The piece of scrap metal used as a back piece became a powerful neodymium magnet. Rick also outsourced the manufacturing to help scale the business. also read: Alexiou Gibsons Net Worth in 2023 Shark Tank Sea Moss Gel Founders Success Story, 2023 Geeksaroundglobe Powered by | All Rights Reserved. After the show, ReadeREST received a Shark Tank bump and sold out within five minutes on QVC. Rick Hopper was asking for $150,000 for 15% equity of his business. To keep Daymond on board, Rick had offered greater equity, so he was willing to budge, but giving up a controlling interest in the company was hard for him to stomach. Readerest says it's made $13 million in revenue in the three years following the "Shark Tank" appearance. We cant wait to see the future for ReadeREST and its continued success. ReadeREST - Overview, News & Competitors | ZoomInfo.com On a side note, they also have a wholesale and distributor section on their website for large orders. The company has also signed their own spokesperson, country star John Rich, from the duo Big & Rich. 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. "ReadeREST" Net Worth 2023 Update (Before & After Shark Tank) 3 . Rick was seeking $150K for a 15% share in the business. 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. -SPONSORED- Well, it can get ugly in the Shark Tank. Supervisor or Pro Sales Trainer at the Home Depot and Founder of TrimQuick. Net Worth of Readerest. Lori Greiner made a deal with Hopper and promised to make him a millionaire. Currently, all of the products are sold out on their website. 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. Im Aidan Lehane, and about 5 years ago I quit the rat race and set out on a mission to create passive income online. . Growing up, he didn't receive any formal education, but he loved to tinker with different things in his home. Top Competitors of ReadeREST. ReadeREST - What Happened After $150k Lori Greiner Shark Tank Deal Still, its striking how the smallest negotiating tactics in the tank can make a difference of millions. ReadeREST Net Worth 2021 - What Happened After Shark Tank Interview with Inventor Rick Hopper Creator of ReadeREST for Reading And new ReadeREST designs feature flowers, hearts and wings, Swarovski crystals, and pairs of sunglasses. As of 2023, Readerest is still going strong. You simply attach one side to the inside of your shirt, and the other on the outside. 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 Some have also found that the paint chips easily. ReadeREST is a magnetic eyeglass clip that can be attached to clothing, invented by Rick Hopper. The product is still on the market and has maintained an estimated net worth of around $2.5 million. Luckily, it had never taken off, and the original patent holder was willing to sell it for five thousand dollars. As he is known to do, Daymond put Rick on the spot. On the show, the founder made a deal with Lori Greiner. View Rick Hopper's business profile as Founder at ReadeREST. 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. Although Rick did develop the ReadeREST around 2007, his patent search turned up an independent invention of a similar product in 2002. ReadeREST makes around $5 million in annual revenue according to Sharktankblog.com. Updates on Shark Tank may be found at ReadeREST What is Readerest and Who is the Founder of Readerest? Within the first year after Shark Tank, Nick Harper, and Lori Greiner had managed to sell 65,000 units almost immediately. In 2001, he left Home Depot to start his first business, TrimQuick, a vinyl trim provider for window companies. 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 reading glasses are loaded with technology to provide the ultimate protection and comfort for your eyes. Yes, Rick Hopper made a deal with Lori Greiner for $150,000 in exchange for 65% ownership. He then came up with the idea of using paperclips and magnets to solve the problem of keeping his glasses safe and secure. Along with sales, having a proprietary and differentiated product is one of the keys to success in the tank. The entrepreneur, Rick Hopper, asked for $150,000 in exchange for 15% equity. Many have also commented that its well-designed; the magnets are super strong and the backing is sturdy. It took nine months of pleading before he decided to take the plunge. 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? 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. Over $100,000 worth was sold in the first 5 minutes . In this article, well take a closer look at the quick facts you need to know about Rick Hopper and his journey to building a $5 million empire of ReadRest. ReadeREST is one of Shark Tanks biggest success stories. If you would like to change your settings or withdraw consent at any time, the link to do so is in our privacy policy accessible from our home page.. Rick Hopper email address & phone number | ReadeREST - RocketReach My hobbies are competitive gaming, discussing music, and self-deprecating humor. 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. Some of their bestsellers include the Stainless Steel, Stainless Steel + Swarovski Crystal, Stainless Steel + Swarovski Pearls, Black + Swarovski Crystals, and White + Swarovski Crystals. She put the product on QVC, and it sold out in five minutes. 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. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. Still, what if she was just the partner he was looking for? Despite no deal being solidified with Lori Greiner during the due diligence process after the show, he continues to sell regularly, and successfully, on QVC. The product worked perfectly for what it was: he never lost or dropped his glasses again. Disney ABC Television Group / Getty-Images Honorary shark for the day Richard Branson, who has an impressive $5.1 billion net worth as of 2018, expressed his excitement to be included on the show by saying, "I've never been interested in making lots of money - I like creating things. An example of data being processed may be a unique identifier stored in a cookie. 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