Welcome to my article on Chirp Wheel’s journey on Shark Tank and its incredible net worth. Chirp Wheel, a back pain relief tool, made waves on the popular TV show and has since become a huge success story. Let’s dive into the details!
- Chirp Wheel’s net worth is estimated to be around $50 million.
- Despite not closing the deal on Shark Tank, Chirp Wheel has achieved tremendous success.
- Founder Tate Stock came up with the idea for the Chirp Wheel and started the company with a $400 investment.
- Lori Greiner secured the deal on Shark Tank, offering $900,000 for 2.5% equity.
- Chirp Wheel has helped over 500,000 customers alleviate back pain and is available for purchase on various platforms.
Tate Stock’s Journey and the Birth of Chirp Wheel
Tate Stock, the founder of Chirp Wheel, has an inspiring story behind the creation of this innovative back pain relief tool. Born into a farming family in Draper, Utah, Stock had humble beginnings. Before diving into the world of entrepreneurship, he gained valuable experience as a door-to-door salesman, selling pest control products. However, it was his encounter with a yoga wheel at his aunt’s residence that sparked the idea for the Chirp Wheel.
With determination and a vision, Stock set out to create his own version of the yoga wheel. Armed with an initial investment of $400, he purchased PVC pipes and yoga mats to craft the first prototype of the Chirp Wheel. In 2015, Chirp Wheel was officially founded, and its success was immediate. Within just two weeks, the company made a remarkable $12,000 in sales, setting the stage for future growth.
Stock’s entrepreneurial journey didn’t stop there. To secure further funding and reach a wider audience, he launched a Kickstarter campaign for Chirp Wheel. The campaign was a resounding success, attracting support from backers who believed in the product’s potential. With this influx of funds, Chirp Wheel continued to expand, reaching new customers and gaining popularity in the back pain relief market.
The Evolution of Chirp Wheel: From Plexus Yoga to Shark Tank
Chirp Wheel’s journey took a pivotal turn when it appeared on the hit TV show Shark Tank in season 12. Stock pitched his product to the panel of well-known investors, including the likes of Lori Greiner. His initial ask was $900,000 for 2% equity, which ignited a passionate bidding war among the Sharks. Ultimately, it was Lori Greiner who secured the deal with a counteroffer of $900,000 for 2.5% equity, with the condition of being repaid within 18 months.
Although the outcome of the deal remains unclear as Chirp Wheel is not listed on Lori Greiner’s personal website, the exposure gained from Shark Tank propelled the brand to new heights. Chirp Wheel’s success story continued as it became available for purchase on various platforms, including GoChirp.com, Amazon, Target, Best Buy, Walmart, and Dick’s Sporting Goods.
|Chirp Wheel founded
|Chirp Wheel sales in first two weeks
|Chirp Wheel Kickstarter campaign
|Chirp Wheel units sold by 2022
|Over 1 million
Chirp Wheel’s Shark Tank Pitch and Deal
Chirp Wheel’s appearance on Shark Tank in season 12 was a pivotal moment for founder Tate Stock and his back pain relief tool. During the pitch, Stock offered $900,000 for 2% equity, immediately capturing the attention of the Sharks. What followed was a bidding war that showcased the potential and appeal of Chirp Wheel.
Lori Greiner’s Offer
Lori Greiner, known for her expertise in the home and kitchen product industry, saw the value in Chirp Wheel and made a compelling offer. She counteroffered Stock’s initial proposal with $900,000 for 2.5% equity, a slightly higher stake in the company. However, Greiner also requested to be repaid within 18 months, adding a unique stipulation to the deal.
A Bidding War
The Sharks were clearly impressed by Chirp Wheel’s potential, as the bidding war intensified between the investors. Ultimately, Stock accepted Greiner’s offer, recognizing her experience and ability to help propel the company forward. It was a significant moment for Chirp Wheel, securing a deal with one of the most successful Sharks on the show.
|$900,000 for 2.5% equity
While it is unclear whether the deal ultimately closed, the bidding war and Greiner’s offer showcased the value and potential of Chirp Wheel. This moment on Shark Tank brought the company even more recognition and set the stage for its continued success.
Chirp Wheel’s Success and Current Status
Since its appearance on Shark Tank, Chirp Wheel has achieved remarkable success in the back pain relief industry. The company’s commitment to providing effective solutions has resonated with over 500,000 satisfied customers who have found relief from their back pain.
Chirp Wheel has received glowing reviews from users worldwide. With a rating of 4.4 stars on Amazon, based on feedback from over 15,800 users, it is clear that the product delivers on its promises. Customers rave about the wheel’s ability to alleviate back pain, improve flexibility, and enhance their overall well-being.
You can easily access the Chirp Wheel through multiple reputable retailers, including GoChirp.com, Amazon, Target, Best Buy, Walmart, and Dick’s Sporting Goods. This widespread availability ensures that anyone seeking effective back pain relief can find the Chirp Wheel easily and conveniently.
One aspect that sets Chirp Wheel apart from its competitors is its status as an FDA-registered medical device. This distinction reinforces the product’s safety and effectiveness, giving users added peace of mind. Chirp Wheel’s commitment to quality and innovation has propelled the company’s success and cemented its position as a trusted brand in the back pain relief industry.
What is Chirp Wheel’s net worth?
As of 2023, Chirp Wheel’s net worth is estimated to be around $50 million.
Was Chirp Wheel featured on Shark Tank?
Yes, Chirp Wheel appeared on the TV show Shark Tank in season 12.
Did Chirp Wheel secure a deal on Shark Tank?
While founder Tate Stock scored a deal with Lori Greiner on the show, it is unclear whether the deal ultimately closed.
Where can I purchase Chirp Wheel?
Chirp Wheel is available for purchase on various platforms including GoChirp.com, Amazon, Target, Best Buy, Walmart, and Dick’s Sporting Goods.
What is Chirp Wheel’s rating on Amazon?
Chirp Wheel has a rating of 4.4 stars on Amazon from over 15,800 users.
Is Chirp Wheel an FDA-registered medical device?
Yes, Chirp Wheel is an FDA-registered medical device, which sets it apart from similar products in the market.