She enjoys laid back island living, crossword puzzles that aren't too hard, and gardening. For those who didn't watch the episode, Rick Hopper, the founder of ReadeREST secured a deal with investor Lori Greiner. Without offers on the table from Mark, Kevin, or Robert, Lori was his only lead, but he attempted to counter at forty-nine percent equity. Rick noticed that there was a demand for this kind of product. Im a little gun-shy in giving up total controlling interest in the company without a complete buyout option, with royalties he offered. $150,000 from Lori Greiner in exchange for a 65% equity split in ReadRest. Many have also commented that its well-designed; the magnets are super strong and the backing is sturdy. The magnetic eyeglass holder was a simple and ingenious solution to an age-old problem. Readers can purchase magnetic eyeglass holders directly from the companys website. For now, it's available in select retail stores and online at The ReadeREST product has evolved to include many different styles, making it a continual top seller for online stores and optometrist stores. Starting a business will cost money but not as much as one would think. The storage device, known as PlateTopper, is a plastic, storage container-meets-suction device that keeps itself fastened to a plate and makes storing leftovers more convenient. Like many other entrepreneurs, he had humble beginnings. As a result, its safe to say that the companys net worth has increased significantly since the Shark Tank pitch, which was valued at $1 million. Rick Hopper essentially handed the reins of ReadeRest over to Greiner when he agreed to a $150,000 investment in exchange for 65% of the company in Season 3, but it turned his little one-man. The great sales success can also be owed to the popularity of Greiner's QVC show. The company brings in $5 million annually. Kevin also made a swift exit, calling a million-dollar valuation for a little piece of metal insanity. Readerest. And new ReadeREST designs feature flowers, hearts and wings, Swarovski crystals, and pairs of sunglasses. ReadeREST makes around $5 million in annual revenue according to The product was pitched on Shark Tank in 2012 by entrepreneur Rick Hopper, who asked for $150,000 in exchange for 15% equity. The price is $29 for one pair of eyeglass holders. 2023 Geeksaroundglobe Powered by | All Rights Reserved. Now that's one heck of a return on investment! As of 2023, ReadeREST is worth $4 million. ReadeREST has expanded its offerings to include reading glasses. So you really need someone who will come in and take over and make this work for you. She made Rick an offer, although not the one he was hoping for. Ricks idea grew into a viable product, and he traveled along the west coast attending trade shows in search of a market for his paper clip, which eventually evolved into stainless steel. Rick was seeking one hundred fifty thousand dollars in exchange for fifteen percent of his company, a one million dollar valuation. Before Shark Tank ReadeREST and Rick Hopper, After Shark Tank Update: ReadeREST In 2023, Top Best Games like Truth or Dare In 2023, Roblox Hacks, Cheats, & Tips 2023 Updates, CertifiKid 2023 Update What Happened After Shark Tank, Beyond Sushi 2023 Update What Happened After Shark Tank, Lance Reddick, Known for John Wick and The Wire Roles, Dead at 60, Popular Paleo and Keto Diets Can Be Harming Your Heart, Eagle Who Adopted a Rock Is Now a Real Dad, Woman Shot Dead After Pulling Up In Wrong Driveway, Boys Born to Mothers with COVID-19 May Have Altered Brain Development. Ive been a long-time Shark Tank fan and love the show because Im an entrepreneur at heart. But when he wasnt using them, hed placed them in his collar, which always caused them to fall. The Sharks' first inquiry concerned whether Rick had obtained a patent on ReadeREST. People who saw it often asked what it was and how they could get it. 1968 S. Coast Hwy #675 Looking primarily for a controlling interest in the company, Lori would have been very likely to accept a counter-offer of sixty, fifty-five, or even fifty-one percent equity in the company, but by trying to low-ball her offer, Rick locked himself out of further negotiations. Rick was looking for $150k for a 15% interest in his company. Rick disliked the hassle of reading glasses, and his first prototype of a bent paper clip and magnets was a hit, keeping his glasses secure even after he injured his shoulder in a fall on an electric skateboard. We and our partners use cookies to Store and/or access information on a device. A few weeks later, he was given an update segment, which was included in season three. ReadeREST is a U.S.