In Season 11 of the popular TV show Shark Tank, Chris and Jeanie Rodgers pitched their innovative rope-dispensing product, Rapid Rope. Their unique invention caught the attention of the Sharks, ultimately leading to a successful deal with Barbara Corcoran. In this blog post, we’ll dive into the Rapid Rope Shark Tank journey, explore the product’s features, and uncover where the company stands today.
The Rapid Rope Pitch And Deal On Shark Tank
Chris and Jeanie Rodgers entered the Shark Tank seeking $200,000 for a 20% stake in their company, Rapid Rope. They demonstrated the strength and practicality of their product by showing a video of the rope lifting a shed. The entrepreneurs impressed the Sharks with their debt-free business, which had $172,000 in lifetime sales and a personal investment of $115,000.
Despite the impressive pitch, some Sharks had concerns. Lori Greiner, Kevin O’Leary, and Mark Cuban dropped out of the deal for various reasons. However, guest shark Rohan Oza showed his support by donating $10,000 to the couple’s charity efforts, although he did not invest in the company.
In the end, Barbara Corcoran made a deal with Chris and Jeanie, offering $200,000 for a 30% stake in Rapid Rope. Barbara’s decision was based on her belief in the couple and their product, making the investment from her heart.
Is Rapid Rope Still In Business?
Yes, Rapid Rope is still in business. According to rapid rope recent updates, Rapid Rope generates around $1 million in yearly revenue. Rapid Rope products are now available on their website, Amazon, and in Duluth Trading Company stores. The company offers various sizes of Rapid Rope and replacement rope cartridges to cater to different customer needs.
Net Worth Of Rapid Rope
While the exact net worth of Rapid Rope is not publicly disclosed, the company’s current yearly revenue of $1 million indicates a strong financial position. With Barbara Corcoran’s investment and the continued growth of the business, it is likely that the net worth of Rapid Rope has increased since their appearance on Shark Tank.
Overview Of Rapid Rope
Rapid Rope is a patented rope dispensing system that aims to revolutionize the way professionals and DIY enthusiasts handle and store ropes. The product consists of a durable canister that houses a cartridge filled with high-quality, heavy-duty rope. The canister features a wrap-around cutting system that allows users to easily dispense and cut the desired length of rope without the hassle of tangles or knots.
One of the standout features of Rapid Rope is the exceptional strength of its rope. The Rodgers demonstrated this during their Shark Tank pitch by showing a video of the rope lifting a shed, showcasing its impressive load-bearing capacity. This makes Rapid Rope suitable for a wide range of applications, from construction and landscaping to boating and camping.
Conclusion
Rapid Rope’s journey from a Shark Tank pitch to a thriving business is a testament to Rodgers’ dedication and the effectiveness of their innovative product. By securing a deal with Barbara Corcoran and leveraging the exposure gained from the show, Rapid Rope has experienced significant growth and expanded its reach.
With its patented design, heavy-duty rope, and convenient dispensing system, Rapid Rope has revolutionized rope management for professionals and DIY enthusiasts alike. As the company continues to grow and innovate, it’s clear that Rapid Rope is here to stay, offering a reliable and efficient solution for anyone in need of tangle-free, easily accessible rope.
