Rekkie Shark Tank Episode 7 Update & Net Worth

Rekkie Shark Tank Episode 7 Update & Net Worth

Rekkie, a smart ski goggle company, made waves during its appearance on Shark Tank Season 15, Episode 7. Founded by the Pease brothers—Henry, David, Anderson, and Fletcher—Rekkie is revolutionizing the way skiers experience the slopes by providing real-time data and navigation features within their goggles.

These smart goggles not only display time, speed, and altitude but also include a compass and battery life status, making them an essential tool for skiing enthusiasts who want to explore the mountains safely and stay connected with their group.

The Rekkie team entered the Shark Tank seeking $300,000 for 10% equity, valuing their company at $3 million. After presenting their innovative product and explaining the potential market, they managed to secure a deal with Mark Cuban, who offered $300,000 for 12.5% equity.

This investment has been instrumental in helping Rekkie scale its production and expand its market presence. As of April 2024, Rekkie’s net worth is estimated at $1 million, a testament to the growing interest in smart technology within the outdoor sports industry.

What is Rekkie? How Does it Work?

Rekkie is a cutting-edge smart ski goggle that integrates advanced technology to enhance the skiing experience. These goggles are designed to display crucial information directly in the skier’s field of view, including time, speed, altitude, compass directions, and battery life status.

 By pairing the goggles with a smartphone via the REKKIE App, users can access all these features seamlessly while skiing.

The primary goal of Rekkie is to provide a solution to the common problem of losing track of friends or getting lost on the slopes. With Rekkie’s real-time navigation features, skiers can easily locate their group or request help in case of emergencies.

The goggles are designed to be user-friendly, ensuring that the data displayed does not obstruct the skier’s vision, allowing for a safer and more enjoyable experience.

• Save

Rekkie’s innovation lies in its ability to combine essential skiing metrics with the convenience of smartphone connectivity, all housed within a durable and stylish pair of ski goggles.

This product is especially beneficial for those who frequent large, complex ski resorts where staying connected with a group can be challenging.

Rekkie Shark Tank Episode 7 Season 15: What Happened at Shark Tank Pitch?

During their appearance on Shark Tank, the Pease brothers—Fletcher, Henry, and Anderson—walked into the tank seeking $300,000 for 10% equity in their business. The brothers explained the inspiration behind Rekkie, sharing the story of how Henry got separated from his group while skiing, which led to the idea of creating a smart goggle that could prevent such situations.

They highlighted the features of their product, including the ability to track speed, time, altitude, and direction, and the ease of staying connected with friends through the REKKIE App.

The founders also discussed the company’s financials, revealing that Rekkie had made $175,000 in sales by 2023, with all sales being direct-to-consumer.

They explained that the goggles cost $100 to manufacture and retail for $349, providing a substantial margin. However, they noted that their customer acquisition cost was relatively high at $120, but the average order value was $475, which helped offset this cost.

The pitch attracted interest from several Sharks, with Kevin O’Leary offering $300,000 for 20% equity along with a royalty structure. Mark Cuban, intrigued by the potential of the product in the tech and sports markets, offered $300,000 for 15% equity. After some negotiation, the Pease brothers successfully countered with 12.5% equity, and Mark Cuban accepted the deal.

Rekkie Shark Tank Pitch Summary

What Happened to Rekkie After Shark Tank?

After securing a deal with Mark Cuban on Shark Tank, Rekkie experienced a significant boost in both visibility and sales. The exposure from the show brought their innovative product to a broader audience, resulting in increased orders and positive feedback from customers who appreciated the blend of technology and practicality in the Rekkie smart ski goggles.

The investment from Mark Cuban has allowed Rekkie to scale its operations, improve its product, and explore new market opportunities. The co-founders have also expressed interest in expanding their technology into other areas, such as military applications, where real-time data and navigation tools are essential.

Rekkie’s presence in the media and on social platforms has grown, with many ski enthusiasts sharing their experiences and reviews of the product. The company is now focused on refining its technology and expanding its product line to cater to a wider range of outdoor sports enthusiasts.

How Much Is Rekkie Worth?

As of April 2024, Rekkie is valued at approximately $1 million. This valuation reflects the company’s successful entry into the smart technology market for outdoor sports and the potential for future growth. The Pease brothers have successfully turned a personal challenge into a business opportunity, creating a product that addresses a real need for skiers and outdoor adventurers.

Is Rekkie Still in Business?

Yes, Rekkie is still in business as of April 2024. The company continues to operate out of its headquarters in New York, New York, and is actively expanding its market reach. With the continued support of Mark Cuban, Rekkie is well-positioned to grow and innovate within the smart technology sector for outdoor sports.

 The company is also exploring new partnerships and product developments to enhance its offerings and reach more customers.

Which Episode & Season Number Was Rekkie Shark Tank?

Rekkie appeared on Shark Tank during Season 15, Episode 7, which aired on November 17, 2023. This episode was a significant milestone for the company, as it secured a crucial investment from Mark Cuban, helping the business scale and gain traction in the competitive market of smart outdoor gear.

Frequently Asked Questions

Who are the founders of Rekkie?
Rekkie was founded by the Pease brothers: Henry, David, Anderson, and Fletcher. Each brother brings unique skills to the business, ranging from mechanical engineering to software development, which has been crucial in developing and marketing the smart ski goggles.

What does Rekkie do?
Rekkie produces smart ski goggles that display time, speed, altitude, and compass directions directly on the lens. The goggles are paired with a smartphone app, providing real-time data and navigation features to enhance the skiing experience.

What was the final deal Rekkie received on Shark Tank?
Rekkie secured a deal with Mark Cuban, who invested $300,000 for 12.5% equity in the company during their appearance on Shark Tank.

How much is Rekkie worth?
As of April 2024, Rekkie’s net worth is estimated to be $1 million.

Is Rekkie still in business?
Yes, Rekkie is still in business and continues to operate and grow within the smart technology and outdoor sports market.

What episode of Shark Tank featured Rekkie?
Rekkie appeared on Shark Tank in Season 15, Episode 7, which originally aired on November 17, 2023.