He dove into 'Shark Tank,' emerged richer man Asking for $150,000 in exchange for a 15% equity share in the business, Rick presented ReadeREST as a $1 million valuation. THE INVENTOR -SPONSORED- For those who didn't watch the episode, Rick Hopper, the founder of ReadeREST secured a deal with investor Lori Greiner. The process involves placing an online order and paying for the product. In addition, Readerest also introduced reading glasses, and the company generated an annual revenue of $5 million in 2021. Blue Light Blocking Eyewear . It worked, so he took it everywhere he went. It has a net worth of around 5 Million USD as of 2023. The product is still on the market and has maintained its value over the years. According to Celebrity Net Worth, Greiner's estimated net worth at $150 million. Over the next three years, the company continued to grow, and it introduced new products such as reading glasses. The Sounds of East Los Angeles, best boy electric: insert unit - as Richard Hopper, TV Series rigging best boy electric - 1 episode. He loves the show because he's an entrepreneur at heart. They predicted sales of over $6 million after the product aired and sold out in just five minutes. Yes, Rick Hopper made a deal with Lori Greiner for $150,000 in exchange for 65% ownership. Rick Hopper's Readerest eyeglass holder, formerly called as Eyeglass Holders, has numerous rivals. 3 Readerest - $8 million One of the more memorable and enigmatic pitchers to the show, Rick Hopper tripped his way onto the set to demonstrate his product Readerest (formerly SpecSecure). 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. Lori was truly his last chance. What Happened to Readerest after Shark Tank? - Startupreneurship ReadeREST is a massive winner for both Rick Hopper and Shark Tank's Lori Greiner. Rick noticed that there was a demand for this kind of product. Today, it brings in $5 million annually. A sudden bout of cancer didn't slow Krumins down; she's since overcome the disease and has continued to build the brand of AVA with Corcoran's help, as well as developing more AVA products. If you want to know more about finding the perfect product for you, including our expert's tips and tricks, read this article . Readerest is a popular item on QVC and is often sold out. The success of ReadeREST has freed Hopper up to focus on other ideas he plans to manufacture and market with the help of Greiner. The product later became available in Ace Hardware, Walmart, and Bed Bath & Beyond. - Techie + Gamers, Shark Tank Scam: Americans Still Believe Weight Loss Scam. As of today, Tower Paddle Boards are now available in 40+ countries. This article originally appeared on Business Insider. ReadeREST | #1 Magnetic Eyeglass Holder - As Seen On Shark Tank - READEREST The deal with Lori was finalized shortly afterward. Size doesnt matter when it comes to successful products. ReadeRest Pitches The Sharks Rick was seeking $150K for a 15% share in the business. The piece of scrap metal used as a back piece became a powerful neodymium magnet. The product is still on the market and has maintained an estimated net worth of around $2.5 million. Rick Hopper invented the tiny but practical ReadeREST magnetic eyeglass clip which is one of the smallest items featured on Shark Tank. Mostly, they marveled at the ability of one person to take a piece of metal with two magnets and net such a large investment. js.src = "//forms.aweber.com/form/55/1545091855.js"; ReadeREST - Overview, News & Competitors | ZoomInfo.com The consent submitted will only be used for data processing originating from this website. Protect Your Eyes from Screens All of our Reading Glasses block blue light! 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. He said he would help Rick, but when everyone expected an offer, Mark backed out, saying there were better options. ReadeREST is a magnetic eyeglass clip that can be attached to clothing, invented by Rick Hopper. With all the other sharks out, Rick gladly (and wisely) acceptedGreiner's offer. 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. His little invention slowly became a real product and business. Readerest - Crunchbase Company Profile & Funding The paper clip became stainless steel. A doctor with an interest in food storage seemed an unlikely opener for this pitch from Michael Tseng in 2014. NonGamstopCasinos.net Not that it matters to the 8 million viewers tuning in every week to watch what happens in front of the cameras for the 0.4 % of applicants that actually make it through the audition rounds for a spot on air. The product worked perfectly for what it was: he never lost or dropped his glasses again. 