Rapid Rope Shark Tank Net Worth 2023
Rapid Rope, founded by Chris and Geanie Rodgers, was featured on Shark Tank USA in January 2020. During their pitch, they valued their company at $1 million and asked for $200,000 for a 20 percent stake.
The couple eventually accepted Barbara Corcoran’s offer of $200,000 for 30 percent equity.
As of 2021, Rapid Rope is reportedly making between $900,000 and $1 million per year of its product, so it is likely that the company’s net worth has increased since their appearance on Shark Tank. However, the exact net worth of Rapid Rope in 2023 is unknown.
What is Rapid Rope? Who is the founder of Rapid Rope?
Rapid Rope is a company that produces eco-friendly and organic ropes with a focus on sustainability. Their high-quality ropes and textiles are made from bamboo.
The company has a particular product line called Rapid Rope, which is perfect for adventure enthusiasts and people who are always on the go. These ultra-lightweight and super-strong ropes were designed to meet the needs of those who require reliable ropes for their activities.
The company was founded by Geanie and Chris Rodgers in 2017. However, they had to pause the business for a few years due to their adoptive son’s diagnosis of ulcerative colitis.
The couple was frustrated with untangling ropes, especially when they needed them the most. This frustration led them to create the Rapid Rope, which makes the storage, dispensing, and cutting of rope much easier, without the hassle of continuous untangling.
One unique feature of the Rapid Rope is its inventive dispenser, which functions as an all-in-one solution. The dispenser can be refilled with new canisters, making it an eco-friendly and cost-effective option.
Each Rapid Rope canister contains 120 feet of rope, which can be cut to any desired length. The rope has a tensile strength of 1100 pounds, making it strong enough to hold almost anything.
Chris Rogers, a utility lineman, and his family are outdoor enthusiasts who frequently require rope for their activities. However, carrying a large amount of rope around can be inconvenient and take up too much space.
Rapid Rope solved this problem for the Rogers family. The rope is coiled in a shatterproof canister with a built-in cutting mechanism, making it easy to carry around without taking up too much space.
The product has received overwhelmingly positive reviews, with many users stating that it performs as advertised.
After taking time off to care for their son, Geanie and Chris Rodgers are ready to restart their business at full speed. They invested a lot of time and money into their son’s recovery and are now excited to continue their journey with Rapid Rope.
Rapid Rope Shark Tank Pitch
Geanie and Chris Rodgers made the decision to present their company to investors on Shark Tank to obtain financial support and assistance with distribution.
They requested $200,000 for a 20% stake in their company, which was valued at $1 million. They showcased their products and provided samples.
The Sharks were impressed with the $172,000 in sales that the business had achieved since its launch two years ago. Furthermore, they expressed interest in establishing a retail partnership with Duluth Trading Company.
In honor of their adopted child from Ethiopia, the couple has pledged to donate a portion of their profits to help establish a school. Lori was the first to exit the deal, followed by Mark, Kevin, and finally Rohan.
Before Rohan bowed out, he declined to partner with the couple but offered a $10,000 donation to the school. All of the Sharks, except Barbara, were hesitant to invest as well.
Barbara was unfamiliar with the industry, but she admired Geanie and Chris. She proposed a $200,000 investment in exchange for a 30% stake in the company.
The couple countered Barbara’s offer with a 20% stake in exchange for $200,000, but Barbara remained firm in her proposal. Ultimately, they accepted the deal and secured Barbara’s investment.
Although they celebrated after the pitch, the couple later clarified that they had not completed the deal with Barbara. Nevertheless, their product remains available for purchase online and at Duluth Trading Company.
Competitors of Rapid Rope
Rapid Rope is competing against heaps of businesses, such as Climb Right.
Net Worth of Rapid Rope
The company was valued at $1 million during the pitch, since then the company has been selling with revenue of over $900,000. This shows that the company net worth has raise in 2021.
Rapid Rope Shark Tank Updates
Rapid Rope is a product created by Chris and Geanie Rogers, which is a rope in a can that can hold a little over 1,000 pounds and can be used for various purposes.
