Titin Tech, a technology company that specializes in creating wearable tech garments, made a splash on the popular reality TV show Shark Tank in 2015. The company's founder, Patrick Whaley, appeared on the show seeking an investment of $500,000 in exchange for 10% equity. In this article, we'll take a closer look at what happened next for Titin Tech after their Shark Tank appearance.
The Pitch
Patrick Whaley, a passionate entrepreneur, presented his innovative wearable tech garments to the Sharks. His product, called "Titin," was a line of shirts and shorts designed to help athletes and fitness enthusiasts improve their performance and recovery. The garments contained micro-encapsulated, phase-change materials that helped regulate body temperature, reducing sweat and discomfort.
Whaley's pitch was confident and convincing, and he demonstrated the benefits of his product through various tests and testimonials. He explained that his company had already generated $1 million in sales and had a strong online presence.
The Deal
After a heated negotiation, Whaley accepted an offer from Robert Herjavec and Lori Greiner, who invested $500,000 in Titin Tech in exchange for 12% equity. The deal was a crucial milestone for the company, as it provided the necessary funding to scale production and expand its marketing efforts.
Post-Shark Tank Update
After the Shark Tank appearance, Titin Tech experienced a significant surge in sales and publicity. The company's website traffic increased by over 500%, and sales grew by 200% within the first few months. Whaley attributed this success to the exposure and credibility that came with appearing on the show.
Titin Tech continued to innovate and expand its product line, introducing new garments and accessories that incorporated its proprietary technology. The company also partnered with various athletes, teams, and organizations to promote its products and build brand awareness.
Challenges and Lessons Learned
Despite the initial success, Titin Tech faced several challenges in the years following the Shark Tank appearance. Whaley acknowledged that the company struggled to maintain its momentum, citing difficulties in managing growth and scaling production.
In an interview, Whaley shared some valuable lessons he learned from his experience on Shark Tank and in building his business:
- "Be prepared for the unexpected. Things don't always go as planned, and you need to be able to adapt quickly."
- "Focus on building a strong team. You can't do it alone, and having the right people in place can make all the difference."
- "Don't be afraid to take risks. Sometimes you need to step outside your comfort zone to achieve your goals."
Current Status
Today, Titin Tech continues to operate and innovate in the wearable tech industry. Although the company's growth has slowed since its initial surge, it remains a reputable brand with a loyal customer base.
Whaley has stated that he is proud of what his company has accomplished and is committed to continuing to push the boundaries of wearable technology.
Conclusion
Titin Tech's Shark Tank appearance was a pivotal moment in the company's history, providing the necessary funding and exposure to take its innovative products to the next level. While the company has faced challenges and setbacks, it remains a testament to the power of determination and innovation.
As Whaley looks to the future, he is focused on continuing to drive growth and innovation in the wearable tech industry.
What is Titin Tech?
+Titin Tech is a technology company that specializes in creating wearable tech garments.
Who is the founder of Titin Tech?
+The founder of Titin Tech is Patrick Whaley.
What happened to Titin Tech after Shark Tank?
+After Shark Tank, Titin Tech experienced a significant surge in sales and publicity. The company continued to innovate and expand its product line, partnering with various athletes, teams, and organizations to promote its products and build brand awareness.