Titin Net Worth Shark Tank Update

Athletes and fitness enthusiasts use traditional training methods to build strength efficiently without any additional equipment. Traditional fitness training equipment sometimes proved to be uncomfortable and ineffective. They don’t work efficiently as per the need.

Recognizing this problem, Patrick Whaley wanted to create a solution for this challenge. He faced this issue during his teenage years. So, he developed a distinct line of gel-weighted compression vests to improve muscle building, stamina, and recovery.

He named this vest Titin. It is a combination of both weight resistance and therapeutic benefits. Therefore, It works efficiently for athletes and fitness freaks. It sought to provide a versatile, effective, and comfortable solution for this challenge.

The price of this vest is $249 which includes an outer compression shirt, an antimicrobial pocket shirt, and 14 gel inserts. Moreover, additional items cost separately; an extra pocket shirt costs $52.95, and an extra compression shirt costs $32.95.

Whaley presented his idea to Sharks. He was in search of $500,000 for a 5 % equity stake in his business so that he could expand his business. Will the entrepreneur get a deal on Shark Tank? Check out our Titin update to find out!

Titin Net Worth 2024 Shark Tank Update

Patrick Whaley was looking for an investment of $500,000 in exchange for 5% equity in the company. At the time of the episode, he valued his company at $10 million. Whaley successfully secured a deal with Daymond John for an investment of $500,000 for 20% equity in the company. The investment adjusted the company’s net worth to around $2.5 million. After the show was aired, the company experienced legal issues and eventually shut down its operations. As per my rough estimate, the current net worth of Titin in 2024 is around $0.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Kevin O’Leary	$500,000 for 15% equity	$750,000 for 15% equity	No
Robert Herjavec	Out	N/A	N/A
Lori Greiner	Out	N/A	N/A
Daymond John	$500,000 for 20% equity	$500,000 for 10% equity	Yes
Mark Cuban	Out	N/A	N/A

Founders Backstory-Initial Pitch

Whaley was a Mechanical Engineer with a specialization in Biomechanics. His inspiration behind this product was his own experience. During his teenage years, he often carried a weighted backpack to enhance muscle growth, which led to discomfort. He has also observed athletes using uncomfortable products for their fitness. This made him realize the need for a gel-weighted vest that is efficient and comfortable enough to meet the requirements.

During the initial period, Whaley encountered many challenges. One of the primary issues he faced was to make an appealing design for his vests which combines all the benefits inside of it. Additionally, He faced financial issues to expand his business. He was successful in using crowdfunding, raising more than $100,000 on Kickstarter and an additional $1 million on Fundable, which helped him validate his concept and attract professional athletes.

Wahley presented his product to the Sharks and mentioned its benefits and why he made such a vest. He also explained his inspiration behind the invention of this product. He also elaborated on the versatility of this product and why this product is efficient and eases the lives of fitness freaks. Furthermore, this product is a mixture of physical therapy and a training tool.

Wahley was seeking $500,000 for 5% equity in the business to expand his business. Keep reading our Titin update to find out what happened next!

Queries, Shark’s Response, & Final Deal

Sharks asked several questions about the cool wazoo from Ginelle. They question the cost of this device and whether it is capable of meeting the market demand. Furthermore, they were interested to know how this product is above other baby products. They were also curious about the versatility and efficiency of the product. She answered all these questions.

Sharks were confused and discussed about the feasibility and profit of the company. After further discussions, Ginelle shared that she had already invested $96000 in her business, and in the last year, she generated $20000 in sales. She added that if they invest in her business, she will reduce the price of the product and upgrade her business to an international level. Although Sharks were impressed by the idea of Ginelle they were concerned about the challenges of the competitive market.

Sharks appreciated Ginelle for her product. Robert Herjavec was the first to go out because he was concerned about the profit and growth potential of the product. Kevin and Daymond didn’t accept and gave the reason that the business was not investable. On the other hand, Cuba was concerned about the market demand and excused from investment. Grenier refused at first, but then, because of focusing on Ginelle’s hard work and getting emotional, Grenier came back with exactly $65000 for 25%equity in business.

What Went Wrong With Arber On Shark Tank?

Mark Cuban questioned about the product benefit, and then he declared, “My BS meter is going through the roof!”. Grenier showed no interest and went out of the deal. Herjavec claimed that the presentation was not good and he had some trust issues with Whaley’s company and, hence, refused to contribute. While Daymond and Kevin showed interest and gave an offer to Wahley.

There were many aspects that prevented the company from securing deals from most of the sharks. Grenier showed no interest in this regard as this product was not for her. Cuban wanted to know about the benefits of the product, but Wahley could not satisfy him. Herjavec couldn’t trust Wahley for his investment. Other factors include market, retailing price, and certain doubts of the Sharks.

Except for Daymond, all the Sharks opted out because of profit margins, trust issues, market competition, lack of interest, etc. They had various doubts in their mind, so they felt it risky to contribute.

Product Availability

In our Titin update research, the official website of the company is not active now, and hence, this product is not accessible to many people. However, there are some sites, including Amazon, Protherapy, and other retailers. Prices for the products typically started from $249 for the complete set, which included the weighted shirt and gel inserts.

What Happened to the Company After Shark Tank?

Daymond offered $500,000 for 20% equity, for which Whales encountered $500,000 for 10% equity, but somehow, the deal was finalized as per Daymond’s demand. In regard to the Titin update, Daymond became a full partner in the business for $1 million. After some time, allegations of fraud came out against Whaley and Daymon from a man who claimed he invented the technology. Now, the company is not active anymore. The company’s website and social media accounts have been deactivated, which indicates that operations have ceased.

Conclusion:

Patrick Whaley, the founder of Titin, presented his unique, gel-weight, compressed vest to the Sharks. This vest was very advantageous for Athletes and fitness freak people. It was a solution for other uncomfortable training equipment. Wahley highlighted its uses and benefits to the sharts. He was seeking $500,000 for a 5% stake. John Daymond gave him the offer of $500,000 for 20% equity, which he accepted. Later on, Daymond became a full partner in the business. But after some time, due to some reasons, the Titin company stopped working, and now all the Titin sites and social media handles are closed, which means that the company is not working.