-based company that produces a magnetic eyeglass holder, also called ReadeREST. He expects to bring in up to $6 million in sales by the end of 2012. Some of our partners may process your data as a part of their legitimate business interest without asking for consent. Nelson, a South Carolina baker with a back-pocket full of old family recipes, had parlayed her skills into a popular mail-order cake business. She got it from Mark Cuban who was impressed with her business acumen and she accepted his deal of $100,000 for 25 per cent. This product is a brilliant idea for a target market that is made possible by the use of a neodymium magnet, which is a powerful magnet. ReadeREST Net Worth 2021 What Happened After Shark Tank, FFTOB Net Worth 2021 What Happened After Shark Tank, Mobcraft Net Worth 2021 What Happened After Shark Tank. by 2Paragraphs in Business Spotlight, Shark Tank | August 30, 2017. . The Sharks got hesitant when Rick stated he acquired the patent for $5,000 from the original owner. Not to be defeated, he hopped onto his feet and launched his pitch. "Why didn't I come up with that?" What Happened to Noshi Food Paints After Shark Tank? To help viewers of the show find out more information about the products and services that were on the show, John created Since the partnership, Nelson has been highlighted on QVC several times, as well as other daytime shows including "The Nate Berkus Show," "Anderson Cooper," and "The Today Show." It took nine months of pleading before he decided to take the plunge. var js, fjs = d.getElementsByTagName(s)[0]; Currently, theyre offering free shipping on all US orders over $20. Rick Hopper was raised in Anaheim, California, before moving to Fullerton. They both agreed that TV was a better place for the product than store shelves. Founded Date 2012 Founders Rick Hopper Operating Status Active Company Type For Profit Contact Email Phone Number +1-866-776-7787 Lists Featuring This Company Dallas/Fort Worth Metroplex Companies With Fewer Than 10 Employees 8,611 Number of Organizations $4.4B Total Funding Amount 755 Number of Investors Track Wonderful (aka: Kevin O'Leary) . Today, it brings in $5 million annually. I create things. It has a net worth of around 5 Million USD as of 2023. We and our partners use data for Personalised ads and content, ad and content measurement, audience insights and product development. also read: Alexiou Gibsons Net Worth in 2023 Shark Tank Sea Moss Gel Founders Success Story, 2023 Geeksaroundglobe Powered by | All Rights Reserved. How much does it cost to begin a business? However, they do go on sale every now and then. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Email: [emailprotected] They've since added five other products, including an all-purpose spice rub, and today their products can be found in more than 3,500 stores in U.S., Europe and Canada. Asking for $150,000 in exchange for a 15% equity share in the business, Rick presented ReadeREST as a $1 million valuation. Instead of focusing on his high potential sales that were prevented by the production bottleneck, he compared Ricks valuation of ReadeREST to the cost of the patent itself. As of 2023, Readerest is still going strong. Prices vary from $9.99 to $21.99. In 2012, ReadeREST was getting so many orders that Rick Hopper couldnt keep up. Yes, Readerest is still in business as of 2023. He piqued the interest of a number of sharks, who started a bidding war for the product and set a record for the length of time he spent on set - two hours - through the brow-mopping tension of negotiations. ReadeREST is a magnetic eyeglass holder that uses high-powered magnets to secure a simple eyeglass clip to just about any article of clothing, providing a secure, convenient place to hang eyeglasses without worrying about dropping or losing them. By 2015, ReadeREST brought in $13 million in sales.;; 1 904891XXXX; Rick Hopper Human Resources Director . Before appearing on Shark Tank, Rick Hopper, the inventor of ReadeREST, was making each holder by hand and had sold around $65K worth of product. It's superb versatility and infomercial-type pitch from Krause was a clincher for Lori Greiner who fought off Kevin O'Leary and Daymond John with a negotiated offer of $200,000 for 20 per cent. In the three years following the initial air date, they did $13 million in sales. Over $100,000 worth was sold in the first 5 minutes . Not only that but Lori was able to get the product on QVC, where they sold $100,000 worth within the first five minutes. Shes been around the block as a businesswoman with her own show on the home shopping network QVC, and she didnt see Rick as a natural salesman. The main competitor is another magnetic eyeglasses holder