The Rogers family does a lot of camping, hunting, and fishing, and they realized the need for rope in their outdoor activities.
They pitched their product on Shark Tank in episode 1115 and asked for $200,000 for 20% of their business.
The Sharks were impressed with the $172,000 in sales since launching two years ago and the retail arrangement with Duluth Trading Company. Barbara Corcoran invested $200,000 for 30% equity in the company.
As of August 2022, Rapid Rope is making between $900,000 and $1 million in annual revenue. The company has avoided the common mistake of branching out to other products and is still selling its rope in a can on its website.
The canister is weather-resistant, shatterproof, and contains 120 feet of commercial-grade and flat rope. The rope is rated at 1100 lb. Test and has a built-in rope cutter that can be deployed and cut with one hand.
Rapid Rope has received many product orders as a result of Shark Tank and has added new colors to expand its product line. The company has also garnered a lot of publicity thanks to trade shows and will continue to grow.
The Rapid Rope Dispenser is a quick fix for anybody who wants to get a certain length of rope and cut it without worrying about it being tangled or coiling it around the hand or elbow every time.
Rapid Rope Shark Tank Table Summary:
| TOPIC | INFORMATION |
| Company | Rapid Rope |
| Founders | Geanie and Chris Rodgers |
| Product | Eco-friendly and organic ropes made from bamboo |
| Shark Tank | Valued at $1 million during the pitch, secured $200,000 for 30% equity from Barbara Corcoran |
| Competitors | Climb Right |
| Net worth | Unknown in 2023, but revenue between $900,000 and $1 million in 2021 |
| Year Founded | 2017 |
| Unique Feature | Rapid Rope dispenser |
| Pitch on Shark Tank | Asked for $200,000 for a 20% stake in the company valued at $1 million |
| Outcome on Shark Tank | Accepted Barbara Corcoran’s offer of $200,000 for 30% equity |
| Shark Tank Update | Rapid Rope is still selling its rope in a can on its website and making revenue of $900,000 to $1 million per year. |
Rapid Rope FAQs
What Is Rapid Rope And How Does It Work?
Rapid Rope is a multi-use utility rope that comes in a weather-resistant and shatterproof canister. The rope is rated at 1100 lb. Test and is commercial grade and flat. The canister contains 120 feet of rope and has a built-in rope cutter that allows the user to deploy and cut the cord with one hand.
The rope is designed to be used for almost every task, from tying down a trailer of goods to tying your Christmas tree on your car. The canister is small enough to fit in your backpack, cup holder, or RV for camping.
The Rapid Rope canister has an insert that allows the rope to be cut to the desired length, and replacement cartridges are available to make it easy to always have rope on hand.
The product is patent-pending and currently sells in the United States and Japan, with product samples in the United Kingdom. The company is family-owned and has a strong foundation of honesty and hard work.
In summary, Rapid Rope is a compact rope dispensing system that neatly stores 120 feet of commercial-grade flat braided poly rope rated at 1,100 pounds of strength, making it usable for nearly every rope application.
The convenient weather-resistant and shatterproof Rapid Rope canister has an insert that allows the rope to be cut to the desired length.
The rope is designed to be used for almost every task, and the canister is small enough to fit in your backpack, cup holder, or RV for camping.
Who is the founder?
Geanie and Chris Rodgers founded Rapid Rope in 2017, but the Rogers had to put the business on hold for a few years after their adoptive son was diagnosed with ulcerative colitis.
What Was The Outcome Of Rapid Rope Shark Tank Pitch?
In Shark Tank episode 1115, Geanie and Chris Rodgers pitched their product, Rapid Rope, a multi-use utility rope dispensing and cutting canister.
They asked for $200,000 for 20% of their business. The Sharks were impressed with the $172,000 in sales since launching two years ago and were intrigued about a retail arrangement with Duluth Trading Company. However, the deal with Barbara Corcoran never closed.
As of August 2022, Rapid Rope is still available online and at Duluth Trading Company, and the company is doing between $900,000 and $1 million in annual revenue. Rohan Oza, one of the Sharks, did make good on his offer of $10,000 for the school.
