Rumpl Blanket is a company that produces cozy blankets suitable for both indoor and outdoor use. Founded in 2013, Rumpl uses durable materials designed to keep you warm and dry, and incorporates recycled plastic bottles to ensure their products are eco-friendly.
Their blankets come in a variety of stylish designs and colors, and they collaborate with artists to create unique patterns. Additionally, they support Native American artists by featuring their designs.
If the existing designs do not meet your preferences, Rumpl also offers custom blankets tailored to your specifications.
| 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 Nick Polinko are the co-founders of Rumpl Blanket. The idea for their company originated during a mountain trip when their van broke down, leaving them stranded in freezing temperatures without phone service.
To stay warm, they wrapped themselves in sleeping bags, which they found were significantly warmer than their home blankets. This experience inspired them to create blankets that offer similar warmth and comfort.
Wylie Robinson, a designer who studied at the University of Colorado Boulder, has previously worked for Stantec, MKTG, Landor, and Outpost Trade. In his spare time, he enjoys mountain biking, climbing, camping, hiking, skiing, and surfing.
How Was The Shark Tank Pitch Of Rumpl Blanket?
Wylie Robinson, founder of Rumpl Blanket, appeared on Shark Tank seeking $600,000 for a 6% stake in his company, which was valued at $15 million. He had previously raised $250,000 through a Kickstarter campaign, although he didn’t require the full amount.
Rumpl’s blankets retail for $99, with a landing cost of $25 and a wholesale price of $50, allowing for a substantial margin. Sales have increased from $450,000 in 2014 to $6.5 million recently. The company faces competition from 15 other market players.
Rumpl has raised $4.8 million through two seed rounds and one Series A round. With $3.5 million already in the bank, Mark Cuban questioned the need for additional investment. Wylie aims to expand into sports licensing, but Mark Cuban opts out, unconvinced by the proposal.
Kevin O’Leary and Daymond John both offered $600,000 in loans with interest and a percentage of sales. Blake Mycoskie and Daymond John also proposed a loan with a royalty percentage and equity. Lori Greiner declined to invest.
In response, Wylie presented a counteroffer involving a loan with a lower royalty percentage and equity.
Rumpl Blanket Shark Tank Update
The Shark Tank appearance provided a significant boost for Rumpl Blanket, leading to increased media attention and interviews. Consequently, Wylie Robinson’s Instagram following grew to 167,000. By July 2021, the company reported $8 million in revenue.
Originally focused solely on blankets, Rumpl has since expanded its product line to include towels, mats, beds, pillowcases, and more.
What Is Rumpl Blanket’s Net Worth?
Rumpl Blanket’s estimated net worth is $25 million, reflecting the company’s strong sales performance and valuation.
The company donates 1% of each product’s sales to environmental causes and has employed between 11 and 50 people to manage operations.
In 2019, Rumpl redesigned its core line of blankets using 100% post-consumer recycled materials, incorporating approximately 2,980,979 plastic bottles annually into their products.
Rumpl has gained recognition through features in BuzzFeed, Wirecutter, Outside, Today, and Forbes.
