Rootsuit Fan Wear Update | Season 4
Colin Grussberg created full body suits, that fans can wear to shows and games. Will he earn a deal on
Shark Tank Rootsuit Update
Entrepreneur: Colin Grussberg
Business: Stretchy bodysuit
Ask: $100,00 for 15% equity
Result: No deal
Shark: None
Colin, an entrepreneur and Yale-educated mechanical engineer, introduced his product, Rootsuit, as a way to show off fan pride. He said, at shows, a Rootsuit could get you on stage. At games, it could get you on the jumbotron. “At the bank, it could get you seven to ten,” joked Daymond John.
Kevin O’Leary asked if people could see while wearing a Rootsuit, since it covered the whole body including the wearer’s face. Colin confirmed that wearers could see, albeit with limited sight. Kevin asked if they had sales, and Colin said that they sold $525,000 the previous year.
Robert Herjavec was surprised. Kevin kept the pressure up, asking if any of the sales resulted in profit. Colin confirmed that $140,00 was profit. Robert and Lori Greiner were shocked.
Robert said his son and his son’s friends wore similar suits to nightclubs. He asked if that was Colin’s product. Colin said there were competitors on the market, but his company did it first. Mark Cuban asked if there was anything on the Rootsuit, perhaps even on the bottom of the foot, indicating it was an authentic Rootsuit and not an imitator. Colin said it was a good idea, but there was no way to distinguish between a Rootsuit and a competitor.
Robert said he thought that would be a major problem. Since Rootsuit offered no brand recognition, Robert felt it was best to go out. Colin said he had an answer to that point, but he didn’t have enough time to speak to that before Lori agreed with Robert. She felt the competition would be too much and, for that reason, she was out.
Colin was now stammering. He started explaining that many businesses had competitors, but survived nonetheless. Mid-sentence, he pointed at Daymond and clarified, “I’m talking to you now.” Because it was abrupt and strange, Daymond looked confused. Kevin said he preferred investing in “big things,” and he just couldn’t see Rootsuit becoming a $50 million phenomenon.
For this reason, he was out. Daymond, on the other hand, acknowledged that Colin was making money, but he felt he needed a good amount of equity to make the deal worthwhile for him. He offered $100,000, for 50% equity.
Colin responded that the offer was great and he loved it, but his energy and affect were flat and gave Daymond some doubt. Kevin asked “Mr. Cuban” if he had anything to add, since he was yet to make an offer or go out. Mark said he wanted to hear what Colin thought of Daymond’s offer.
Colin said he was excited, but wanted to think it over. Daymond accused Colin of not being excited, and imitated Colin’s monotone voice. Colin asked Mark if he wanted to join Daymond’s offer, saying “you should throw in $100,000, too!” Mark joked that then they would have 100% of the company, but Daymond was not amused, and said he was not interested in working with Mark.
Daymond, growing impatient, said that he was on the fence, and was starting to feel like he should take his offer off the table. Lori urged Colin to be decisive too, calling this a “defining moment” for him. However, it was too late. Daymond said that he did like Colin and the product, but he was out because he did not appreciate Colin’s indecision.
With Mark as the only shark left, he said that he found Colin smart, applauded all the things he was doing right, but said it would be crazy for Colin to take on a partner. Although he felt Colin had a “boatload of money” on his horizon, Mark passed and the pitch concluded.
Did Mark forecast the future correctly? Should Colin have taken Daymond’s offer? Keep reading our Rootsuit update to find out!
Rootsuit enjoyed some success following the episode airing, but it was short-lived. It’s unclear how well Colin and Rootsuit did during its run, but the business shuttered in 2016 and ceased operations. Today in 2023, they remain out of business. This will be our final Rootsuit update.
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Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!