called Spexwear and Magneglasses. He even created a powerful neodymium magnet from leftover metal. Hoppers contribution to the world of business and venture capital is remarkable, and it is clear that he will continue to lead the way for many aspiring entrepreneurs in the future. As of today, Tower Paddle Boards are now available in 40+ countries. [ January 26, 2023 ] What was Babe Ruth's net worth at death? ReadeREST is a clever invention its a magnetic clip that holds eyeglasses when attached to a shirt. His little invention slowly became a real product and business. In the months since, the business duo has found distribution in over seven countries, while currently receiving some friendly promo assistance from country music star Danielle Peck. We're simply huge fans of the show. While Rick left the tank, everyone took stock. As a child, Rick enjoyed building monoliths using Lincoln Logs and Erector sets, which he continued into adulthood, starting a career in window paneling and creating furniture for his family in his free time. After his friends convinced him to watch Shark Tank, Rick decided to take the plunge and appeared on the show after nine months of coaxing. Rick launched into another round of Would you consider? with the only shark remaining, grasping for a few more points of equity, but to no avail. Since that time, the company has made significant strides in terms of sales, and this has led to an increase in the net worth of the company. By 2015, they had done over $13 million in sales. Customers can contact the company directly through their website or email. ReadeREST is a magnetic eyeglass holder that appeared on Shark Tank in Season 3, Episode 6. People are wondering what happened since then, if the ReadeREST product is still on the market and how it has maintained an estimated net worth of around $2.5 Million. The sharks were skeptical when founders Heath Hall and Brett Thompson stepped into the tank in 2009 with their BBQ sauce and tempted the sharks with the announcement that they had 10,000 units ready to go. The product made $65,000 after a test launch. Nevertheless, Lori Greiner wasnt afraid to make an offer. Rick Hopper, Founder of SpecSecure by ReadeREST KIRK: My Shark Tank Predictions start with Rick Hopper, Founder of ReadeREST, The company that manufacturers SpecSecure. However, his creative spirit was greater than his hardship. The company is still in business in 2021 and has maintained an estimated net worth of around $2.5 million. While still working on TrimQuick, Hopper already planned to start another business for his eyeglass problem. At best, I saw this as a knick-knack that was sold as gas stations. Unable to see the value that Lori did, he bowed out. Readers can purchase magnetic eyeglasses holders directly from the companys website. Within the first year after Shark Tank, Nick Harper, and Lori Greiner had managed to sell 65,000 units almost immediately. Readerest Net Worth During the Shark Tank pitch, Rick Hopper mentioned that his company, Readerest, was valued at $1 million. The Primetime exposure can lead to $1 million in sales within 48-hours of viewing. Do you see anything wrong with that? Rick countered with the idea that high volume of distribution on store shelves would mean six million dollars a year in profits, a real money maker for any shark willing to bite. In 2001, he left Home Depot to start his first business, TrimQuick, a vinyl trim provider for window companies. In 2011, the company launched a self-titled restaurant in Alexandria, Va. and presented at the 2012 World Business Forum. That hasn't hurt PlateTopper's phenomenal success. The only drawback is that some of the decorations (e.g. Lori took things in another direction. Required fields are marked *. Mostly, they marveled at the ability of one person to take a piece of metal with two magnets and net such a large investment. Nowadays, they offer more than 20 types of magnetic eyeglass holders. Readerest is a business selling magnetic eyeglass holders. ReadeRESTs founder, Rick Hopper, has a net worth of 1.75 Million USD as of 2023. Rick was seeking $150K for a 15% share in the business. Rick Hoppers net worth is 1.75 million USD as of 2023. The companys success is a testament to Ricks hard work and dedication to his craft, as well as Lori Greiners expertise in product development and marketing. ReadeREST is a massive winner for both Rick Hopper and Shark Tank's Lori Greiner. Wiki B Ruki (The Gazette) Age, No Makeup, Height, Tattoo. Zendaya's Sister Katianna Stoermer Coleman Wiki: A Chicano Rock! Tom Ford. Top Competitors of ReadeREST. The sharks were dumbfounded at his sudden development of business skills and jokingly