Husband and wife team Chelsea Giles and John Giles pitched their smart, viral product DomeDock on Shark Tank Season 16. DomeDock is a smart hat storage rack designed to help people keep their caps organized without losing their shape.
To launch the product, they ran a Kickstarter crowdfunding campaign on September 17, 2019, and successfully raised $11,845 in just 30 days. By 2020, they had shipped all the products to their customers.
This hat storage rack can hold up to 20 hats and is designed to be mounted on a wall, saving space while keeping hats in excellent condition. Currently, DomeDock is available for purchase on Amazon and Scheels’ online store for $24.99.
They initially asked the Sharks for $100,000 in exchange for 5% equity at a $2 million valuation. However, they secured a deal with Kevin O’Leary for $100,000 in exchange for 15% equity, bringing the valuation down to $666,000. As for the latest update, their product is currently the best seller in Amazon’s Hat Racks category.
| Company Name | DomeDock | |
| Founder | Chelsea Giles and John Giles | |
| Founded | 2018 | |
| Product | Hat storage rack | |
| Asked For | $100K for 5% equity | |
| Final Deal | $100K for 15% equity | |
| Sharks | Kevin O’Leary | |
| Episode (Shark Tank USA) | S16 E13 | |
| Air Date | March 14th, 2025 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | Lubbock, Texas, USA | |
| Lifetime Worth (Sales) | $7.5 Million *estimated | |
| Valuation | $2 Million | |
Who Is The Founder Of DomeDock?
DomeDock was founded in 2018 by Chelsea Giles and John Giles as a family business. Chelsea earned her Bachelor of Science degree from Abilene Christian University. She now runs the business full-time alongside her husband, John.
How Was The Shark Tank Pitch Of DomeDock?
Chelsea and John asked the Sharks for $100,000 in exchange for 5% equity in their hat storage rack business. They demonstrated their product, and the Sharks were quite impressed with the idea. However, Kevin O’Leary was concerned about their $2 million valuation.
To justify the valuation, John revealed that since 2019, the company has achieved $7.5 million in lifetime sales. Their annual sales were as follows: $136,000 in 2019, $1 million in 2020 after launching their website, $1.4 million in 2021, $2.1 million in 2022, and $2.08 million in 2023. So far, in 2024, they have generated $185,000 in sales, with an expectation of reaching $1.5 million by the end of the year.
Explaining the dip in sales, John mentioned that counterfeit copies of their product had entered the market. However, they have a utility patent, which gives them legal protection.
Mark Cuban was interested in learning about the product’s cost. John shared that each rack costs $2.91 to make and is sold for $24.99. Additionally, after paying themselves a salary, their profit margin this year is 50%.
Chelsea outlined their future plans, stating that they aim to expand into retail. Their product is already listed in the Scheels retail chain, which they believe will help address the issue of counterfeit copies. However, Mark Cuban felt the business wasn’t big enough for investment and dropped out. Robert, Kevin, and Lori also declined to invest.
With their last hope resting on Daymond John, he made an offer of $100,000 for 25% equity. John countered with $100,000 for 10% equity, but Daymond responded with a counteroffer of 20% equity. At this point, Kevin jumped back in and offered $100,000 for 15% equity. After considering their options, Chelsea and John decided to accept Kevin’s offer.
Breakdown Sharks Offer
Note: Here’s a quick summary of the offers and counteroffers between the Sharks and Chelsea and John:
| Sharks | Offers |
| Kevin O’Leary | $100k for 15% equity |
| Daymond John | $100k for 25% equity |
| Mark Cuban | No Offer |
| Lori Greiner | No Offer |
| Robert Herjavec | No Offer |
| Founder’s (Countered) | $100k for 10% equity (Daymond) |
| Final Deals | $100k for 15% equity |
DomeDock Shark Tank Update
After securing a deal with Kevin for DomeDock, their initial goal was to eliminate counterfeit products from the market. They also focused on expanding into retail spaces to prevent further knockoff issues.
As of March 2025, DomeDock, the original USA-made hat rack, has become the No. 1 best-selling product in Amazon’s Hat Racks category.
What Is DomeDock Net Worth?
The company is experiencing growth both online and in retail. Although the last deal was made at a $$666k valuation, expectations are high that the company’s lifetime sales could double in the coming years. Currently, DomeDock’s estimated net worth is around $2.5 million.
