TripleLite 180º Update | Shark Tank Season 16
One evening, Ronnie Pritchett was walking down the steps in his backyard and noticed his flashlight only lit up a small area, leaving the rest in darkness. This made it hard to see where he was going, and he almost tripped. To fix this problem, he created TripleLite, a flashlight that shines a wide 180-degree beam, making it easier to see everything around you and stay safe. Will the sharks invest in this business? Let’s find out in our TripleLite update and pitch recap.
If you’re short on time, here’s a quick overview of what happened to TripleLite after
Ronnie and Nancy entered
In terms of a TripleLite update, the company expanded its patented 180-degree wide-beam flashlight into retail stores, television segments, and online marketplaces.
| Shark | Result |
| Mark Cuban and Lori Greiner | Accepted offer of $400 for 25% equity |
| Kevin O’Leary | $400 for 49% equity |
| Daniel Lubetzky and Robert Herjavec | $400 for 20% equity |
Shark Tank TripleLite Pitch
- Entrepreneurs: Ronnie and Nancy Pritchett
- Business: A 180-degree flashlight
- Ask: $400,000 for 10% equity
- Result: $400 for 25% equity
- Sharks: Mark Cuban and Lori Greiner
Nancy and Ronnie opened their pitch with a creative demonstration that humorously highlighted the limitations of traditional flashlights.
They explained that the shark’s funds would help them grow the company globally and significantly expand its market presence.
Nancy described the TripleLite 180-degree flashlight as a patented product with three LED bulbs to provide wide illumination.
Its beam can also reach up to 160 feet, making it practical for indoor and outdoor use.
Guest shark Daniel Lubetzky asked about the flashlight’s production costs and wholesale and retail prices.
Ronnie responded that the flashlight costs $6.50 to manufacture, wholesales for $15, and retails for $29.95.
He added that the product is protected by five utility patents and a design patent. It has coverage across 27 countries, ensuring the technology remains exclusive to the brand.
The product launched in 2014, but Nancy explained that significant sales didn’t begin until 2020.
In their first year, they sold $100,000 worth of flashlights, followed by $310,000 in 2015.
Mark Cuban questioned the six-year gap between their patent and substantial sales.
Ronnie revealed that in 2016, they brought on an investor for financial support and mentorship, but the partnership quickly turned sour.
In 2018, the investor sued for control of the company. Despite the legal battle, Ronnie and Nancy regained full ownership by August of that year.
Since then, the business has generated more than $4 million in sales over the last four years.
In the year before filming, they sold $1,077,000. This year, they projected $1.5 million in sales, with an estimated profit of $318,000 before taxes.
However, Robert Herjavec was unsure why the flashlight hadn’t seen broader adoption despite its innovative design and exited the deal.
In response, Ronnie explained that larger flashlight companies had approached them with offers to license the technology, but they rejected the deals because the proposed royalties were too low to be worthwhile.
Lori Greiner asked if Ronnie had any prior experience as an inventor. Ronnie shared that he is a golf professional and had no background in inventing.
Nancy added that she stepped up to run the business despite having no formal training and took responsibility for production, marketing, and sales to ensure the company’s success.
Kevin O’Leary praised their presentation and acknowledged their hesitation to give up control. He offered $400,000 for 49% equity, promising to help them dominate retail distribution.
Daniel proposed $400,000 for 25% equity, emphasizing his ability to help them scale globally.
Lori and Mark partnered with a similar offer of $400,000 for 25% equity, focusing on retail and licensing opportunities.
Nancy and Ronnie countered, asking if the equity could be reduced to 20%. Daniel agreed to lower his offer to 20% if they accepted immediately and even suggested teaming up with Robert.
However, Lori and Mark refused to budge, maintaining that their 25% offer provided the best value.
Ultimately, Nancy and Ronnie chose Lori and Mark’s offer, leaving with a deal in hand.
To find out what happened next for their company, keep reading our TripleLite update.
Shark Tank TripleLite Update
Our TripleLite update found that the company received a significant boost in sales after airing.
Further, it seems likely that the deal with Mark and Lori went through, as the flashlights are now sold in ACE Hardware, The Home Depot, WalMart, and other retail stores.
Our TripleLite update also found that the product lineup now includes the TL1000 Aluminum Rechargeable flashlight, the HL530 LED Headlamp, and the TL050 Keychain light, catering to diverse customer needs.
You can see all the products on the TripleLite website.
Once the dust settles we will be back with another TripleLite update.
For more updates from the
Before you go, be sure to check out our list of all the Shark Tank Season 16 products.
Marvin Uzor
Marvin Uzor is a content contributor for Shark Tank Recap. He specializes in crafting engaging, well-researched content that delve into the latest Shark Tank stories, keeping readers hooked. He has a soft spot for his favorite Shark Tank companies, Bombas and Doorbot, known for their innovation and impact.