'Shark Tank' contestants tackle a zombie on set — end up scoring $200,000 deal with Barbara Corcoran
While entrepreneurs on "Shark Tank" use all sorts of theatrics to make their pitch entertaining, bringing a zombie on the show may seem a bit over the top. However, co-founders Chris and Jeanie Rodgers did exactly that to pitch their easy rope-dispensing canister, and managed to grab the attention of the Sharks and a $200,000 deal from Barbara Corcoran.
In the episode, the couple was seeking $200,000 in exchange for 20% of their business. The entrepreneurs were avid outdoors people and explained how difficult it was to get to traditional ropes, especially in an emergency. They explained that the long wads of ropes were too tough to carry around and untangle when needed. Thus, they came up with the idea of a rope in a canister, the Rapid Rope. During their pitch, they suffered a zombie attack, and to show the efficacy of their product, Chris whipped out the Rapid Rope and hogtied the zombie in seconds.
They then paraded their zombie friend around, who carried the tray of samples for the Sharks. “That’s really scary, actually,” Lori Greiner said as the zombie snarled in Kevin O’Leary’s face. After handing out the samples, the couple explained the backstory of the product and how it came into existence.
Chris, an electrical lineman, shared that he uses ropes in every aspect of his job, and he always found his ropes tangled and unusable. Thus, the husband and wife team put a cartridge of heavy-duty rope into a canister, added a wrap-around cutting system, and Rapid Rope was born.
When O'Leary asked for the numbers, the couple shared that the company had $172,000 in lifetime sales, as they were yet to commit themselves full-time to the company, as they had to care for their five children. They shared that the business was debt-free and they had put in $115,000 of their own money. Furthermore, in honour of their adopted son, they use some of their profits to build a school in his native place in Ethiopia. While the Sharks were moved by the presentation, not everyone was interested in cutting a deal. Greiner dropped out first as she admitted to not knowing anything about ropes.
O'Leary and Mark Cuban followed the lead as they felt they weren't right for the company. On the other hand, guest judge Rohan Oza pledged to donate $10,000 towards the construction of the school, but he chose to drop out as well. With this, the couple was left with just Corcoran. The self-proclaimed rope novice told the couple that she loved their energy and that she was going to go with her heart on this. She then offered $200,000 for a 30% and the couple countered with 25% equity. When Corcoran didn't budge, they accepted the deal and onboarded her as a partner.
According to Shark Tank Blog, the deal never closed, but Rapid Rope went on to witness incredible success. By 2024, the company reached $1 million in revenue, and it is still in business with its products on sale online.
More on Market Realist:
'Shark Tank' contestant says no to $1.5 million from Mark Cuban — and still walked away a winner
'Shark Tank' contestant fails to get a deal simply because he kept arguing with the judges
