Expansions
Rekkie has formed smart partnerships to grow its business. They’ve teamed up with ski resorts to offer their goggles for rent. This lets more people try the product.
The company has also expanded its product line. They now offer:
• Different goggle styles
• Replacement lenses
• Accessories like cases and straps
Rekkie is focusing on innovation and sustainability. They’re always working on new features for their smart goggles.
Customer Feedback and Research
Rekkie values customer input. They regularly collect feedback to improve their products. Users praise the goggles for their clear vision and smart features.
The company does ongoing research to stay ahead in the market. They study:
• New tech trends
• Customer needs
• Sustainability practices
This research helps Rekkie create better products. It also guides their business choices.
Rekkie’s focus on customer needs has paid off. Their estimated net worth is now about $3.2 million, showing strong growth since Shark Tank.
Rekkie’s App and Technology Ecosystem
Rekkie’s smart snow goggles work with a companion app to give skiers and snowboarders helpful info on the slopes. The app connects to the goggles and shows things like speed, time, and directions.
Features and Capabilities of the Rekkie App
The Rekkie app has many cool features for snow sports fans. It shows how fast you’re going and how far you’ve traveled. The app also tells you the time and which way you’re facing.
Skiers can see messages and calls on their goggles through the app. This means they don’t have to take out their phone in the cold. The app works with Bluetooth to share data between your phone and goggles.
For safety, the app has a special radio feature. This lets users talk to others far away on the mountain. It’s great for staying in touch with friends or calling for help if needed.
Compatibility with Smart Snow Goggles
Rekkie’s app is made to work perfectly with their smart goggles. The two connect easily and share info back and forth. This means what you see in the goggles matches what’s on your phone.
The app can change settings on the goggles, like how bright the display is. It also updates the goggles’ software to add new features. Users can pick what info they want to see in their goggles using the app.
The system is smart about saving battery. It only sends data when needed, so both the phone and goggles last longer on the slopes.
Financials and Company Valuation
Rekkie’s appearance on Shark Tank led to a deal that changed their financial outlook. The company’s valuation and investment details shed light on their potential for growth.
Investment and Equity Details
Rekkie asked for $300,000 for 10% equity on Shark Tank. This initial offer valued the company at $3 million. Mark Cuban saw potential in the smart ski goggles and made a counter-offer.
The final deal was $300,000 for 12.5% equity. This new agreement valued Rekkie at $2.4 million. The founders accepted this offer, giving up a bit more equity than planned but securing a partnership with a well-known investor.
Cuban’s investment provides Rekkie with both funding and expertise. This boost could help the company expand its product line and reach more customers in the winter sports market.
Estimates on Revenue and Valuation
Rekkie’s exact revenue figures aren’t public. But their Shark Tank appearance likely boosted sales. Many companies see a spike in orders after being featured on the show.
The $2.4 million valuation from the deal gives a starting point for estimating Rekkie’s worth. As a young company, much of this value is based on future potential rather than current earnings.
Rekkie’s growth will depend on factors like:
• Market reception of their smart goggles
• Expansion into new product lines
• Success in marketing to skiers and snowboarders
With Cuban’s backing, Rekkie has a strong chance to increase its value in the coming years.
Product Development and Innovation
Rekkie has made big strides in improving their smart snow goggles. They’ve worked hard on research, manufacturing, and protecting their ideas. This has helped them create better products for skiers and snowboarders.
From Research to Manufacturing
Rekkie’s team spends lots of time testing new ideas. They talk to skiers and snowboarders to find out what they need. This helps them make goggles that really work on the slopes.
They’ve expanded their product range since appearing on Shark Tank. Now they offer more types of goggles for different activities. The company focuses on making their goggles tough and long-lasting.
Rekkie makes sure their goggles perform well in all kinds of weather. They use special materials that don’t fog up or break easily. This means skiers can see clearly no matter how cold or snowy it gets.
Patents and Intellectual Property
Rekkie knows their ideas are valuable. That’s why they’ve worked hard to protect them. They’ve filed for patents on their smart goggle technology.
These patents cover things like how the goggles connect to phones and show information. They also protect the special coatings that keep the lenses clear.
By getting patents, Rekkie makes sure other companies can’t copy their designs. This helps them stay ahead in the market. It also shows investors that their products are truly new and special.
Marketing and Consumer Outreach
Rekkie has focused on building a strong brand and connecting with winter sports enthusiasts. They’ve used digital marketing and community engagement to grow their customer base.
Branding and Online Presence
Rekkie has created a sleek, modern brand image that appeals to tech-savvy skiers and snowboarders. Their website showcases their smart goggles with clear product photos and videos. On social media, Rekkie shares action shots of their goggles in use on the slopes.
They’ve also partnered with ski resorts and gear shops to increase visibility. Rekkie’s online presence got a big boost after appearing on Shark Tank, with more people visiting their website and following their social accounts.
Engagement with Skiing and Snowboarding Communities
Rekkie has gotten involved with skiing and snowboarding groups to build trust and excitement for their product. They sponsor local events and competitions to meet potential customers face-to-face.
The company also works with professional athletes who use and promote Rekkie goggles. These partnerships help show how the goggles perform in real mountain conditions.
Online, Rekkie runs contests and shares user-generated content to keep their community engaged. They respond quickly to customer questions and feedback, creating a positive brand image among winter sports fans.
Looking Forward: Plans and Expectations
Rekkie has exciting plans for the future. The company aims to improve its products and reach more snow sports enthusiasts.
Upcoming Product Updates and Releases
Rekkie is working on a new model called the Rekkie Pro. This goggle will have even more features than the current version. It may include a longer battery life and a wider field of view.
The team is also updating the app. Users can expect new ways to track their runs and share stats with friends. Rekkie wants to make the app more social and fun to use.
They’re looking into adding voice control too. This would let skiers and snowboarders change settings without taking off their gloves.
Expanding Market and User Base
Rekkie plans to grow beyond just ski resorts. They want to reach more snowboarders and even mountain bikers.
The company is talking to ski schools about using Rekkie goggles for lessons. This could help new skiers learn faster and stay safe on the slopes.
Rekkie’s appearance on Shark Tank gave them a boost in sales. Now they want to keep that momentum going. They’re looking at selling in more stores and countries.
They also want to partner with pro athletes. This could help show off what Rekkie goggles can do in real action.
