Tail Lightz Net Worth
Tail Lightz was a company that appeared on Shark Tank in Season 3 Episode 3.
The founder, Kyle Rainey, was seeking $50,000 for 50% of his LED embroidery patches. The company went out of business in 2015 and had a valuation of $100,000 during and after the pitch.
What is Tail Lightz and Who is the founder of Tail Lightz?
Tail Lightz is a collection of magnetic patches with LED lights designed to be worn on the rear pocket of pants, shorts, caps, and handbags.
The person behind this innovation is Kyle Rainey, a marketing specialist from Baton Rouge, Louisiana. Kyle Rainey has a history of inventing numerous items using his marketing skills, one of which was The Recycling Cycle, an adjustable recycle bin cart that made it easier to transport trash to the curb.
After completing his studies, Kyle Rainey entered the retail package and shipping industry, eventually establishing his own chain, Postal Express.
He came up with the idea for Tail Lightz when his daughter requested sneakers with LED lights. While he thought the idea was fantastic, he decided to create a product that was illuminated but not worn on the feet.
Kyle Rainey is a self-taught inventor with over 80 patents but no corporate expertise. He is currently seeking an investor and a partner who can help him turn his concept into a profitable business.
Tail Lightz Shark Tank pitch
Kyle Rainey, along with his daughter and niece, appeared on Shark Tank episode 303 to pitch his Tail Lightz invention.
He was seeking a $50,000 investment in exchange for a 50% stake in his business, which he valued at $100,000. During the pitch, Rainey showcased his prototypes and his daughters demonstrated how the Tail Lightz reacted to motion.
However, the Sharks were not impressed. Barbara Corcoran thought the product was “inconvenient” to wear, and Mark Cuban questioned the market potential.
Kevin O’Leary said the concept was not proprietary, while Robert Herjavec and Daymond John also declined to invest. Cuban was the only Shark left, but ultimately, he also decided not to invest.
Despite the rejection from the Sharks, Rainey continued to work on his invention and renamed it “Blinkers.” However, he has not been able to bring it to market.
Although the company ceased operations in 2015, Rainey still operates RainCo Products as a consultant to innovators. The Sharks encouraged Rainey to continue pursuing his ambitions and to keep searching for the one concept that will take off for him.
Competitors of Tail Lightz
The prime competitors of Tail Lightz are; LED Dog Collars, LED Temporary Tattoos, and LED Lighten Shoe Straps.
Net Worth of Tail Lightz
The company valuation was $100,000 during and after the pitch. In 2015 the company went out of business and hence the company’s net worth is unavailable.
Tail Lightz FAQs
What is Tail Lightz?
Tail Lightz is a range of magnetic patches with LED lights that are intended to be worn on the rear pocket of pants and shorts, as well as on caps and handbags.
Who is the founder?
Kyle Rainey of Baton Rouge, Louisiana is the founder of Tail Lightz. Kyle Rainey’s specialist has always been marketing, which is why he has invented countless items using his abilities.
How much was Rainey seeking on Shark Tank?
Rainey was seeking for $50,000 for a 50% stake in his business, which worth $100,000.
Did he have the deal?
No, he did not get the deal during the pitch.
Is Tail Lightz still in business?
Tail Lightz is not currently in business.
Where was Tail Lightz located?
Tail Lightz is located in Baton Rouge.
What were the products to Tail Lightz offered?
They offered number of products like Tail Lightz, Tail Lightz Plus and Tail Lightz Official Apparel.
Was Tail Lightz available in any other colors?
The product was available in Red, Blue, Green and White only.
Where can I buy Tail Lightz?
Not available online or other retail stores.
Is Tail Lightz safe for children?
Tail Lightz have been tested by a number of pediatricians and hospitals to see if it is safe for use by kids.
What was Tail Lightz made of?
Tail Lightz was made of 100% silicone rubber mold, LED lights, neodymium magnet, and a thin coating of silicone.
What was the market of Tail Lightz?
The market was kids, teens and adults.
How much did Tail Lightz cost?
Tail Lightz was priced at $4.99 for a pack of four and $6.99 for a pack of eight with free shipping on all orders over $13.
How long was Tail Lightz last when used?
Tail Lightz was worn for no more than two hours at a time, and were meant to be worn on the rear pocket of pants, as well as on caps and handbags.
What countries were available for purchasing Tail Lightz?
Tail Lightz was available in United States, Asia, Europe and Canada only.
Did Tail Lightz work?
Tail Lightz producer claimed that the lights will last for up to 50 hours per charge, but it is not yet confirmed whether it actually did so.
How was Tail Lightz used?
The product was worn on the back pocket of pants and shorts. It also could be used on hats, tote bags and wristbands.
What was Tail Lightz’ warranty?
The company offers a warranty of 6 months. The customer has to send back the product to them in order to get their money back. This may help the company save shipping charges on returns.
What were the payment methods accepted by Tail Lightz?
Customers could pay by any credit card or through PayPal.
What was the shipping time by Tail Lightz?
The product was shipped and delivered in 2-4 business days.
Where is Kyle Rainey now?
Kyle Rainey is currently serving as a consultant.
What is the net worth of Kyle Rainey?
The net worth of Kyle Rainey is unknown.