The Rumpl Blanket, a premium outdoor gear, and activewear product were Appeared by Founder Wylie Robinson in Shark Tank Season 12 Episode 1. Robinson asked for $600,000 with a great pitch at Shark Tank in exchange for 4% equity in his company. This Rumpl Blanket was worth $15 million when she appeared on the Shark Tank show.
So this Rumpl Blanket is not a simple blanket, each one is made from 60 recycled plastic bottles and sleeping bag materials. This stuff blanket can be carried anywhere be it travel, beach, mountain track, etc.
This blanket is very simple and very less in weight, you can use this blanket every day in your daily life. Founder Robinson says that he donates 1% of the sales of each of his products to environmental protection.
This Rumpl Blanket has been made using a plastic bottle and some silicone, it has also been made from 100% post-consumer recycled material.
There are many blankets available in the market, which work to fulfill the different needs of the people, in the present time, waterproof stuff blankets are also present in this market.
According to some reports, the global blanket market was valued at 20.26 billion in 2020, and the CAGR for 4.5% of it. This is a very big industry, however, even after being a small category, this industry is slowly growing.
Many brands are already present in this industry but this Rumpl Blanket is different from all other brands. This company makes different types of blankets that are waterproof, dustproof, and non-hygienic which can be used for travel, etc.
What Is Rumpl Blanket?
Rumpl Blanket is a retail apparel and fashion company based in Portland, Oregon. The company manufactures high-performance indoor and outdoor, weatherproof, soft, and cozy blankets that are perfect for all types of people.
This company was started in 2013 and it has been running very well since its inception. This product is made using strong ripstop nylon, secure cross-stitching, and a DWR (Durable Water Repellent) Also, plastic bottles are used in it.
Many factors are considered to make this blanket so that the consumer can get a perfect and safe product. It is a completely eco-friendly product that has less impact on the environment.
The material that is used to make a sleeping bag, you will also find this material in Rumpl Blanket And can also prevent cold very well.
Wylie is a designer and makes these blankets in different designs and colors to make them look fancy and cool. It has collaborated with many artists to give them a perfect designs.
It has partnered with Native American artists so that they too can get some support through their designs.
If the customer does not like their design blankets, then they also make custom blankets, the customer can make his own blankets by telling his design to them.
Rumpl Blanket Shark Tank Update
|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|
|Episode (Shark Tank USA)||Season 12 Episode 1|
|Air Date||October 16, 2020|
|Business Status||In Business|
|Net Worth||$15 Million *estimated|
Rumpl Blanket Contact Details
|Place||Portland, Oregon, United State|
Who Is The Founder Of Rumpl Blanket? – Wylie Robinson Shark Tank
Wylie Robinson is the co-founder and CEO, of Rumpl Blanket and his friend Nick Polinko is his partner in this company.
Wylie and his friends went to the mountains where their Van broke down, their cell phones didn’t work and the temperature was freezing.
It was so cold there that he slowly started feeling cold and he wrapped his sleeping bag to keep his body warm. His friends also wrap this sleeping bag to warm their bodies.
After a few hours, he was released that this sleeping bag is much better than the blankets which are in the beds of his house.
After coming to his house, he talked about it with his friend about the sewing machine and making blankets that give warm like sleeping bags. After making the first product, he ran a Kickstarter campaign to market it, in which he raised $250,000 in funds.
Wylie is a professional designer, she did her design studies at the University of Colorado Boulder. He has also worked as a designer in many companies like Stantec, MKTG, Landor, and Outpost Trade.
he has been fond of mountain biking and climbing, camping, hiking, skiing, and surfing since the very beginning and he does this in his free time.
Rumpl Blanket Before Shark Tank
This Rumpl Blanket is weather-resistant, soft, warm, cozy, lightweight, and can be used for all kinds of purposes. If you go for travel then this blanket works like a sleeping bag for you.
Its design and size have been made keeping in mind the human body, it comes in 3 types of folding, one-person, one-person, and two-person.
Strong ripstop nylon has been used in this, due to which it is very difficult to get wet in water written in liquid.
It is a completely eco-friendly solution as it uses recycled products. This product is 100% Fair Trade Certified and is harm-free.
How Was The Shark Tank Pitch Of Rumpl Blanket?