Did Rapid Rope Get A Deal On Shark Tank?
Yes, Rapid Rope did get a deal on Shark Tank. During their pitch, Geanie and Chris Rodgers received two offers: $200,000 for 20% equity from Lori Greiner and $200,000 for 30% equity from Rohan Oza. They accepted Rohan’s offer, giving him 30% equity in the company for $200,000.
However, the deal with Barbara Corcoran, who offered $200,000 for 25% equity, never closed. As of 2021, Rapid Rope is reportedly making between $900,000 and $1 million in annual revenue.
What Happened To Rapid Rope After Its Appearance In The Shark Tank?
Rapid Rope, a company that produces a quick-dispensing rope canister, appeared on Shark Tank seeking $200,000 for a 20% ownership in their company, which was valued at $1 million.
During the pitch, they showcased their products and provided samples, and the Sharks were intrigued by the $172,000 in sales since launching two years ago.
Barbara Corcoran offered $200,000 for 30% equity, but the deal never closed13. However, Rapid Rope is still available online and at Duluth Trading Company.
As of August 2022, Rapid Rope is reportedly making between $900,000 and $1 million in annual revenue. The company has avoided the common mistake of branching out to other products and still sells its rope canister.
Rapid Rope has received many product orders as a result of Shark Tank and has added new colors, such as orange and green, to expand its product line. The feedback for Rapid Rope has been extremely positive, and the product is still in business.
In summary, Rapid Rope did not close the deal with Barbara Corcoran, but the company is still available online and at Duluth Trading Company.
Rapid Rope is reportedly making between $900,000 and $1 million in annual revenue and has avoided the common mistake of branching out to other products.
The company has received many product orders as a result of Shark Tank and has expanded its product line by adding new colors.
How much were asking on Shark Tank?
They were seeking for $200,000 for 20% stake in the company.
How much did they win on Shark Tank?
They got an offer of $200,000 for 30% stake in Rapid Rope from Barbara but they never finalize the deal.
Is Rapid Rope still in business?
Yes, Rapid Rope is still in business but they have stopped selling on their website.
Where can I buy Rapid Rope?
Customers can buy Rapid Rope on their website and Amazon.
Who are their competitors?
Their main competitor is Climb Right and some other minor companies.
What is their revenue?
The business has earned revenue of over $900,000 as of 2021.
Have they got any other deals?
Yes, they also got a deal from Duluth Trading Company.
Where is Rapid Rope made?
Rapid Rope is manufactured in the United States, with the majority of supplies and labor originating in Idaho, Geanie explained.
What is rapid rope made of?
It compresses 120 feet of flat-braided nylon rope into a canister small enough to fit in the cup holder of your automobile.
Even better, it’s rated at 1,100 lbs. more than twice the strength of regular Para cord of the same diameter.
Simply extract the required length from the canister, cut it with the included blade, and proceed to tie one on.
How is rapid rope doing?
It is doing extremely well and it might have made a profit for the owners in a couple of years.
Is Rapid Rope safe?
Yes, Rapid Rope is designed to be safe and durable. It is made of very strong material.
What was the purpose of Rapid Rope?
The main purpose behind the invention of Rapid Rope was to provide safety for people when they are on the move and in need of rope. People could just get it from the car and use it.
What is unique about rapid rope?
Rapid Rope can be used for outdoors, camping, hunting and fishing.
How much does it cost?
It is quite expensive to buy, one canister costs around $25 and each refill costs $15.
How many products does Rapid Rope have?
They have just one product, rapid rope.
What is special about the product?
The product is unique and has a lot of exceptional features. It is eco-friendly and super strong.
Is the rapid rope made from bamboo?
No, it isn’t made from bamboo but it contains some of it in it to make it more natural and eco-friendly.
What is the net worth of Chris Rodgers?
The net worth of Chris Rodgers is unknown at this time.
What is the net worth of Geanie Rodgers?
The net worth of Geanie Rodgers is unknown.
