Wylie Robinson wanted to solve the problem of finding a good outdoor blanket. That’s why he created an environmentally friendly option, that he says is not only earth friendly but efficient too. Will it earn him a deal on
Shark Tank Rumpl Update
- Entrepreneur: Wylie Robinson
- Business: Environmentally friendly blanket for the outdoors
- Ask: $600,000 for 4% equity
- Result: No deal
- Shark: None
Wylie entered Shark Tak Season 12 and pitched his company, Rumpl to the sharks. His products are designed for outdoor use, and are lightweight while also being incredibly warm.
The Original Puffy outdoor blanket is a packable, portable, warm blanket that you can take just about anywhere. With a ripstop shell and insulation made from 100% recycled materials, it’s a cozy experience that’s better for the planet, too. This blanket is machine washable too!
Further, Rumpl offsets 100% of its carbon footprint each year, and every blanket is made using 60 recycled plastic bottles. The resourcefulness of this concept, and its earth-friendly benefits impressed the sharks!
After taking some heat from the sharks for his high valuation, Wylie revealed that in 2020, Rumpl was on pace to have $8 million in sales. Each blanket costs $25 to make, wholesales for $50, and retails for $100.
Despite high sales, Rumpl is only operating at a 5-6% profit margin, meaning off of the $8 million, the company profits between $400,000 and $500,000. Things continued to get rocky in the tank when Wylie revealed that he has over $3 million in the bank from previous donor rounds, causing the sharks to question his motivations for coming onto the show.
However, he managed to defend his motives, sharing that he needed help with securing licensing deals in the sports industry.
This was enough to interest three sharks, who offered Wylie a handful of different deals. Blake Mycoskie, Kevin O’Leary, and Daymond John were all interested in investing in Rumpl.
At one point Blake and Daymond even teamed up, offering Wylie $600,000 as a loan at 10% equity, in exchange for 5% of all sales for 2 years and 10% equity. Alternatively, Kevin O’Leary offered Wylie $600,000 as a loan for a $10 royalty on every sale until he makes $1.8 million in return, plus 4% equity.
However, after everything was said and done, Rumpl left Season 12 without a deal. It turns out that Wylie wasn’t interested in a large royalty, and he was unwilling to give up so much equity in his company.
What happened after the tank? Did his company make it despite not getting a deal? Keep reading our Rumpl update to find out!
We have great news to share in our Rumpl update! The company is still in business and has grown to an estimated $8 million in annual revenue.
During our Rumpl update research, we found out that Wylie has expanded the product line to include towels and mats. Additionally, Rumpl has also expanded it’s retail presence and can now be found in Dick’s Sporting Goods, WalMart, Bass Pro, Cabela’s, REI, and more.
Oh, and Rumpl has also partnered with the NCAA to offer licensed products.
If you’d like to buy one, products are available on the Rumpl website, Amazon, and select retail stores.
For updates on the other products featured in Season 12 Episode 1, be sure to check the links below:
For more on companies and products, be sure to check out our Season 12 products page!
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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!