ViewSPORT Sweat Activated Fitness Apparel
NO DEAL
EPISODE SUMMARY
🕓 Air Date: April 13, 2012
Asking For:
$500,000 for 20%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
ViewSPORT offers sweat-activated technology embedded in t-shirts, revealing a hidden logo when the wearer sweats, aiming to provide motivation during workouts.
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Background Story
Ben Wood, a former medical school student with a background in chemistry, conceived the idea for ViewSPORT while working out and noticing sweat patterns on his shirt. He saw an opportunity to turn this into a motivational tool and began researching and developing the technology. Eventually, he dropped out of medical school to pursue ViewSPORT full-time.
The Product
ViewSPORT’s sweat-activated technology is incorporated into the fabric of t-shirts. When the wearer sweats, a hidden logo appears, providing motivation during workouts.
The technology can also be customized to display personalized logos. ViewSPORT offers decoration services for shirts, targeting sports teams and other organizations.
How It Went
The company’s position before Shark Tank
ViewSPORT has generated $140,000 in sales, with 80% of that revenue being generated in the last three months. They have secured interest from potential partners, including Hurley, for licensing deals. However, the company’s valuation and revenue are not meeting the expectations of the sharks, leading to skepticism about its long-term viability.
The Negotiations:
Despite interest from potential partners like Hurley and securing a purchase order from the U.S. Naval Academy for 1,500 shirts, the sharks are unconvinced about the company’s valuation and the effectiveness of the product. Ben’s asking valuation of $2.5 million for the company, based on its current revenue, is deemed too high by the sharks.
They question the scalability and potential returns on investment, ultimately leading to no deal being made. Ben’s refusal to negotiate on the valuation and the perceived flaws in the product’s visibility and effectiveness further deter the sharks from investing.
