Mechanical Engineer, Patrick Whaley, developed a weighted shirt system while studying at Georgia Tech. Not only can it help with recovery after a workout but he claims it can also improve one’s endurance and speed. Will the sharks offer Patrick a deal on
Shark Tank Titin Update
- Entrepreneurs: Patrick Whaley
- Business: Weighted workout shirts
- Ask: $500,000 for 5% equity
- Result: $500,000 for 20% equity
- Sharks: Daymond John
Patrick opened up his presentation dressed in business wear, before ripping off his shirt to reveal his Titin weighted work out shirt. He explained that the shirt was designed around the human anatomy. Because the gel that weighed down the vest is the same density as muscle tissue, he claimed it caused the wearer to feel lighter.
In the month before filming, Patrick’s sales broke almost $1 million, and he had $600,000 in sales the previous year. These numbers were certainly intriguing for the sharks, but they weren’t convinced about Titin just yet. Most of the sales had come directly from online retailers, but Patrick told the sharks that he had hopes of getting into physical retail stores in the near future.
With low manufacturing costs and the ability to sell the complete kit for $250, Titin’s margins were admittedly impressive. Some of the sharks also were impressed to hear that Patrick estimated that he would cross the $10 million milestone by the end of the current calendar year at the time of the company pitch.
Mark Cuban however, simply didn’t believe that Patrick was describing his product or company truthfully, so he dropped out after some back and forth with the entrepreneur. Robert Herjavec then stated that Patrick had been unclear in his presentation, therefore Robert didn’t know if he could trust him. Lori Greiner went out next because she wasn’t interested in the product.
Kevin O’Leary made a dig at Patrick’s attitude before offering him $500,000 for 15% equity. Daymond John was also interested and offered $500,000 for 20% equity. After taking a lengthy amount of time to think about his decision, Patrick ultimately accepted Daymond’s offer. What happened next for this company? Keep reading our Titin update to find out!
Unfortunately we have bad news to share. Research for our Titin update revealed that the company is no longer in business. All of their social media accounts and website pages have been abandoned or deactivated. This will be our final Titin update.
If you’d like to find out more about the other companies appearing in Season 6 Episode 7, follow the links below for the episode’s other company update.
For even more on companies and products, stop by our Season 6 Products Page!