speculated that they were being hustled. At least, now he can spend his time doing what he loves, building and inventing. An example of data being processed may be a unique identifier stored in a cookie. Amazingly, when it was all said and done, Tseng walked away without a deal. 1 . The product is still on the market and has maintained an estimated net worth of around $2.5 million. In addition, Readerest also introduced reading glasses, and the company generated an annual revenue of $5 million in 2021. Lori asked for a much larger equity than what was being offered. Loris partnership with Rick caused the company to grow significantly as she urged him to leave his garage and establish a manufacturing facility for Readerest. While Rick Hopper didnt get a pre-show segment on Shark Tank, he filled in the gaps in an August 2015 interview with Startup Dallas. Companies that sell online have fewer chances of being scammed as they can be held accountable by the customer if their product doesnt live up to the companys standard. How many times have you watched an episode of Shark Tank and pondered that question, while some guy in updated camouflage or a girl with a cat toilet pitches the practical applications of their products? pearls, crystals) tend to fall off after a while. Get 5 free searches. Blue Light Blocking Eyewear . She believes he needs someone like her to put it on display and TV is the perfect medium. The California native bent a paperclip into a certain shape and attached it to a magnet. In exchange for investment from Shark Tank, they will get their business launched and expand their prospects for further growth. Press Esc to cancel. Lori Greiner made a deal with Hopper, offering him $150,000 for 65% equity. He's been able to stock the shelves in 1000 Walmart locations as well as landing a placement on, after winning their American-Idol style contest called "Get On The Shelf". She immediately declined. Since appearing on Shark Tank, ReadeREST has experienced tremendous growth and success. Currently, ReadeREST offers four varieties of glasses holders: one in stainless. Readerest is a Product made to hold eyeglasses by a magnetic clip, It is one of the most successful products to come out of the hit TV show Shark Tank, and its founder is Rick Hopper. Finally, Rick Hopper and Lori Greiner agreed on $150,000 for a 65% ownership of the company. People are wondering what happened since then, if the ReadeREST product is still on the market and how it has maintained an estimated net worth of around $2.5 Million. One million against five thousand. The success of ReadeREST has freed Hopper up to focus on other ideas he plans to manufacture and market with the help of Greiner. Here's a quick recap before we dive into the Readerest Shark Tank update.. Shark Tank Pitch Recap: She knew the Readerest was a winner the minute Rick walked in. Customers can buy the product directly from the company website. 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He landed his first job at Home Depot as a department supervisor and pro sales trainer. It is currently in 1000s of retail outlets across the country, and Krause is now working with Greiner on new product lines including scrub blocks. We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to and affiliated sites. As of 2021, ReadeREST is still in business and has an estimated net worth of around $2.5 million. John has been a long-time Shark Tank fan. The venture was a success, and the rising entrepreneur sold it for a profit. What Happened To Readerest After Shark Tank? Aside from magnetic eyeglass holders, they also sell reading glasses, which are pretty affordable at $25 a pair. moments on the show with inventor Aaron Krause's bright happy-faced pitch for his product, Scrub Daddy. He appeared on 3 season, asking for $150,000 for 15% equity. ReadeREST has grossed $39 million in retail sales in just 7 years since airing on Shark Tank. About the Founder Rick Hopper was raised in Anaheim, California, before moving to Fullerton. Rick Hopper net worth is $14 Million Rick Hopper Wiki: Salary, Married, Wedding, Spouse, Family . From their beginnings on Shark Tank to their current status as a thriving business, they have proven that with the right idea and execution, anything is possible. Its regrettable, but its been established that hes not a salesman. Still, its striking how the smallest negotiating tactics in the tank can make a difference of millions. And who could forget another one of those "Why didn't I think of that?" Get Rick Hopper's email address (r***** and phone number (714-240-..) at RocketReach. Now, it can also be purchased on and Amazon, where it has a 4.6-star review rating.