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. Best Readerest Net Worth [April 2023] - JohnHarvards The great sales success can also be owed to the popularity of Greiner's QVC show. Perry appeared in the tank in 2012, and quickly won over Robert Herjavec, who offered $175,000 for 20 per cent. Rick was seeking one hundred fifty thousand dollars in exchange for fifteen percent of his company, a one million dollar valuation. Immediately after airing on the show, Costco called to inquire about stocking the companys products, while NASCAR teams approached the business about partnership opportunities, and Country singer George Strait requested that the company sponsor his upcoming concert tour. . Long-time viewers of the show will no doubt remember this adorable pitch by young mom Tiffany Krumins. casinomir, ReadeREST Net Worth 2023 Update (Before & After Shark Tank), Esso Watches Net Worth 2023 Update (Before & After Shark Tank), The Painted Pretzel Net Worth 2023 Update (Before & After Shark Tank), Sippline Drinking Shield Net Worth 2023 Update (Before & After Shark Tank India), How LED Grow Lights Help You Achieve Greener and Lusher Results Indoors. Rick came up with the idea after throwing away countless pairs of his own glasses due to small accidents. The Sharks got hesitant when Rick stated he acquired the patent for $5,000 from the original owner. About Rick Hopper Rick Hopper is the man behind ReadeREST. Single Ovens: Which Is Better? He's been able to stock the shelves in 1000 Walmart locations as well as landing a placement on walmart.com, after winning their American-Idol style contest called "Get On The Shelf". One of the smallest products featured on Shark Tank, ReadeREST inventor, Rick Harper, pitched the idea over 10 years ago. . 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 prac. However, most businesses require an investment in an idea and initial inventory. His solution was the first iteration of ReadeREST, a glasses holder combining a bent paper clip and a few magnets. Rick was still making them by hand when his friends begged him to look into Shark Tank. After much consideration, Hopper accepted a $150,000 investment from Lori Greiner in exchange for 65 percent equity. If anything, theyre highly rated by customers, with thousands of positive reviews. Now, it can also be purchased on ReadeREST.com and Amazon, where it has a 4.6-star review rating. ReadeREST SpecSecure: Shark Tank Update After the Show. 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. The product will be shipped to the customers address. However, they do go on sale every now and then. The 15 Most Successful 'Shark Tank' Products - Yahoo Finance An early patent search found a similar product, but the patent holder was willing to sell it to Rick for $5,000. ReadeREST Net Worth 2023 What Happened After Shark Tank? And they were right. Since the show aired, they now sell glasses and four varieties of glasses holders. If they would like to initiate a business and/or launch a new product, we would suggest undertaking it inside an incubator environment. Readerest believes in creating jobs in the United States and helping support the local economy. ReadeREST is a magnetic eyeglass holder that appeared on Shark Tank in Season 3, Episode 6. 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. She enjoys laid back island living, crossword puzzles that aren't too hard, and gardening. Earlier this year Hopper said that the company has made $8 million in total sales since appearing on "Shark Tank." . The venture was a success, and the rising entrepreneur sold it for a profit. The inventor of ReadeREST, Rick Hopper of Orange County, California, pitched his $1.4 million business on Shark Tank in 2012. ZipZ Wine: Shark Tank Update After the Show, Shark Tank Products (Complete List of Over 1300 Pitches), Common Questions the Shark Tank Judges Ask, Dapper Boi: Shark Tank Update After the Show, Play Maysie: Shark Tank Update After the Show, Tia Lupita Foods: Shark Tank Update After the Show, Honey Bunchies: Shark Tank Update After the Show. ReadeREST is a U.S. based company best known for a magnetic eyeglass holder, also called ReadeREST (pronounced Reader Rest) [1] History [ edit] After turning 40, founder Rick Hopper started using readers and began habitually losing, scratching and dropping his glasses. Tseng, an engineer by hobby, was working on the invention for years before entering the tank. Manage Settings This company was established in 2018 and started selling its product at the end of 2018. While sometimes the business tycoons in the comfy chairs (aka: the Sharks) take the bait, often times they will rip a newbie entrepreneur to bits, shredding ineffective sales pitches, marketing plans or crummy products to bloody lifeless pulps. Take it or leave it. At his breaking point, Rick did admit that even thirty-five percent of what could be a ten million dollar company is exciting. They believe sales will go over $6 million in 2012. Unfortunately, he ran out of inventory and needed an investment from the sharks to take ReadeREST into mass production. A few weeks later, he was given an update segment, which was included in season three. Rick Hoppers net worth is 1.75 million USD as of 2023. . Readerest currently has 25 employees and growing. ReadeREST Shark Tank Tale - Shark Tank Tales Readerest is a patented product made with "high-grade" magnets, stainless steel, and a cutting edge design, making it both strong and light-weight. She's also been able to diversify her portfolio of clients from big-box stores to specializing in corporate gifting with Fortune 500 companies across the country. Double Ovens vs. The entrepreneur, Rick Hopper, asked for $150,000 in exchange for 15% equity. An average Shark Tank appearance doubles or even triples a companys sales. Rick Hopper - Founder @ Readerest - Crunchbase Person Profile Person Rick Hopper Overview Number of Founded Organizations 1 CB Rank (Person) 283,037 Primary Job Title Founder Primary Organization Readerest Location Lewisville, Texas, United States Regions Dallas/Fort Worth Metroplex, Southern US Gender Male LinkedIn View on LinkedIn ReadeREST is a prime example of this, as it has continued to grow and expand since its appearance on the show. The founder, Rick Hopper, started using readers after turning 40 and began habitually losing, scratching, and dropping his glasses. Still, what if she was just the partner he was looking for? Hopper appeared on Shark Tank again to give an update on his business. Find contact's direct phone number, email address, work history, and more. Rick pitched ReadeREST as a $1 million value, asking for $150,000 in return for a 15% ownership stake in the company. 