Rekkie, a smart snow goggles product founded by Fletcher Pease, Anderson Pease, David Pease, and Henry Pease, telecasted Shark Tank USA in 2023 on Season 15. The founders were seeking $300,000 for 10% equity for their business. However, they secured a deal with Mark Cuban, which was $300,000 for 12.5% equity. In this article, we will explore Rekkie’s net worth in 2024, its Shark Tank pitch summary and more.
Rekkie Net Worth
As of August 2024, Rekkie’s net worth is estimated at $3.2 million, and its annual revenue was $175K in 2023.
| Net worth | $3.2 million *estimated |
| Annual Sales Revenue | $175K (2023) |
| Profits | Not Available |
| Lifetime sales | Not Available |
| Employees | 72 total employees |
Rekkie Net Worth Timeline
| Net Worth 2024 | $3.2 million |
| Net Worth 2023 | $3 million |
| Net Worth 2022 | $2.8 million |
| Net Worth 2021 | $2.5 million |
Shark Tank Rekkie Update from Season 15
Brothers Henry, David, and Fletcher appeared on Shark Tank to present their company. They asked for $300,000 in exchange for 10% of their company, which they valued at $3 million. During their pitch, they introduced their product, Rekkie, which they claimed, it could make skiing feel as smooth as skating.
Rekkie’s smart snow goggles offer a wide field of view and come with an in-built screen. They also have a transparent heads-up display that shows information right on the lens, appearing as if it’s floating in front of you. It helps you locate your friends, listen to music, check notifications, and know your directions. You can also receive calls and check your speed without taking off your snow gloves.
The display doesn’t obstruct your view and uses advanced technology for precise, anti-fog lenses that enhance contrast. For snow sports enthusiasts, these goggles are revolutionary, especially for staying connected with your group and multitasking while skiing.
After the presentation, the sharks got to try out the goggles. Lori Greiner raised a concern about how you can find your friends if you go in different directions while skiing. There, Fletcher explained that with Rekkie’s app, you and your group can connect and use the location tracking feature to find each other, even if you get separated easily. Additionally, if you’re in an area with poor cell service, the goggles have long-range radio capability to keep you connected.
Since the launch of the product late last year, they’ve made about $175,000 in sales. The company sells directly to consumers, and they priced the goggles at $349. It costs $130 to manufacture each unit, but they were confident they could reduce that to about $100 per unit in the future. It costs them about $120 to acquire a customer, but the average order value was around $475.
When Daymond John asked about competition of the product, David explained that there aren’t any direct competitors in the action sports market for goggles. Barbara Corcoran then expressed concern about the price compared to other goggles. There, the brothers explained that high-quality basic snow goggles usually cost around $300. They believed their goggles were the best on the market, even without the display features.
Daymond then asked about patents, and Fletcher mentioned that their patent for the display is still pending. The brothers have funded the business themselves, investing $200,000 of their own money, and they also received a $40,000 grant from a local company. Lori Greiner admired the brothers and the product but she didn’t interest in cold-weather sports, so, she decided not to invest to the product.
Kevin O’Leary offered $300,000 for 20% equity, with a return of $0.20 for every dollar taken as income. Barbara asked when they would add the map feature to the goggles. When they couldn’t give a clear answer, she decided not to invest.
However, Mark Cuban saw potential in the idea and offered $300,000 for 15% equity. The brothers countered with Mark’s offer, requesting 12.5% equity, valuing the company at $2.4 million. They also shared their plans to expand the technology to law enforcement and military gear. Impressed by their ambition, Mark agreed to their counteroffer, and the Pease brothers left the show with an agreement.
| Company Name | Rekkie |
| Founders | Fletcher Pease, Anderson Pease, David Pease, and Henry Pease |
| Business | A company making smart snow goggles product |
| Episode | Season 15, Episode 07 |
| Asked Deal | $300,000 for 10% equity |
| Final Deal | $300,000 for 12.5% equity |
| Shark | Mark Cuban |
| Business Status | In Business |
| Company Website | Visit Website |
| Headquarter | Cincinnati, Ohio, United States |
Summary of the Sharks’ Deal List!
| Shark | Offer | Counter Offer |
| Mark Cuban | $300,000 15% equity | $300,000 for 12.5% equity (Accepted Deal) |
| Kevin O’Leary | $300,000 for 20% equity, plus a distribution of $0.20 for every dollar paid out as income | No |
| Lori Grinear | No | N/A |
| Daymond John | No | N/A |
| Barbara Corcoran | No | N/A |
What Happened to Rekkie after Shark Tank?
As of August 2024, Rekkie is still in business. The latest update shows the company’s continued success after its Shark Tank appearance. With Mark Cuban’s backing, the Pease brothers are expected to keep growing their business and brand.
After the episode aired, many people ordered their smart ski goggles and shared positive reviews on social media. The brand currently has over 4,000 followers on Instagram, where they share videos and photos of their smart snow goggles. The Rekkie website also mentions that they now offer swappable lenses for their goggles, allowing users to customize the look and color of the lenses. Also, it has been featured in leading cold-weather sports magazines, and customers are delighted with their purchases.
Rekkie Founders
Fletcher Pease, Anderson Pease, David Pease, and Henry Pease are the founders of Rekkie, which was started in 2012. They’ve spent years on the slopes as avid skiers, so they know the sport well. Henry got the idea for Rekkie after he got separated from his group on the mountain and had trouble finding them again. He realized there needed to be a solution to this problem. After developing the prototype, Anderson, David, and Fletcher joined the project.
They worked together to create a product that helps people navigate mountains without needing expert knowledge. Henry, who graduated from Princeton University with a mechanical and aerospace engineering degree, started his career at BMW in North America. David graduated from Duke University with a major in Economics and is also the co-president of Pease Enterprises.
Anderson, who is a software engineer, built the backend for the Rekkie App. Fletcher managed sales, finance, and accounting. David led marketing, manufacturing, and operations. Rekkie’s founders Fletcher, David, Anderson & Henry Peas’s net worth are unknown as of 2024.
Rekkie Achievements and Awards
| Year | Achievements and Awards |
| 2023 | The company was featured on Shark Tank and secured a deal from Mark Cuban |
Conclusion
Shark Tank is a TV show that showcases different business ideas and helps them succeed. The show featured Rekkie as one of the ventures. They made a deal with Mark Cuban, showing that success is possible with the right idea and execution. Now, we eagerly await to see how their success story unfolds in the future.
Before you leave, check out the other company updates in Season 15, Episode 07.
