BearTek Shark Tank Update| What Happened to BearTek after Shark Tank?

What is BearTek?

BearTek is a brand of gloves that allow users to control their cellphones and other digital devices without having to remove the gloves.

The gloves use microscopic sensors that are triggered by different finger motions, enabling users to communicate, create media, and listen to music without taking off the gloves.

The target market for BearTek includes athletes and outdoor enthusiasts such as runners, cyclists, motor sports enthusiasts, and snow sports enthusiasts.

The company was founded by cousins Willie Blount and Tarik Rodgers, with Rodgers serving as the CEO at the company’s Texas headquarters, and Blount based in Columbia.

To use the gloves, users can tap their thumbs on touchpads located on the sides of the glove fingers to activate the sensors.

For example, touching the thumb to the touchpad on the side of the index finger allows the user to answer or hang up a call, and start or stop music.

Who is the founder of BearTek?

BearTek is a company founded by Willie Blount and Tarik Rodgers, who are based in Texas and Columbia respectively.

The company was created as a solution for Willie, a motorcycle enthusiast, to be able to safely listen to music on his iPhone while riding, and for Tarik, a skier, to be able to use his phone and camera without removing his gloves.

They developed BearTek gloves, which are Bluetooth-enabled ski or riding gloves that allow users to control different gadgets by touching the thumb and a finger together without having to remove the gloves, making for a safer and warmer experience.

The gloves communicate with gadgets using Bluetooth modules housed in a pocket on the wrist and come in different designs and module options, ranging in price from $79 to $250.

The company attempted to raise funds for the project through Kickstarter in 2012 but were unsuccessful. With $90,000 and collaboration with the Maryland Center for Entrepreneurship, they were able to launch the product.

BearTek gloves are now widely available on Amazon and have gained popularity in the tech, geek, and sporting worlds.

What Happened to BearTek at Shark Tank pitch?

Willie Blount and Tarik Rodgers present BearTek, their blue tooth gloves that operate smartphones and GoPro cameras, to the Shark Tank military special – episode 10 of Season 7.

Willie and Tarik are looking for a Shark to assist them with production and distribution.

Willie and Tarik enter the Shark Tank pitch seeking $500,000 for a 5% stake in their company, which worth $10 million.

The men enjoy being outside, but they couldn’t listen to music while riding their bikes or skiing. BearTek, they say, converts a glove into a smartphone at their fingertips.

They demonstrate the glove as the Sharks lift their hands in imitation. From their gloves, their module can operate any gadget. They claim to be more than simply a product and ask, “Who’s ready to be embraced by BearTek?”

They demonstrate how they function as they distribute samples. The gloves have six touch points, each of which generates a separate command; the thumb is the primary control, and the module is stored in a pocket behind the glove.

Their current company is selling gloves and modules; the gloves were released to test the concept of the modules, since they eventually aim to be in the module industry.

In 15 months, they sold 1500 units for a $200,000 profit. Tarik admits that he invested $500,000 in the company’s inception.

Because military corporations want to control things with gloves, they feel the company is worth $10 million.

According to Robert, a $10 million valuation requires more than simply gloves. “It’s not working,” Daymond says to the boys.

After a brief pause, Daymond expresses his disbelief that they are worth $10 million. The guys claim that they might go as high as $32 million.

Kevin says he’s seen helmets with voice activation, and Tarik argues that although voice activation makes errors, gloves don’t.

Kevin believes the market has passed them by, therefore he goes out. Mark says he’s out since the risk/reward isn’t there. Daymond goes out because he does not agree with the valuation.

Robert is interested in hearing about items other than gloves; he does not agree with the value and does not want to be in the glove industry for $10 million; he is out.

Lori loves them; she believes they’re clever and have something, but they’re still working things out, so she’s out. Kevin claims that their value was the killed them. Finally, they left the pitch without a deal.

What Happened to BearTek after Shark Tank?

BearTek raised $60,000 through an IndieGoGo campaign without the involvement of the Sharks, but later reimbursed all funds to backers and became inactive on its website in May 2019.

As of January 2022, the gloves can still be purchased on Amazon.

Competitors of BearTek

BearTek have many competitors in the market space, these are; BeBop Sensors, Anthro Tronix, Avatar VR and AugMI labs among others.

 

Net Worth of BearTek

The company was valued at $10 million during and after the pitch, but has since gone out of business, making its current net worth unavailable.

 

BearTek FAQs

• Save

What is BearTek?

BearTek is an apparel company that specializes in producing gloves with a lot of sensors.

Who is the founder?

Willie Blount and Tarik Rodgers are the founders of the company.

How much were they asking on Shark Tank?

They were asking for $500,000 for 5% stake of their company, which worth $20 million.

Did they have the deal?

No, they didn’t have the deal on Shark Tank.

Is BearTek still in business?

No, the company went out of business in May 2019 and hence the company is not in business.

What is the BearTek worth?

The net worth of the company is not available as the company went out of business.

Where was BearTek located?

BearTek was based out of Maryland, United States.

What is the BearTek phone number?

The phone number of the company is not available on the show or on the website.

Where can I buy BearTek products?

Customers can buy their products on Amazon.com.

Does BearTek have any social media profiles?

Yes, their Twitter profile and Instagram profile but the official Facebook page is unavailable.

Is BearTek venture backed?

The company is not backed by any venture capitalists.

What is the best BearTek glove?

There are four different kinds of gloves to choose from and the best glove for you will depend on your wants, needs and personal preferences.

Does BearTek work?

Yes, BearTek works perfectly fine. In fact, it is working flawlessly for many years now.

How do they work?

The gloves have six different touch points, each of which gives off a command when the user touches his thumb to it.

The module is stored in an internal pocket behind the left hand. As such, a user can operate any gadget through their glove without removing them.

What is the source of funding?

The founders relied on their savings and personal funds, including a Crowdfunding campaign at Kickstarter.

How much revenue does BearTek generate?

BearTek has sold more than 15,000 gloves and modules to date, which is $200,000 in revenue.

How safe are they?

In the event that users crash their bike or ski, their BearTek will protect their hands from injury.

What is the net worth of Willie Blount?

Willie has a net worth of $1.5 million.

What is the net worth of Tarik Rodgers?

Tarik Rodgers net worth is unknown.

BearTek Shark Tank Episode