Founder Wylie Robinson asked for $600,000 after being featured in Shark Tank in exchange for a 6% share of his company, Rumpl Blanket, The valuation of this company is $15 million.
Initially, he run a Kickstarter campaign and raised $250,000 in funds, although he did not need that much amount.
The cost of these blankets is $99 and their landing cost is $25, they sell for $50 wholesale. That’s a pretty good margin.
In 2014, he had generated sales of $450K, it had been 1 year since running this company. After that, he generated total sales of $ 950,000, 2.7 Million, 5.3 Million, 8.8 Million, and 6.5 Million.
Currently, 15 companies are working on this product, which can go ahead and become a competitor for this company.
Rumpl had bought a very good amount. So this company has done two seed rounds, it took $1 million in both. In 2018 another fund was raised in the A round of $3.8 million.
Wylie said that he already had $3.5 million in his bank, the same Mark said that if you have money, what are you doing in Shark Tank.
Wylie said I am here because I would like to take this product and this brand into sports licensing, then mark said, this is the worst excuse ever to be there.
Mark Cuban: Wylie, look, I’m not buying the whole “I can’t get sports licensing help without you guys”. So for those reasons, I’m out.
Kevin O’Leary: Kevin is interested to invest in this so Kevin offered Wylie a $600,000 loan at 10% payable in 2 years and 5% of all sports licensing revenue.
Daymond John: After much discussion, John also heard his offer, his offer was a $600,000 loan for 2 years at 10% plus 5% of all sales for two years.
Blake Mycoskie & Daymond John: Blake says that he will be in this deal with John and he will help “direct to consumer”(DTC). His offer was that he and Daymond would give $00K as a loan for a royalty of 5% of all sales for 2 years + 4% equity together.
Kevin O’Leary #2: Meanwhile, Kevin also gave his 2nd counter offer. So his offer was $600K for a royalty of $10 per sale until $1.8 Million is paid + 4% equity.
Lori Greiner: Lori, without giving any excuse, said directly that she is out of this offer.
Blake Mycoskie & Daymond John #2: After Kevin, Blake charges something in his offer and tells Willie that he will pay $600K as a loan for a royalty of 5% of all sales for 2 years + 10% equity.
Enterpernure Counter Offer: Wylie told his counter offer that $600K as a loan for a royalty of 2.5% of sales for 2 years + 4% equity.
Even if the shark is not interested in Wylie’s counteroffer, then Wiley said that if he would not be able to finalize this deal, then he is out of this deal.
What Happened To Rumpl Blanket After Shark Tank?
After Shark Tank, Rumpl Blanket generated sales, earning $1 million in sales shortly after the Shark Tank show was released.
After some time of the show, the number of followers of Entrepreneurs increased a lot and many people started buying this product of theirs.
The Shark Tank Show has been very positive for him, he has been interviewed on many news channels related to his business.
So because of this, there are currently 167k followers on her Instagram. According to some resources, we have come to know that by July 2021, this company had generated $ 8 million in revenue.
Earlier, when he used to make only blankets, now he is making towels, mats, beds, pillowcases, etc. along with blankets.
Where Can You Buy Rumpl Blanket?
Rumpl Blanket is available on the website as well as on popular platforms like Amazon, Walmart, etc. Its cost is $99. If you want to buy it, then we have provided the link below, through which you can buy this product.
What Is Rumpl Blanket Net Worth?
During Shark Tank in 2020, Rumpl Blanket was worth $15 million and now it can be up to $28 million. According to its valuation, Rumpl Blanket’s net worth is also growing very fast. It is expanding its product list. Along with the United States, he is also expanding his product in Internation. Right now this company is running in a profitable way, although during the pandemic there was a significant decline in their sales.
|Rumpl Blanket‘s Worth||$15 million *Approx|
Is Rumpl Blanket Still In Business?
Rumpl Blanket This is also running on June 9, 2022. In June 2021, this company generated $ 8 million in revenue.
This company donates 1% of the sales of each of its products to improve the environment.
He has also hired many employees to manage the product. 11-50 employees are currently working in it.
In 2019, the company redesigned the core line of blankets using 100% post-consumer recycled materials. Every year it uses 2,980,979 plastic bottles in it. This company has been featured in BuzzFeed, Wirecutter, Outside, Today & Forbes.