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. His first invention was a windsail to slow his skateboard down when going downhill. According to an update in 2023, the deal with Lori was finalized shortly afterward, and with her help, Hopper was able to secure a manufacturer for the product. ReadeREST Net Worth in 2023 - Updated! - Patty360 ReadeREST Shark Tank deal with Lori Greiner review - Kirk Taylor Ive been a long-time Shark Tank fan and love the show because Im an entrepreneur at heart. Founded Date 2012 Founders Rick Hopper Operating Status Active Company Type For Profit Contact Email info@readerest.com 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 Top Competitors of ReadeREST. Readerest customers are mostly eyeglass wearers who dont want to misplace or damage their eyeglasses while they are working out or running errands around the neighborhood. Readerest says it's made $13 million in revenue in the three years following the "Shark Tank" appearance. What Happened To Halloween Moments After Shark Tank? Woloo Net Worth 2023 Update (Before & After Shark Tank India), Alexiou Gibsons Net Worth in 2023 Shark Tank Sea Moss Gel Founders Success Story, Trey Browns Net Worth: Quick Facts about Spergos Owner, Grace and Manuel Rojass Net Worth: Quick Facts about Foam Party Hats Owner, Maneesh Sethis Net Worth: Quick Facts about Pavloks Owner, Natalie Holloway and Max Kislevitzs Net Worth: Quick Facts about Bala Bangless Owner, Window-and-door installer, Dept. Continue with Recommended Cookies. The sharks were dumbfounded at his sudden development of business skills and jokingly speculated that they were being hustled. Lori asked for a much larger equity than what was being offered. 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. For more details, visit this page. 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. She immediately declined. He expects to bring in up to $6 million in sales by the end of 2012. ReadeRest has made Rick Hopper a millionaire. ReadeREST got featured on Shark Tank America in February 2012. After the show, ReadeREST received a Shark Tank bump and sold out within five minutes on QVC. In exchange for her one hundred fifty thousand, she needed sixty-five percent of his company. Kevin also made a swift exit, calling a million-dollar valuation for a little piece of metal insanity. Get 5 free searches. Appearing on the show in 2012, Stephan Aarstol froze during his pitch. One of the smallest products featured on Shark Tank, ReadeREST inventor, Rick Harper, pitched the idea over 10 years ago. Rick also explained why he was seeking a Shark Tank partner to assist with manufacturing and distribution. As of September 2022, the company is making $5 million in revenue a year. Blessed with perfect vision for most of his life, as he got older, Rick didnt like dealing with the hassle of reading glasses. 2023 Readerest Shark Tank Update| Readerest after Shark Tank ReadeREST is one of Shark Tanks biggest success stories, with $1.4 million in sales within six months of appearing on the show. Shark Tank Episode 302 Predictions - Shark Tank Blog Hey, Im John Poole (JP), the founder and author of Shark Tank Success. But he pushed through his jitters and made his business sound enticing enough to lure Mark Cuban in at $150,000 for 30 per cent. Supervisor or Pro Sales Trainer at the Home Depot and Founder of TrimQuick. It was enough to solidify a deal with Mark Cuban, who seems to have a decent sense of humour. To date, Rick has sold over $1.4 million dollars worth of his Readerest. Woloo Net Worth 2023 Update (Before & After Shark Tank India), Swoveralls Net worth Update (Before & After Shark Tank), Tweek Labs Net Worth 2023 Update (Before & After Shark Tank India), Proxgy Net Worth 2023 Update (Before & After Shark Tank India), On2cook Net Worth 2023 Update (Before & After Shark Tank India). We're simply huge fans of the show. It's been featured on QVC a number of times, selling out in every instance, the first appearance taking less than six minutes to do so. However, companies that sell online and interact with customers only electronically may not need as much capital for inventory and equipment. Entrepreneur Rick Hopper appeared on the show in 2012 to pitch his company, which offers clip-on magnetic eyeglasses holders that can be attached to clothing. The entrepreneur made an entertaining introduction, stumbling onto the ground and explaining the struggles of constantly losing his glasses. The ReadeREST product has evolved to include many different styles, making it a continual top seller for online stores and optometrist stores.
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