The last entrepreneur to head into
Shark Tank Under the Weather Update
- Entrepreneur: Rick Pescovitz
- Business: A fully enclosed, portable, and lightweight tent
- Ask: $600,000 for 10% equity
- Result: $600,000 for 15% equity with added options
- Shark: Mark Cuban
There are certain products that look ridiculous but work well when used and marketed right. Under the Weather’s MyPod is a good example of that. These portable pods use steel wire and are resistant to water and wind but still allow for side-by-side seating. They’re effectively portable tents that anyone can put up and take down in a few minutes without any tools or help.
Robert Herjavec was the first to point out how ridiculous the product looked. But, at the same time, he agreed that the product could work. During a demonstration, Lori Greiner found it difficult to see out of the plastic. As Robert was joking about how funny Lori and Daymond John looked, Rick got the sharks to take him seriously. He pointed out that the company had done $2 million in sales over the last year.
The offers came flying in. Daymond offered him $600,000 for 20% with Kevin O’Leary matching Daymond’s offer. Robert then backed out because he thought that Rick didn’t need an investor. As for Mark Cuban, he undercut both Kevin and Daymond by offering $600,000 for 15% equity with the option to put in another $600,000 at 10% within the next 12 months.
Seeing that this was a much better offer than he initially asked for, Rick didn’t hesitate to strike a deal with Mark.
With that said, it’s time for our Under the Weather update.
As of 2021, Under the Weather is very much in business. Unfortunately, Rick and Mark’s deal never closed. However, Robert was right — Rick didn’t need the help. After getting exposure on
Ever the entrepreneur, Rick didn’t let the COVID-19 pandemic stop him. Despite seeing sales drop by as much as 70%, Rick developed another product. This time around, he started selling the Intubation Pod, which is effectively a way for health care workers to protect themselves while intubating patients. It’s now become one of the most sought-after items within the healthcare industry.
According to recent estimates, Under the Weather has an annual revenue of $5 million.
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