Rumpl Blanket is a company that makes cozy blankets. They started in 2013 and make blankets that are good for indoors and outdoors. Their blankets are made from strong materials that can keep you warm and dry. They even use recycled plastic bottles to make them eco-friendly.
Wylie designs the blankets in many cool styles and colors. They also work with artists to make special designs. They also help Native American artists by using their designs.
If you don’t like the designs they have, you can ask for a custom blanket with your design.
| Company Name | Rumpl Blanket |
| Founder | Wylie Robinson & Nick Polinko |
| Product | high-performance indoor and outdoor, weatherproof, durable, and cozy blankets |
| Asked For | $600,000 for 4% Equity |
| Final Deal | No Offer |
| Shark | No Shark |
| Episode (Shark Tank USA) | Season 12 Episode 1 |
| Air Date | October 16, 2020 |
| Business Status | In Business |
| Lifetime Sales | $10 Million *estimated |
Who Is The Founder Of Rumpl Blanket?
Wylie Robinson and his friend Nick Polinko are the co-founders of Rumpl Blanket. One day, they went on a trip to the mountains in their van, but it broke down. They were stuck in freezing temperatures without phone service.
To keep warm, they wrapped themselves in sleeping bags. Wylie realized that the sleeping bag was warmer than the blankets at home. When they got back, Wylie and Nick decided to make blankets like sleeping bags.
Wylie is a designer and studied at the University of Colorado Boulder. He has worked for companies like Stantec, MKTG, Landor, and Outpost Trade. In his free time, he enjoys mountain biking, climbing, camping, hiking, skiing, and surfing.
How Was The Shark Tank Pitch Of Rumpl Blanket?
Wylie Robinson, the founder of Rumpl Blanket, appeared on Shark Tank seeking $600,000 in exchange for a 6% stake in his company, valuing it at $15 million. He initially raised $250,000 through a Kickstarter campaign, although he didn’t need that much.
The cost of the blankets is $99, with a landing cost of $25, and they wholesale for $50, offering a good margin. Sales have grown steadily over the years, from $450,000 in 2014 to $6.5 million recently. Currently, there are 15 competitors in the market.
Rumpl has raised funds through two seed rounds and an A round, totaling $4.8 million. Wylie already has $3.5 million in the bank, prompting Mark Cuban to question why he’s seeking investment.
Wylie aims to expand into sports licensing, but Mark isn’t convinced and opts out. Kevin O’Leary and Daymond John both offer a $600,000 loan with interest and a percentage of sales. Blake Mycoskie and Daymond John also offer a loan with a royalty percentage and equity. Lori Greiner declines to invest.
In response, Wylie presents a counteroffer of a loan with a lower royalty percentage and equity.
Rumpl Blanket Shark Tank Update
The Shark Tank show was a big boost for him, leading to interviews on many news channels. As a result, his Instagram following has grown to 167k. Reports suggest the company made $8 million in revenue by July 2021.
Initially, they only made blankets, but now they also produce towels, mats, beds, pillowcases, and more.
What Is Rumpl Blanket’s Net Worth?
Rumpl Blanket’s estimated net worth is $25 million, based on the company’s lifetime sales and valuation.
This company donates 1% of the sales from each of its products to environmental causes. They have also hired many employees to manage the products. Currently, 11-50 employees are working for the company.
In 2019, they redesigned their core line of blankets using 100% post-consumer recycled materials. Every year, they use 2,980,979 plastic bottles in their products. The company has been featured in BuzzFeed, Wirecutter, Outside, Today, and Forbes.
