Brothers and entrepreneurs Fletcher, Henry, and David Pease pitched their snow goggles company during
If you’re short on time, here’s a quick overview of what happened to Rekkie after
Fletcher, Henry, and David Pease appeared on
|Mark Cuban||Accepted deal for $300,000 for 12.5% equity|
|Kevin O’Leary||$300,000 for 20% equity, plus a distribution of $0.20 for every dollar paid out as income|
|Barbara Corcoran||No offer|
|Lori Greiner||No offer|
|Daymond John||No offer|
Shark Tank Rekkie Update
- Entrepreneur: Fletcher, David & Henry Pease
- Business: Smart snow goggles
- Ask: $300,000 for 10% equity
- Result: $300,000 for 12.5% equity
- Shark: Mark Cuban
Brothers Fletcher, David, and Henry have been skiing together for years. Unfortunately, they often get split up on the slopes, which is exactly why they created their smart snow goggles company, Rekkie.
Their goggles aren’t only smart, but they also feature a transparent ‘heads-up’ display technology. The cool thing about the display is that it projects onto the lens, and appears to float out in front of your forehead.
You simply glance up, and the display appears. This allows the user to find their friends, and also to listen to music, check notifications, and even see which direction they’re heading.
They can also make and receive calls easily, and even see how fast they’re moving, all without having to remove their bulky snow gloves.
However, the display does not block one’s view. In fact, in terms of clarity, anti-fog, and contrast-boosting lenses, they’re using state-of-the-art technology.
For the avid snow sportsman, these goggles are game-changing, especially in terms of staying connected to your group, or multi-tasking as you head down the slopes.
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At this point in the pitch, the sharks are given goggles to check out, but Lori Greiner shares a concern. She doesn’t understand how if she’s skiing with another person, and they take off in a completely different direction, she would then be able to find them with the goggles.
Fletcher explains that you and your group would join their app, which has location tracking. Although, if you’re skiing somewhere with bad cell service, the goggles also feature long-range radio capability.
In terms of sales at the time of filming, they just launched late last year, and have so far done about $175,000 in sales. All of their sales are direct to consumers, and the product retails for $349.
Manufacturing is a bit pricey because each unit costs $130 to make. That said, they think they can eventually get that down to around $100 per unit.
Further, customer acquisition is around $120, but their average order is around $475.
Daymond John wants to know if they have any competitors. David says not really, and that nobody is doing what they are doing in goggles for action sports.
Barbara Corcoran is concerned about the price compared to other goggles. The brothers replied that good quality, basic snow goggles cost around $300.
Despite this, they ultimately believe that their goggles are the very best on the market, even without the display features.
Daymond asks about patents, but Fletcher says their patent regarding the display is still pending.
Additionally, they are fully self-funded, having invested $200,000 of their own money. They also received a $40,000 grant from a local company.
Lori thinks the brothers are amazing, and the product is great, however, she’s not into cold-weather sports. For this reason, she is out.
Kevin O’Leary offers $300,000 for 20% equity, with distributions of $0.20 for every dollar taken as income.
Barbara would have liked to see a feature on the display that shows precisely which run or lift your friends are on. Because the goggles don’t have this, she’s out.
Mark Cuban offers $300,000 for 15% equity in Rekkie. The brothers counter him for 12.5% equity, adding that they hope to expand their technology to law enforcement and military equipment.
Mark likes their idea and agrees to the deal. The Pease brothers leave with a shark and a deal, but what do you think happened following the show?
Keep reading our Rekkie update to find out!
Our Rekkie update reveals that the company has been doing well since appearing on
According to the Rekkie website, they also offer swappable lenses for their goggles, which allow you to play around with the look and color of the lenses.
The goggles have been featured by top cold-weather sports publications, and customers seem to be really happy with their purchases.
After the dust settles, we will circle back around for another Rekkie update.
In the meantime, you can check out our other company updates from Season 15 Episode 7, by following the links below.
For even more on companies and products, be sure to stop by our Season 15 Products Page before you go!
Jennifer is an avid Shark Tank fan that has been watching the show for years. She serves as Senior Editor at Shark Tank Recap and ensures that all our information is accurate and that our posts are up to date. Her favorite Shark Tank products are Le-Glue and Ring!